Illinois House Bill 2962 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 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 Cook County and Cook County Forest Preserve Articles of the Illinois Pension Code. Specifies the dollar amount of the required employer contributions through 2021. Beginning in the year 2022, provides for the annual required contribution to be the amount determined by the Fund to be equal to the sum of (i) the employer's portion of the projected normal cost for that fiscal year, plus (ii) an amount that is sufficient to bring the total actuarial assets of the Fund up to 100% of the total actuarial liabilities of the Fund by the end of 2051. Provides that the contributions may be taken from any revenue source, including, but not limited to, other tax revenues, proceeds of borrowings, or State or federal funds. Amends the State Mandates Act to require implementation without reimbursement. Makes technical and other changes. Effective immediately.

PEN CD-COOK-FOREST-FUNDING

Rep. Jaime Andrade [D]

Date	Chamber	Action
2019-01-08	House	Session Sine Die
2017-03-31	House	Rule 19(a) / Re-referred to Rules Committee
2017-03-03	House	Chief Sponsor Changed to Rep. Jaime M. Andrade, Jr.
2017-02-22	House	Assigned to Personnel & Pensions Committee
2017-02-09	House	Referred to Rules Committee
2017-02-09	House	First Reading
2017-02-09	House	Filed with the Clerk by Rep. Michael J. Zalewski

Chapter	Article	Section	Citation Type	Statute Text
30	805	8.41	New Code	See Bill Text
40	5	10-107	Amended Code	Citation Text
40	5	9-169	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2962&GAID=14&DocTypeID=HB&SessionID=91&GA=100
Text	https://www.ilga.gov/legislation/100/HB/10000HB2962.htm