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90_HB2186
40 ILCS 5/3-101 from Ch. 108 1/2, par. 3-101
40 ILCS 5/3-105 from Ch. 108 1/2, par. 3-105
40 ILCS 5/4-101 from Ch. 108 1/2, par. 4-101
40 ILCS 5/4-105 from Ch. 108 1/2, par. 4-105
40 ILCS 5/3-128 rep.
40 ILCS 5/3-129 rep.
40 ILCS 5/3-130 rep.
40 ILCS 5/4-121 rep.
30 ILCS 805/8.21 new
Amends the Illinois Pension Code. Consolidates all
downstate police and firefighter pension funds into the
Illinois Municipal Retirement Fund (IMRF). Amends the State
Mandates Act to require implementation without reimbursement.
Effective immediately.
LRB9003844EGfg
LRB9003844EGfg
1 AN ACT to amend the Illinois Pension Code and the State
2 Mandates Act.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Pension Code is amended by
6 changing Sections 3-101, 3-105, 4-101, and 4-105 as follows:
7 (40 ILCS 5/3-101) (from Ch. 108 1/2, par. 3-101)
8 Sec. 3-101. Creation of fund; consolidation into IMRF.
9 (a) Until January 1, 1998, in each municipality, as
10 defined in Section 3-103, the city council or the board of
11 trustees, as the case may be, shall establish and administer
12 a police pension fund, as prescribed in this Article, for the
13 benefit of its police officers and of their surviving
14 spouses, children, and certain other dependents. No new
15 pension funds shall be created under this Article on or after
16 January 1, 1998.
17 (b) On January 1, 1998, every pension fund established
18 under this Article is consolidated into the Illinois
19 Municipal Retirement Fund established under Article 7 of this
20 Code and abolished as a separate entity. On January 1, 1998,
21 all persons participating in a pension fund established under
22 this Article, whether as an active member, pensioner, or in
23 any other capacity (other than as a member of the board of
24 trustees), shall instead participate in the Illinois
25 Municipal Retirement Fund in that same capacity; however, the
26 terms of their participation in that Fund shall be subject to
27 the provisions of this Article rather than Article 7 of this
28 Code.
29 (c) A separate municipal account shall be established
30 within the Illinois Municipal Retirement Fund for each
31 pension fund in existence under this Article on December 31,
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1 1997. As soon as possible after December 31, 1997, and in
2 any event before January 15, 1998, the board of trustees of
3 each pension fund established under this Article shall
4 transfer all of the assets, liabilities, and records of the
5 pension fund to the Board of Trustees of the Illinois
6 Municipal Retirement Fund. The assets and liabilities so
7 transferred shall be credited to or charged against the
8 appropriate separate account established as the successor to
9 that pension fund under this Section. The Illinois Municipal
10 Retirement Fund shall arrange for the performance of an audit
11 of the assets and liabilities transferred to it by each
12 pension fund under this Section.
13 (d) Beginning January 1, 1998, references in this Code
14 to a pension fund established under this Article shall be
15 deemed to refer to the appropriate account within the
16 Illinois Municipal Retirement Fund that constitutes the
17 successor to the pension fund formerly established under this
18 Article.
19 (e) On January 15, 1998, the board of trustees of each
20 pension fund established under this Article is abolished and
21 the terms of the trustees then serving are terminated on that
22 date. Beginning January 1, 1998, references in this Article
23 to the board of trustees of a pension fund mean the board of
24 trustees of the Illinois Municipal Retirement Fund
25 established under Article 7 of this Code.
26 (Source: P.A. 83-1440.)
27 (40 ILCS 5/3-105) (from Ch. 108 1/2, par. 3-105)
28 Sec. 3-105. Board. "Board": Until January 1, 1998, the
29 board of trustees of the police pension fund of a
30 municipality as established in Section 3-128; beginning
31 January 1, 1998, the Board of Trustees of the Illinois
32 Municipal Retirement Fund, created under Article 7 of this
33 Code.
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1 (Source: P.A. 83-1440.)
