Full Text of HB5450 103rd General Assembly
HB5450eng 103RD GENERAL ASSEMBLY | | | HB5450 Engrossed | | LRB103 36088 RJT 66177 b |
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| 1 | | AN ACT concerning education. | 2 | | Be it enacted by the People of the State of Illinois, | 3 | | represented in the General Assembly: | 4 | | Section 5. The Illinois Pension Code is amended by | 5 | | changing Section 15-158.3 as follows: | 6 | | (40 ILCS 5/15-158.3) | 7 | | Sec. 15-158.3. Reports on cost reduction; effect on | 8 | | retirement at any age with 30 years of service. | 9 | | (a) On or before November 15, 2001 and on or before | 10 | | November 15th of each year thereafter, the Board shall have | 11 | | the System's actuary prepare a report showing, on a fiscal | 12 | | year by fiscal year basis, the actual rate of participation in | 13 | | the self-managed plan authorized by Section 15-158.2, (i) by | 14 | | employees of the System's covered higher educational | 15 | | institutions who were hired on or after the implementation | 16 | | date of the self-managed plan and (ii) by other System | 17 | | participants. | 18 | | (b) (Blank). On or before November 15th of 2001 and on or | 19 | | before November 15th of each year thereafter, the Illinois | 20 | | Board of Higher Education, in conjunction with the Bureau of | 21 | | the Budget (now Governor's Office of Management and Budget) | 22 | | shall prepare a report showing, on a fiscal year by fiscal year | 23 | | basis, the amount by which the costs associated with |
| | | HB5450 Engrossed | - 2 - | LRB103 36088 RJT 66177 b |
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| 1 | | compensable sick leave have been reduced as a result of the | 2 | | termination of compensable sick leave accrual on and after | 3 | | January 1, 1998 by employees of higher education institutions | 4 | | who are participants in the System. | 5 | | (c) (Blank). | 6 | | (d) (Blank). The report required under subsection (b) | 7 | | shall be disseminated to the Board, the Pension Laws | 8 | | Commission (until it ceases to exist), the Commission on | 9 | | Government Forecasting and Accountability, the Illinois Board | 10 | | of Higher Education, and the Governor. | 11 | | (e) (Blank). The report required under subsection (b) | 12 | | shall be taken into account by the Pension Laws Commission (or | 13 | | its successor, the Commission on Government Forecasting and | 14 | | Accountability) in making any recommendation to extend by | 15 | | legislation beyond December 31, 2002 the provision that allows | 16 | | a System participant to retire at any age with 30 or more years | 17 | | of service as authorized in Section 15-135. | 18 | | (Source: P.A. 102-19, eff. 7-1-21.) | 19 | | Section 10. The Higher Education Veterans Service Act is | 20 | | amended by changing Section 20 as follows: | 21 | | (110 ILCS 49/20) | 22 | | Sec. 20. Expenditure Fiscal impact and reporting. Each | 23 | | October 15 September 1 , each public college and university | 24 | | that is required to have a Coordinator of Veterans and |
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| 1 | | Military Personnel Student Services under subsection (b) of | 2 | | Section 20 of this Act shall report to the Board of Higher | 3 | | Education , in collaboration with the Illinois Community | 4 | | College Board, on the expenditures for the prior fiscal year | 5 | | for on the fiscal impact of the programs and services related | 6 | | to the requirements of this Act and on the efforts of the | 7 | | public college or university in attracting, recruiting, and | 8 | | retaining veterans and military personnel. | 9 | | The Board of Higher Education shall compile the | 10 | | information and, within 60 days after receipt of such | 11 | | information, issue a report reflecting the information for | 12 | | each institution required to report under this Section. The | 13 | | report must be filed with the Governor, the Governor's Office | 14 | | of Management and Budget, the Director of Veterans' Affairs, | 15 | | the Director of the Illinois Community College Board, the | 16 | | Speaker of the House of Representatives, the President of the | 17 | | Senate, the Minority Leader of the House of Representatives, | 18 | | and the Minority Leader of the Senate. | 19 | | (Source: P.A. 102-295, eff. 8-6-21.) |
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