Bill Status of HB4870  103rd General Assembly

Short Description:  PENCD-SERS-ALTERNATIVE ANNUITY

House Sponsors
Rep. Stephanie A. Kifowit - Brandun Schweizer and Dagmara Avelar

Senate Sponsors
(Sen. Robert F. Martwick - Neil Anderson)

Last Action
DateChamber Action
  4/19/2024SenateReferred to Assignments

Statutes Amended In Order of Appearance
40 ILCS 5/14-110from Ch. 108 1/2, par. 14-110
40 ILCS 5/14-152.1


Synopsis As Introduced
Amends the State Employee Article of the Illinois Pension Code. Provides that a member who is eligible to receive an alternative retirement annuity may elect to receive an estimated payment that shall commence no later than 30 days after the later of either the member's last day of employment or 30 days after the member files for the retirement benefit with the System. Provides that the estimated payment shall be the best estimate by the System of the total monthly amount due to the member based on the information that the System possesses at the time of the estimate. Provides that if the amount of the estimate is greater or less than the actual amount of the monthly annuity, the System shall pay or recover the difference within 6 months after the start of the monthly annuity. Excludes a benefit increase resulting from the amendatory Act from the definition of "new benefit increase". Effective immediately.

Actions 
DateChamber Action
  2/6/2024HouseFiled with the Clerk by Rep. Stephanie A. Kifowit
  2/7/2024HouseFirst Reading
  2/7/2024HouseReferred to Rules Committee
  2/28/2024HouseAssigned to Personnel & Pensions Committee
  3/14/2024HouseDo Pass / Short Debate Personnel & Pensions Committee; 010-000-000
  3/14/2024HousePlaced on Calendar 2nd Reading - Short Debate
  3/19/2024HouseAdded Co-Sponsor Rep. Dagmara Avelar
  4/11/2024HouseSecond Reading - Short Debate
  4/11/2024HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/16/2024HouseThird Reading - Short Debate - Passed 111-000-000
  4/16/2024HouseAdded Chief Co-Sponsor Rep. Brandun Schweizer
  4/17/2024SenateArrive in Senate
  4/17/2024SenatePlaced on Calendar Order of First Reading April 18, 2024
  4/19/2024SenateChief Senate Sponsor Sen. Robert F. Martwick
  4/19/2024SenateFirst Reading
  4/19/2024SenateReferred to Assignments
  4/23/2024SenateAdded as Alternate Chief Co-Sponsor Sen. Neil Anderson