2 (40 ILCS 5/4-101) (from Ch. 108 1/2, par. 4-101)
3 Sec. 4-101. Creation of fund; consolidation into IMRF.
4 (a) Until January 1, 1998, in each municipality as
5 defined in Section 4-103, the city council or the board of
6 trustees, as the case may be, shall establish and administer
7 a firefighters' pension fund as prescribed in this Article,
8 for the benefit of its firefighters and of their surviving
9 spouses, children and certain other dependents. No new
10 pension funds shall be created under this Article on or after
11 January 1, 1998.
12 (b) On January 1, 1998, every pension fund established
13 under this Article is consolidated into the Illinois
14 Municipal Retirement Fund established under Article 7 of this
15 Code and abolished as a separate entity. On January 1, 1998,
16 all persons participating in a pension fund established under
17 this Article, whether as an active member, pensioner, or in
18 any other capacity (other than as a member of the board of
19 trustees), shall instead participate in the Illinois
20 Municipal Retirement Fund in that same capacity; however, the
21 terms of their participation in that Fund shall be subject to
22 the provisions of this Article rather than Article 7 of this
23 Code.
24 (c) A separate municipal account shall be established
25 within the Illinois Municipal Retirement Fund for each
26 pension fund in existence under this Article on December 31,
27 1997. As soon as possible after December 31, 1997, and in
28 any event before January 15, 1998, the board of trustees of
29 each pension fund established under this Article shall
30 transfer all of the assets, liabilities, and records of the
31 pension fund to the Board of Trustees of the Illinois
32 Municipal Retirement Fund. The assets and liabilities so
33 transferred shall be credited to or charged against the
-4- LRB9003844EGfg
1 appropriate separate account established as the successor to
2 that pension fund under this Section. The Illinois Municipal
3 Retirement Fund shall arrange for the performance of an audit
4 of the assets and liabilities transferred to it by each
5 pension fund under this Section.
6 (d) Beginning January 1, 1998, references in this Code
7 to a pension fund established under this Article shall be
8 deemed to refer to the appropriate account within the
9 Illinois Municipal Retirement Fund that constitutes the
10 successor to the pension fund formerly established under this
11 Article.
12 (e) On January 15, 1998, the board of trustees of each
13 pension fund established under this Article is abolished and
14 the terms of the trustees then serving are terminated on that
15 date. Beginning January 1, 1998, references in this Article
16 to the board of trustees of a pension fund mean the board of
17 trustees of the Illinois Municipal Retirement Fund
18 established under Article 7 of this Code.
19 (Source: P.A. 83-1440.)
20 (40 ILCS 5/4-105) (from Ch. 108 1/2, par. 4-105)
21 Sec. 4-105. Board. "Board": Until January 1, 1998, the
22 "Board of Trustees of the Firefighters' Pension Fund" of a
23 municipality as established in Section 4-121; beginning
24 January 1, 1998, the Board of Trustees of the Illinois
25 Municipal Retirement Fund, created under Article 7 of this
26 Code.
27 (Source: P.A. 83-1440.)
28 (40 ILCS 5/3-128 rep.)
29 (40 ILCS 5/3-129 rep.)
30 (40 ILCS 5/3-130 rep.)
31 (40 ILCS 5/4-121 rep.)
32 Section 10. Sections 3-128, 3-129, 3-130, and 4-121 of
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1 the Illinois Pension Code are repealed on January 15, 1998.
2 Section 90. The State Mandates Act is amended by adding
3 Section 8.21 as follows:
4 (30 ILCS 805/8.21 new)
5 Sec. 8.21. Exempt mandate. Notwithstanding Sections 6
6 and 8 of this Act, no reimbursement by the State is required
7 for the implementation of any mandate created by this
8 amendatory Act of 1997.
9 Section 99. Effective date. This Act takes effect upon
10 becoming law.