Bill Status of SB3044  102nd General Assembly

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Short Description:  PENCD-FUNDING STATE SYSTEMS

Senate Sponsors
Sen. John O. Jones - Frank C. Watson - David Luechtefeld - Carole Pankau - Gary G. Dahl, William E. Peterson, Adeline Jay Geo-Karis, Wendell E. Jones, Larry K. Bomke, Dave Syverson, Cheryl Axley, Kirk W. Dillard, Bill Brady, Christine Radogno, John J. Millner and Pamela J. Althoff

Last Action

Date	Chamber	Action
1/9/2007	Senate	Session Sine Die

Statutes Amended In Order of Appearance

40 ILCS 5/2-124

from Ch. 108 1/2, par. 2-124

40 ILCS 5/2-134

from Ch. 108 1/2, par. 2-134

40 ILCS 5/14-108.3

40 ILCS 5/14-131

from Ch. 108 1/2, par. 14-131

40 ILCS 5/14-135.08

from Ch. 108 1/2, par. 14-135.08

40 ILCS 5/15-155

from Ch. 108 1/2, par. 15-155

40 ILCS 5/15-165

from Ch. 108 1/2, par. 15-165

40 ILCS 5/16-158

from Ch. 108 1/2, par. 16-158

40 ILCS 5/18-131

from Ch. 108 1/2, par. 18-131

40 ILCS 5/18-140

from Ch. 108 1/2, par. 18-140

Synopsis As Introduced
Amends the Illinois Pension Code. In provisions concerning the 5 State-funded retirement systems, deletes language specifying dollar amounts for the State contribution to each System required for FY 2007 and provides that State contributions to the systems for fiscal years 2007 through 2010 shall be increased in equal annual increments from the required State contributions in State fiscal year 2005 until the State is contributing at a rate that will result in the systems being 90% funded. Changes how certain calculations related to the required State contributions are made. Provides that the Board of Trustees of the retirement systems must re-certify, on or before July 1, 2006, the amount of the required State contribution for FY 2007, taking into account the changes made by this amendatory Act. In the State Employee Article of the Illinois Pension Code, provides that increases as a result of certain early retirement incentives shall not be included in the calculation of the required State contribution under that Article, but shall be appropriated separately. Effective immediately.

Actions 

Date	Chamber	Action
1/20/2006	Senate	Filed with Secretary by Sen. John O. Jones
1/20/2006	Senate	Chief Co-Sponsor Sen. Frank C. Watson
1/20/2006	Senate	Chief Co-Sponsor Sen. David Luechtefeld
1/20/2006	Senate	Chief Co-Sponsor Sen. Carole Pankau
1/20/2006	Senate	Chief Co-Sponsor Sen. Gary G. Dahl
1/20/2006	Senate	Co-Sponsor Sen. William E. Peterson
1/20/2006	Senate	Co-Sponsor Sen. Adeline Jay Geo-Karis
1/20/2006	Senate	Co-Sponsor Sen. Wendell E. Jones
1/20/2006	Senate	Co-Sponsor Sen. Larry K. Bomke
1/20/2006	Senate	Co-Sponsor Sen. Dave Syverson
1/20/2006	Senate	Co-Sponsor Sen. Cheryl Axley
1/20/2006	Senate	Co-Sponsor Sen. Kirk W. Dillard
1/20/2006	Senate	Co-Sponsor Sen. Bill Brady
1/20/2006	Senate	First Reading
1/20/2006	Senate	Referred to Rules
1/24/2006	Senate	Added as Co-Sponsor Sen. Christine Radogno
1/31/2006	Senate	Added as Co-Sponsor Sen. John J. Millner
1/31/2006	Senate	Added as Co-Sponsor Sen. Pamela J. Althoff
1/9/2007	Senate	Session Sine Die