Bill Text: IL SR0054 | 2009-2010 | 96th General Assembly | Introduced
Bill Title: Instructs the Commission on Government Forecasting and Accountability to study the economic impact on central Illinois of the number of jobs that would be eliminated due to the consolidation of investment authority in the State Universities Retirement System and the Teachers' Retirement System of State of Illinois.
Spectrum: Slight Partisan Bill (Republican 3-1)
Status: (Passed) 2009-04-29 - Resolution Adopted; 053-000-001 [SR0054 Detail]
Download: Illinois-2009-SR0054-Introduced.html
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| 1 | SENATE RESOLUTION
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| 2 | WHEREAS, Illinois Treasurer, Alexi Giannoulias, has | ||||||
| 3 | proposed consolidating the investment authority of all | ||||||
| 4 | Illinois pension systems under the newly created Illinois | ||||||
| 5 | Public Employee Retirement System; and
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| 6 | WHEREAS, The economic impact of the consolidation of | ||||||
| 7 | investment authority for Illinois pension systems would have a | ||||||
| 8 | negative impact on the economy in central Illinois during these | ||||||
| 9 | difficult economic times; and
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| 10 | WHEREAS, The potential cost savings and increased | ||||||
| 11 | investment return are not guaranteed; and
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| 12 | WHEREAS, Illinois pension systems have consistently | ||||||
| 13 | performed above their peer systems in other states; and
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| 14 | WHEREAS, Having 3 investment pools for the payment of | ||||||
| 15 | pension benefits provides for the diversification of | ||||||
| 16 | portfolios; and
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| 17 | WHEREAS, The loss of well-paying jobs in central Illinois | ||||||
| 18 | would only further depress the job market in the area; | ||||||
| 19 | therefore, be it
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| 1 | RESOLVED, BY THE SENATE OF THE NINETY-SIXTH GENERAL | ||||||
| 2 | ASSEMBLY OF THE STATE OF ILLINOIS, that we instruct the | ||||||
| 3 | Commission on Government Forecasting and Accountability to | ||||||
| 4 | study the economic impact on central Illinois of the number of | ||||||
| 5 | jobs that would be eliminated due to the consolidation of | ||||||
| 6 | investment authority in the State Universities Retirement | ||||||
| 7 | System and the Teachers' Retirement System of State of | ||||||
| 8 | Illinois; and be it further
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| 9 | RESOLVED, That the Commission on Government Forecasting | ||||||
| 10 | and Accountability shall submit a report of its findings and | ||||||
| 11 | recommendations to the General Assembly and each statewide | ||||||
| 12 | elected official on or before October 1, 2009.
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