IL SB3444 | 2017-2018 | 100th General Assembly
Status
Completed Legislative Action
Sponsorship: Partisan Bill (Republican 2)
Status: Failed on January 9 2019 - 100% progression
Action: 2019-01-09 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Sponsorship: Partisan Bill (Republican 2)
Status: Failed on January 9 2019 - 100% progression
Action: 2019-01-09 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Pension Code. On January 1, 2021, merges all Article 3 police pension funds into a single Downstate Police Officers Pension Fund and all Article 4 firefighters' pension funds into a single Downstate Firefighters Pension Fund. Creates Transition Boards, which are responsible for planning, overseeing, and administering the consolidation. Authorizes the Transition Boards to undertake numerous activities necessary for the consolidation, including making arrangements for staff, investments, transfer of assets and liabilities, acquisition of property, establishment of municipal accounts, and the adoption of rules and procedures. Authorizes each Transition Board to enter into contracts and to obligate and expend the assets of each Fund. Creates a new Board of Trustees for each Fund, and provides for administration of each Fund by the Transition Board until the new Board assumes its duties on January 1, 2022. Converts the board of trustees of each consolidated pension fund into a pension benefit determination and payment board. Provides for investment of the Funds' assets by custodians chosen by the Boards of Trustees. Makes conforming and other changes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately, except that certain changes to the Illinois Pension Code take effect January 1, 2021.
Title
PEN CD-ART 3 & 4-CONSOLIDATION
Sponsors
| Sen. Bill Brady [R] | Sen. Tom Rooney [R] |
History
| Date | Chamber | Action |
|---|---|---|
| 2019-01-09 | Senate | Session Sine Die |
| 2018-09-30 | Senate | Chief Sponsor Changed to Sen. William E. Brady |
| 2018-04-27 | Senate | Rule 3-9(a) / Re-referred to Assignments |
| 2018-04-13 | Senate | Rule 2-10 Committee Deadline Established As April 27, 2018 |
| 2018-04-12 | Senate | To Subcommittee on Pension Consolidation |
| 2018-02-27 | Senate | Assigned to Licensed Activities and Pensions |
| 2018-02-22 | Senate | Added as Chief Co-Sponsor Sen. Tom Rooney |
| 2018-02-16 | Senate | Referred to Assignments |
| 2018-02-16 | Senate | First Reading |
| 2018-02-16 | Senate | Filed with Secretary by Sen. Pamela J. Althoff |
Code Citations
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3444&GAID=14&DocTypeID=SB&SessionID=91&GA=100 |
| Text | https://www.ilga.gov/legislation/100/SB/10000SB3444.htm |
