92nd General Assembly
Summary of HB3679
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House Sponsors:
SMITH,MICHAEL.

Short description: 
PEN CD-IMRF-ECO RESERVES                                                   

Synopsis of Bill as introduced:
        Amends the Illinois Municipal  Retirement  Fund  Article  of  the      
   Illinois  Pension  Code.   Provides  that  each county with current or      
   former  elected  county  officers  participating  in  the  alternative      
   annuity program shall  have  a  separate  employer  contribution  rate      
   computed  for those elected officers, and provides that those officers      
   shall be treated as a separate unit within the Fund.  Provides that  a      
   municipality  may  transfer funds among its reserves, from one that is      
   over 100% funded to one that is  less,  under  certain  circumstances.      
   Effective immediately.                                                      
          PENSION NOTE (Pension Laws Commission)                               
          The fiscal impact of HB 3679 cannot be determined and would          
          vary among municipalities. The fiscal impact is expected to          
          very minor, as only accounting changes are provided for in           
          HB 3679.                                                             
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



 Full Text  Bill Status