Bill Title: Amends the Illinois Pension Code. In the Cook County and Cook County Forest Preserve Articles, increases the multiplier used to calculate the maximum tax levy for the years 2014 through 2020. Beginning in 2021, provides for an annual tax levy based on (1) the employer's 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.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2013-01-08 - Session Sine Die [SB3421 Detail]

---

Bill Drafts

Revision	Date	Format	Source	View
Introduced	2012-02-07	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB3421

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB3421 currently on file.