90th General Assembly
Status of HB0015
   [ Home ]   [ Back ]   [ Legislation ]
Legislation:  
Please enter a bill number.



 Full Text  Bill Summary
   CAPPARELLI-SAVIANO-BUGIELSKI-BURKE-SANTIAGO, LOPEZ, MCAULIFFE 
   LYONS,JOSEPH.

(MADIGAN,R-DELEO)

   40 ILCS 5/8-125           from Ch. 108 1/2, par. 8-125                      
   40 ILCS 5/8-139           from Ch. 108 1/2, par. 8-139                      
   40 ILCS 5/8-158           from Ch. 108 1/2, par. 8-158                      
   40 ILCS 5/8-173           from Ch. 108 1/2, par. 8-173                      
   40 ILCS 5/8-201           from Ch. 108 1/2, par. 8-201                      
   40 ILCS 5/8-230           from Ch. 108 1/2, par. 8-230                      
   40 ILCS 5/8-230.6 new                                                       
   40 ILCS 5/8-233           from Ch. 108 1/2, par. 8-233                      
   40 ILCS 5/11-110          from Ch. 108 1/2, par. 11-110                     
   40 ILCS 5/11-124          from Ch. 108 1/2, par. 11-124                     
   40 ILCS 5/11-125.8 new                                                      
   40 ILCS 5/11-134.2        from Ch. 108 1/2, par. 11-134.2                   
   40 ILCS 5/11-153          from Ch. 108 1/2, par. 11-153                     
   40 ILCS 5/11-169          from Ch. 108 1/2, par. 11-169                     
   40 ILCS 5/11-190          from Ch. 108 1/2, par. 11-190                     
   40 ILCS 5/11-217          from Ch. 108 1/2, par. 11-217                     
   40 ILCS 5/11-221          from Ch. 108 1/2, par. 11-221                     
   40 ILCS 5/11-221.3 new                                                      
   30 ILCS 805/8.21 new                                                        

        Amends the Chicago Municipal and Laborer Articles of the  Pension      
   Code.  Provides that new annuities are payable on the first day of the      
   calendar  month, without proration.  Authorizes the City to substitute      
   funds obtained from borrowings and other sources for a portion of  its      
   authorized  tax  levy  for  pension  purposes.  Expands the investment      
   authority  of  the  board.    Eliminates  the  provision   restricting      
   investments  to  the  items  specified  in  Section 1-113 of the Code;      
   provides that investments in those items are  deemed  to  be  prudent.      
   Contains  related provisions.  Provides that persons who have been out      
   of service for up to 90 days and persons who are  active  participants      
   in  a  reciprocal  retirement  system  but are not in City service may      
   establish credit for certain periods of service.  Authorizes the Board      
   to  adopt  rules  prescribing  the  manner  of  repaying  refunds  and      
   purchasing optional credits.  Authorizes the  Fund  to  accept  direct      
   rollovers  of  moneys  from other qualified retirement plans.  Changes      
   the manner of calculating annual salary for minimum annuity  purposes;      
   applies  to  persons withdrawing from service on or after July 1, 1990      
   and makes the resulting increases retroactive  to  the  start  of  the      
   affected  annuities,  without interest.  Also makes technical changes.      
   Amends the Chicago Laborer Article of  the  Pension  Code  to  require      
   participation  by  employees  of  the  boards of certain other Chicago      
   public pension funds.  Provides that an employee may establish  credit      
   in  the Fund for service rendered as a police officer, firefighter, or      
   teacher.  Amends the State  Mandates  Act  to  require  implementation      
   without reimbursement.  Effective immediately.                              
          PENSION IMPACT NOTE                                                  
          Chicago Municipal:                                                   
           Increase in accrued liability                            $4.6M      
           Increase in total annual cost                         $609,872      
           Increase in total annual cost as a % of payroll          0.06%      
          Chicago Laborers:                                                    
           Increase in accrued liability                         $943,882      
           Increase in total annual cost                         $112.691      
           Increase in total annual cost as a % of payroll          0.08%      
          PENSION IMPACT NOTE, ENGROSSED                                       
          No change from previous note.                                        
   97-01-08  H  FILED WITH CLERK                                               
   97-01-08  H  ADDED AS A JOINT SPONSOR                 SAVIANO               
   97-01-08  H  ADDED AS A CO-SPONSOR                    BUGIELSKI             
   97-01-08  H  ADDED AS A CO-SPONSOR                    BURKE                 
   97-01-08  H  ADDED AS A CO-SPONSOR                    SANTIAGO              
   97-01-08  H  ADDED AS A CO-SPONSOR                    LOPEZ                 
   97-01-08  H  ADDED AS A CO-SPONSOR                    MCAULIFFE             
   97-01-08  H  ADDED AS A CO-SPONSOR                    LYONS,EILEEN          
   97-01-08  H  FIRST READING                                                  
   97-01-08  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   97-01-22  H       ASSIGNED TO COMMITTEE               PERS PENSION          
   97-02-10  H                        PENSION NOTE FILED                       
   97-02-10  H                   COMMITTEE               PERS PENSION          
   97-03-21  H  DO PASS/SHORT DEBATE                     008-001-000   HPPN    
   97-03-21  H  PLACED CALENDAR 2ND READING-SHORT DEBATE                       
   97-04-08  H  SECOND READING-SHORT DEBATE                                    
   97-04-08  H  PLCD CAL ORDER 3RD READING-SHORT DEBATE                        
   97-04-09  H  THIRD READING/SHORT DEBATE/PASSED        115-001-001           
   97-04-10  S  ARRIVE IN SENATE                                               
   97-04-10  S  PLACED CALENDAR ORDER OF FIRST READING                         
   97-04-10  S  CHIEF SPONSOR                            MADIGAN               
   97-04-10  S  ADDED AS A CHIEF CO-SPONSOR              DELEO                 
   97-04-10  S  FIRST READING                                                  
   97-04-10  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   97-04-17  S       ASSIGNED TO COMMITTEE               INS & PENS.           
   97-04-24  S                        PENSION NOTE FILED AS ENGROSSED          
   97-04-29  S       DO PASS                             009-000-000   SINS    
   97-04-29  S  PLACED ON CALENDAR ORDER OF 2ND READING  97-04-30              
   97-04-30  S  SECOND READING                                                 
   97-04-30  S  PLACED ON CALENDAR ORDER OF 3RD READING  97-05-01              
   97-05-08  S  THIRD READING - PASSED                   050-002-000           
   97-05-08  H  PASSED BOTH HOUSES                                             
   97-05-12  H  SENT TO THE GOVERNOR                                           
   97-06-27  H  GOVERNOR APPROVED                                              
   97-06-27  H                            EFFECTIVE DATE 97-06-27              
   97-06-27  H  PUBLIC ACT.............................. 90-0031               

   END OF INQUIRY 



 Full Text  Bill Summary