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 Bill Status of sb0512  97th General Assembly

Short Description:  PUBLIC EMPLOYEE BENEFITS-TECH

Sponsors
 
John J. Cullerton
Sponsors
 
Tom Cross - Michael J. Madigan - Darlene J. Senger - Ed Sullivan, Jr. - Kevin A. McCarthy, Timothy L. Schmitz, Joe Sosnowski and Thomas Morrison)
from Ch. 108 1/2, par. 1-101.1 


Synopsis As Introduced
Amends the Illinois Pension Code. Makes a technical change in a Section concerning definitions.

 Pension Note (Government Forecasting & Accountability)
 SB 512 will have no fiscal impact upon any public pension fund or retirement system in Illinois.

House Committee Amendment No. 1
Deletes reference to:
 
Adds reference to:
from Ch. 48, par. 1615 
 
 
 
 
 
 
from Ch. 108 1/2, par. 2-124 
 
from Ch. 108 1/2, par. 2-126 
 
 
 
 
from Ch. 108 1/2, par. 8-125 
from Ch. 108 1/2, par. 8-173 
 
 
 
 
 
from Ch. 108 1/2, par. 8-251 
 
 
 
 
from Ch. 108 1/2, par. 9-128.1 
from Ch. 108 1/2, par. 9-133 
from Ch. 108 1/2, par. 9-160 
from Ch. 108 1/2, par. 9-164 
from Ch. 108 1/2, par. 9-169 
from Ch. 108 1/2, par. 9-170 
 
 
 
 
 
from Ch. 108 1/2, par. 9-174 
from Ch. 108 1/2, par. 9-176 
from Ch. 108 1/2, par. 9-185 
from Ch. 108 1/2, par. 9-219 
from Ch. 108 1/2, par. 9-220 
from Ch. 108 1/2, par. 9-235 
 
from Ch. 108 1/2, par. 10-103 
from Ch. 108 1/2, par. 10-107 
 
 
 
 
 
 
from Ch. 108 1/2, par. 11-124 
 
 
 
 
from Ch. 108 1/2, par. 11-169 
from Ch. 108 1/2, par. 11-170 
from Ch. 108 1/2, par. 11-230 
 
from Ch. 108 1/2, par. 12-116 
 
 
 
 
 
 
from Ch. 108 1/2, par. 12-149 
from Ch. 108 1/2, par. 12-150 
 
from Ch. 108 1/2, par. 12-167 
from Ch. 108 1/2, par. 12-168 
from Ch. 108 1/2, par. 12-169 
from Ch. 108 1/2, par. 12-183 
from Ch. 108 1/2, par. 12-190.3 
 
 
 
 
 
 
from Ch. 108 1/2, par. 14-133 
 
 
from Ch. 108 1/2, par. 15-113.6 
from Ch. 108 1/2, par. 15-116 
from Ch. 108 1/2, par. 15-117 
from Ch. 108 1/2, par. 15-134 
 
 
 
 
from Ch. 108 1/2, par. 15-146 
from Ch. 108 1/2, par. 15-155 
 
from Ch. 108 1/2, par. 15-157 
 
 
from Ch. 108 1/2, par. 16-122 
 
 
 
 
from Ch. 108 1/2, par. 16-136.2 
from Ch. 108 1/2, par. 16-152 
from Ch. 108 1/2, par. 16-158 
 
 
 
 
 
 
 
 
from Ch. 108 1/2, par. 17-116 
from Ch. 108 1/2, par. 17-130 
 
 
 
 
from Ch. 108 1/2, par. 17-149.1 
 
 
from Ch. 108 1/2, par. 18-131 
from Ch. 108 1/2, par. 20-121 
from Ch. 108 1/2, par. 20-123 
from Ch. 108 1/2, par. 20-124 
from Ch. 108 1/2, par. 20-125 
from Ch. 108 1/2, par. 20-131 

Replaces everything after the enacting clause. Amends the Articles of the Illinois Pension Code that create the State-funded retirement systems, other than the Judges Article, as well as various Articles affecting employees of Cook County and Chicago, and the Reciprocal Act. Requires current participants in the affected systems to make an election of one of the following: (i) the traditional benefit package under the applicable Article of the Pension Code, (ii) the existing benefit package for new hires, or (iii) a self-managed plan. Authorizes persons who become participants on or after January 1, 2011 to elect either: (i) the benefit package for new hires or (ii) the self-managed plan. Sets forth the requirements for the self-managed plan. Specifies the required employee contributions for persons who make each type of election. In the Chicago Park District Article, provides that, beginning January 1, 2012, the fiscal year of the Park Employees' and Retirement Board Employees' Annuity and Benefit Fund will run from January 1 to December 31 (instead of July 1 to June 30) and makes corresponding changes in other provisions of the Article. In various Articles affecting employees of Cook County and Chicago, freezes the tax levy rate. Makes changes concerning the required State contributions for the 5 State-funded systems. Amends the Illinois Public Labor Relations Act to provide that the changes made by the amendatory Act control when there is a conflict with the Illinois Public Labor Relations Act. Makes other changes. Effective immediately.

