Bill Text: IL HB0427 | 2013-2014 | 98th General Assembly | Introduced

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

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2014-12-03 - Session Sine Die [HB0427 Detail]

Download: Illinois-2013-HB0427-Introduced.html

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98TH GENERAL ASSEMBLY State of Illinois 2013 and 2014 HB0427 Introduced , by Rep. Michael J. Madigan SYNOPSIS AS INTRODUCED:
40 ILCS 5/5-101 from Ch. 108 1/2, par. 5-101
Amends the Illinois Pension Code. Makes a technical change in a Section concerning Chicago police.
LRB098 03231 JDS 33246 b
PENSION IMPACT NOTE ACT MAY APPLY
A BILL FOR
HB0427 LRB098 03231 JDS 33246 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 5-101 as follows:
(40 ILCS 5/5-101) (from Ch. 108 1/2, par. 5-101)
Sec. 5-101. Creation of fund.
In each city of more than 500,000 inhabitants a policemen's
annuity and and benefit fund shall be created and maintained
for the benefit of its policemen, their widows and children,
and of all contributors to, participants in, and beneficiaries
of any police pension fund in operation, by authority of law,
in such city immediately prior to the effective date. For the
purposes of this Article, the policemen's annuity and benefit
fund may be referred to as the "fund."
(Source: Laws 1963, p. 161.)