Bill Title: Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. Provides that the Board shall determine the amortization period to be used in calculating the amount to be contributed by participating municipalities and participating instrumentalities in order to adjust for changes in the Fund's unfunded accrued liabilities. Specifies that the amortization period shall not exceed 30 years for participating municipalities or 10 years for participating instrumentalities. Allows participating employees to withdraw additional contributions only to the extent permitted by the federal Internal Revenue Code of 1986. Requires the Board to meet at least quarterly (rather than monthly). Also makes technical changes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Spectrum: Moderate Partisan Bill (Democrat 8-1)

Status: (Passed) 2013-08-09 - Public Act . . . . . . . . . 98-0218 [HB1444 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Chaptered	2013-08-12	HTML/Text	Link	View
Enrolled	2013-05-16	HTML/Text	Link	View
Engrossed	2013-03-06	HTML/Text	Link	View
Introduced	2013-02-06	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB1444

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB1444 currently on file.

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