Bill Text: IL HB2016 | 2011-2012 | 97th General Assembly | Introduced

---

Bill Title: Amends the General Assembly Article of the Illinois Pension Code. Provides that active participants who first became participants in the fund before January 1, 2011 shall, for periods of service on and after the effective date of the amendatory Act, be eligible only for the benefits provided to participants who first became participants on or after January 1, 2011. Specifies that the retirement annuities of active participants who were participants in the fund before January 1, 2011 shall be calculated based on a weighted average of the benefits earned before and after the effective date of the amendatory Act.

Sponsorship: Partisan Bill (Republican 1)

Status: (Failed) 2013-01-08 - Session Sine Die [HB2016 Detail]

Download: Illinois-2011-HB2016-Introduced.html

---

97TH GENERAL ASSEMBLY State of Illinois 2011 and 2012 HB2016 Introduced , by Rep. Dave Winters SYNOPSIS AS INTRODUCED:
40 ILCS 5/2-163 new
Amends the General Assembly Article of the Illinois Pension Code. Provides that active participants who first became participants in the fund before January 1, 2011 shall, for periods of service on and after the effective date of the amendatory Act, be eligible only for the benefits provided to participants who first became participants on or after January 1, 2011. Specifies that the retirement annuities of active participants who were participants in the fund before January 1, 2011 shall be calculated based on a weighted average of the benefits earned before and after the effective date of the amendatory Act.
LRB097 09231 JDS 49366 b
FISCAL NOTE ACT MAY APPLY PENSION IMPACT NOTE ACT MAY APPLY
A BILL FOR
HB2016 LRB097 09231 JDS 49366 b
AN ACT concerning public employee benefits.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Pension Code is amended by adding
Section 2-163 as follows:
(40 ILCS 5/2-163 new)
Sec. 2-163. Blended pension benefit. Beginning on the
effective date of this Section, active participants who first
became participants in the fund before January 1, 2011 shall,
for periods of service on and after the effective date of this
Section, be eligible only for the benefits provided to
participants who first became participants on or after January
1, 2011. However, the retirement annuities of active
participants who were participants in the fund before January
1, 2011 shall be calculated based on a weighted average of the
benefits earned before and after the effective date of this
Section.