Bill Status of SB3624 102nd General Assembly
Short Description: PENCD-DWNST POL&FIRE-FINANCING
Sen. Donald P. DeWitte
| 1/19/2022||Senate||Referred to Assignments|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Pension Code. In the Downstate Police and Downstate Firefighter Articles, provides that the annual employer contribution shall include an amount sufficient to bring the total assets of the pension fund up to 80% (instead of 90%) of the total actuarial liabilities of the pension fund by the end of municipal fiscal year 2040. Amends the State Mandates Act to require implementation without reimbursement.