Bill Text: IL SB0363 | 2017-2018 | 100th General Assembly | Introduced
Bill Title: Amends the State Pension Funds Continuing Appropriation Act. Makes a technical change in a Section concerning appropriations from the State Pensions Fund.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2019-01-09 - Session Sine Die [SB0363 Detail]
Download: Illinois-2017-SB0363-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 State Pension Funds Continuing | ||||||||||||||||||||||||
5 | Appropriation Act is amended by changing Section 1 as follows:
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6 | (40 ILCS 15/1)
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7 | Sec. 1. Appropriations from State Pensions Fund. | ||||||||||||||||||||||||
8 | (a) For the
the purpose of making
up any deficiency in the | ||||||||||||||||||||||||
9 | appropriations to the designated retirement systems
that are | ||||||||||||||||||||||||
10 | required to be made under Section 8.12 of the State Finance | ||||||||||||||||||||||||
11 | Act, there
is hereby appropriated, on a continuing annual basis | ||||||||||||||||||||||||
12 | in each fiscal year, from
the State Pensions Fund to each | ||||||||||||||||||||||||
13 | designated retirement system, the amount, if
any, by which the | ||||||||||||||||||||||||
14 | total appropriation to that system from the State Pensions
Fund | ||||||||||||||||||||||||
15 | for that fiscal year is less than the amount required to be | ||||||||||||||||||||||||
16 | appropriated
to that retirement system under Section 8.12 of | ||||||||||||||||||||||||
17 | the State Finance Act. | ||||||||||||||||||||||||
18 | The annual appropriation under this Section to each | ||||||||||||||||||||||||
19 | designated retirement
system shall take effect on July 1 for | ||||||||||||||||||||||||
20 | the State fiscal year beginning on that
date.
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21 | The amount of any continuing appropriation used by a | ||||||||||||||||||||||||
22 | retirement system
under this Section for a given fiscal year | ||||||||||||||||||||||||
23 | shall be charged against the
unexpended amount of any |
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1 | appropriation to that retirement system for
that fiscal year | ||||||
2 | under Section 8.12 of the State Finance Act that subsequently
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3 | becomes available, subject to Section 8.3 of the State Finance | ||||||
4 | Act.
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5 | "Designated retirement systems" means the State Employees' | ||||||
6 | Retirement
System of Illinois, the Teachers' Retirement System | ||||||
7 | of the State of
Illinois, the State Universities Retirement | ||||||
8 | System, the Judges Retirement
System of Illinois, and the | ||||||
9 | General Assembly Retirement System.
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10 | The appropriations made in this Section are appropriated to | ||||||
11 | the designated
retirement systems for the funding of the | ||||||
12 | unfunded liabilities of the designated retirement systems and | ||||||
13 | are in addition to, and not in lieu of, any State contributions | ||||||
14 | required under the Illinois Pension Code.
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15 | (b) For State fiscal year 2011 only, a continuing | ||||||
16 | appropriation is provided to the State Universities' | ||||||
17 | Retirement System that shall not exceed the amount certified by | ||||||
18 | the System on or before December 31, 2009; however, the | ||||||
19 | continuing appropriation shall not reduce the amount in the | ||||||
20 | State Pensions Fund below $5,000,000. | ||||||
21 | (Source: P.A. 95-950, eff. 8-29-08; 96-959, eff. 7-1-10.)
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