Bill Text: IL HB2941 | 2011-2012 | 97th General Assembly | Introduced

---

Bill Title: Amends the Downstate Teachers Article of the Illinois Pension Code. States that the Teachers' Retirement System of the State of Illinois is a governmental plan. Provides that there may be no revision of trust funds or a return of employer contributions, unless permitted by statute. Specifies that a participant's rights to his normal retirement benefit is nonforfeitable on his attainment of retirement.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2013-01-08 - Session Sine Die [HB2941 Detail]

Download: Illinois-2011-HB2941-Introduced.html

---

97TH GENERAL ASSEMBLY State of Illinois 2011 and 2012 HB2941 Introduced , by Rep. Roger L. Eddy SYNOPSIS AS INTRODUCED:
40 ILCS 5/16-101 from Ch. 108 1/2, par. 16-101
Amends the Downstate Teachers Article of the Illinois Pension Code. States that the Teachers' Retirement System of the State of Illinois is a governmental plan. Provides that there may be no revision of trust funds or a return of employer contributions, unless permitted by statute. Specifies that a participant's rights to his normal retirement benefit is nonforfeitable on his attainment of retirement.
LRB097 09614 JDS 49751 b
FISCAL NOTE ACT MAY APPLY PENSION IMPACT NOTE ACT MAY APPLY
A BILL FOR
HB2941 LRB097 09614 JDS 49751 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 16-101 as follows:
(40 ILCS 5/16-101) (from Ch. 108 1/2, par. 16-101)
Sec. 16-101. Creation of system.
(a) Effective July 1, 1939, there is created the "Teachers'
Retirement System of the State of Illinois" for the purpose of
providing retirement annuities and other benefits for
teachers, annuitants and beneficiaries. All of its business
shall be transacted, its funds invested, and its assets held in
such name.
(b) This is a governmental plan under Section 414(d) of the
Internal Revenue Code of the United States. This plan is
intended to satisfy Section 401(a) of that Section by meeting
the requirements of Section 414(d) of that Section. There may
be no revision of trust funds or a return of employer
contributions, except those permitted by statute. A
participant's rights to his normal retirement benefit are
nonforfeitable on his attainment of retirement.
(Source: P.A. 83-1440.)