IL HB3370 | 2011-2012 | 97th General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Amended) [HTML]
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Amended) [HTML]
Summary
Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. Requires the Fund, by rule, to establish a defined contribution benefit plan. Requires the plan to be qualified under the Internal Revenue Code of 1986 and to authorize each participating municipality and participating instrumentality to (i) require participation in the plan by any person who first becomes its employee on or after January 1, 2012, (ii) define benefit levels and employer contributions as it sees fit, (iii) make benefit changes as it deems appropriate, and (iv) otherwise administer the plan. Provides that participating municipalities and instrumentalities must elect to participate in the plan by no later than January 1, 2012. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Title
PEN CD-IMRF-DEF CONTRIB PLAN
Sponsors
History
Date | Chamber | Action |
---|---|---|
2013-01-08 | House | Session Sine Die |
2011-03-17 | House | Rule 19(a) / Re-referred to Rules Committee |
2011-03-17 | House | House Committee Amendment No. 1 Tabled Pursuant to Rule 40 |
2011-03-07 | House | House Committee Amendment No. 1 Rules Refers to Personnel and Pensions Committee |
2011-03-04 | House | House Committee Amendment No. 1 Referred to Rules Committee |
2011-03-04 | House | House Committee Amendment No. 1 Filed with Clerk by Rep. Mike Fortner |
2011-02-28 | House | Assigned to Personnel and Pensions Committee |
2011-02-24 | House | Referred to Rules Committee |
2011-02-24 | House | First Reading |
2011-02-24 | House | Filed with the Clerk by Rep. Mike Fortner |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
30 | 805 | 8.35 | New Code | See Bill Text |
40 | 5 | 7-173.3 | New Code | See Bill Text |