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 Bill Status of SB1763  100th General Assembly


Short Description:  PEN CD-GARS-TIER 1 ELECTION

Senate Sponsors
Sen. William E. Brady - Neil Anderson - Tom Rooney - Sue Rezin, Paul Schimpf, Dale Fowler, Kyle McCarter, Michael Connelly, Tim Bivins, Jim Oberweis, Karen McConnaughay, Dan McConchie, Dale A. Righter, Dave Syverson, Jil Tracy, Chapin Rose, Pamela J. Althoff and Chuck Weaver

Last Action
DateChamber Action
  2/9/2017SenateReferred to Assignments

Statutes Amended In Order of Appearance
40 ILCS 5/2-101from Ch. 108 1/2, par. 2-101
40 ILCS 5/2-105from Ch. 108 1/2, par. 2-105
40 ILCS 5/2-105.3 new
40 ILCS 5/2-107from Ch. 108 1/2, par. 2-107
40 ILCS 5/2-107.9 new
40 ILCS 5/2-107.10 new
40 ILCS 5/2-108from Ch. 108 1/2, par. 2-108
40 ILCS 5/2-110.3 new
40 ILCS 5/2-119.1from Ch. 108 1/2, par. 2-119.1
40 ILCS 5/2-124from Ch. 108 1/2, par. 2-124
40 ILCS 5/2-126from Ch. 108 1/2, par. 2-126
40 ILCS 5/2-134from Ch. 108 1/2, par. 2-134
40 ILCS 5/2-162
40 ILCS 5/2-165.1 new
40 ILCS 5/2-166.1 new
40 ILCS 5/20-121from Ch. 108 1/2, par. 20-121
40 ILCS 5/20-123from Ch. 108 1/2, par. 20-123
40 ILCS 5/20-124from Ch. 108 1/2, par. 20-124
40 ILCS 5/20-125from Ch. 108 1/2, par. 20-125
40 ILCS 5/2-165 rep.
40 ILCS 5/2-166 rep.
40 ILCS 15/1.9 new


Synopsis As Introduced
Amends the General Assembly Article of the Illinois Pension Code. Requires active Tier 1 employees to elect either to (i) have automatic annual increases in retirement annuity and survivor's annuity delayed and reduced or (ii) maintain the current benefit package with additional limitations on pensionable salary. Provides that a Tier 1 employee who elects item (i) is entitled to have future increases in income treated as pensionable income, have contributions reduced to a specified rate, and receive a consideration payment of 10% of contributions made prior to the election. Provides that a Tier 1 employee who elects item (ii) is not eligible to have future increases in income treated as pensionable income. Makes funding changes and requires recertification of State contributions for fiscal years 2018 and 2019. Establishes a voluntary defined contribution plan for certain eligible Tier 1 participants and repeals provisions concerning the defined contribution plan added by Public Act 98-599, which has been held unconstitutional. Makes conforming changes in the Retirement Systems Reciprocal Act (Article 20 of the Code). Restricts participation in the System to persons who became participants before the effective date. Amends the State Pension Funds Continuing Appropriation Act to provide a continuing appropriation for the amounts of the consideration payments. Effective immediately.

Actions 
DateChamber Action
  2/9/2017SenateFiled with Secretary by Sen. William E. Brady
  2/9/2017SenateChief Co-Sponsor Sen. Neil Anderson
  2/9/2017SenateChief Co-Sponsor Sen. Tom Rooney
  2/9/2017SenateChief Co-Sponsor Sen. Sue Rezin
  2/9/2017SenateCo-Sponsor Sen. Paul Schimpf
  2/9/2017SenateCo-Sponsor Sen. Dale Fowler
  2/9/2017SenateFirst Reading
  2/9/2017SenateReferred to Assignments
  2/15/2017SenateAdded as Co-Sponsor Sen. Kyle McCarter
  2/15/2017SenateAdded as Co-Sponsor Sen. Michael Connelly
  2/15/2017SenateAdded as Co-Sponsor Sen. Tim Bivins
  2/15/2017SenateAdded as Co-Sponsor Sen. Jim Oberweis
  2/15/2017SenateAdded as Co-Sponsor Sen. Karen McConnaughay
  2/15/2017SenateAdded as Co-Sponsor Sen. Dan McConchie
  2/15/2017SenateAdded as Co-Sponsor Sen. Dale A. Righter
  2/15/2017SenateAdded as Co-Sponsor Sen. Dave Syverson
  2/15/2017SenateAdded as Co-Sponsor Sen. Jil Tracy
  2/15/2017SenateAdded as Co-Sponsor Sen. Chapin Rose
  2/15/2017SenateAdded as Co-Sponsor Sen. Pamela J. Althoff
  2/15/2017SenateAdded as Co-Sponsor Sen. Chuck Weaver

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