Illinois General Assembly - Bill Status for SB3423
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 Bill Status of SB3423  100th General Assembly


Senate Sponsors
Sen. William E. Brady

Last Action
DateChamber Action
  1/9/2019SenateSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/1-101.6 new
40 ILCS 5/1-101.7 new
40 ILCS 5/1-113.05 new
40 ILCS 5/1-113.1
40 ILCS 5/1-113.2
40 ILCS 5/1-113.3
40 ILCS 5/1-113.4
40 ILCS 5/1-113.4a
40 ILCS 5/1-113.5
40 ILCS 5/1-113.6
40 ILCS 5/1-113.7
40 ILCS 5/3-127from Ch. 108 1/2, par. 3-127
40 ILCS 5/3-132from Ch. 108 1/2, par. 3-132
40 ILCS 5/3-135from Ch. 108 1/2, par. 3-135
40 ILCS 5/3-135.1 new
40 ILCS 5/3-135.2 new
40 ILCS 5/4-120from Ch. 108 1/2, par. 4-120
40 ILCS 5/4-123from Ch. 108 1/2, par. 4-123
40 ILCS 5/4-128from Ch. 108 1/2, par. 4-128
40 ILCS 5/4-128.1 new
40 ILCS 5/4-128.2 new
40 ILCS 5/7-226 new
40 ILCS 5/7-227 new
30 ILCS 805/8.42 new

Synopsis As Introduced
Amends the Illinois Pension Code. Moves the investment power for eligible downstate police and downstate firefighter pension funds that have net assets in trust that exceed an amount equal to 3 months of current liabilities to the Board of Trustees of the Illinois Municipal Retirement Fund (IMRF). Provides that within 24 months of the effective date of the Act, the Department of Insurance shall audit the investment assets of each eligible pension fund to determine a certified investment asset list. Provides that upon receipt of the certified investment asset list, the Board of IMRF shall initiate the transfer of assets from the board of trustees of the eligible pension fund to the Board of IMRF. Makes conforming changes. Amends the State Mandates Act to require implementation without reimbursement.

DateChamber Action
  2/16/2018SenateFiled with Secretary by Sen. Pamela J. Althoff
  2/16/2018SenateFirst Reading
  2/16/2018SenateReferred to Assignments
  2/27/2018SenateAssigned to Licensed Activities and Pensions
  4/12/2018SenateTo Subcommittee on Pension Consolidation
  4/13/2018SenateRule 2-10 Committee Deadline Established As April 27, 2018
  4/27/2018SenateRule 3-9(a) / Re-referred to Assignments
  9/30/2018SenateChief Sponsor Changed to Sen. William E. Brady
  1/9/2019SenateSession Sine Die

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