HR0063

LRB096 04585 AMC 14640 r






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HOUSE RESOLUTION


 
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    WHEREAS, Illinois Treasurer, Alexi Giannoulias, has 
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proposed consolidating the investment authority of all 
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Illinois pension systems under the newly created Illinois 
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Public Employee Retirement System; and

 
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    WHEREAS, The economic impact of the consolidation of 
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investment authority for Illinois pension systems would have a 
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negative impact on the economy in central Illinois during these 
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difficult economic times; and

 
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    WHEREAS, The potential cost savings and increased 
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investment return are not guaranteed; and

 
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    WHEREAS, Illinois pension systems have consistently 
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performed above their peer systems in other states; and

 
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    WHEREAS, Having 3 investment pools for the payment of 
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pension benefits provides for the diversification of 
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portfolios; and

 
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    WHEREAS, The loss of well-paying jobs in central Illinois 
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would only further depress the job market in the area; 
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therefore, be it

 
 


 






HR0063
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LRB096 04585 AMC 14640 r




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    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE 
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NINETY-SIXTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we 
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instruct the Commission on Government Forecasting and 
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Accountability to study the economic impact on central Illinois 
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of the number of jobs that would be eliminated due to the 
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consolidation of investment authority in the State 
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Universities Retirement System and the Teachers' Retirement 
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System of State of Illinois; and be it further

 
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    RESOLVED, That the Commission on Government Forecasting 
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and Accountability shall submit a report of its findings and 
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recommendations to the General Assembly and each statewide 
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elected official on or before October 1, 2009.