MOLARO. 40 ILCS 5/Art. 1B heading new 40 ILCS 5/1B-101 new 40 ILCS 5/1B-102 new 40 ILCS 5/1B-103 new 30 ILCS 805/8.23 new Amends the Illinois Pension Code. Provides for the creation of a new defined-contribution retirement plan for all new public officers and employees. Excludes new public officers and employees from the existing pension funds created under the Pension Code. Pre-empts home rule power. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) Fiscal impact cannot be calculated. Impact would vary by Fund and would depend on normal cost of future employees relative to employer contributions. 99-03-04 S FIRST READING 99-03-04 S REFERRED TO SENATE RULES COMMITTEE RULES 99-03-17 S PENSION NOTE FILED 99-03-17 S COMMITTEE RULES 01-01-09 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary