Illinois General Assembly - Bill Status for HB2292
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 Bill Status of HB2292  93rd General Assembly

Short Description:  PEN CD-IMRF-FORMULA INCREASE

House Sponsors
Rep. Kurt M. Granberg

Last Action
DateChamber Action
  1/11/2005HouseSession 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
30 ILCS 805/8.27 new


Synopsis As Introduced
Amends the IMRF Article of the Illinois Pension Code. Increases the regular retirement formula to 2.15% of final earnings per year of service, for service earned on or after July 1, 2003. For service before that date, authorizes augmentation of the old retirement formula by payment of a specified contribution. Increases the normal employee contribution rate by 0.5% of earnings. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

 Pension Note (Pension Laws Commission)
 The fiscal impact of HB 2292 has not been calculated, but would be significant.

Actions 
DateChamber Action
  2/19/2003HouseFiled with the Clerk by Rep. Kurt M. Granberg
  2/19/2003HouseFirst Reading
  2/19/2003HouseReferred to Rules Committee
  2/21/2003HouseAssigned to Executive Committee
  3/11/2003HousePension Note Filed
  3/13/2003HouseRule 19(a) / Re-referred to Rules Committee
  1/11/2005HouseSession Sine Die

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