IL HB4100 | 2021-2022 | 102nd General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on June 15 2021 - 25% progression, died in committee
Action: 2022-02-18 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on June 15 2021 - 25% progression, died in committee
Action: 2022-02-18 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Cook County and Cook County Forest Preserve Articles of the Illinois Pension Code. Specifies the amount of the county's and the forest preserve district's required annual contributions through payment year 2025. Provides that for payment years 2026 through 2063, the county's and forest preserve district's required annual contributions to the Fund shall be the amount determined by the Fund to be equal to the sum of (i) the county's or forest preserve district's portion of the projected normal cost for that fiscal year, plus (ii) an amount determined on a level percentage of applicable employee payroll basis that is sufficient to bring the total actuarial assets of the Fund up to 90% of the total actuarial liabilities of the Fund by the end of 2063. Specifies a formula for payment years after 2063. Provides that, in lieu of levying all or a portion of the required tax in any year, the county or forest preserve district may deposit with the county treasurer for the benefit of the fund an amount that, together with the taxes levied for that year, is not less than the amount of the county's or forest preserve district's contributions for that year as certified by the board of the Fund to the county board or forest preserve district. Provides that the county or forest preserve district may continue to use other lawfully available funds to make the contribution in lieu of all or part of the levy. Makes other changes. Amends the State Mandates Act to require implementation without reimbursement by the State.
Title
PEN CD-COOK COUNTY-FUNDING
Sponsors
Rep. Kelly Burke [D] |
History
Date | Chamber | Action |
---|---|---|
2022-02-18 | House | Rule 19(a) / Re-referred to Rules Committee |
2022-01-25 | House | Assigned to Personnel & Pensions Committee |
2021-06-15 | House | Referred to Rules Committee |
2021-06-15 | House | First Reading |
2021-06-15 | House | Filed with the Clerk by Rep. Kelly M. Burke |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
30 | 805 | 8.45 | New Code | See Bill Text |
40 | 5 | 10-107 | Amended Code | Citation Text |
40 | 5 | 9-169 | Amended Code | Citation Text |
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4100&GAID=16&DocTypeID=HB&SessionID=110&GA=102 |
Text | https://www.ilga.gov/legislation/102/HB/10200HB4100.htm |