Bill Text: IL SB1635 | 2013-2014 | 98th General Assembly | Amended
Bill Title: Amends the Chicago Firefighter Article of the Illinois Pension Code. Provides that when any amounts are refunded, the corresponding city contributions and interest, unless needed for the prior service annuity reserve, shall be used to reduce the unfunded liability of the fund (rather than to reduce a future city contribution). Amends the State Mandates Act to require implementation without reimbursement.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2015-01-13 - Session Sine Die [SB1635 Detail]
Download: Illinois-2013-SB1635-Amended.html
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1 | AMENDMENT TO SENATE BILL 1635
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2 | AMENDMENT NO. ______. Amend Senate Bill 1635 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 5. The Illinois Pension Code is amended by adding | ||||||
5 | Section 6-230 as follows:
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6 | (40 ILCS 5/6-230 new) | ||||||
7 | Sec. 6-230. Non-forfeitability. Upon termination of the | ||||||
8 | Fund or upon the complete discontinuance of contributions to | ||||||
9 | the Fund, the rights of each participant to benefits accrued to | ||||||
10 | the date of the termination or discontinuance are | ||||||
11 | non-forfeitable to the extent then funded.
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12 | Section 90. The State Mandates Act is amended by adding | ||||||
13 | Section 8.37 as follows:
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14 | (30 ILCS 805/8.37 new) |
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1 | Sec. 8.37. Exempt mandate. Notwithstanding Sections 6 and 8 | ||||||
2 | of this Act, no reimbursement by the State is required for the | ||||||
3 | implementation of any mandate created by this amendatory Act of | ||||||
4 | the 98th General Assembly. ".
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