Bill Title: Amends the Budget Stabilization Act. Provides for transfers from the General Revenue Fund to the Pension Stabilization Fund according to a specified schedule beginning in FY 2016 and continuing until FY 2045 or until the retirement funds have achieved a 100% funding ratio, whichever is earlier. Amends the General Assembly, State Employee, State Universities and Downstate Teacher Articles of the Illinois Pension Code. Changes the manner in which the annual required State contribution is calculated so that the affected systems are 100% funded by 2045. Provides that employee contributions to the retirement systems are increased an additional 1% on July 1, 2013 and 2% on July 1, 2014. Provides that the State is contractually obligated to each retirement plan participant and retiree to provide funding to the retirement systems according to the specified amortization schedule beginning in FY 2016 and continuing until FY 2045 or until the retirement funds have achieved a 100% funding ratio, whichever is earlier, in addition to the annual required State contribution certified by the Board for each fiscal year. Provides that each retirement system has the right to bring a mandamus action against the State to compel the State to make any installment of the annual required State contribution certified by the Board and the transfers required under the Budget Stabilization Act. Provides that if a retirement system fails to bring a mandamus action against the State to compel the State to make any required installment, then any participant or retiree may bring such a mandamus action. Effective July 1, 2013.

Spectrum: Bipartisan Bill

Status: (Failed) 2014-12-03 - Session Sine Die [HB3162 Detail]

Text: Latest bill text (Amended) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Jay Hoffman [D]	Primary	Sponsored Bills	HD-113	FollowTheMoney	Ballotpedia	VoteSmart
Representative Raymond Poe [R]	Cosponsor	Sponsored Bills	HD-099	FollowTheMoney	Ballotpedia	VoteSmart
Representative Bill Mitchell [R]	Cosponsor	Sponsored Bills	HD-101	FollowTheMoney	Ballotpedia	VoteSmart
Representative Linda LaVia [D]	Cosponsor	Sponsored Bills	HD-083	FollowTheMoney	Ballotpedia	VoteSmart
Representative Adam Brown [R]	Cosponsor	Sponsored Bills	HD-102	FollowTheMoney	Ballotpedia	VoteSmart
Representative Robert Pritchard [R]	Cosponsor	Sponsored Bills	HD-070	FollowTheMoney	Ballotpedia	VoteSmart
Representative Wayne Rosenthal [R]	Cosponsor	Sponsored Bills	HD-108	FollowTheMoney	Ballotpedia	VoteSmart
Representative Emanuel Welch [D]	Cosponsor	Sponsored Bills	HD-007	FollowTheMoney	Ballotpedia	VoteSmart
Representative Sandra Pihos [R]	Cosponsor	Sponsored Bills	HD-048	FollowTheMoney	Ballotpedia	VoteSmart
Representative Dennis Reboletti [R]	Cosponsor	Sponsored Bills	HD-045	FollowTheMoney	Ballotpedia	VoteSmart
Representative Robyn Gabel [D]	Cosponsor	Sponsored Bills	HD-018	FollowTheMoney	Ballotpedia	VoteSmart
Representative Daniel Beiser [D]	Cosponsor	Sponsored Bills	HD-111	FollowTheMoney	Ballotpedia	VoteSmart
Representative Kelly Cassidy [D]	Cosponsor	Sponsored Bills	HD-014	FollowTheMoney	Ballotpedia	VoteSmart
Representative Ann Williams [D]	Cosponsor	Sponsored Bills	HD-011	FollowTheMoney	Ballotpedia	VoteSmart
Representative Patrick Verschoore [D]	Cosponsor	Sponsored Bills	HD-072	FollowTheMoney	Ballotpedia	VoteSmart
Representative Mike Smiddy [D]	Cosponsor	Sponsored Bills	HD-071	FollowTheMoney	Ballotpedia	VoteSmart
Representative Al Riley [D]	Cosponsor	Sponsored Bills	HD-038	FollowTheMoney	Ballotpedia	VoteSmart
Representative Anthony DeLuca [D]	Cosponsor	Sponsored Bills	HD-080	FollowTheMoney	Ballotpedia	VoteSmart
Representative Lawrence Walsh [D]	Cosponsor	Sponsored Bills	HD-086	FollowTheMoney	Ballotpedia	VoteSmart
Representative Naomi Jakobsson [D]	Cosponsor	Sponsored Bills	HD-103	FollowTheMoney	Ballotpedia	VoteSmart
Representative Norine Hammond [R]	Cosponsor	Sponsored Bills	HD-094	FollowTheMoney	Ballotpedia	VoteSmart
Representative John Cavaletto [R]	Cosponsor	Sponsored Bills	HD-107	FollowTheMoney	Ballotpedia	VoteSmart
Senator Robert Martwick [D]	Cosponsor	Sponsored Bills	SD-010	FollowTheMoney	Ballotpedia	VoteSmart
Representative Josh Harms [R]	Cosponsor	Sponsored Bills	HD-106	FollowTheMoney	Ballotpedia	VoteSmart
Representative Chad Hays [R]	Cosponsor	Sponsored Bills	HD-104	FollowTheMoney	Ballotpedia	VoteSmart
Representative Rich Brauer [R]	Cosponsor	Sponsored Bills	HD-087	FollowTheMoney	Ballotpedia	VoteSmart
Representative Donald Moffitt [R]	Cosponsor	Sponsored Bills	HD-074	FollowTheMoney	Ballotpedia	VoteSmart
Representative David Reis [R]	Cosponsor	Sponsored Bills	HD-109	FollowTheMoney	Ballotpedia	VoteSmart
Representative Christopher Davidsmeyer [R]	Cosponsor	Sponsored Bills	HD-100	FollowTheMoney	Ballotpedia	VoteSmart
Representative Charles Meier [R]	Cosponsor	Sponsored Bills	HD-109	FollowTheMoney	Ballotpedia	VoteSmart
Representative Mike Bost [R]	Cosponsor	Sponsored Bills	HD-115	FollowTheMoney	Ballotpedia	VoteSmart
Representative Brandon Phelps [D]	Cosponsor	Sponsored Bills	HD-118	FollowTheMoney	Ballotpedia	VoteSmart
Representative Michael Tryon [R]	Cosponsor	Sponsored Bills	HD-066	FollowTheMoney	Ballotpedia	VoteSmart
Representative Mary Flowers [D]	Cosponsor	Sponsored Bills	HD-031	FollowTheMoney	Ballotpedia	VoteSmart
Representative John D'Amico [D]	Cosponsor	Sponsored Bills	HD-015	FollowTheMoney	Ballotpedia	VoteSmart
Representative Jack Franks [D]	Cosponsor	Sponsored Bills	HD-063	FollowTheMoney	Ballotpedia	VoteSmart
Representative Kelly Burke [D]	Cosponsor	Sponsored Bills	HD-036	FollowTheMoney	Ballotpedia	VoteSmart
Representative Camille Lilly [D]	Cosponsor	Sponsored Bills	HD-078	FollowTheMoney	Ballotpedia	VoteSmart

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