IL SB3423 | 2017-2018 | 100th General Assembly


Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 16 2018 - 25% progression
Action: 2018-09-30 - Chief Sponsor Changed to Sen. William E. Brady
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]


Amends the Illinois Pension Code. Moves the investment power for eligible downstate police and downstate firefighter pension funds that have net assets in trust that exceed an amount equal to 3 months of current liabilities to the Board of Trustees of the Illinois Municipal Retirement Fund (IMRF). Provides that within 24 months of the effective date of the Act, the Department of Insurance shall audit the investment assets of each eligible pension fund to determine a certified investment asset list. Provides that upon receipt of the certified investment asset list, the Board of IMRF shall initiate the transfer of assets from the board of trustees of the eligible pension fund to the Board of IMRF. Makes conforming changes. Amends the State Mandates Act to require implementation without reimbursement.

Tracking Information

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2018-09-30SenateChief Sponsor Changed to Sen. William E. Brady
2018-04-27SenateRule 3-9(a) / Re-referred to Assignments
2018-04-13SenateRule 2-10 Committee Deadline Established As April 27, 2018
2018-04-12SenateTo Subcommittee on Pension Consolidation
2018-02-27SenateAssigned to Licensed Activities and Pensions
2018-02-16SenateReferred to Assignments
2018-02-16SenateFirst Reading
2018-02-16SenateFiled with Secretary by Sen. Pamela J. Althoff

Code Citations

ChapterArticleSectionCitation TypeStatute Text
308058.42New CodeSee Bill Text
4051-101.6New CodeSee Bill Text
4051-101.7New CodeSee Bill Text
4051-113.05New CodeSee Bill Text
4051-113.1Amended CodeCitation Text
4051-113.2Amended CodeCitation Text
4051-113.3Amended CodeCitation Text
4051-113.4Amended CodeCitation Text
4051-113.4aAmended CodeCitation Text
4051-113.5Amended CodeCitation Text
4051-113.6Amended CodeCitation Text
4051-113.7Amended CodeCitation Text
4053-127Amended CodeCitation Text
4053-132Amended CodeCitation Text
4053-135Amended CodeCitation Text
4053-135.1New CodeSee Bill Text
4053-135.2New CodeSee Bill Text
4054-120Amended CodeCitation Text
4054-123Amended CodeCitation Text
4054-128Amended CodeCitation Text
4054-128.1New CodeSee Bill Text
4054-128.2New CodeSee Bill Text
4057-226New CodeSee Bill Text
4057-227New CodeSee Bill Text

Illinois State Sources

Bill Comments