 Balanced Budget Note (Office of Management and Budget)
 SB 512 has no fiscal impact on the State.

 Land Conveyance Appraisal Note (Dept. of Transportation)
 No land conveyances are included in this bill, therefore, there are no appraisals to be filed.

 Correctional Note (Dept of Corrections)
 This legislation has no fiscal or population impact on the Department.

 Correctional Note, House Committee Amendment No. 1 (Dept of Corrections)
 This legislation has no fiscal or population impact on the Department.

 Land Conveyance Appraisal Note, House Committee Amendment No. 1 (Dept. of Transportation)
 No land conveyances are included in this bill, therefore, there are no appraisals to be filed.

 Balanced Budget Note, House Committee Amendment No. 1 (Office of Management and Budget)
 Since the changes in member benefit accruals and/or retirement contributions do not take effect until Fiscal Year 2013, SB 512 (H-AM 1) has no impact on the State's Fiscal Year 2012 budget.

 Judicial Note, House Committee Amendment No. 1 (Admin Office of the Illinois Courts)
 This bill would neither increase nor decrease the number of judges needed in the State.

 State Debt Impact Note, House Committee Amendment No. 1 (Government Forecasting & Accountability)
 SB 512 (H-AM 1) would not change the amount of authorization for any type of State-issued or State-supported bond, and, therefore, would not affect the level of State indebtedness.

 Pension Note, House Committee Amendment No. 1 (Government Forecasting & Accountability)
 Tables 1 and 2 on Pages 4 and 5 of this Pension Impact Note show the results of a cost study performed by COGFA’s actuary on the long-term impact of SB 512 on the Teachers’ Retirement System (TRS). The actuarial assumptions that were utilized in performing this cost study are outlined on Page 3 of this Impact Note. Below are some highlights from the cost study of SB 512: (1) State contributions to TRS will increase by $653.9 million in FY 2013 when compared to current law; (2) State contributions to TRS will be higher than under current law for Fiscal Years 2013 through 2019. Since State contributions are projected to increase under SB 512 at a considerably slower rate than under current law (2.3% compared to 4.4%), State contributions need to start at an initially higher amount so that with the slower rate of increase they will produce the amount needed to attain a 90% funding ratio in FY 2045. After several years, the slower rate of increase under SB 512 results in State contributions that will be lower than under current law; (3) When looking at the broad span of the entire funding period under P.A. 88-593, State contributions to TRS will be reduced by $47.9 billion between FY 2013 through FY 2045 when compared to current law. This long-term aggregate reduction in contributions is premised upon the State making its annual statutorily-required contributions (as shown in the column labeled "Total State Contribution" in Table 1 on Page 4) . State contributions to TRS gradually decline as a percentage of payroll in each year over the period FY 2013 – FY 2045. This is because under SB 512, the major portion of State contribution is to be determined as a level percentage of state revenue, under the assumption that State revenue will increase at the rate of 2.3% per year. Under the actuary’s projections, total payroll increases at the rate of 4.4% per year. Therefore, State contributions are projected to increase at a slower rate than payroll, resulting in State contributions decreasing as a percent of payroll.

 Home Rule Note, House Committee Amendment No. 1 (Dept. of Commerce & Economic Opportunity)
 This bill does not pre-empt home rule authority.

 State Mandates Fiscal Note, House Committee Amendment No. 1 (Dept. of Commerce & Economic Opportunity)
 This bill does not create a State mandate.

 Judicial Note (Admin Office of the Illinois Courts)
 This bill would neither increase nor decrease the number of judges needed in the State.

 Housing Affordability Impact Note (Housing Development Authority)
 This bill will have no effect on the cost of constructing, purchasing, owning, or selling a single-family residence.

 Housing Affordability Impact Note, House Committee Amendment No. 1 (Housing Development Authority)
 This bill will have no effect on the cost of constructing, purchasing, owning, or selling a single-family residence.

