Illinois General Assembly - Bill Status for SB2003

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Bill Status of SB2003 95th General Assembly

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Short Description: PEN CD-IMRF-MUNI ELEC WORKER

Senate Sponsors
Sen. William R. Haine

Last Action

Date	Chamber	Action
1/13/2009	Senate	Session Sine Die

Statutes Amended In Order of Appearance

40 ILCS 5/7-142.2 new

40 ILCS 5/7-173.3 new

30 ILCS 805/8.32 new

Synopsis As Introduced
Amends the Illinois Municipal Retirement Fund Article of the Illinois Pension Code. Provides that, in lieu of the retirement annuity otherwise provided under the Article, any municipal electrical worker who (i) has 25 or more years of service in that capacity; (ii) is at least 50 years of age; and (iii) terminates service on or after the effective date of the amendatory Act shall be entitled at his or her option to receive a monthly retirement annuity for service as a municipal electrical worker computed by multiplying 3% for each year of such service by his or her annual final rate of earnings and dividing by 12. Requires a municipal electrical worker who makes the election to make an additional contribution of 3.5% of earnings. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions

Date	Chamber	Action
2/7/2008	Senate	Filed with Secretary by Sen. William R. Haine
2/7/2008	Senate	First Reading
2/7/2008	Senate	Referred to Rules
3/5/2008	Senate	Assigned to Pensions and Investments
3/12/2008	Senate	To Subcommittee
3/14/2008	Senate	Rule 3-9(a) / Re-referred to Rules
1/13/2009	Senate	Session Sine Die

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