Bill > HB0741

This bill makes a technical amendment to the State Pension Funds Continuing Appropriation Act, specifically modifying Section 1. The change involves removing and reinserting the word "the" in a sentence describing the purpose of appropriations from the State Pensions Fund. The bill maintains the existing provision that allows for continuing annual appropriations to designated retirement systems to make up any deficiencies in required funding as outlined in Section 8.12 of the State Finance Act. Essentially, this ensures that if the total appropriation to a retirement system is less than the amount required by law, additional funds can be automatically allocated from the State Pensions Fund on July 1st of each fiscal year. The modification appears to be a minor grammatical adjustment with no substantive change to the underlying policy or funding mechanism.

Government Affairs

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=741&GAID=18&DocTypeID=HB&SessionID=114&GA=104