House Floor Amendment No. 2
Deletes reference to:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Adds reference to:
from Ch. 108 1/2, par. 2-108.1 
 
from Ch. 108 1/2, par. 14-103.10 
 
 
 
from Ch. 108 1/2, par. 15-136 
 
from Ch. 108 1/2, par. 15-141 
from Ch. 108 1/2, par. 15-154 
 
 
from Ch. 108 1/2, par. 16-133 
 
 

Replaces everything after the enacting clause. Reinserts the provisions of House Amendment No. 1 with changes. Provides that the first election must take place by January 1, 2013 (instead of July 1, 2012) for periods of service on and after July 1, 2013 (instead of on and after January 1, 2013), except in the case of members of the General Assembly Retirement System in which case the election must take place by January 9, 2013 for periods of service after that date. In the General Assembly, State Employees, Downstate Teachers, and State Universities Articles, increases the salary cap for annuity purposes. For the State Employees, Downstate Teachers, and State Universities Articles, moves certain new hire provisions that had been located in the General Provisions Article and makes corresponding changes. In the Cook County and Cook County Forest Preserve Articles, removes provisions increasing the applicable tax levies. In the Cook County Article, removes provisions changing the composition of the Board of Trustees. Makes other changes. Effective July 1, 2012 (instead of immediately).

 State Debt Impact Note, House Floor Amendment No. 2 (Government Forecasting & Accountability)
 SB 512 (H-AM 2) would not change the amount of authorization for any type of State-issued or State-supported bond, and, therefore, would not affect the level of State indebtedness.

 Land Conveyance Appraisal Note, House Floor Amendment No. 2 (Dept. of Transportation)
 No land conveyances are included in this bill, therefore, there are no appraisals to be filed.

 Correctional Note, House Floor Amendment No. 2 (Dept of Corrections)
 This legislation has no fiscal or population impact on the Department.

 State Mandates Fiscal Note, House Floor Amendment No. 2 (Dept. of Commerce & Economic Opportunity)
 This bill does not create a State mandate.

 Home Rule Note, House Floor Amendment No. 2 (Dept. of Commerce & Economic Opportunity)
 This bill does not pre-empt home rule authority.

 Pension Note, House Floor Amendment No. 2 (Government Forecasting & Accountability)
 The precise fiscal impact of SB 512 (H-AM 1) has not yet been determined as the actuarial review is incomplete at this time. The actuarial cost study contained in the Pension Impact Note for HA 1 is not directly applicable to HA 2 as the FY 2013 contributions are explicitly set forth in HA 2 (see Page 3), and the new level-percent-of revenue funding mechanism prescribed by HA 2 does not take effect until FY 2014. However, the actuary notes that the long-term savings shown in the Impact Note for HA 1 will remain substantially the same under HA 2. Near term increases in State contributions for the first 7-10 years can still be expected under HA 2, with a substantially higher State contribution in year one. A revised note will be issued after the actuary completes a cost study that reflects the changes contained in HA 2 to SB 512. A cost of approximately $200,000 will be required to complete each independent actuarial review overseen by the Commission on Government Forecasting & Accountability. A supplemental appropriation will be required for these costs.

 Fiscal Note, House Floor Amendment No. 2 (Government Forecasting & Accountability)
 The precise fiscal impact of SB 512 (H-AM 1) has not yet been determined as the actuarial review is incomplete at this time. The actuarial cost study contained in the Pension Impact Note for HA 1 is not directly applicable to HA 2 as the FY 2013 contributions are explicitly set forth in HA 2 (see Page 3), and the new level-percent-of revenue funding mechanism prescribed by HA 2 does not take effect until FY 2014. However, the actuary notes that the long-term savings shown in the Impact Note for HA 1 will remain substantially the same under HA 2. Near term increases in State contributions for the first 7-10 years can still be expected under HA 2, with a substantially higher State contribution in year one. A revised note will be issued after the actuary completes a cost study that reflects the changes contained in HA 2 to SB 512. A cost of approximately $200,000 will be required to complete each independent actuarial review overseen by the Commission on Government Forecasting & Accountability. A supplemental appropriation will be required for these costs.

 Balanced Budget Note, House Floor Amendment No. 2 (Office of Management and Budget)
 Since the changes in member benefit accruals and/or retirement contributions do not take effect until Fiscal Year 2013 (GARS only) and fiscal year 2014 for the other state systems, SB 512 (H-AM 2) has no impact on the State's Fiscal Year 2012 budget.

