Date	Chamber	Action
12/3/2014	House	Session Sine Die

Statutes Amended In Order of Appearance

40 ILCS 5/2-101

from Ch. 108 1/2, par. 2-101

40 ILCS 5/2-105

from Ch. 108 1/2, par. 2-105

40 ILCS 5/2-107

from Ch. 108 1/2, par. 2-107

40 ILCS 5/7-137

from Ch. 108 1/2, par. 7-137

40 ILCS 5/8-113

from Ch. 108 1/2, par. 8-113

40 ILCS 5/8-243

from Ch. 108 1/2, par. 8-243

40 ILCS 5/9-108

from Ch. 108 1/2, par. 9-108

Synopsis As Introduced
Amends the Illinois Pension Code. In the General Assembly Article, restricts participation in the General Assembly Retirement System to persons who become participants before the effective date and provides that, beginning on that date, the System shall not accept any new participants. Makes related changes. In the Illinois Municipal Retirement Fund (IMRF), Chicago Municipal, and Cook County Articles, provides that a person who holds part-time elective office is not an employee, contributor, or participant with respect to that office, unless he or she (i) was elected to that office before the effective date and (ii) has elected while in that office to become a contributor. Provides that an elective office shall be presumed to be part-time in the absence of an official job description or determination by the legal advisor of the applicable unit of local government, filed with the Board of the Fund, declaring the elective office to be full-time.

Pension Note (Government Forecasting & Accountability)

HB 3291 would have a slight positive impact upon the pension funds impacted by this bill. An actuarial study would be required to determine the precise savings associated with limiting membership in GARS to persons who became participants before the effective date of HB 3291. According to GARS’ FY 2012 actuarial report, the system had a funding ratio of 17.4% as of June 30, 2012. Current funding projections show that the fund will drop to a 6.2% funding ratio by FY 2029.

Actions 

Date	Chamber	Action
2/26/2013	House	Filed with the Clerk by Rep. Jeanne M Ives
2/26/2013	House	First Reading
2/26/2013	House	Referred to Rules Committee
3/11/2013	House	Assigned to Personnel and Pensions Committee
3/20/2013	House	Pension Note Filed
3/22/2013	House	Rule 19(a) / Re-referred to Rules Committee
12/3/2014	House	Session Sine Die

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