Bill Title: Amends the Cook County and Cook County Forest Preserve Articles of the Illinois Pension Code. Increases the tax multiplier through the year 2022. Beginning in the year 2023, eliminates the multiplier and provides for the annual required contribution and tax levy to be a sum that, when added to the amounts deducted from the salaries of employees or otherwise contributed by them and revenues from other sources, will equal a sum sufficient to meet the annual actuarial requirements of the pension fund as determined by a qualified actuary retained by the pension fund. Defines the annual actuarial requirements of the pension fund to be (1) the normal cost of the pension fund, plus (2) the annual amount necessary to amortize the fund's unfunded accrued liabilities over a period of 30 years from the effective date of the evaluation. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2015-01-13 - Session Sine Die [SB3439 Detail]

Text: Latest bill text (Introduced) [HTML]

---

PolitiCorps Conversations

Start PolitiCorps Debate

Title	PolitiCorps	Access	Comments	Views	Last Post
There are no visible public or private PolitiCorps discussions concerning the 2013 Illinois SB3439 at this time.

Social Comments on IL SB3439