IL SB1826 | 2019-2020 | 101st General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. Authorizes the governing body of a municipality or instrumentality to provide an alternative retirement plan in lieu of or in addition to the existing plan under the Article. Provides that the alternative retirement plan may include a defined-benefit component, a defined contribution component, or both, and may include disability or survivor benefits and any other benefits that are permitted under federal law. Provides that the alternative retirement plan is not required to provide any minimum level of benefits and need not provide any benefits at all, other than mandatory Social Security coverage if applicable. Provides that service credit received under an alternative retirement plan may not be transferred to any other fund and may not be used under the Retirement Systems Reciprocal Act (Article 20 of the Code).
Title
PENCD-LOCAL CONTRL OF BENEFITS
Sponsors
History
Date | Chamber | Action |
---|---|---|
2021-01-13 | Senate | Session Sine Die |
2019-03-28 | Senate | Rule 3-9(a) / Re-referred to Assignments |
2019-03-22 | Senate | Rule 2-10 Committee Deadline Established As March 28, 2019 |
2019-03-06 | Senate | To Subcommittee on Election Law |
2019-02-27 | Senate | Assigned to Executive |
2019-02-15 | Senate | Referred to Assignments |
2019-02-15 | Senate | First Reading |
2019-02-15 | Senate | Filed with Secretary by Sen. Dan McConchie |
Code Citations
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1826&GAID=15&DocTypeID=SB&SessionID=108&GA=101 |
Text | https://www.ilga.gov/legislation/101/SB/10100SB1826.htm |