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91_SB0455
LRB9105563EGfg
1 AN ACT to amend the Illinois Pension Code by adding
2 Section 14-135.11.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Pension Code is amended by
6 adding Section 14-135.11 as follows:
7 (40 ILCS 5/14-135.11 new)
8 Sec. 14-135.11. To establish and administer a defined
9 contribution retirement plan.
10 The Board may design and implement a defined contribution
11 retirement plan for persons who first become members of the
12 System on or after January 1, 2001, as an alternative to the
13 benefits currently provided by the System under this Article.
14
15 Section 99. Effective date. This Act takes effect upon
16 becoming law.