Bill Text: IL SB2984 | 2009-2010 | 96th General Assembly | Introduced

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Bill Title: Amends the IMRF Article of the Illinois Pension Code. Provides that, within 6 months after the adoption of any system under the Code that would permit the establishment of a multi-tier benefit program, the governing board of the Illinois Municipal Retirement Fund shall adopt a system that requires newly hired employees to be enrolled in a new benefit program substantially similar to the program adopted under the Code. Effective immediately.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced - Dead) 2010-03-08 - Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments [SB2984 Detail]

Download: Illinois-2009-SB2984-Introduced.html

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96TH GENERAL ASSEMBLY State of Illinois 2009 and 2010 SB2984 Introduced 2/2/2010, by Sen. William R. Haine SYNOPSIS AS INTRODUCED:
40 ILCS 5/7-225 new
Amends the IMRF Article of the Illinois Pension Code. Provides that, within 6 months after the adoption of any system under the Code that would permit the establishment of a multi-tier benefit program, the governing board of the Illinois Municipal Retirement Fund shall adopt a system that requires newly hired employees to be enrolled in a new benefit program substantially similar to the program adopted under the Code. Effective immediately.
LRB096 18030 AMC 33402 b
PENSION IMPACT NOTE ACT MAY APPLY
A BILL FOR
SB2984 LRB096 18030 AMC 33402 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 7-225 as follows:
(40 ILCS 5/7-225 new)
Sec. 7-225. Multi-tier benefit program. Within 6 months
after the adoption of any system under this Code that would
permit the establishment of a multi-tier benefit program, the
governing board of the Illinois Municipal Retirement Fund shall
adopt a system that requires newly hired employees to be
enrolled in a new benefit program substantially similar to the
program adopted under this Code.
Section 99. Effective date. This Act takes effect upon
becoming law.