 Home Rule Note (Dept. of Commerce & Economic Opportunity)
 This bill does not pre-empt home rule authority.

 State Mandates Fiscal Note (Dept. of Commerce & Economic Opportunity)
 This bill does not create a State mandate.

 Judicial Note, House Floor Amendment No. 2 (Admin Office of the Illinois Courts)
 This bill would neither increase nor decrease the number of judges needed in the State.

 State Debt Impact Note (Government Forecasting & Accountability)
 SB 512 would not change the amount of authorization for any type of State-issued or State-supported bond, and, therefore, would not affect the level of State indebtedness.

 Fiscal Note (Government Forecasting & Accountability)
 SB 512 will have no fiscal impact on the Commission of Government Forecasting and Accountability.

 Fiscal Note, House Committee Amendment No. 1 (Government Forecasting & Accountability)
 A cost of approximately $200,000 will be required to complete each independent actuarial review overseen by the Commission on Government Forecasting and Accountability. A supplemental appropriation will be required for these costs.

 Housing Affordability Impact Note, House Floor Amendment No. 2 (Housing Development Authority)
 This bill will have no effect on the cost of constructing, purchasing, owning, or selling a single-family residence.

Actions 
DateChamber Action
  2/8/2011SenateFiled with Secretary by Sen. John J. Cullerton
  2/8/2011SenateFirst Reading
  2/8/2011SenateReferred to Assignments
  3/9/2011SenateAssigned to Executive
  3/17/2011SenateDo Pass Executive; 015-000-000
  3/17/2011SenatePlaced on Calendar Order of 2nd Reading March 17, 2011
  3/17/2011SenateSecond Reading
  3/17/2011SenatePlaced on Calendar Order of 3rd Reading March 29, 2011
  3/30/2011SenateThird Reading - Passed; 043-011-001
  3/30/2011HouseArrived in House
  3/30/2011HousePlaced on Calendar Order of First Reading
  3/30/2011HouseChief House Sponsor Rep. Michael J. Madigan
  3/30/2011HouseFirst Reading
  3/30/2011HouseReferred to Rules Committee
  4/11/2011HouseAssigned to Executive Committee
  4/27/2011HouseRe-assigned to Personnel and Pensions Committee
  5/13/2011HouseCommittee Deadline Extended-Rule 9(b) May 20, 2011
  5/18/2011HousePension Note Requested by Rep. Naomi D. Jakobsson
  5/20/2011HousePension Note Filed
  5/20/2011HouseFinal Action Deadline Extended-9(b) May 27, 2011
  5/25/2011HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Tom Cross
  5/25/2011HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  5/25/2011HouseHouse Committee Amendment No. 1 Rules Refers to Personnel and Pensions Committee
  5/25/2011HouseAlternate Chief Sponsor Changed to Rep. Tom Cross
  5/25/2011HouseAdded Alternate Chief Co-Sponsor Rep. Michael J. Madigan
  5/25/2011HouseAdded Alternate Chief Co-Sponsor Rep. Darlene J. Senger
  5/25/2011HouseAdded Alternate Chief Co-Sponsor Rep. Ed Sullivan, Jr.
  5/25/2011HouseAdded Alternate Chief Co-Sponsor Rep. Kevin A. McCarthy
  5/25/2011HouseAdded Alternate Co-Sponsor Rep. Timothy L. Schmitz
  5/26/2011HouseBalanced Budget Note Filed
  5/26/2011HouseLand Conveyance Appraisal Note Filed
  5/26/2011HouseHouse Committee Amendment No. 1 Adopted in Personnel and Pensions Committee; by Voice Vote
  5/26/2011HouseDo Pass as Amended / Short Debate Personnel and Pensions Committee; 006-002-001
  5/26/2011HousePlaced on Calendar 2nd Reading - Short Debate
  5/26/2011HouseCorrectional Note Filed
  5/26/2011HouseHouse Committee Amendment No. 1 Correctional Note Filed as Amended
  5/26/2011HouseHouse Committee Amendment No. 1 Pension Note Requested as Amended by Rep. Naomi D. Jakobsson
  5/26/2011HouseHouse Committee Amendment No. 1 Land Conveyance Appraisal Note Filed as Amended
