Illinois House Bill 445 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Pension Code. With respect to the 5 State-funded Retirement Systems: requires each System to prepare and implement a Tier 3 plan by July 1, 2018 that aggregates State and employee contributions in individual participant accounts which are used for payouts after retirement. Provides that a Tier 1 or Tier 2 participant may irrevocably elect to participate in the Tier 3 plan instead of the defined benefit plan; makes conforming changes. Authorizes a Tier 1 or Tier 2 participant who elects to participate in the Tier 3 plan to elect to terminate all participation in the defined benefit plan and to have a specified amount credited to his or her account under the Tier 3 plan. Provides that the Tier 3 plan supersedes the defined contribution plan created under P.A. 98-599 for certain Tier 1 participants. Requires each System to report on its progress in establishing the Tier 3 plan to the Governor and the General Assembly by January 15, 2018. Provides that "new benefit increase" does not include any benefit increase resulting from the changes made by the amendatory Act. In the Downstate Teachers, State Employees, and State Universities Articles, authorizes a person to elect not to participate or to terminate his or her participation in those Systems. In the General Assembly and Judges Articles, authorizes a participant to terminate his or her participation in the System. Makes related changes in the Retirement Systems Reciprocal Act (Article 20 of the Code) and the State Employees Group Insurance Act of 1971. Makes other changes. Effective immediately.

PENCD-STATE SYS-TIER 3 PLAN

Rep. Jeanne Ives [R]

Date	Chamber	Action
2019-01-08	House	Session Sine Die
2017-03-31	House	Rule 19(a) / Re-referred to Rules Committee
2017-02-02	House	Assigned to Personnel & Pensions Committee
2017-01-17	House	Referred to Rules Committee
2017-01-17	House	First Reading
2017-01-13	House	Filed with the Clerk by Rep. Jeanne M Ives

Chapter	Article	Section	Citation Type	Statute Text
40	5	1-160	Amended Code	Citation Text
40	5	14-103.05	Amended Code	Citation Text
40	5	14-103.40	Repealed Code	Citation Text
40	5	14-103.41	New Code	See Bill Text
40	5	14-103.42	New Code	See Bill Text
40	5	14-103.43	New Code	See Bill Text
40	5	14-152.1	Amended Code	Citation Text
40	5	14-155.5	New Code	See Bill Text
40	5	14-156	Repealed Code	Citation Text
40	5	15-108.1	Amended Code	Citation Text
40	5	15-108.2	Amended Code	Citation Text
40	5	15-108.3	New Code	See Bill Text
40	5	15-134	Amended Code	Citation Text
40	5	15-198	Amended Code	Citation Text
40	5	15-200.5	New Code	See Bill Text
40	5	15-201	Repealed Code	Citation Text
40	5	16-106.4	Repealed Code	Citation Text
40	5	16-106.4a	New Code	See Bill Text
40	5	16-106.4b	New Code	See Bill Text
40	5	16-106.4c	New Code	See Bill Text
40	5	16-123	Amended Code	Citation Text
40	5	16-203	Amended Code	Citation Text
40	5	16-205.5	New Code	See Bill Text
40	5	16-206	Repealed Code	Citation Text
40	5	18-110.1	New Code	See Bill Text
40	5	18-110.2	New Code	See Bill Text
40	5	18-110.3	New Code	See Bill Text
40	5	18-120	Amended Code	Citation Text
40	5	18-121.5	New Code	See Bill Text
40	5	18-124	Amended Code	Citation Text
40	5	18-125	Amended Code	Citation Text
40	5	18-125.1	Amended Code	Citation Text
40	5	18-127	Amended Code	Citation Text
40	5	18-128.01	Amended Code	Citation Text
40	5	18-133	Amended Code	Citation Text
40	5	18-169	Amended Code	Citation Text
40	5	2-105.1	Repealed Code	Citation Text
40	5	2-105.3	New Code	See Bill Text
40	5	2-117	Amended Code	Citation Text
40	5	2-162	Amended Code	Citation Text
40	5	2-165.5	New Code	See Bill Text
40	5	2-166	Repealed Code	Citation Text
40	5	20-121	Amended Code	Citation Text
40	5	20-123	Amended Code	Citation Text
40	5	20-124	Amended Code	Citation Text
40	5	20-125	Amended Code	Citation Text
5	375	10	Amended Code	Citation Text
5	375	3	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=445&GAID=14&DocTypeID=HB&SessionID=91&GA=100
Text	https://www.ilga.gov/legislation/100/HB/10000HB0445.htm