IL HB5843 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on May 13 2024 - 25% progression
Action: 2024-05-14 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on May 13 2024 - 25% progression
Action: 2024-05-14 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Downstate Police and Downstate Firefighter Articles of the Illinois Pension Code. Provides that the annual employer contribution shall include an amount sufficient to bring the total assets of the pension fund up to 90% of the total actuarial liabilities of the pension fund by the end of municipal fiscal year 2050 (instead of 2040). Makes a conforming change. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Title
PENCD-DWNST POL&FIRE-FINANCING
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2024-05-14 | House | Referred to Rules Committee |
| 2024-05-14 | House | First Reading |
| 2024-05-13 | House | Filed with the Clerk by Rep. Laura Faver Dias |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 30 | 805 | 8.48 | New Code | See Bill Text |
| 40 | 5 | 3-125 | Amended Code | Citation Text |
| 40 | 5 | 4-118 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5843&GAID=17&DocTypeID=HB&SessionID=112&GA=103 |
| Text | https://www.ilga.gov/legislation/103/HB/10300HB5843.htm |
