Roll Call: IL HB4513 | 2011-2012 | 97th General Assembly
For additional roll call votes on Illinois HB4513 please see the Vote List
Bill Title: Amends the Metropolitan Water Reclamation District Article of the Illinois Pension Code. Increases the required employee contributions of persons who first became employees of the Fund or certain reciprocal systems before January 1, 2011. Changes the manner in which the District calculates its required contribution and tax levy. The new contribution amount is calculated as the employer's normal cost plus the annual amount needed to amortize the unfunded liability by the year 2050 as a level percent of payroll, but shall not exceed an amount equal to the total employee contributions 2 years prior multiplied by 4.19 (currently 2.19). States that the funding goal is to attain a funded ratio of at least 90% by the year 2050. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Sponsorship: Moderate Partisan Bill (Democrat 4-1)
Status: (Passed) 2012-08-03 - Public Act . . . . . . . . . 97-0894 [HB4513 Detail]
Text: Latest bill text (Chaptered) [HTML]
Bill Title: Amends the Metropolitan Water Reclamation District Article of the Illinois Pension Code. Increases the required employee contributions of persons who first became employees of the Fund or certain reciprocal systems before January 1, 2011. Changes the manner in which the District calculates its required contribution and tax levy. The new contribution amount is calculated as the employer's normal cost plus the annual amount needed to amortize the unfunded liability by the year 2050 as a level percent of payroll, but shall not exceed an amount equal to the total employee contributions 2 years prior multiplied by 4.19 (currently 2.19). States that the funding goal is to attain a funded ratio of at least 90% by the year 2050. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Sponsorship: Moderate Partisan Bill (Democrat 4-1)
Status: (Passed) 2012-08-03 - Public Act . . . . . . . . . 97-0894 [HB4513 Detail]
Text: Latest bill text (Chaptered) [HTML]
Vote: Third Reading in Senate
| Vote | Tally | Democrat | Republican |
|---|---|---|---|
| Yea | 50 | 32 | 18 |
| Nay | 2 | - | 2 |
| Not Voting | 7 | 3 | 4 |
| Absent | - | - | - |
| TOTAL | 59 | 35 | 24 |
