Bill Status of SB 3786   103rd General Assembly

Short Description:  PEN CD-IMRF-MUNI CONTRIBUTION

Senate Sponsors
Sen. Michael W. Halpin

Last Action  View All Actions

DateChamber Action
  2/9/2024SenateReferred to Assignments

Statutes Amended In Order of Appearance
40 ILCS 5/7-172from Ch. 108 1/2, par. 7-172

Synopsis As Introduced
Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. In a provision requiring a participating municipality or participating instrumentality to pay an additional contribution to the Fund for certain earnings increases above 6% or 1.5 times the annual increase in the consumer price index-u, whichever is greater, provides that the payments must be concluded within 7 years (instead of 3 years) after receipt of the bill by the participating municipality or participating instrumentality. Effective immediately.

Actions 
DateChamber Action
  2/9/2024SenateFiled with Secretary by Sen. Michael W. Halpin
  2/9/2024SenateFirst Reading
  2/9/2024SenateReferred to Assignments

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