Book Description

Excerpt from Report of Illinois Pension Laws Commission, 1918-1919: A Proposed Standard Plan for a Comprehensive and Permanent System of Pension Funds The following act was passed by the Fiftieth General Assembly of the State of Illinois, and approved by the Governor on June 14, 1917. 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 the 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 Fifty-first General Assembly, at which time said commission shall go out of existence. Section 2. It shall be the duty of said commission to further investigate the operation of all pension laws heretofore enacted in this State; to gather all further available information as to the present and probable future cost of maintaining the funds created by said laws and to collect all further 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 first, 1918, for transmission to the Fifty-first General Assembly. Section 3. The commission snail have power to call upon the Insurance Department and all 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. Section 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. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.