Bill Text: IL SB0030 | 2011-2012 | 97th General Assembly | Introduced

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Bill Title: Amends the General Assembly Article of the Illinois Pension Code. Restricts participation in the General Assembly Retirement System to persons who become participants before July 1, 2011 and provides that, beginning on that date, the System shall not accept any new participants. Makes related changes. Effective immediately.

Spectrum: Partisan Bill (Republican 4-0)

Status: (Failed) 2013-01-08 - Session Sine Die [SB0030 Detail]

Download: Illinois-2011-SB0030-Introduced.html

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97TH GENERAL ASSEMBLY State of Illinois 2011 and 2012 SB0030 Introduced 1/27/2011, by Sen. Chris Lauzen SYNOPSIS AS INTRODUCED:
40 ILCS 5/2-101 from Ch. 108 1/2, par. 2-101
40 ILCS 5/2-105 from Ch. 108 1/2, par. 2-105
Amends the General Assembly Article of the Illinois Pension Code. Restricts participation in the General Assembly Retirement System to persons who become participants before July 1, 2011 and provides that, beginning on that date, the System shall not accept any new participants. Makes related changes. Effective immediately.
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FISCAL NOTE ACT MAY APPLY PENSION IMPACT NOTE ACT MAY APPLY
A BILL FOR
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AN ACT concerning public employee benefits.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Pension Code is amended by changing
Sections 2-101 and 2-105 as follows:
(40 ILCS 5/2-101) (from Ch. 108 1/2, par. 2-101)
Sec. 2-101. Creation of system. A retirement system is
created to provide retirement annuities, survivor's annuities
and other benefits for certain members of the General Assembly,
certain elected state officials, and their beneficiaries.
The system shall be known as the "General Assembly
Retirement System". All its funds and property shall be a trust
separate from all other entities, maintained for the purpose of
securing payment of annuities and benefits under this Article.
Participation in the retirement system created under this
Article is restricted to persons who become participants before
July 1, 2011. Beginning on that date, the System shall not
accept any new participants.
(Source: P.A. 83-1440.)
(40 ILCS 5/2-105) (from Ch. 108 1/2, par. 2-105)
Sec. 2-105. Member. "Member": Members of the General
Assembly of this State, including persons who enter military

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service while a member of the General Assembly, and any person
serving as Governor, Lieutenant Governor, Secretary of State,
Treasurer, Comptroller, or Attorney General for the period of
service in such office.
Any person who has served for 10 or more years as Clerk or
Assistant Clerk of the House of Representatives, Secretary or
Assistant Secretary of the Senate, or any combination thereof,
may elect to become a member of this system while thenceforth
engaged in such service by filing a written election with the
board. Any person so electing shall be deemed an active member
of the General Assembly for the purpose of validating and
transferring any service credits earned under any of the funds
and systems established under Articles 3 through 18 of this
Code.
However, notwithstanding any other provision of this
Article, a person shall not be deemed a member for the purposes
of this Article unless he or she became a participant of the
System before July 1, 2011.
(Source: P.A. 85-1008.)
Section 99. Effective date. This Act takes effect upon
becoming law.