Bill Status of SB 610   95th General Assembly


Short Description:  PEN CD-IMRF-FORMULA INCREASE

Senate Sponsors
Sen. A. J. Wilhelmi

Last Action  View All Actions

DateChamber Action
  1/13/2009SenateSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/7-142from Ch. 108 1/2, par. 7-142
40 ILCS 5/7-173from Ch. 108 1/2, par. 7-173
40 ILCS 5/7-173.3 new

Synopsis As Introduced
Amends the IMRF Article of the Illinois Pension Code. Provides that, by filing a resolution or ordinance with the Fund, an employer may increase the regular retirement formula to 2.25% of final earnings for the first 15 years of service and 2.5% of final earnings for each additional year of service, for service earned on or after the filing of the resolution or ordinance. For service earned before the filing of the resolution or ordinance, authorizes augmentation of the old retirement formula by payment of a specified contribution. Increases the normal employee contribution rate for employees of an employer that files a resolution or ordinance to increase the regular retirement formula. Effective immediately.

Actions 
DateChamber Action
  2/8/2007SenateFiled with Secretary by Sen. A. J. Wilhelmi
  2/8/2007SenateFirst Reading
  2/8/2007SenateReferred to Rules
  2/21/2007SenateAssigned to Pensions and Investments
  3/2/2007SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. A. J. Wilhelmi
  3/2/2007SenateSenate Committee Amendment No. 1 Referred to Rules
  3/6/2007SenateSenate Committee Amendment No. 1 Rules Refers to Pensions and Investments
  3/6/2007SenateSenate Committee Amendment No. 1 Postponed - Pensions and Investments
  3/7/2007SenatePostponed - Pensions and Investments
  3/9/2007SenateSenate Committee Amendment No. 2 Filed with Secretary by Sen. A. J. Wilhelmi
  3/9/2007SenateSenate Committee Amendment No. 2 Referred to Rules
  3/12/2007SenateSenate Committee Amendment No. 3 Filed with Secretary by Sen. A. J. Wilhelmi
  3/12/2007SenateSenate Committee Amendment No. 3 Referred to Rules
  3/13/2007SenateSenate Committee Amendment No. 4 Filed with Secretary by Sen. A. J. Wilhelmi
  3/13/2007SenateSenate Committee Amendment No. 4 Referred to Rules
  3/13/2007SenateSenate Committee Amendment No. 4 Rules Refers to Pensions and Investments
  3/14/2007SenatePostponed - Pensions and Investments
  3/16/2007SenateSenate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Rules
  3/16/2007SenateSenate Committee Amendment No. 4 Rule 3-9(a) / Re-referred to Rules
  3/16/2007SenateRule 3-9(a) / Re-referred to Rules
  1/13/2009SenateSession Sine Die

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