IL HB0429 | 2015-2016 | 99th General Assembly
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 28 2015 - 25% progression, died in committee
Action: 2015-01-30 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 28 2015 - 25% progression, died in committee
Action: 2015-01-30 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the State Universities and Downstate Teacher Articles of the Illinois Pension Code. Provides that, for academic years beginning on or after July 1, 2015, if the amount of a participant's earnings for any academic year used to determine the final rate of earnings, determined on a full-time equivalent basis, exceeds the amount of his or her earnings with the same employer for the previous academic year, determined on a full-time equivalent basis, by more than the unadjusted percentage increase in the consumer price index-u for that year (rather than 6%), then the participant's employer shall pay to the applicable System, in addition to all other payments required and in accordance with guidelines established by that System, the present value of the increase in benefits resulting from the portion of the increase in earnings that is in excess of the unadjusted percentage increase in the consumer price index-u for that year (rather than the present value of the increase in benefits resulting from the portion of the increase in earnings that is in excess of 6%). Defines "consumer price index-u". Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Title
PEN CD-EMPLOYER CONTRIBUTIONS
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2015-01-30 | House | Referred to Rules Committee |
| 2015-01-30 | House | First Reading |
| 2015-01-28 | House | Filed with the Clerk by Rep. Thomas Morrison |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 30 | 805 | 8.39 | New Code | See Bill Text |
| 40 | 5 | 15-125.5 | New Code | See Bill Text |
| 40 | 5 | 15-155 | Amended Code | Citation Text |
| 40 | 5 | 16-119 | New Code | See Bill Text |
| 40 | 5 | 16-158 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=429&GAID=13&DocTypeID=HB&SessionID=88&GA=99 |
| Text | https://www.ilga.gov/legislation/99/HB/09900HB0429.htm |
