Bill Text: IL SB1699 | 2017-2018 | 100th General Assembly | Introduced

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Bill Title: Amends the Illinois Pension Code. Makes a technical change in a Section concerning downstate teachers.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2019-01-09 - Session Sine Die [SB1699 Detail]

Download: Illinois-2017-SB1699-Introduced.html

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100TH GENERAL ASSEMBLY State of Illinois 2017 and 2018 SB1699 Introduced 2/9/2017, by Sen. Julie A. Morrison SYNOPSIS AS INTRODUCED:
40 ILCS 5/16-101 from Ch. 108 1/2, par. 16-101
Amends the Illinois Pension Code. Makes a technical change in a Section concerning downstate teachers.
LRB100 09585 RPS 19753 b
PENSION IMPACT NOTE ACT MAY APPLY
A BILL FOR
SB1699 LRB100 09585 RPS 19753 b
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
Section 16-101 as follows:
(40 ILCS 5/16-101) (from Ch. 108 1/2, par. 16-101)
Sec. 16-101. Creation of system. Effective July 1, 1939,
there is created the the "Teachers' Retirement System of the
State of Illinois" for the purpose of providing retirement
annuities and other benefits for teachers, annuitants and
beneficiaries. All of its business shall be transacted, its
funds invested, and its assets held in such name.
(Source: P.A. 83-1440.)