Bill Text: IL SB1300 | 2019-2020 | 101st General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Amends the Illinois Pension Code. Creates the Police Officers' Pension Investment Fund and the Firefighters' Pension Investment Fund. Provides for the transfer of the assets and investment authority of downstate police and downstate firefighter pension funds to the Police Officers' Pension Investment Fund and the Firefighters' Pension Investment Fund. Contains provisions concerning the composition of the board of the investment funds; powers and duties; reporting and recordkeeping; auditing of downstate police and downstate firefighter funds; management of investments; and rulemaking. Reduces the amount of training required for trustees under the Downstate Police and Downstate Firefighter Articles. Makes changes to the calculation of certain survivor's benefits for Tier 2 police and firefighters, the calculation of "final average salary" for Tier 2 police and firefighters, and to the limitation on salary applicable to Tier 2 police and firefighters. Makes conforming and other changes. In the Illinois Municipal Retirement Fund (IMRF) Article, authorizes certain surviving spouses of annuitants to re-establish rights to a surviving spouse annuity. In the State Employee Article, provides that the alternative retirement annuity provisions apply to a Tier 2 conservation police officer, investigator for the Secretary of State, Commerce Commission police officer, or arson investigator and authorizes those persons to establish up to 8 years of eligible creditable service for past service. Authorizes a State Policeman to elect to establish up to 5 years of eligible creditable service under the alternative retirement annuity formula for service as a full-time law enforcement officer outside of Illinois. In the State Universities Article: makes changes concerning the retirement age for certain Tier 2 members who have at least 20 years of service as a police officer or firefighter; and provides that the chairperson of the Board shall be appointed by the Governor from among the trustees (instead of the Chairperson of the Board of Higher Education acting as chairperson of the board of trustees). In the Downstate Teacher Article: adds a member of the board of trustees to be appointed by the Governor; adds a member of the board of trustees who is a teacher and elected by the contributing members; provides that the president of the board shall be appointed by the Governor from among the trustees (instead of the Superintendent of Education serving as president of the board); and provides that not more than 4 of the 5 active teachers elected to the Board of Trustees may be active members of the same statewide teacher organization. Amends the Illinois Finance Authority Act. Adds costs incurred in connection with the transition process to the definition of "public purpose project". Authorizes the Illinois Finance Authority to make loans to the Police Officers' Pension Investment Fund and the Firefighters' Pension Investment Fund. Makes other changes. Amends the Local Government Officer Compensation Act. Provides that language reducing an elected officer's compensation to zero if he or she is receiving specified pension benefits from the Illinois Municipal Retirement Fund does not apply to a unit of local government that has adopted a specified ordinance or resolution effective prior to January 1, 2019. Amends the Illinois Vehicle Code. Provides that a Capitol Police Investigator (instead of a Capitol Police Investigator who began employment on or after January 1, 2011) may not be retained in service after he or she has reached 65 years of age. Amends the State Mandates Act to require implementation without reimbursement. Effective January 1, 2020.
Spectrum: Moderate Partisan Bill (Democrat 8-2)
Status: (Passed) 2019-12-18 - Public Act . . . . . . . . . 101-0610 [SB1300 Detail]
Download: Illinois-2019-SB1300-Introduced.html
Bill Title: Amends the Illinois Pension Code. Creates the Police Officers' Pension Investment Fund and the Firefighters' Pension Investment Fund. Provides for the transfer of the assets and investment authority of downstate police and downstate firefighter pension funds to the Police Officers' Pension Investment Fund and the Firefighters' Pension Investment Fund. Contains provisions concerning the composition of the board of the investment funds; powers and duties; reporting and recordkeeping; auditing of downstate police and downstate firefighter funds; management of investments; and rulemaking. Reduces the amount of training required for trustees under the Downstate Police and Downstate Firefighter Articles. Makes changes to the calculation of certain survivor's benefits for Tier 2 police and firefighters, the calculation of "final average salary" for Tier 2 police and firefighters, and to the limitation on salary applicable to Tier 2 police and firefighters. Makes conforming and other changes. In the Illinois Municipal Retirement Fund (IMRF) Article, authorizes certain surviving spouses of annuitants to re-establish rights to a surviving spouse annuity. In the State Employee Article, provides that the alternative retirement annuity provisions apply to a Tier 2 conservation police officer, investigator for the Secretary of State, Commerce Commission police officer, or arson investigator and authorizes those persons to establish up to 8 years of eligible creditable service for past service. Authorizes a State Policeman to elect to establish up to 5 years of eligible creditable service under the alternative retirement annuity formula for service as a full-time law enforcement officer outside of Illinois. In the State Universities Article: makes changes concerning the retirement age for certain Tier 2 members who have at least 20 years of service as a police officer or firefighter; and provides that the chairperson of the Board shall be appointed by the Governor from among the trustees (instead of the Chairperson of the Board of Higher Education acting as chairperson of the board of trustees). In the Downstate Teacher Article: adds a member of the board of trustees to be appointed by the Governor; adds a member of the board of trustees who is a teacher and elected by the contributing members; provides that the president of the board shall be appointed by the Governor from among the trustees (instead of the Superintendent of Education serving as president of the board); and provides that not more than 4 of the 5 active teachers elected to the Board of Trustees may be active members of the same statewide teacher organization. Amends the Illinois Finance Authority Act. Adds costs incurred in connection with the transition process to the definition of "public purpose project". Authorizes the Illinois Finance Authority to make loans to the Police Officers' Pension Investment Fund and the Firefighters' Pension Investment Fund. Makes other changes. Amends the Local Government Officer Compensation Act. Provides that language reducing an elected officer's compensation to zero if he or she is receiving specified pension benefits from the Illinois Municipal Retirement Fund does not apply to a unit of local government that has adopted a specified ordinance or resolution effective prior to January 1, 2019. Amends the Illinois Vehicle Code. Provides that a Capitol Police Investigator (instead of a Capitol Police Investigator who began employment on or after January 1, 2011) may not be retained in service after he or she has reached 65 years of age. Amends the State Mandates Act to require implementation without reimbursement. Effective January 1, 2020.
