IL SB3455 | 2015-2016 | 99th General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on November 29 2016 - 25% progression, died in committee
Action: 2016-11-29 - Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on November 29 2016 - 25% progression, died in committee
Action: 2016-11-29 - Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Summary
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 18 months of the effective date of the amendatory 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.
Title
PENCD-DNST POL & FIRE-IMRF
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2016-11-29 | Senate | Referred to Assignments |
| 2016-11-29 | Senate | First Reading |
| 2016-11-29 | Senate | Filed with Secretary by Sen. Michael E. Hastings |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 30 | 805 | 8.40 | New Code | See Bill Text |
| 40 | 5 | 1-101.6 | New Code | See Bill Text |
| 40 | 5 | 1-101.7 | New Code | See Bill Text |
| 40 | 5 | 1-113.05 | New Code | See Bill Text |
| 40 | 5 | 1-113.1 | Amended Code | Citation Text |
| 40 | 5 | 1-113.2 | Amended Code | Citation Text |
| 40 | 5 | 1-113.3 | Amended Code | Citation Text |
| 40 | 5 | 1-113.4 | Amended Code | Citation Text |
| 40 | 5 | 1-113.4a | Amended Code | Citation Text |
| 40 | 5 | 1-113.5 | Amended Code | Citation Text |
| 40 | 5 | 1-113.6 | Amended Code | Citation Text |
| 40 | 5 | 1-113.7 | Amended Code | Citation Text |
| 40 | 5 | 3-127 | Amended Code | Citation Text |
| 40 | 5 | 3-132 | Amended Code | Citation Text |
| 40 | 5 | 3-135 | Amended Code | Citation Text |
| 40 | 5 | 3-135.1 | New Code | See Bill Text |
| 40 | 5 | 3-135.2 | New Code | See Bill Text |
| 40 | 5 | 4-120 | Amended Code | Citation Text |
| 40 | 5 | 4-123 | Amended Code | Citation Text |
| 40 | 5 | 4-128 | Amended Code | Citation Text |
| 40 | 5 | 4-128.1 | New Code | See Bill Text |
| 40 | 5 | 4-128.2 | New Code | See Bill Text |
| 40 | 5 | 7-226 | New Code | See Bill Text |
| 40 | 5 | 7-227 | New Code | See Bill Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3455&GAID=13&DocTypeID=SB&SessionID=88&GA=99 |
| Text | https://www.ilga.gov/legislation/99/SB/09900SB3455.htm |
