97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB2498
 
Introduced 10/12/2011, by Sen. Ron Sandack
 
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, 2013 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.



LRB097 13630 AMC 58166 b

FISCAL NOTE ACT MAY APPLY
PENSION IMPACT NOTE ACT MAY APPLY
 
 
A BILL FOR
 


SB2498LRB097 13630 AMC 58166 b



1    AN ACT concerning public employee benefits.

 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:



 
4    Section 5. The Illinois Pension Code is amended by changing 
5Sections
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 
8created to provide
retirement annuities, survivor's annuities 
9and other benefits for certain
members of the General Assembly, 
10certain elected state officials, and their
beneficiaries.


11    The system shall be known as the "General Assembly 
12Retirement System".
All its funds and property shall be a trust 
13separate from all other
entities, maintained for the purpose of 
14securing payment of annuities and
benefits under this Article.


15    Participation in the retirement system created under this 
16Article by members of the General Assembly is
restricted to 
17persons who become participants before January 1, 2013.

18Beginning on that date, the System shall not accept any new 
19participants 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 
 
 
SB2498- 2 -LRB097 13630 AMC 58166 b

1Assembly of this
State, including persons who enter military 
2service while a member of the
General Assembly, and any person 
3serving as Governor, Lieutenant Governor,
Secretary of State, 
4Treasurer, Comptroller, or Attorney General for the period
of 
5service in such office.


6    Any person who has served for 10 or more years as Clerk or 
7Assistant Clerk
of the House of Representatives, Secretary or 
8Assistant Secretary of the
Senate, or any combination thereof, 
9may elect to become a member
of this system while thenceforth 
10engaged in such service by filing a
written election with the 
11board.  Any person so electing shall be
deemed an active member 
12of the General Assembly for the purpose of validating
and 
13transferring any service credits earned under any of the funds 
14and systems
established under Articles 3 through 18 of this 
15Code.


16    However, notwithstanding any other provision of this 
17Article, a member of the General Assembly
shall not be deemed a 
18member for the purposes of this Article unless he or she
became 
19a participant of the System before January 1, 2013.


20(Source: P.A. 85-1008.)


 

21    Section 99. Effective date. This Act takes effect upon 
22becoming law.