Date	Chamber	Action
1/13/2015	Senate	Session Sine Die

Statutes Amended In Order of Appearance

40 ILCS 5/9-169

from Ch. 108 1/2, par. 9-169

40 ILCS 5/10-107

from Ch. 108 1/2, par. 10-107

30 ILCS 805/8.38 new

Synopsis As Introduced
Amends the Cook County and Cook County Forest Preserve Articles of the Illinois Pension Code. Increases the tax multiplier through the year 2022. Beginning in the year 2023, eliminates the multiplier and provides for the annual required contribution and tax levy to be a sum that, when added to the amounts deducted from the salaries of employees or otherwise contributed by them and revenues from other sources, will equal a sum sufficient to meet the annual actuarial requirements of the pension fund as determined by a qualified actuary retained by the pension fund. Defines the annual actuarial requirements of the pension fund to be (1) the normal cost of the pension fund, plus (2) the annual amount necessary to amortize the fund's unfunded accrued liabilities over a period of 30 years from the effective date of the evaluation. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions 

Date	Chamber	Action
2/14/2014	Senate	Filed with Secretary by Sen. Mike Jacobs
2/14/2014	Senate	First Reading
2/14/2014	Senate	Referred to Assignments
3/5/2014	Senate	Assigned to Executive
3/6/2014	Senate	To Subcommittee on Special Issues (EX)
3/28/2014	Senate	Rule 3-9(a) / Re-referred to Assignments
1/13/2015	Senate	Session Sine Die

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