Bill Title: Amends the Illinois Pension Code. Requires current participants in the State-funded pension and retirement systems to make a one-time, irrevocable election of one of the following: (i) the traditional benefit package under the applicable Article of the Pension Code, (ii) the existing benefit package for new hires, or (iii) a self-managed plan (if made available by the participant's employer). Authorizes persons who became or become participants on or after January 1, 2011 to irrevocably elect either: (i) the benefit package for new hires or (ii) the self-managed plan (if made available by the participant's employer). Sets forth the requirements for the self-managed plan and provides that if such a plan is available it is the default plan if a participant fails to make an election. In the Articles creating the State-funded pension and retirement systems, provides: (i) that, beginning in fiscal year 2013, the State's required contribution is the greater of 6% of the applicable employee payroll or one-half of the actuarially-determined normal cost of the benefit package for new hires and (ii) that the required employee contribution will be based on the benefit package elected by the participant. Amends the Illinois Public Labor Relations Act to provide that the changes made by the amendatory Act control when there is a conflict with the Illinois Public Labor Relations Act.

Spectrum: Partisan Bill (Republican 7-0)

Status: (Failed) 2013-01-08 - Session Sine Die [HB0149 Detail]

Text: Latest bill text (Introduced) [HTML]

---

Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Tom Cross [R]	Primary	Sponsored Bills	HD-097	FollowTheMoney	Ballotpedia	VoteSmart
Representative Dave Winters [R]	Cosponsor	Sponsored Bills	HD-068	FollowTheMoney	Ballotpedia	VoteSmart
Representative Darlene Senger [R]	Cosponsor	Sponsored Bills	HD-041	FollowTheMoney	Ballotpedia	VoteSmart
Representative Sandra Pihos [R]	Cosponsor	Sponsored Bills	HD-048	FollowTheMoney	Ballotpedia	VoteSmart
Senator Chris Nybo [R]	Cosponsor	Sponsored Bills	SD-024	FollowTheMoney	Ballotpedia	VoteSmart
Representative David Harris [R]	Cosponsor	Sponsored Bills	HD-053	FollowTheMoney	Ballotpedia	VoteSmart
Representative David Leitch [R]	Cosponsor	Sponsored Bills	HD-073	FollowTheMoney	Ballotpedia	VoteSmart

Social Comments on IL HB0149