Bill Text: IL HB2490 | 2017-2018 | 100th General Assembly | Introduced


Bill Title: Amends the Downstate Police and Downstate Firefighter Articles of the Illinois Pension Code. Provides that, subject to appropriation, beginning with fiscal year 2018, a municipality that has a fund created after July 1, 2012 may apply to the Department of Insurance for reimbursement for administrative costs associated with the creation and administration of the fund, including, but not limited to, legal fees, actuarial analyses, continuing education for board members, and other qualified costs, as determined by the Department of Insurance. Provides that reimbursement may only be made for administrative costs associated with the first 5 years after the fund is created. Provides that a municipality that established a fund pursuant to a referendum is not eligible for reimbursement. Authorizes rulemaking. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2017-03-31 - Rule 19(a) / Re-referred to Rules Committee [HB2490 Detail]

Download: Illinois-2017-HB2490-Introduced.html


100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB2490

Introduced , by Rep. Thomas M. Bennett

SYNOPSIS AS INTRODUCED:
40 ILCS 5/3-144.7 new
40 ILCS 5/4-138.7 new

Amends the Downstate Police and Downstate Firefighter Articles of the Illinois Pension Code. Provides that, subject to appropriation, beginning with fiscal year 2018, a municipality that has a fund created after July 1, 2012 may apply to the Department of Insurance for reimbursement for administrative costs associated with the creation and administration of the fund, including, but not limited to, legal fees, actuarial analyses, continuing education for board members, and other qualified costs, as determined by the Department of Insurance. Provides that reimbursement may only be made for administrative costs associated with the first 5 years after the fund is created. Provides that a municipality that established a fund pursuant to a referendum is not eligible for reimbursement. Authorizes rulemaking. Effective immediately.
LRB100 06904 RPS 16954 b
FISCAL NOTE ACT MAY APPLY
PENSION IMPACT NOTE ACT MAY APPLY

A BILL FOR

HB2490LRB100 06904 RPS 16954 b
1 AN ACT concerning public employee benefits.
2 Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4 Section 5. The Illinois Pension Code is amended by adding
5Sections 3-144.7 and 4-138.7 as follows:
6 (40 ILCS 5/3-144.7 new)
7 Sec. 3-144.7. Reimbursement for certain administrative
8costs. Subject to appropriation, beginning with fiscal year
92018, a municipality that has a fund under this Article that
10was established after July 1, 2012 may apply to the Department
11of Insurance for reimbursement for administrative costs
12associated with the establishment and administration of that
13fund, including, but not limited to, legal fees, actuarial
14analyses, continuing education for board members, and other
15qualified costs, as determined by the Department of Insurance.
16Reimbursement under this Section may only be made for
17administrative costs associated with the first 5 years after
18the establishment of the fund. This Section does not apply to a
19municipality that established a fund pursuant to a referendum
20held under Section 3-145. The Department of Insurance shall
21adopt rules to implement this Section.
22 (40 ILCS 5/4-138.7 new)

HB2490- 2 -LRB100 06904 RPS 16954 b
1 Sec. 4-138.7. Reimbursement for certain administrative
2costs. Subject to appropriation, beginning with fiscal year
32018, a municipality that has a fund under this Article that
4was established after July 1, 2012 may apply to the Department
5of Insurance for reimbursement for administrative costs
6associated with the establishment and administration of that
7fund, including, but not limited to, legal fees, actuarial
8analyses, continuing education for board members, and other
9qualified costs, as determined by the Department of Insurance.
10Reimbursement under this Section may only be made for
11administrative costs associated with the first 5 years after
12the establishment of the fund. This Section does not apply to a
13municipality that established a fund pursuant to a referendum
14held under Section 4-141. The Department of Insurance shall
15adopt rules to implement this Section.
16 Section 99. Effective date. This Act takes effect upon
17becoming law.
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