Full Text of SB2404 98th General Assembly
SB2404sam001 98TH GENERAL ASSEMBLY | Sen. Linda Holmes Filed: 3/21/2013
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| 1 | | AMENDMENT TO SENATE BILL 2404
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 2404 on page 6, | 3 | | below line 2, by inserting the following:
| 4 | | " Payments to the designated retirement systems under this | 5 | | Section, transferred after the effective date of this | 6 | | amendatory Act of the 98th General Assembly, do not reduce and | 7 | | do not constitute payment of any portion of the required State | 8 | | contribution under Article 2, 14, 15, 16, or 18 of the Illinois | 9 | | Pension Code in that fiscal year. Such amounts shall not | 10 | | reduce, and shall not be included in the calculation of, the | 11 | | required State contribution under Article 2, 14, 15, 16, or 18 | 12 | | of the Illinois Pension Code in any future year, until the | 13 | | designated retirement system has received payment of | 14 | | contributions pursuant to this Act. "; and | 15 | | on page 8, in line 5, by changing " 100% 90% funded basis" to | 16 | | " funding basis as specified in this Section 90% funded basis "; | 17 | | and |
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| 1 | | on page 11, in line 4, by changing " 80% " to " 100% "; and | 2 | | on page 14, in line 5, immediately after " 2045. ", by inserting | 3 | | " If the system's assets reach 100% of its actuarial liabilities | 4 | | before fiscal year 2045, then the State shall contribute an | 5 | | amount needed to maintain the total assets of the system at | 6 | | 100% of the actuarial liabilities of the system. "; and | 7 | | on page 14, in lines 6 and 7, by changing " each designated | 8 | | retirement system " to " the System "; and | 9 | | on page 14, in line 18, by changing " calculation " to | 10 | | " calculating "; and | 11 | | on page 18, in line 16, by changing " 100% 90% funded basis" to | 12 | | " funding basis as specified in this Section 90% funded basis "; | 13 | | and | 14 | | on page 31, in line 7, immediately after " 2045. ", by inserting | 15 | | " If the system's assets reach 100% of its actuarial liabilities | 16 | | before fiscal year 2045, then the State shall contribute an | 17 | | amount needed to maintain the total assets of the system at | 18 | | 100% of the actuarial liabilities of the system. "; and | 19 | | on page 31, in lines 8 and 9, by changing " each designated |
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| 1 | | retirement system " to " the System "; and | 2 | | on page 31, in line 20, by changing " calculation " to | 3 | | " calculating "; and | 4 | | on page 46, in lines 7 and 8, by changing " 100% 90% funded | 5 | | basis" to " funding basis as specified in this Section 90% | 6 | | funded basis "; and | 7 | | on page 59, in line 3, immediately after " 2045. ", by inserting | 8 | | " If the system's assets reach 100% of its actuarial liabilities | 9 | | before fiscal year 2045, then the State shall contribute an | 10 | | amount needed to maintain the total assets of the system at | 11 | | 100% of the actuarial liabilities of the system. "; and | 12 | | on page 59, in lines 4 and 5, by changing " each designated | 13 | | retirement system " to " the System "; and | 14 | | on page 59, in line 16, by changing " calculation " to | 15 | | " calculating "; and | 16 | | on page 72, in lines 8 and 9, by changing " 100% 90% funded | 17 | | basis" to " funding basis as specified in this Section 90% | 18 | | funded basis "; and | 19 | | on page 88, in line 16, immediately after " 2045. ", by inserting |
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| 1 | | " If the system's assets reach 100% of its actuarial liabilities | 2 | | before fiscal year 2045, then the State shall contribute an | 3 | | amount needed to maintain the total assets of the system at | 4 | | 100% of the actuarial liabilities of the system. "; and | 5 | | on page 88, in line 18, by changing " each designated retirement | 6 | | system " to " the System "; and | 7 | | on page 89, in line 4, by changing " calculation " to | 8 | | " calculating ".
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