IL HB0436 | 2017-2018 | 100th General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 3-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Republican 3-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Pension Code. With respect to the 5 State-funded Retirement Systems: requires each System to prepare and implement a Tier 3 plan by July 1, 2018 that aggregates State and employee contributions in individual participant accounts which are used for payouts after retirement. Provides that a Tier 1 or Tier 2 participant may irrevocably elect to participate in the Tier 3 plan instead of the defined benefit plan and may also elect to terminate all participation in the defined benefit plan and to have a specified amount credited to his or her account under the Tier 3 plan. Makes related changes in the State Employees Group Insurance Act of 1971. In the Downstate Teachers, State Employees, and State Universities Articles, authorizes a person to elect not to participate or to terminate participation in those Systems. In the General Assembly and Judges Articles, authorizes a participant to terminate his or her participation in the System. In the Illinois Municipal Retirement Fund (IMRF), State Employees, State Universities, and Downstate Teachers Articles, for participants who first become participants on or after the effective date, prohibits (i) payments for unused sick or vacation time from being used to calculate pensionable salary and (ii) unused sick or vacation time from being used to establish service credit. In the Downstate Teachers Article, prohibits an employer from making employee contributions on behalf of an employee, except for the sole purpose of allowing an employee to make pre-tax contributions. Amends the Illinois Educational Labor Relations Act to prohibit collective bargaining over that prohibition. Effective immediately.
Title
PENCD-STATE SYS-TIER 3 PLAN
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2019-01-08 | House | Session Sine Die |
| 2017-03-31 | House | Rule 19(a) / Re-referred to Rules Committee |
| 2017-02-09 | House | Added Co-Sponsor Rep. Thomas Morrison |
| 2017-02-02 | House | Assigned to Personnel & Pensions Committee |
| 2017-01-24 | House | Added Chief Co-Sponsor Rep. Allen Skillicorn |
| 2017-01-17 | House | Referred to Rules Committee |
| 2017-01-17 | House | First Reading |
| 2017-01-13 | House | Filed with the Clerk by Rep. Jeanne M Ives |
Code Citations
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=436&GAID=14&DocTypeID=HB&SessionID=91&GA=100 |
| Text | https://www.ilga.gov/legislation/100/HB/10000HB0436.htm |
