IL SB4000 | 2019-2020 | 101st General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 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 (Democrat 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 Downstate Police and Downstate Firefighter Articles of the Illinois Pension Code. Provides that the annual employer contribution shall include an amount sufficient to bring the total assets of the pension fund up to 90% of the total actuarial liabilities of the pension fund by the end of municipal fiscal year 2050 (instead of 2040). Makes a conforming change. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Title
PENCD-DWNST POL&FIRE-FINANCING
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2021-01-13 | Senate | Session Sine Die |
| 2021-01-04 | Senate | Referred to Assignments |
| 2021-01-04 | Senate | First Reading |
| 2021-01-04 | Senate | Filed with Secretary by Sen. Cristina Castro |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 30 | 805 | 8.44 | New Code | See Bill Text |
| 40 | 5 | 3-125 | Amended Code | Citation Text |
| 40 | 5 | 4-118 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4000&GAID=15&DocTypeID=SB&SessionID=108&GA=101 |
| Text | https://www.ilga.gov/legislation/101/SB/10100SB4000.htm |