  5/26/2011HouseSecond Reading - Short Debate
  5/26/2011HouseHeld on Calendar Order of Second Reading - Short Debate
  5/26/2011HouseHouse Committee Amendment No. 1 Fiscal Note Requested as Amended by Rep. Jack D. Franks
  5/26/2011HouseHouse Committee Amendment No. 1 Balanced Budget Note Requested as Amended by Rep. Jack D. Franks
  5/26/2011HouseHouse Committee Amendment No. 1 Judicial Note Requested as Amended by Rep. Jack D. Franks
  5/26/2011HouseHouse Committee Amendment No. 1 Pension Note Requested as Amended by Rep. Jack D. Franks
  5/26/2011HouseHouse Committee Amendment No. 1 State Debt Impact Note Requested as Amended by Rep. Jack D. Franks
  5/26/2011HouseAdded Alternate Co-Sponsor Rep. Joe Sosnowski
  5/26/2011HouseHouse Committee Amendment No. 1 Balanced Budget Note Filed as Amended
  5/27/2011HouseHouse Committee Amendment No. 1 Judicial Note Filed as Amended
  5/27/2011HouseHouse Committee Amendment No. 1 State Debt Impact Note Filed as Amended
  5/27/2011HouseHouse Committee Amendment No. 1 Pension Note Filed as Amended
  5/27/2011HouseAdded Alternate Co-Sponsor Rep. Thomas Morrison
  5/27/2011HouseFinal Action Deadline Extended-9(b) May 31, 2011
  5/28/2011HouseHouse Committee Amendment No. 1 Home Rule Note Filed as Amended
  5/28/2011HouseHouse Committee Amendment No. 1 State Mandates Fiscal Note Filed as Amended
  5/30/2011HouseFiscal Note Requested by Rep. Carol A. Sente
  5/30/2011HouseState Mandates Fiscal Note Requested by Rep. Carol A. Sente
  5/30/2011HouseJudicial Note Requested by Rep. Carol A. Sente
  5/30/2011HouseState Debt Impact Note Requested by Rep. Carol A. Sente
  5/31/2011HouseJudicial Note Filed
  5/31/2011HouseFinal Action Deadline Extended-9(b) November 10, 2011
  6/3/2011HouseHousing Affordability Impact Note Filed
  6/3/2011HouseHouse Committee Amendment No. 1 Housing Affordability Impact Note Filed as Amended
  11/7/2011HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Tom Cross
  11/7/2011HouseHouse Floor Amendment No. 2 Referred to Rules Committee
  11/7/2011HouseHouse Floor Amendment No. 2 Rules Refers to Personnel and Pensions Committee
  11/7/2011HouseHouse Floor Amendment No. 2 State Debt Impact Note Filed as Amended
  11/7/2011HouseHouse Floor Amendment No. 2 Land Conveyance Appraisal Note Filed as Amended
  11/8/2011HouseHouse Floor Amendment No. 2 Correctional Note Filed as Amended
  11/8/2011HouseHouse Floor Amendment No. 2 State Mandates Fiscal Note Filed as Amended
  11/8/2011HouseHouse Floor Amendment No. 2 Home Rule Note Filed as Amended
  11/8/2011HouseHouse Floor Amendment No. 2 Pension Note Filed as Amended
  11/8/2011HouseHouse Floor Amendment No. 2 Fiscal Note Filed as Amended
  11/8/2011HouseHouse Floor Amendment No. 2 Balanced Budget Note Filed as Amended
  11/8/2011HouseHouse Floor Amendment No. 2 Recommends Be Adopted Personnel and Pensions Committee; 005-004-000
  11/9/2011HouseHome Rule Note Filed
  11/9/2011HouseState Mandates Fiscal Note Filed
  11/9/2011HouseHouse Floor Amendment No. 2 Judicial Note Filed as Amended
  11/9/2011HouseState Debt Impact Note Filed
  11/9/2011HouseFiscal Note Filed
  11/9/2011HouseHouse Committee Amendment No. 1 Fiscal Note Filed as Amended
  11/9/2011HouseHouse Floor Amendment No. 2 Adopted by Voice Vote
  11/9/2011HousePlaced on Calendar Order of 3rd Reading - Short Debate
  11/10/2011HouseFinal Action Deadline Extended-9(b) November 30, 2011
  11/17/2011HouseHouse Floor Amendment No. 2 Housing Affordability Impact Note Filed as Amended
  11/30/2011HouseFinal Action Deadline Extended-9(b) December 31, 2011
  12/31/2011HouseRule 19(a) / Re-referred to Rules Committee
  1/8/2013SenateSession Sine Die

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