Illinois House Bill 4427 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Republican 17-4)
Status: Introduced on January 11 2016 - 25% progression, died in committee
Action: 2016-08-15 - Added Co-Sponsor Rep. David S. Olsen
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the General Assembly, State Employee, State Universities, Downstate Teachers, and Judges Articles of the Illinois Pension Code. Provides that beginning January 1, 2017, a person under one of those Articles who (i) has terminated service,(ii) is eligible to receive a retirement annuity, (iii) has not received a retirement annuity under that Article, and (iv) meets certain other eligibility requirements may elect to receive, in lieu of a retirement annuity, a lump sum accelerated pension benefit payment equal to 75% of the present value of the retirement annuity or may elect to receive a lump sum partial accelerated pension benefit payment in exchange for a specified reduction in his or her retirement annuity and all other benefits under the Article. Provides that a person may not elect a percentage reduction of retirement annuity that would result in a partial accelerated benefit payment of less than $50,000. Provides that if a person elects to receive a lump sum accelerated pension benefit payment in lieu of a retirement annuity, his or her credits and creditable service under that Article shall be terminated upon receipt of the accelerated pension benefit payment; except that the terminated service credit shall be used for the purposes of determining participation, benefits, or premiums under the State Employees Group Insurance Act of 1971. Contains provisions concerning return to service, rulemaking, qualified plan status, and new benefit increases. Amends the State Employees Group Insurance Act of 1971 to make related changes. Effective immediately.

PEN CD-ACCEL BENEFIT PAYMENT

Rep. Mark Batinick [R]	Sen. Robert Martwick [D]	Rep. David Harris [R]	Rep. Jack Franks [D]
Rep. Grant Wehrli [R]	Rep. Keith Wheeler [R]	Rep. Margo McDermed [R]	Rep. Steven Andersson [R]
Rep. Sheri Jesiel [R]	Rep. Thomas Morrison [R]	Rep. Carol Sente [D]	Rep. Barbara Wheeler [R]
Rep. Reginald Phillips [R]	Rep. Keith Sommer [R]	Sen. Thomas Bennett [R]	Rep. Peter Breen [R]
Rep. Michael Tryon [R]	Rep. David McSweeney [R]	Rep. Linda LaVia [D]	Rep. Tom Demmer [R]
Rep. David Olsen [R]

Date	Chamber	Action
2016-08-15	House	Added Co-Sponsor Rep. David S. Olsen
2016-04-15	House	Added Co-Sponsor Rep. Tom Demmer
2016-04-15	House	Added Co-Sponsor Rep. Linda Chapa LaVia
2016-04-08	House	Rule 19(a) / Re-referred to Rules Committee
2016-04-05	House	Added Co-Sponsor Rep. David McSweeney
2016-03-29	House	Added Co-Sponsor Rep. Michael W. Tryon
2016-02-16	House	Assigned to Personnel and Pensions Committee
2016-01-27	House	Added Co-Sponsor Rep. Peter Breen
2016-01-27	House	Added Co-Sponsor Rep. Thomas M. Bennett
2016-01-27	House	Added Co-Sponsor Rep. Keith P. Sommer
2016-01-19	House	Added Co-Sponsor Rep. Reginald Phillips
2016-01-15	House	Referred to Rules Committee
2016-01-15	House	First Reading
2016-01-15	House	Added Co-Sponsor Rep. Barbara Wheeler
2016-01-12	House	Added Co-Sponsor Rep. Carol Sente
2016-01-12	House	Added Co-Sponsor Rep. Thomas Morrison
2016-01-12	House	Added Co-Sponsor Rep. Sheri Jesiel
2016-01-12	House	Added Chief Co-Sponsor Rep. Grant Wehrli
2016-01-12	House	Removed Co-Sponsor Rep. Grant Wehrli
2016-01-11	House	Co-Sponsor Rep. Steven A. Andersson
2016-01-11	House	Co-Sponsor Rep. Margo McDermed
2016-01-11	House	Co-Sponsor Rep. Keith R. Wheeler
2016-01-11	House	Co-Sponsor Rep. Grant Wehrli
2016-01-11	House	Chief Co-Sponsor Rep. Jack D. Franks
2016-01-11	House	Chief Co-Sponsor Rep. David Harris
2016-01-11	House	Chief Co-Sponsor Rep. Robert Martwick
2016-01-11	House	Filed with the Clerk by Rep. Mark Batinick

Chapter	Article	Section	Citation Type	Statute Text
40	5	14-147.5	New Code	See Bill Text
40	5	14-147.6	New Code	See Bill Text
40	5	14-152.1	Amended Code	Citation Text
40	5	15-185.5	New Code	See Bill Text
40	5	15-185.6	New Code	See Bill Text
40	5	15-198	Amended Code	Citation Text
40	5	16-190.5	New Code	See Bill Text
40	5	16-190.6	New Code	See Bill Text
40	5	16-203	Amended Code	Citation Text
40	5	18-161.5	New Code	See Bill Text
40	5	18-161.6	New Code	See Bill Text
40	5	18-169	Amended Code	Citation Text
40	5	2-154.5	New Code	See Bill Text
40	5	2-154.6	New Code	See Bill Text
40	5	2-162	Amended Code	Citation Text
5	375	10	Amended Code	Citation Text
5	375	3	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4427&GAID=13&DocTypeID=HB&SessionID=88&GA=99
Text	https://www.ilga.gov/legislation/99/HB/09900HB4427.htm