Bill Status of HB 4098   103rd General Assembly

Short Description:  PENSIONS-VARIOUS

House Sponsors
Rep. Stephanie A. Kifowit-Steven Reick-Mark L. Walker

Last Action  View All Actions

DateChamber Action
  4/5/2024HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
40 ILCS 5/1-160
40 ILCS 5/2-108.1from Ch. 108 1/2, par. 2-108.1
40 ILCS 5/2-119.1from Ch. 108 1/2, par. 2-119.1
40 ILCS 5/14-103.10from Ch. 108 1/2, par. 14-103.10
40 ILCS 5/15-111from Ch. 108 1/2, par. 15-111
40 ILCS 5/18-125from Ch. 108 1/2, par. 18-125
40 ILCS 5/18-128.01from Ch. 108 1/2, par. 18-128.01
40 ILCS 5/1-160
40 ILCS 5/2-119.1from Ch. 108 1/2, par. 2-119.1
40 ILCS 5/18-125.1from Ch. 108 1/2, par. 18-125.1
40 ILCS 5/2-154.5 new
40 ILCS 5/2-154.6 new
40 ILCS 5/18-161.5 new
40 ILCS 5/18-161.6 new
40 ILCS 5/2-154.7 new
40 ILCS 5/14-147.7 new
40 ILCS 5/15-185.7 new
40 ILCS 5/16-190.7 new
40 ILCS 5/18-161.7 new
30 ILCS 330/7.2
30 ILCS 330/7.6
30 ILCS 105/8s new
40 ILCS 5/2-124from Ch. 108 1/2, par. 2-124
40 ILCS 5/14-131
40 ILCS 5/15-155from Ch. 108 1/2, par. 15-155
40 ILCS 5/16-158from Ch. 108 1/2, par. 16-158
40 ILCS 5/18-131from Ch. 108 1/2, par. 18-131
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 5/2-107from Ch. 108 1/2, par. 2-107
40 ILCS 5/2-117from Ch. 108 1/2, par. 2-117
40 ILCS 5/14-103.05from Ch. 108 1/2, par. 14-103.05
40 ILCS 5/14-104from Ch. 108 1/2, par. 14-104
40 ILCS 5/14-105.4from Ch. 108 1/2, par. 14-105.4
40 ILCS 5/18-101from Ch. 108 1/2, par. 18-101
40 ILCS 5/18-108from Ch. 108 1/2, par. 18-108
40 ILCS 5/18-109from Ch. 108 1/2, par. 18-109
40 ILCS 5/18-110from Ch. 108 1/2, par. 18-110
40 ILCS 5/2-124from Ch. 108 1/2, par. 2-124
40 ILCS 5/14-131
40 ILCS 5/15-155from Ch. 108 1/2, par. 15-155
40 ILCS 5/16-158from Ch. 108 1/2, par. 16-158
40 ILCS 5/18-131from Ch. 108 1/2, par. 18-131
40 ILCS 5/1-160
40 ILCS 5/15-135from Ch. 108 1/2, par. 15-135
40 ILCS 5/1-160
40 ILCS 5/15-108.2
40 ILCS 5/15-155.2
40 ILCS 5/16-158.3
40 ILCS 5/1-161 rep.
40 ILCS 5/1-162 rep.
40 ILCS 5/2-162
40 ILCS 5/14-152.1
40 ILCS 5/15-198
40 ILCS 5/16-203
40 ILCS 5/18-169
30 ILCS 805/8.47 new

Synopsis As Introduced
Amends the Illinois Pension Code. Makes changes to Tier 2 benefits for members or participants under the 5 State-funded retirement systems and the Chicago Teachers Pension Fund, including changes to automatic annual increases, age and service requirements for retirement, and limits on the amount of salary for annuity purposes. Establishes an accelerated pension benefit payment option for the General Assembly and Judges Articles of the Code. Makes changes to the funding formula beginning in fiscal year 2025 for the 5 State-funded retirement systems. In the 5 State-funded retirement systems, provides for a deferred retirement option plan for certain participants under which a participant may continue in active service for up to 3 years while having his or her retirement pension paid into a special account, to be distributed to the participant upon retirement. Provides that any benefit increase that results from this Act is excluded from the definition of "new benefit increase". Amends the General Obligation Bond Act. Provides that each fiscal year after certain State pension funding bonds and income tax proceed bonds are retired, the State Treasurer and the State Comptroller shall transfer $500,000,000 from the General Revenue Fund to the Pension Unfunded Liability Reduction Fund each fiscal year, which shall be used for making additional contributions to the pension funds and retirement systems established under the General Assembly, State Employee, State Universities, Downstate Teacher, Chicago Teacher, and Judges Articles of the Illinois Pension Code. Amends the State Finance Act to make conforming changes. Repeals provisions concerning optional benefits for certain Tier 2 members. Amends the State Mandates Act to require implementation without reimbursement by the State. Effective immediately.

Actions 
DateChamber Action
  5/18/2023HouseFiled with the Clerk by Rep. Stephanie A. Kifowit
  5/18/2023HouseAdded Chief Co-Sponsor Rep. Steven Reick
  5/18/2023HouseAdded Chief Co-Sponsor Rep. Mark L. Walker
  5/18/2023HouseFirst Reading
  5/18/2023HouseReferred to Rules Committee
  7/24/2023HousePension Note Requested by Rep. Stephanie A. Kifowit
  1/31/2024HouseAssigned to Personnel & Pensions Committee
  4/5/2024HouseRule 19(a) / Re-referred to Rules Committee

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