Spectrum: Moderate Partisan Bill (Democrat 8-2)
Status: (Passed) 2019-12-18 - Public Act . . . . . . . . . 101-0610 [SB1300 Detail]
Download: Illinois-2019-SB1300-Introduced.html
| |||||||||||||||||||||||||
| |||||||||||||||||||||||||
| |||||||||||||||||||||||||
| |||||||||||||||||||||||||
| |||||||||||||||||||||||||
1 | AN ACT concerning public employee benefits.
| ||||||||||||||||||||||||
2 | Be it enacted by the People of the State of Illinois,
| ||||||||||||||||||||||||
3 | represented in the General Assembly:
| ||||||||||||||||||||||||
4 | Section 5. The Illinois Pension Code is amended by changing | ||||||||||||||||||||||||
5 | Section 9-169 as follows:
| ||||||||||||||||||||||||
6 | (40 ILCS 5/9-169) (from Ch. 108 1/2, par. 9-169)
| ||||||||||||||||||||||||
7 | Sec. 9-169. Financing - Tax levy. | ||||||||||||||||||||||||
8 | (a) The county board shall levy a
tax annually upon all | ||||||||||||||||||||||||
9 | taxable property in the county at the rate that
will produce a | ||||||||||||||||||||||||
10 | sum which, when added to the amounts deducted from the salaries
| ||||||||||||||||||||||||
11 | of the employees or otherwise contributed by them is sufficient
| ||||||||||||||||||||||||
12 | for the requirements of this Article.
| ||||||||||||||||||||||||
13 | For the years before 1962 the tax rate shall be as provided | ||||||||||||||||||||||||
14 | in "The
1925 Act". For the years 1962 and 1963 the tax rate | ||||||||||||||||||||||||
15 | shall be not more
than .0200 per cent; for the years 1964 and | ||||||||||||||||||||||||
16 | 1965 the tax rate shall be
not more than .0202 per cent; for | ||||||||||||||||||||||||
17 | the years 1966 and 1967 the tax rate
shall be not more than | ||||||||||||||||||||||||
18 | .0207 per cent; for the year 1968 the tax rate
shall be not | ||||||||||||||||||||||||
19 | more than .0220 per cent; for the year 1969 the tax rate
shall | ||||||||||||||||||||||||
20 | be not more than .0233 per cent; for the year 1970 the tax rate
| ||||||||||||||||||||||||
21 | shall be not more than .0255 per cent; for the year 1971 the | ||||||||||||||||||||||||
22 | tax rate
shall be not more than .0268 per cent of the value, as | ||||||||||||||||||||||||
23 | equalized or
assessed by the Department of Revenue upon all |
| |||||||
| |||||||
1 | taxable
property in the county. Beginning with the year 1972 | ||||||
2 | and for each year
thereafter the county shall levy a tax | ||||||
3 | annually at a rate on the dollar
of the value, as equalized or | ||||||
4 | assessed by the Department of Revenue
of all taxable property | ||||||
5 | within the county that will
produce, when extended, not to | ||||||
6 | exceed an amount equal to the total
amount of contributions | ||||||
7 | made by the employees to the
fund in the calendar year 2 years | ||||||
8 | prior to the year for which the annual
applicable tax is levied | ||||||
9 | multiplied by .8 for the years 1972 through
1976; by .8 for the | ||||||
10 | year 1977; by .87 for the year 1978; by .94 for the
year 1979; | ||||||
11 | by 1.02 for the year 1980 and by 1.10 for the year 1981 and
by | ||||||
12 | 1.18 for the year 1982 and by 1.36 for the year 1983 and by 1.54 | ||||||
13 | for
the year 1984 and for each year thereafter.
| ||||||
14 | This tax shall be levied and collected in like manner with | ||||||
15 | the
general taxes of the county, and shall be in addition to | ||||||
16 | all other taxes
which the county is authorized to levy upon the | ||||||
17 | aggregate valuation of
all taxable property within the county | ||||||
18 | and shall be exclusive of and in
addition to the amount of tax | ||||||
19 | the county is authorized to levy for
general purposes under any | ||||||
20 | laws which may limit the amount of tax which
the county may | ||||||
21 | levy for general purposes. The county clerk, in reducing
tax | ||||||
22 | levies under any Act concerning the levy and extension of | ||||||
23 | taxes,
shall not consider this tax as a part of the general tax | ||||||
24 | levy for county
purposes, and shall not include it within any | ||||||
25 | limitation of the per cent
of the assessed valuation upon which | ||||||
26 | taxes are required to be extended
for the county. It is lawful |
| |||||||
| |||||||
1 | to extend this tax in addition to the
general county rate fixed | ||||||
2 | by statute, without being authorized as
additional by a vote of | ||||||
3 | the people of the county.
| ||||||
4 | Revenues derived from this tax shall be paid to the | ||||||
5 | treasurer of the
county and held by him for the benefit of the | ||||||
6 | fund.
| ||||||
7 | If the payments on account of taxes are insufficient during | ||||||
8 | any year
to meet the requirements of this Article, the county | ||||||
9 | may issue tax
anticipation warrants against the current tax | ||||||
10 | levy.
| ||||||
11 | (b) By January 10, annually, the board shall notify the | ||||||
12 | county board
of the requirement of this Article that this tax | ||||||
13 | shall be levied. The
board shall make an annual determination
| ||||||
14 | of the required county contributions, and shall certify the | ||||||
15 | results
thereof to the county board.
| ||||||
16 | (c) The various sums to be contributed by the county board | ||||||
17 | and
allocated for the purposes of this Article and any interest | ||||||
18 | to be
contributed by the county shall be taken from the revenue | ||||||
19 | derived from
this tax or from any revenue source, including, | ||||||
20 | but not limited to, other tax revenue, proceeds of county | ||||||
21 | borrowings, or State or federal funds. and no money of the | ||||||
22 | county derived from any source other than
the levy and | ||||||
23 | collection of this tax or the sale of tax anticipation
| ||||||
24 | warrants, except state or federal funds contributed for annuity | ||||||
25 | and
benefit purposes for employees of a county department of | ||||||
26 | public aid
under "The Illinois Public Aid Code", approved April |
| |||||||
| |||||||
1 | 11, 1967, as now or
hereafter amended, may be used to provide | ||||||
2 | revenue for the fund.
| ||||||
3 | If it is not possible or practicable for the county to make
| ||||||
4 | contributions for age and service annuity and widow's annuity
| ||||||
5 | concurrently with the employee contributions made for such | ||||||
6 | purposes,
such county shall make such contributions as soon as | ||||||
7 | possible and
practicable thereafter with interest thereon at | ||||||
8 | the effective rate until
the time it shall be made.
| ||||||
9 | (d) With respect to employees whose wages are funded as | ||||||
10 | participants
under the Comprehensive Employment and Training | ||||||
11 | Act of 1973, as amended
(P.L. 93-203, 87 Stat. 839, P.L. | ||||||
12 | 93-567, 88 Stat. 1845), hereinafter
referred to as CETA, | ||||||
13 | subsequent to October 1, 1978, and in instances
where the board | ||||||
14 | has elected to establish a manpower program reserve, the
board | ||||||
15 | shall compute the amounts necessary to be credited to the | ||||||
16 | manpower
program reserves established and maintained as herein | ||||||
17 | provided, and
shall make a periodic determination of the amount | ||||||
18 | of required
contributions from the County to the reserve to be | ||||||
19 | reimbursed by the
federal government in accordance with rules | ||||||
20 | and regulations established
by the Secretary of the United | ||||||
21 | States Department of Labor or his
designee, and certify the | ||||||
22 | results thereof to the County Board. Any such
amounts shall | ||||||
23 | become a credit to the County and will be used to reduce
the | ||||||
24 | amount which the County would otherwise contribute during | ||||||
25 | succeeding
years for all employees.
| ||||||
26 | (e) In lieu of establishing a manpower program reserve with |
| |||||||
| |||||||
1 | respect
to employees whose wages are funded as participants | ||||||
2 | under the
Comprehensive Employment and Training Act of 1973, as | ||||||
3 | authorized by
subsection (d), the board may elect to establish | ||||||
4 | a special County
contribution rate for all such employees. If | ||||||
5 | this option is elected, the
County shall contribute to the Fund | ||||||
6 | from federal funds provided under
the Comprehensive Employment | ||||||
7 | and Training Act program at the special
rate so established and | ||||||
8 | such contributions shall become a credit to the
County and be | ||||||
9 | used to reduce the amount which the County would otherwise
| ||||||
10 | contribute during succeeding years for all employees.
| ||||||
11 | (Source: P.A. 95-369, eff. 8-23-07.)
| ||||||
12 | Section 99. Effective date. This Act takes effect upon | ||||||
13 | becoming law.
|