Illinois HB5610 amends the Budget Stabilization Act to establish the Pension Stabilization Fund and direct transfers from the General Revenue Fund to.
HB5610 amends the Budget Stabilization Act to create the Pension Stabilization Fund, a special fund in the State treasury. The fund will receive transfers from the General Revenue Fund to address actuarial reserve deficiencies in designated retirement systems. These systems include the State Employees' Retirement System, Teachers' Retirement System, State Universities Retirement System, Judges Retirement System, and General Assembly Retirement System.
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