Report Of Illinois Pension Laws Commission Etc

Author : UNKNOWN. AUTHOR
Publisher : Forgotten Books
ISBN 13 : 9781332040643
Total Pages : 322 pages
Book Rating : 4.0/5 (46 download)

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Download or read book Report of Illinois Pension Laws Commission, Vol. 1 of 2 written by UNKNOWN. AUTHOR and published by Forgotten Books. This book was released on 2015-07-27 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Report of Illinois Pension Laws Commission, Vol. 1 of 2: Part I. Investigations With Certain Comparative Studies; Part II. Underlying Principles and Specific Recommendations for a Revised Pension Plan The following act was passed by the Forty-ninth General Assembly of the State of Illinois, in its second special session, and approved by the Governor on January 24, 1916: An Act providing for the creation of a commission to be known as the Illinois Pension Laws Commission, and defining the powers and duties of such Commission, and repealing an act entitled, "An Act providing for the creation of a commission to be known as the Illinois Pension Laws Commission, and defining the powers and duties of such Commission." Section 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly: That there is hereby created a commission to be known as the Illinois Pension Laws Commission, to consist of four members, one of whom shall be a representative of one of the public pension funds of this State heretofore created by law, the other three of whom shall be persons not interested in any of said pension funds and one of whom shall be a person versed in financial affairs, one a person of actuarial experience, and one a person of legal attainments who shall be chairman of the commission, all of whom shall be appointed by the Governor to hold office as members of said commission until the convening of the Fiftieth General Assembly, at which time said commission shall go out of existence. Sec. 2. It shall be the duty of said commission to investigate the operation of all pension laws heretofore enacted in this State; to gather together all available information as to the present and probable future cost of maintaining the funds created by said laws and to collect all available information in regard to the operation of similar laws in other states and countries. The commission shall report the results of its investigations, together with any recommendations it may see fit to make, to the Governor not later than December 20, 1916, for transmission to the Fiftieth General Assembly. Sec. 3. The Commission shall have power to call upon the Insurance Department and other departments of this State for such assistance as it may require, and to employ one or more actuaries, a clerk, a stenographer, and such other assistance as it may require. It shall also have power to examine the books of all present public pension funds now existing by law, to compel the production of all books and papers belonging to any of said funds, to administer oaths and to take the testimony of all witnesses necessary for the purposes of this Act. Sec. 4. The expense of said commission, including a reasonable per diem to the members thereof not to exceed ten dollars per day for time actually spent in such investigation, shall be paid out of funds to be appropriated for that purpose upon vouchers drawn upon the Auditor of Public Accounts, properly itemized and certified to by the chairman of the commission and approved by the Governor. Sec. 5. That an Act entitled, "An Act providing for the creation of a commission to be known as the Illinois Pension Laws Commission, and defining the powers and duties of such commission," approved December 3, 1915, be and the same is hereby repealed. Sec. 6. Whereas, an emergency exists, therefore this Act shall be in full force and effect immediately after its passage and approval. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com