Illinois General Assembly - Bill Status for SB1380

Amends the State Universities Article of the Illinois Pension Code. In provisions concerning service for employment in public schools and other public employment, replaces references to service in the military forces with references to service in a capacity essentially similar or equivalent to that of a teacher. Deletes a provision requiring the Board of Trustees of the State Universities Retirement System to have the System's actuary prepare a report showing the actual rate of participation in the self-managed plan and the extent to which employee optional retirement plan participation has reduced the State's required contributions to the System. Provides that, in addition to warrants and checks, the State Comptroller and payroll officers may use an electronic funds transfer to pay employees. Repeals a provision encouraging the System to use emerging investment managers, minority-owned businesses, female-owned businesses, and business owned by persons with disabilities in managing the system's assets. Makes other changes. Effective immediately.

Replaces everything after the enacting clause. Amends the Downstate Police and the Cook County Articles of the Illinois Pension Code to allow the transfer of up to 6 years of credit established in the Downstate Police Article to the Cook County pension fund. Requires payment of employee and employer contributions, plus interest. Amends the Chicago Police Article of the Illinois Pension Code. Provides that language denying an annuity to a wife or widow, married subsequent to the effective date, of a policeman who dies in service, if the marriage occurred less than one year prior to the policeman's death, does not apply to the widow of a policeman who dies in the performance of an act of duty. Provides that a widow's annuity shall no longer be subject to termination or suspension due to remarriage and any widow's annuity that was previously terminated or suspended by reason of remarriage shall, upon application, be resumed as of the date of the application, but in no event sooner than the effective date. Makes other changes concerning widow's annuities of policemen. Provides that, for the purposes of child's annuities, no age limitation shall apply to a child who is so physically or mentally handicapped as to be unable to support himself or herself. mends the Illinois Municipal Retirement Fund (IMRF) and Chicago Municipal Articles of the Illinois Pension Code. Allows a sheriff's law enforcement employee under the IMRF Article to transfer service credit under the Chicago Municipal Article to the IMRF. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

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