Bill Text: IL HR0795 | 2011-2012 | 97th General Assembly | Introduced
Bill Title: Directs the Auditor General to audit, examine and report on the potential for participants in the State retirement systems to earn service credit in a public retirement system for time spent at a private employer.
Spectrum: Moderate Partisan Bill (Republican 4-1)
Status: (Failed) 2013-01-08 - Session Sine Die [HR0795 Detail]
Download: Illinois-2011-HR0795-Introduced.html
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| 1 | HOUSE RESOLUTION
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| 2 | WHEREAS, The Teachers' Retirement System, the State | ||||||
| 3 | Universities Retirement System, the State Employees' | ||||||
| 4 | Retirement System, the Judges Retirement System, and the | ||||||
| 5 | General Assembly Retirement System were created to provide | ||||||
| 6 | retirement benefits for public employees for their public | ||||||
| 7 | service; and
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| 8 | WHEREAS, The five State retirement systems are only a | ||||||
| 9 | combined 43.3% funded, with $83 billion in unfunded liability; | ||||||
| 10 | and
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| 11 | WHEREAS, It has recently been reported by the news media | ||||||
| 12 | that private sector employees have been earning pension credit | ||||||
| 13 | in a public sector retirement system for their private sector | ||||||
| 14 | work; and
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| 15 | WHEREAS, The General Assembly began addressing the problem | ||||||
| 16 | of private sector employees in public sector retirement systems | ||||||
| 17 | with the passage of Public Act 97-651; and
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| 18 | WHEREAS, It is in the public interest to conduct a prudent | ||||||
| 19 | review of all participants in the five State retirement systems | ||||||
| 20 | to ensure that participation is limited to public servants | ||||||
| 21 | working for the public good; therefore, be it
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| 1 | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE | ||||||
| 2 | NINETY-SEVENTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that | ||||||
| 3 | the Auditor General shall audit, examine and report on the | ||||||
| 4 | potential for participants in the State retirement systems | ||||||
| 5 | created under Articles 2, 14, 15, 16 and 18 of the Illinois | ||||||
| 6 | Pension Code to earn service credit in a public retirement | ||||||
| 7 | system for time spent at a private employer; and be it further
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| 8 | RESOLVED, That the Teachers' Retirement System, the State | ||||||
| 9 | Universities Retirement System, the State Employees' | ||||||
| 10 | Retirement System, the Judges Retirement System, the General | ||||||
| 11 | Assembly Retirement System, and any other entity having | ||||||
| 12 | information relevant to this audit cooperate fully and promptly | ||||||
| 13 | with the Auditor General's Office in the conduct of this audit; | ||||||
| 14 | and be it further
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| 15 | RESOLVED, That the Auditor General commence this audit as | ||||||
| 16 | soon as possible and report his findings and recommendations | ||||||
| 17 | upon completion in accordance with the provisions of Section | ||||||
| 18 | 3-14 of the Illinois State Auditing Act; and be it further
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| 19 | RESOLVED, That suitable copies of this resolution be | ||||||
| 20 | delivered to the Auditor General and the boards of the | ||||||
| 21 | Teachers' Retirement System, the State Universities Retirement | ||||||
| 22 | System, the State Employees' Retirement System, the Judges | ||||||
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| 1 | Retirement System, and the General Assembly Retirement System.
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