|
| | 100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB0293 Introduced , by Rep. David S. Olsen 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 by members of the General Assembly to persons who become participants before January 1, 2018 and provides that, beginning on that date, the System shall not accept any new participants who are members of the General Assembly. Makes related changes. Effective immediately.
|
| |
| | FISCAL NOTE ACT MAY APPLY | | PENSION IMPACT NOTE ACT MAY APPLY |
| | A BILL FOR |
|
|
| | HB0293 | | LRB100 05287 RPS 15298 b |
|
|
1 | | AN ACT concerning public employee benefits.
|
2 | | Be it enacted by the People of the State of Illinois,
|
3 | | represented in the General Assembly:
|
4 | | Section 5. The Illinois Pension Code is amended by changing |
5 | | Sections
2-101 and 2-105 as follows:
|
6 | | (40 ILCS 5/2-101) (from Ch. 108 1/2, par. 2-101)
|
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 Assembly, |
10 | | certain elected state officials , and their
beneficiaries.
|
11 | | The system shall be known as the "General Assembly |
12 | | Retirement System".
All its funds and property shall be a trust |
13 | | separate from all other
entities, maintained for the purpose of |
14 | | securing payment of annuities and
benefits under this Article.
|
15 | | Participation in the retirement system created under this |
16 | | Article by members of the General Assembly is
restricted to |
17 | | persons who become participants before January 1, 2018.
|
18 | | Beginning on that date, the System shall not accept any new |
19 | | participants who are members of the General Assembly.
|
20 | | (Source: P.A. 83-1440.)
|
21 | | (40 ILCS 5/2-105) (from Ch. 108 1/2, par. 2-105)
|
22 | | Sec. 2-105. Member. "Member": Members of the General |