Senate Sponsors: MOLARO. Short description: PEN CD-ALL PUB EMPLS-NEW PLAN Synopsis of Bill as introduced: Amends the Illinois Pension Code. Provides for the creation of a new defined-contribution retirement plan for all new public officers and employees. Excludes new public officers and employees from the existing pension funds created under the Pension Code. Pre-empts home rule power. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) Fiscal impact cannot be calculated. Impact would vary by Fund and would depend on normal cost of future employees relative to employer contributions. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status