Bill Text: IL SB3723 | 2021-2022 | 102nd General Assembly | Introduced
Bill Title: Amends the General Assembly Article of the Illinois Pension Code. Restricts participation in the General Assembly Retirement System to persons who became participants before the effective date of the amendatory Act and provides that, beginning on that date, the System shall not accept any new participants. Makes related changes. Effective immediately.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2022-01-21 - Referred to Assignments [SB3723 Detail]
Download: Illinois-2021-SB3723-Introduced.html
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| 1 | AN ACT concerning public employee benefits.
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| 2 | Be it enacted by the People of the State of Illinois,
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| 3 | represented in the General Assembly:
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| 4 | Section 5. The Illinois Pension Code is amended by | |||||||||||||||||||||||
| 5 | changing Sections
2-101, 2-105, and 2-107 as follows:
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| 6 | (40 ILCS 5/2-101) (from Ch. 108 1/2, par. 2-101)
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| 7 | Sec. 2-101. Creation of system. A retirement system is | |||||||||||||||||||||||
| 8 | created to provide
retirement annuities, survivor's annuities | |||||||||||||||||||||||
| 9 | and other benefits for certain
members of the General | |||||||||||||||||||||||
| 10 | Assembly, certain elected state officials, and their
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| 11 | beneficiaries.
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| 12 | The system shall be known as the "General Assembly | |||||||||||||||||||||||
| 13 | Retirement System".
All its funds and property shall be a | |||||||||||||||||||||||
| 14 | trust separate from all other
entities, maintained for the | |||||||||||||||||||||||
| 15 | purpose of securing payment of annuities and
benefits under | |||||||||||||||||||||||
| 16 | this Article.
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| 17 | Participation in the retirement system created under this | |||||||||||||||||||||||
| 18 | Article is
restricted to persons who became participants | |||||||||||||||||||||||
| 19 | before the effective date of this amendatory Act of the 102nd | |||||||||||||||||||||||
| 20 | General Assembly.
Beginning on that date, the System shall not | |||||||||||||||||||||||
| 21 | accept any new participants.
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| 22 | (Source: P.A. 83-1440.)
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| 1 | (40 ILCS 5/2-105) (from Ch. 108 1/2, par. 2-105)
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| 2 | Sec. 2-105. Member. "Member": Members of the General | ||||||
| 3 | Assembly of this
State, including persons who enter military | ||||||
| 4 | service while a member of the
General Assembly, and any person | ||||||
| 5 | serving as Governor, Lieutenant Governor,
Secretary of State, | ||||||
| 6 | Treasurer, Comptroller, or Attorney General for the period
of | ||||||
| 7 | service in such office.
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| 8 | Any person who has served for 10 or more years as Clerk or | ||||||
| 9 | Assistant Clerk
of the House of Representatives, Secretary or | ||||||
| 10 | Assistant Secretary of the
Senate, or any combination thereof, | ||||||
| 11 | may elect to become a member
of this system while thenceforth | ||||||
| 12 | engaged in such service by filing a
written election with the | ||||||
| 13 | board. Any person so electing shall be
deemed an active member | ||||||
| 14 | of the General Assembly for the purpose of validating
and | ||||||
| 15 | transferring any service credits earned under any of the funds | ||||||
| 16 | and systems
established under Articles 3 through 18 of this | ||||||
| 17 | Code.
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| 18 | However, notwithstanding any other provision of this | ||||||
| 19 | Article, a person
shall not be deemed a member for the purposes | ||||||
| 20 | of this Article unless he or she
became a participant of the | ||||||
| 21 | System before the effective date of this amendatory Act of the | ||||||
| 22 | 102nd General Assembly.
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| 23 | (Source: P.A. 85-1008.)
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| 24 | (40 ILCS 5/2-107) (from Ch. 108 1/2, par. 2-107)
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| 25 | Sec. 2-107. Participant. "Participant": Any member who | ||||||
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| 1 | elects to
participate; and any former member who elects to | ||||||
| 2 | continue participation
under Section 2-117.1, for the duration | ||||||
| 3 | of such continued participation. However, notwithstanding any | ||||||
| 4 | other provision of this Article, a person
shall not be deemed a | ||||||
| 5 | participant for the purposes of this Article unless he or she
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| 6 | became a participant of the System before the effective date | ||||||
| 7 | of this amendatory Act of the 102nd General Assembly.
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| 8 | (Source: P.A. 86-1488.)
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