Bill Text: IL HB5450 | 2023-2024 | 103rd General Assembly | Engrossed

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Bill Title: Amends the State Universities Retirement System Article of the Illinois Pension Code. With respect to a Section concerning reports on cost reduction, removes provisions requiring that on or before November 15th of each year, the Board of Higher Education, in conjunction with the Governor's Office of Management and Budget, prepare a report showing, on a fiscal year by fiscal year basis, the amount by which the costs associated with compensable sick leave have been reduced as a result of the termination of compensable sick leave accrual on and after January 1, 1998 by employees of higher education institutions who are participants in the System. Amends the Higher Education Veterans Service Act. In provisions concerning reporting, provides that each October 15, each public college and university shall report to the Board of Higher Education, in collaboration with the Illinois Community College Board, on the expenditures for the prior fiscal year for the programs and services related to the efforts of the public college or university in attracting, recruiting, and retaining veterans and military personnel (instead of providing that each September 1, each college and university that is required to have a Coordinator of Veterans and Military Personnel Student Services shall report to the Board of Higher Education on the fiscal impact of the programs and services related to the requirements of the Act and on the efforts of the public college or university in attracting, recruiting, and retaining veterans and military personnel). Requires the Board's report to be filed with the Executive Director of the Illinois Community College Board.

Spectrum: Partisan Bill (Democrat 6-0)

Status: (Engrossed) 2024-04-18 - Placed on Calendar Order of First Reading April 30, 2024 [HB5450 Detail]

Download: Illinois-2023-HB5450-Engrossed.html

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AN ACT concerning education.
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
changing Section 15-158.3 as follows:
(40 ILCS 5/15-158.3)
Sec. 15-158.3. Reports on cost reduction; effect on
retirement at any age with 30 years of service.
(a) On or before November 15, 2001 and on or before
November 15th of each year thereafter, the Board shall have
the System's actuary prepare a report showing, on a fiscal
year by fiscal year basis, the actual rate of participation in
the self-managed plan authorized by Section 15-158.2, (i) by
employees of the System's covered higher educational
institutions who were hired on or after the implementation
date of the self-managed plan and (ii) by other System
participants.
(b) (Blank). On or before November 15th of 2001 and on or
before November 15th of each year thereafter, the Illinois
Board of Higher Education, in conjunction with the Bureau of
the Budget (now Governor's Office of Management and Budget)
shall prepare a report showing, on a fiscal year by fiscal year
basis, the amount by which the costs associated with

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compensable sick leave have been reduced as a result of the
termination of compensable sick leave accrual on and after
January 1, 1998 by employees of higher education institutions
who are participants in the System.
(c) (Blank).
(d) (Blank). The report required under subsection (b)
shall be disseminated to the Board, the Pension Laws
Commission (until it ceases to exist), the Commission on
Government Forecasting and Accountability, the Illinois Board
of Higher Education, and the Governor.
(e) (Blank). The report required under subsection (b)
shall be taken into account by the Pension Laws Commission (or
its successor, the Commission on Government Forecasting and
Accountability) in making any recommendation to extend by
legislation beyond December 31, 2002 the provision that allows
a System participant to retire at any age with 30 or more years
of service as authorized in Section 15-135.
(Source: P.A. 102-19, eff. 7-1-21.)
Section 10. The Higher Education Veterans Service Act is
amended by changing Section 20 as follows:
(110 ILCS 49/20)
Sec. 20. Expenditure Fiscal impact and reporting. Each
October 15 September 1, each public college and university
that is required to have a Coordinator of Veterans and

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