IL HB3370 | 2011-2012 | 97th General Assembly

Status

Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Amended) [HTML]

Summary

Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. Requires the Fund, by rule, to establish a defined contribution benefit plan. Requires the plan to be qualified under the Internal Revenue Code of 1986 and to authorize each participating municipality and participating instrumentality to (i) require participation in the plan by any person who first becomes its employee on or after January 1, 2012, (ii) define benefit levels and employer contributions as it sees fit, (iii) make benefit changes as it deems appropriate, and (iv) otherwise administer the plan. Provides that participating municipalities and instrumentalities must elect to participate in the plan by no later than January 1, 2012. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Tracking Information

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Title

PEN CD-IMRF-DEF CONTRIB PLAN

Sponsors


History

DateChamberAction
2013-01-08HouseSession Sine Die
2011-03-17HouseRule 19(a) / Re-referred to Rules Committee
2011-03-17HouseHouse Committee Amendment No. 1 Tabled Pursuant to Rule 40
2011-03-07HouseHouse Committee Amendment No. 1 Rules Refers to Personnel and Pensions Committee
2011-03-04HouseHouse Committee Amendment No. 1 Referred to Rules Committee
2011-03-04HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Mike Fortner
2011-02-28HouseAssigned to Personnel and Pensions Committee
2011-02-24HouseReferred to Rules Committee
2011-02-24HouseFirst Reading
2011-02-24HouseFiled with the Clerk by Rep. Mike Fortner

Code Citations

ChapterArticleSectionCitation TypeStatute Text
308058.35New CodeSee Bill Text
4057-173.3New CodeSee Bill Text

Illinois State Sources


Bill Comments

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