Bill Status of HB 3265   98th General Assembly

Short Description:  PEN CD-EMPLOYER CONTRIBUTIONS

House Sponsors
Rep. Pam Roth-Barbara Wheeler, Darlene J. Senger, Jeanne M Ives, Ron Sandack, David McSweeney, Dwight Kay, Thomas Morrison and Brad E. Halbrook

Last Action  View All Actions

DateChamber Action
  12/3/2014HouseSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/15-155from Ch. 108 1/2, par. 15-155
40 ILCS 5/16-158from Ch. 108 1/2, par. 16-158
30 ILCS 805/8.37 new

Synopsis As Introduced
Amends the State Universities and Downstate Teacher Articles of the Illinois Pension Code. Provides that, for academic years beginning on or after July 1, 2013, if the amount of a participant's earnings for any academic year used to determine the final rate of earnings, determined on a full-time equivalent basis, exceeds the amount of his or her earnings with the same employer for the previous academic year, determined on a full-time equivalent basis, by more than the unadjusted percentage increase in the consumer price index-u for that year (rather than 6%), then the participant's employer shall pay to the applicable System, in addition to all other payments required and in accordance with guidelines established by that System, the present value of the increase in benefits resulting from the portion of the increase in earnings that is in excess of the unadjusted percentage increase in the consumer price index-u for that year (rather than the present value of the increase in benefits resulting from the portion of the increase in earnings that is in excess of 6%). Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

 Pension Note (Government Forecasting & Accountability)
 The amount of school district payments to TRS and SURS as a result of HB 3265 is not known as the amount of future salary increases is unknown. However, the Commission’s actuary has estimated that an additional revenue stream equal to 1% of payroll will produce a reduced State contribution for TRS in the amount of $3.0 billion between FY 2014 and FY 2045. For SURS, an additional revenue stream equal to 1% of payroll will produce a reduced State contribution of approximately $700 million between FY 2014 and FY 2045. These savings estimates could vary widely depending on actual experience under HB 3265.

Actions 
DateChamber Action
  2/26/2013HouseFiled with the Clerk by Rep. Pam Roth
  2/26/2013HouseFirst Reading
  2/26/2013HouseReferred to Rules Committee
  2/28/2013HouseAdded Chief Co-Sponsor Rep. Barbara Wheeler
  3/11/2013HouseAssigned to Personnel and Pensions Committee
  3/12/2013HouseAdded Co-Sponsor Rep. Darlene J. Senger
  3/12/2013HouseAdded Co-Sponsor Rep. Jeanne M Ives
  3/12/2013HouseAdded Co-Sponsor Rep. Ron Sandack
  3/12/2013HouseAdded Co-Sponsor Rep. David McSweeney
  3/13/2013HouseAdded Co-Sponsor Rep. Dwight Kay
  3/13/2013HouseAdded Co-Sponsor Rep. Thomas Morrison
  3/13/2013HouseAdded Co-Sponsor Rep. Brad E. Halbrook
  3/20/2013HousePension Note Filed
  3/22/2013HouseRule 19(a) / Re-referred to Rules Committee
  12/3/2014HouseSession Sine Die

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