Illinois House Bill 1959 (Prior Session Legislation)

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January 8 2013 - Session Sine Die
Text: Latest bill text (Amended) [HTML]

Amends the General Assembly and Judges Articles of the Illinois Pension Code. Allows persons who first became or become employees in the affected Systems on or after January 1, 2011 to elect to participate in a self-managed program of retirement benefits instead of the program of reformed retirement benefits currently offered. Provides that a self-managed plan shall authorize a participant to accumulate assets for retirement through a combination of employer and employee contributions that may be invested at the participant's direction in mutual funds, collective investment funds, or other investment products and used to purchase annuity contracts. Requires the affected Systems to make the self-managed plan available within 6 months after the effective date of the amendatory Act. Provides that, to the extent that the changes made by the amendatory Act are determined to be a new benefit increase under the new benefit increase provisions, the changes are exempt from the 5-year expiration provision. Effective immediately.

PEN CD-GARS/JRS-MANAGED PLAN

Rep Mike Fortner

Rep Robert W. Pritchard

Date	Chamber	Action
2013-01-08	House	Session Sine Die
2011-04-15	House	Rule 19(a) / Re-referred to Rules Committee
2011-04-14	House	Held on Calendar Order of Second Reading - Short Debate
2011-04-14	House	Second Reading - Short Debate
2011-04-06	House	House Floor Amendment No. 1 Referred to Rules Committee
2011-04-06	House	House Floor Amendment No. 1 Filed with Clerk by Rep. Mike Fortner
2011-03-17	House	Placed on Calendar 2nd Reading - Short Debate
2011-03-17	House	Do Pass / Short Debate Personnel and Pensions Committee; 007-000-000
2011-02-23	House	Assigned to Personnel and Pensions Committee
2011-02-17	House	Added Chief Co-Sponsor Rep. Robert W. Pritchard
2011-02-17	House	Referred to Rules Committee
2011-02-17	House	First Reading
2011-02-17	House	Filed with the Clerk by Rep. Mike Fortner

Chapter	Article	Section	Citation Type	Statute Text
40	5	18-118.1	New Code	See Bill Text
40	5	18-118.2	New Code	See Bill Text
40	5	18-120.2	New Code	See Bill Text
40	5	18-133	Amended Code	Citation Text
40	5	18-133.2	New Code	See Bill Text
40	5	18-169.1	New Code	See Bill Text
40	5	2-103.1	New Code	See Bill Text
40	5	2-103.2	New Code	See Bill Text
40	5	2-117.4	New Code	See Bill Text
40	5	2-126	Amended Code	Citation Text
40	5	2-126.2	New Code	See Bill Text
40	5	2-162.1	New Code	See Bill Text

Type	Source
Summary	http://www.ilga.gov/legislation/BillStatus.asp?DocNum=1959&GAID=11&DocTypeID=HB&SessionID=84&GA=97
Text	http://www.ilga.gov/legislation/97/HB/09700HB1959.htm
Text	http://www.ilga.gov/legislation/97/HB/09700HB1959ham001.htm