Full Text of SB3149 101st General Assembly
SB3149 101ST GENERAL ASSEMBLY |
| | 101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020 SB3149 Introduced 2/6/2020, by Sen. Jason A. Barickman SYNOPSIS AS INTRODUCED: |
| 40 ILCS 5/2-101 | from Ch. 108 1/2, par. 2-101 | 40 ILCS 5/2-105 | from Ch. 108 1/2, par. 2-105 | 40 ILCS 5/2-107 | from Ch. 108 1/2, par. 2-107 | 40 ILCS 5/24-105.2 | |
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Amends the General Assembly and Deferred Compensation Articles of the Illinois Pension Code. Restricts participation in the General Assembly Retirement System to persons who became participants before the effective date of the amendatory Act and provides that, beginning on that date, the System shall not accept any new participants. Makes related changes. Provides that the Department of Central Management Services shall automatically enroll in the State Employees Deferred Compensation Plan any employee who becomes a member of the General Assembly or serves as Governor, Lieutenant Governor, Secretary of State, Treasurer, Comptroller, or Attorney General. Effective immediately.
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| | FISCAL NOTE ACT MAY APPLY | | PENSION IMPACT NOTE ACT MAY APPLY |
| | A BILL FOR |
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| | | SB3149 | | LRB101 19128 RPS 68591 b |
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| 1 | | AN ACT concerning public employee benefits.
| 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 changing | 5 | | Sections
2-101, 2-105, 2-107, and 24-105.2 as follows:
| 6 | | (40 ILCS 5/2-101) (from Ch. 108 1/2, par. 2-101)
| 7 | | Sec. 2-101. Creation of system. A retirement system is | 8 | | created to provide
retirement annuities, survivor's annuities | 9 | | and other benefits for certain
members of the General Assembly, | 10 | | certain elected state officials , and their
beneficiaries.
| 11 | | The system shall be known as the "General Assembly | 12 | | Retirement System".
All its funds and property shall be a trust | 13 | | separate from all other
entities, maintained for the purpose of | 14 | | securing payment of annuities and
benefits under this Article.
| 15 | | Participation in the retirement system created under this | 16 | | Article is
restricted to persons who became participants before | 17 | | the effective date of this amendatory Act of the 101st General | 18 | | Assembly.
Beginning on that date, the System shall not accept | 19 | | any new participants.
| 20 | | (Source: P.A. 83-1440.)
| 21 | | (40 ILCS 5/2-105) (from Ch. 108 1/2, par. 2-105)
| 22 | | Sec. 2-105. Member. "Member": Members of the General |
| | | SB3149 | - 2 - | LRB101 19128 RPS 68591 b |
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| 1 | | Assembly of this
State , including persons who enter military | 2 | | service while a member of the
General Assembly , and any person | 3 | | serving as Governor, Lieutenant Governor,
Secretary of State, | 4 | | Treasurer, Comptroller, or Attorney General for the period
of | 5 | | service in such office.
| 6 | | Any person who has served for 10 or more years as Clerk or | 7 | | Assistant Clerk
of the House of Representatives, Secretary or | 8 | | Assistant Secretary of the
Senate, or any combination thereof, | 9 | | may elect to become a member
of this system while thenceforth | 10 | | engaged in such service by filing a
written election with the | 11 | | board. Any person so electing shall be
deemed an active member | 12 | | of the General Assembly for the purpose of validating
and | 13 | | transferring any service credits earned under any of the funds | 14 | | and systems
established under Articles 3 through 18 of this | 15 | | Code.
| 16 | | However, notwithstanding any other provision of this | 17 | | Article, a person
shall not be deemed a member for the purposes | 18 | | of this Article unless he or she
became a participant of the | 19 | | System before the effective date of this amendatory Act of the | 20 | | 101st General Assembly.
| 21 | | (Source: P.A. 85-1008.)
| 22 | | (40 ILCS 5/2-107) (from Ch. 108 1/2, par. 2-107)
| 23 | | Sec. 2-107. Participant. "Participant": Any member who | 24 | | elects to
participate; and any former member who elects to | 25 | | continue participation
under Section 2-117.1, for the duration |
| | | SB3149 | - 3 - | LRB101 19128 RPS 68591 b |
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| 1 | | of such continued participation. However, notwithstanding any | 2 | | other provision of this Article, a person
shall not be deemed a | 3 | | participant for the purposes of this Article unless he or she
| 4 | | became a participant of the System before the effective date of | 5 | | this amendatory Act of the 101st General Assembly.
| 6 | | (Source: P.A. 86-1488.)
| 7 | | (40 ILCS 5/24-105.2) | 8 | | Sec. 24-105.2. Automatic enrollment for certain members. | 9 | | The Department of Central Management Services shall | 10 | | automatically enroll in the State Employees Deferred | 11 | | Compensation Plan any employee : (1) who, on or after July 1, | 12 | | 2020 ( 6 months after the effective date of Public Act 101-277) | 13 | | this amendatory Act of the 101st General Assembly , first | 14 | | becomes a member or participant of a retirement system created | 15 | | under Article 2, 14, or 18 ; or (2) who, on or after the | 16 | | effective date of this amendatory Act of the 101st General | 17 | | Assembly, becomes a member of the General Assembly or serves as | 18 | | Governor, Lieutenant Governor, Secretary of State, Treasurer, | 19 | | Comptroller, or Attorney General . An employee automatically | 20 | | enrolled under this Section shall have 3% of his or her pre-tax | 21 | | gross compensation for each compensation period deferred into | 22 | | his or her deferred compensation account. | 23 | | An employee shall have 30 days from the start date of | 24 | | employment to elect to not participate in the deferred | 25 | | compensation plan or to elect to increase or reduce the amount |
| | | SB3149 | - 4 - | LRB101 19128 RPS 68591 b |
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| 1 | | of pre-tax gross compensation deferred. An employee shall be | 2 | | automatically enrolled in the Plan beginning the first day of | 3 | | the pay period following the employee's thirtieth day of | 4 | | employment. An employee who has been automatically enrolled in | 5 | | the Plan may elect, within 90 days of enrollment, to withdraw | 6 | | from the Plan and receive a refund of amounts deferred. An | 7 | | employee making such an election shall forfeit all employer | 8 | | matching contributions, if any, made prior to the election. Any | 9 | | refunded amount shall be included in the employee's gross | 10 | | income for the taxable year in which the refund is issued.
| 11 | | (Source: P.A. 101-277, eff. 1-1-20 .)
| 12 | | Section 99. Effective date. This Act takes effect upon | 13 | | becoming law. |
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