IL SB3487 | 2017-2018 | 100th General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 9 2019 - 100% progression
Action: 2019-01-09 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Republican 1-0)
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. Merges all Article 3 police pension funds into a single Downstate Police Pension Fund on January 1, 2020. Creates a Transition Board, which is responsible for planning, overseeing, and administering the consolidation. Authorizes the Transition Board to undertake numerous activities necessary for the consolidation, including making arrangements for staff, investments, transfer of assets and liabilities, acquisition of property, establishment of municipality accounts, and adopting rules and procedures. Authorizes the Transition Board to enter into contracts and to obligate and expend the assets of the Fund. Creates a new Board of Trustees for the Fund, and provides for administration of the Fund by the Transition Board until the new Board assumes its duties on January 1, 2021. Provides for investment of the Fund's assets by a custodian chosen by the Board of Trustees. Makes conforming and other changes. Provides that beginning January 1, 2020, the employee contribution for Tier 1 participants is 35% (rather than 9.91%) of a Tier 1 participant's salary. Provides that notwithstanding any other provision of law, a Tier 1 participant may voluntarily make an irrevocable election to instead become a Tier 2 participant with respect to service performed or established on and after the effective date of the election. Defines "Tier 1 participant" and "Tier 2 participant" and makes corresponding changes. Amends the State Mandates Act to require implementation without reimbursement. Makes other changes. Effective immediately, except that certain changes to the Illinois Pension Code take effect January 1, 2020.
Title
PEN CD-CONSOLIDATE DNST POLICE
Sponsors
Sen. Bill Brady [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 |
2018-02-16 | Senate | Referred to Assignments |
2018-02-16 | Senate | First Reading |
2018-02-16 | Senate | Filed with Secretary by Sen. Pamela J. Althoff |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
30 | 805 | 8.42 | New Code | See Bill Text |
40 | 5 | 3-101 | Amended Code | Citation Text |
40 | 5 | 3-101.1 | New Code | See Bill Text |
40 | 5 | 3-101.2 | New Code | See Bill Text |
40 | 5 | 3-102.1 | New Code | See Bill Text |
40 | 5 | 3-103 | Amended Code | Citation Text |
40 | 5 | 3-103.9 | New Code | See Bill Text |
40 | 5 | 3-104 | New Code | See Bill Text |
40 | 5 | 3-105 | Amended Code | Citation Text |
40 | 5 | 3-108.2 | Amended Code | Citation Text |
40 | 5 | 3-108.2a | New Code | See Bill Text |
40 | 5 | 3-108.3 | Amended Code | Citation Text |
40 | 5 | 3-109.5 | New Code | See Bill Text |
40 | 5 | 3-110 | Amended Code | Citation Text |
40 | 5 | 3-110.7 | Amended Code | Citation Text |
40 | 5 | 3-111 | Amended Code | Citation Text |
40 | 5 | 3-111.1 | Amended Code | Citation Text |
40 | 5 | 3-112 | Amended Code | Citation Text |
40 | 5 | 3-125 | Amended Code | Citation Text |
40 | 5 | 3-125.1 | Amended Code | Citation Text |
40 | 5 | 3-128 | Amended Code | Citation Text |
40 | 5 | 3-128.1 | New Code | See Bill Text |
40 | 5 | 3-128.2 | New Code | See Bill Text |
40 | 5 | 3-134 | Amended Code | Citation Text |
40 | 5 | 3-135 | Amended Code | Citation Text |
40 | 5 | 3-140.5 | New Code | See Bill Text |
40 | 5 | 3-141 | Amended Code | Citation Text |
40 | 5 | 3-141a | New Code | See Bill Text |
40 | 5 | 3-141b | New Code | See Bill Text |
40 | 5 | 3-141c | New Code | See Bill Text |
40 | 5 | 3-141d | New Code | See Bill Text |
40 | 5 | 7-199.5 | New Code | See Bill Text |
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3487&GAID=14&DocTypeID=SB&SessionID=91&GA=100 |
Text | https://www.ilga.gov/legislation/100/SB/10000SB3487.htm |