Bill Text: IL HB5837 | 2013-2014 | 98th General Assembly | Introduced

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Bill Title: Amends the General Assembly Article of the Illinois Pension Code. Restricts participation in the General Assembly Retirement System to persons who are receiving annuities from the System on January 1, 2015. Terminates participation by all other persons. Provides that annuities in payment status on January 1, 2015 shall continue to be paid by the System, along with any increases provided by law. Provides that no new or additional benefits may be granted or paid by the System on or after January 1, 2015, including any refund of contributions. Provides that no new transfers of credits into or out of the System shall be made on or after that date. Provides that these provisions control over any other law. Effective January 1, 2015.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2014-12-03 - Session Sine Die [HB5837 Detail]

Download: Illinois-2013-HB5837-Introduced.html

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98TH GENERAL ASSEMBLY State of Illinois 2013 and 2014 HB5837 Introduced , by Rep. Darlene J. Senger SYNOPSIS AS INTRODUCED:
40 ILCS 5/2-101 from Ch. 108 1/2, par. 2-101
Amends the General Assembly Article of the Illinois Pension Code. Restricts participation in the General Assembly Retirement System to persons who are receiving annuities from the System on January 1, 2015. Terminates participation by all other persons. Provides that annuities in payment status on January 1, 2015 shall continue to be paid by the System, along with any increases provided by law. Provides that no new or additional benefits may be granted or paid by the System on or after January 1, 2015, including any refund of contributions. Provides that no new transfers of credits into or out of the System shall be made on or after that date. Provides that these provisions control over any other law. Effective January 1, 2015.
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FISCAL NOTE ACT MAY APPLY PENSION IMPACT NOTE ACT MAY APPLY
A BILL FOR
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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 changing
Sections 2-101 and 2-105 as follows:
(40 ILCS 5/2-101) (from Ch. 108 1/2, par. 2-101)
Sec. 2-101. Creation and termination of system.
(a) A retirement system is created to provide retirement
annuities, survivor's annuities and other benefits for certain
members of the General Assembly, certain elected state
officials, and their beneficiaries.
The system shall be known as the "General Assembly
Retirement System". All its funds and property shall be a trust
separate from all other entities, maintained for the purpose of
securing payment of annuities and benefits under this Article.
(b) Notwithstanding any other provision of law, beginning
January 1, 2015, participation in the retirement system created
under this Article is restricted to persons who are receiving
annuities from the System on that date. Participation by all
other persons is terminated on that date, and no new
participants may be accepted on or after that date.
(c) Notwithstanding any other provision of law, all
annuities in payment status on January 1, 2015 shall continue

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to be paid by the System as provided in this Article, including
any increases that may be provided for by law. No new or
additional benefits may be granted or paid by the System on or
after January 1, 2015, including without limitation any refund
of contributions.
(d) Notwithstanding any other provision of law, no
transfers of credits into or out of the System shall be made on
or after January 1, 2015.
(e) In the event of a conflict between this Section and any
other law or provision of this Code, this Section shall
control.
(Source: P.A. 83-1440.)
Section 99. Effective date. This Act takes effect January
1, 2015.