Illinois General Assembly - Full Text of HB2993
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Full Text of HB2993  98th General Assembly


Rep. Darlene J. Senger

Filed: 4/11/2013





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2    AMENDMENT NO. ______. Amend House Bill 2993, AS AMENDED, in
3the introductory portion of Section 5, by inserting "15-162,
415-165," after "15-159," and by deleting "15-177.1,"; and
5in Section 5, in the third and fourth sentences of Sec.
615-145.1, by changing "due to age. Any survivor's insurance
7benefit shall be increased (1) on each January 1 occurring on
8or after the commencement of the annuity if the deceased Tier 1
9member" to "due to age and shall be increased (1) on each
10January 1 occurring on or after the commencement of the annuity
11if the deceased Tier 2 member"; and
12in Section 5, by replacing all of Sec. 15-169 with the
14    "(40 ILCS 5/15-162)  (from Ch. 108 1/2, par. 15-162)
15    Sec. 15-162. To hold meetings.



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1    To hold regular meetings at least quarterly in each year
2and special meetings at such times as the chairperson president
3or a majority of the board deem necessary.
4(Source: Laws 1963, p. 161.)
5    (40 ILCS 5/15-165)   (from Ch. 108 1/2, par. 15-165)
6    Sec. 15-165. To certify amounts and submit vouchers.
7    (a) The Board shall certify to the Governor on or before
8November 15 of each year until November 15, 2011 the
9appropriation required from State funds for the purposes of
10this System for the following fiscal year. The certification
11under this subsection (a) shall include a copy of the actuarial
12recommendations upon which it is based and shall specifically
13identify the System's projected State normal cost for that
14fiscal year and the projected State cost for the self-managed
15plan for that fiscal year.
16    On or before May 1, 2004, the Board shall recalculate and
17recertify to the Governor the amount of the required State
18contribution to the System for State fiscal year 2005, taking
19into account the amounts appropriated to and received by the
20System under subsection (d) of Section 7.2 of the General
21Obligation Bond Act.
22    On or before July 1, 2005, the Board shall recalculate and
23recertify to the Governor the amount of the required State
24contribution to the System for State fiscal year 2006, taking
25into account the changes in required State contributions made



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1by this amendatory Act of the 94th General Assembly.
2    On or before April 1, 2011, the Board shall recalculate and
3recertify to the Governor the amount of the required State
4contribution to the System for State fiscal year 2011, applying
5the changes made by Public Act 96-889 to the System's assets
6and liabilities as of June 30, 2009 as though Public Act 96-889
7was approved on that date.
8    (a-5) On or before November 1 of each year, beginning
9November 1, 2012, the Board shall submit to the State Actuary,
10the Governor, and the General Assembly a proposed certification
11of the amount of the required State contribution to the System
12for the next fiscal year, along with all of the actuarial
13assumptions, calculations, and data upon which that proposed
14certification is based. On or before January 1 of each year,
15beginning January 1, 2013, the State Actuary shall issue a
16preliminary report concerning the proposed certification and
17identifying, if necessary, recommended changes in actuarial
18assumptions that the Board must consider before finalizing its
19certification of the required State contributions. On or before
20January 15, 2013 and each January 15 thereafter, the Board
21shall certify to the Governor and the General Assembly the
22amount of the required State contribution for the next fiscal
23year. The Board's certification must note, in a written
24response to the State Actuary, any deviations from the State
25Actuary's recommended changes, the reason or reasons for not
26following the State Actuary's recommended changes, and the



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1fiscal impact of not following the State Actuary's recommended
2changes on the required State contribution.
3    (b) The Board shall certify to the State Comptroller or
4employer, as the case may be, from time to time, by its
5chairperson president and secretary, with its seal attached,
6the amounts payable to the System from the various funds.
7    (c) Beginning in State fiscal year 1996, on or as soon as
8possible after the 15th day of each month the Board shall
9submit vouchers for payment of State contributions to the
10System, in a total monthly amount of one-twelfth of the
11required annual State contribution certified under subsection
12(a). From the effective date of this amendatory Act of the 93rd
13General Assembly through June 30, 2004, the Board shall not
14submit vouchers for the remainder of fiscal year 2004 in excess
15of the fiscal year 2004 certified contribution amount
16determined under this Section after taking into consideration
17the transfer to the System under subsection (b) of Section
186z-61 of the State Finance Act. These vouchers shall be paid by
19the State Comptroller and Treasurer by warrants drawn on the
20funds appropriated to the System for that fiscal year.
21    If in any month the amount remaining unexpended from all
22other appropriations to the System for the applicable fiscal
23year (including the appropriations to the System under Section
248.12 of the State Finance Act and Section 1 of the State
25Pension Funds Continuing Appropriation Act) is less than the
26amount lawfully vouchered under this Section, the difference



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1shall be paid from the General Revenue Fund under the
2continuing appropriation authority provided in Section 1.1 of
3the State Pension Funds Continuing Appropriation Act.
4    (d) So long as the payments received are the full amount
5lawfully vouchered under this Section, payments received by the
6System under this Section shall be applied first toward the
7employer contribution to the self-managed plan established
8under Section 15-158.2. Payments shall be applied second toward
9the employer's portion of the normal costs of the System, as
10defined in subsection (f) of Section 15-155. The balance shall
11be applied toward the unfunded actuarial liabilities of the
13    (e) In the event that the System does not receive, as a
14result of legislative enactment or otherwise, payments
15sufficient to fully fund the employer contribution to the
16self-managed plan established under Section 15-158.2 and to
17fully fund that portion of the employer's portion of the normal
18costs of the System, as calculated in accordance with Section
1915-155(a-1), then any payments received shall be applied
20proportionately to the optional retirement program established
21under Section 15-158.2 and to the employer's portion of the
22normal costs of the System, as calculated in accordance with
23Section 15-155(a-1).
24(Source: P.A. 96-1497, eff. 1-14-11; 96-1511, eff. 1-27-11;
2597-694, eff. 6-18-12.)



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1    (40 ILCS 5/15-169)  (from Ch. 108 1/2, par. 15-169)
2    Sec. 15-169. To elect officers and appoint employees. To
3elect officers; to appoint a secretary and treasurer; to have a
4seal; to employ and fix the rate of pay of such actuarial,
5legal, clerical, audit, or medical, or other services, or
6corporate trustee organized under the laws of this State with a
7capital of not less than $1,000,000, or investment counsel and
8other persons as shall be required for the efficient
9administration of the system. All actions brought by or against
10the board shall be prosecuted or defended by the Attorney
11General or by other counsel, as the board may decide.
12(Source: P.A. 83-1440.)"; and
13in Section 5, by deleting all of Sec. 15-177.1.