SB0675 amends the Illinois Pension Code to create a retirement system for General Assembly members and certain elected state officials.
SB0675 amends the Illinois Pension Code by changing Section 2-101 to create a retirement system known as the "General Assembly Retirement System." This system provides retirement annuities, survivor's annuities, and other benefits for members of the General Assembly, certain elected state officials, and their beneficiaries. The system's funds and property are maintained separately from all other entities to secure payment of these benefits.
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