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Sen. James F. Clayborne Jr.
Filed: 4/11/2005
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09400SB0763sam001 |
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LRB094 04424 AMC 44402 a |
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| AMENDMENT TO SENATE BILL 763
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| AMENDMENT NO. ______. Amend Senate Bill 763 by replacing |
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| everything after the enacting clause with the following:
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| "Section 5. The Illinois Pension Code is amended by |
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| changing Section 2-134 as follows:
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| (40 ILCS 5/2-134)
(from Ch. 108 1/2, par. 2-134)
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| Sec. 2-134. To certify required State contributions and |
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| submit vouchers.
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| (a) The Board shall certify to the Governor on or before |
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| December
November 15 of each
year the amount of the required |
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| State contribution to the System for the next
fiscal year. The |
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| certification shall include a copy of the actuarial
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| recommendations upon which it is based.
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| On or before May 1, 2004, the Board shall recalculate and |
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| recertify to
the Governor the amount of the required State |
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| contribution to the System for
State fiscal year 2005, taking |
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| into account the amounts appropriated to and
received by the |
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| System under subsection (d) of Section 7.2 of the General
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| Obligation Bond Act.
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| (b) Beginning in State fiscal year 1996, on or as soon as |
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| possible after the
15th day of each month the Board shall |
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| submit vouchers for payment of State
contributions to the |
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| System, in a total monthly amount of one-twelfth of the
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| required annual State contribution certified under subsection |
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09400SB0763sam001 |
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LRB094 04424 AMC 44402 a |
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| (a).
From the effective date of this amendatory Act
of the 93rd |
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| General Assembly through June 30, 2004, the Board shall not
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| submit vouchers for the remainder of fiscal year 2004 in excess |
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| of the
fiscal year 2004 certified contribution amount |
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| determined
under this Section after taking into consideration |
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| the transfer to the
System under subsection (d) of Section |
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| 6z-61 of the State Finance Act.
These
vouchers shall be paid by |
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| the State Comptroller and Treasurer by warrants drawn
on the |
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| funds appropriated to the System for that fiscal year. If in |
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| any month
the amount remaining unexpended from all other |
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| appropriations to the System for
the applicable fiscal year |
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| (including the appropriations to the System under
Section 8.12 |
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| of the State Finance Act and Section 1 of the State Pension |
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| Funds
Continuing Appropriation Act) is less than the amount |
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| lawfully vouchered under
this Section, the difference shall be |
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| paid from the General Revenue Fund under
the continuing |
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| appropriation authority provided in Section 1.1 of the State
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| Pension Funds Continuing Appropriation Act.
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| (c) The full amount of any annual appropriation for the |
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| System for
State fiscal year 1995 shall be transferred and made |
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| available to the System
at the beginning of that fiscal year at |
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| the request of the Board.
Any excess funds remaining at the end |
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| of any fiscal year from appropriations
shall be retained by the |
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| System as a general reserve to meet the System's
accrued |
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| liabilities.
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| (Source: P.A. 93-2, eff. 4-7-03; 93-665, eff. 3-5-04.)
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| Section 99. Effective date. This Act takes effect upon |
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| becoming law.".
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