IL SB1310 | 2017-2018 | 100th General Assembly

Status

Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on February 9 2017 - 25% progression
Action: 2017-05-19 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. Provides that any current Tier 2 employee who first became an employee after attaining the age of 57 may, until December 31, 2017, make a one-time, irrevocable election to terminate his or her participation in the Fund. Provides that if an employee elects to terminate his or her participation, he or she shall receive a refund of his or her employee contributions, plus interest at the effective rate from the date of the service to the date of payment. Provides that the option not to participate in the Fund shall be offered to every person who (i) first enters employment for which creditable service may be granted on or after the effective date of the amendatory Act, (ii) is 57 years of age or more when he or she first enters that employment, and (iii) would be subject to the Tier 2 provisions. Provides that the election not to participate must be made prior to making any employee contributions and prior to any employer contributions being made on that person's behalf. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Tracking Information

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Title

PENCD-IMRF-OPT OUT/REFUND

Sponsors


History

DateChamberAction
2017-05-19SenateRule 3-9(a) / Re-referred to Assignments
2017-05-11SenatePostponed - Licensed Activities and Pensions
2017-05-09SenateRe-assigned to Licensed Activities and Pensions
2017-05-09SenateRule 2-10 Committee Deadline Established As May 19, 2017
2017-05-05SenateSenate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
2017-05-05SenateRule 3-9(a) / Re-referred to Assignments
2017-05-04SenateSenate Committee Amendment No. 1 Postponed - Licensed Activities and Pensions
2017-05-04SenatePostponed - Licensed Activities and Pensions
2017-04-27SenateSenate Committee Amendment No. 1 Postponed - Licensed Activities and Pensions
2017-04-27SenatePostponed - Licensed Activities and Pensions
2017-04-07SenateRule 2-10 Committee Deadline Established As May 5, 2017
2017-04-06SenateSenate Committee Amendment No. 1 Postponed - Licensed Activities and Pensions
2017-04-06SenatePostponed - Licensed Activities and Pensions
2017-03-29SenateSenate Committee Amendment No. 1 Postponed - Licensed Activities and Pensions
2017-03-29SenatePostponed - Licensed Activities and Pensions
2017-03-17SenateRule 2-10 Committee Deadline Established As April 7, 2017
2017-03-07SenateSenate Committee Amendment No. 1 Assignments Refers to Licensed Activities and Pensions
2017-03-07SenateAdded as Chief Co-Sponsor Sen. Julie A. Morrison
2017-03-01SenatePostponed - Licensed Activities and Pensions
2017-02-28SenateSenate Committee Amendment No. 1 Referred to Assignments
2017-02-28SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. William R. Haine
2017-02-15SenateAssigned to Licensed Activities and Pensions
2017-02-09SenateReferred to Assignments
2017-02-09SenateFirst Reading
2017-02-09SenateFiled with Secretary by Sen. William R. Haine

Code Citations

ChapterArticleSectionCitation TypeStatute Text
308058.41New CodeSee Bill Text
4057-137Amended CodeCitation Text

Illinois State Sources


Bill Comments

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