Illinois Senate Bill 43 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 29 2021 - 25% progression, died in committee
Action: 2021-04-16 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Pension Code. In the Illinois Municipal Retirement Fund (IMRF) Article, provides that retirement annuities shall be payable upon attainment of the required age of distribution under a specified provision of the Internal Revenue Code of 1986 (instead of age 70 1/2). In the State Universities Article, provides that if a participant is not an employee of an employer participating in the System or in a reciprocal system on April 1 of the calendar year next following the calendar year in which the participant attains the age specified under a provision of the Internal Revenue Code of 1986 (instead of the age of 70 1/2), the annuity payment period shall begin on that date. In a provision of the Downstate Teacher Article concerning the required distribution of monthly survivor benefits for certain persons, provides that the distribution shall become payable on certain dates or December 1 of the calendar year in which the deceased member or annuitant would have attained age 72 (instead of 70 1/2), whichever occurs latest. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

PENCD-BENEFIT DISTRIBUTION AGE

Sen. Robert Martwick [D]

Date	Chamber	Action
2021-04-16	Senate	Rule 3-9(a) / Re-referred to Assignments
2021-03-03	Senate	Postponed - Pensions
2021-02-09	Senate	Assigned to Pensions
2021-01-29	Senate	Referred to Assignments
2021-01-29	Senate	First Reading
2021-01-29	Senate	Filed with Secretary by Sen. Robert F. Martwick

Chapter	Article	Section	Citation Type	Statute Text
30	805	8.45	New Code	See Bill Text
40	5	14-121.1	Amended Code	Citation Text
40	5	15-135	Amended Code	Citation Text
40	5	16-142.3	Amended Code	Citation Text
40	5	18-128.3	Amended Code	Citation Text
40	5	2-121.3	Amended Code	Citation Text
40	5	7-141	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=43&GAID=16&DocTypeID=SB&SessionID=110&GA=102
Text	https://www.ilga.gov/legislation/102/SB/10200SB0043.htm