Bill Text: IL HJRCA0032 | 2011-2012 | 97th General Assembly | Introduced

---

Bill Title: Proposes to amend the Finance Article of the Illinois Constitution. Provides that the General Assembly shall provide by law for a comprehensive review of State-funded retirement systems to ensure the use of sound actuarial standards and assumptions. Creates an Actuary General, to be appointed by the General Assembly. Provides that the Actuary General shall conduct reviews of the actuarial practices of the State-funded retirement systems and may mandate changes to those practices to ensure that all actuarial assumptions are sound and based on the best information available. Provides that the Actuary General shall make additional investigations and reports as directed by the General Assembly. Effective upon being declared adopted.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2012-05-05 - Tabled Pursuant to Rule 46 [HJRCA0032 Detail]

Download: Illinois-2011-HJRCA0032-Introduced.html

---

97TH GENERAL ASSEMBLY State of Illinois 2011 and 2012 HOUSE JOINT RESOLUTION CONSTITUTIONAL AMENDMENT HC0032 Introduced , by Rep. Rich Brauer SYNOPSIS AS INTRODUCED:
ILCON Art. VIII, Sec. 5 new
Proposes to amend the Finance Article of the Illinois Constitution. Provides that the General Assembly shall provide by law for a comprehensive review of State-funded retirement systems to ensure the use of sound actuarial standards and assumptions. Creates an Actuary General, to be appointed by the General Assembly. Provides that the Actuary General shall conduct reviews of the actuarial practices of the State-funded retirement systems and may mandate changes to those practices to ensure that all actuarial assumptions are sound and based on the best information available. Provides that the Actuary General shall make additional investigations and reports as directed by the General Assembly. Effective upon being declared adopted.
LRB097 17525 EFG 62729 e
HC0032 LRB097 17525 EFG 62729 e
HOUSE JOINT RESOLUTION
CONSTITUTIONAL AMENDMENT
RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE
NINETY-SEVENTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, THE
SENATE CONCURRING HEREIN, that there shall be submitted to the
electors of the State for adoption or rejection at the general
election next occurring at least 6 months after the adoption of
this resolution a proposition to add Section 5 to Article VIII
of the Illinois Constitution as follows:
ARTICLE VIII
FINANCE
(ILCON Art. VIII, Sec. 5 new)
SECTION 5. ACTUARY GENERAL
(a) The General Assembly shall provide by law for a
comprehensive review of State-funded retirement systems to
ensure the use of sound actuarial standards and assumptions.
(b) The General Assembly, by a vote of three-fifths of the
members elected to each house, shall appoint an Actuary General
and may remove him or her for cause by a similar vote. The
Actuary General shall serve for a term of ten years. His or her
compensation shall be established by law and shall not be
diminished during his or her term.
(c) The Actuary General shall conduct reviews of the

HC0032 - 2 - LRB097 17525 EFG 62729 e
actuarial practices of the State-funded retirement systems and
may mandate changes to those practices to ensure that all
actuarial assumptions are sound and based on the best
information available. The Actuary General shall make
additional investigations and reports as directed by the
General Assembly. The Actuary General shall report his or her
findings and recommendations to the General Assembly and to the
Governor.
SCHEDULE
This Constitutional Amendment takes effect upon being
declared adopted in accordance with Section 7 of the Illinois
Constitutional Amendment Act.