Bill Status of HB 1572   101st General Assembly

Short Description:  PENCD-DWNST POL&FIRE-FINANCING

House Sponsors
Rep. Ryan Spain

Last Action  View All Actions

DateChamber Action
  1/13/2021HouseSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/1-165.5 new
40 ILCS 5/3-125from Ch. 108 1/2, par. 3-125
40 ILCS 5/4-118from Ch. 108 1/2, par. 4-118
30 ILCS 805/8.43 new

Synopsis As Introduced
Amends the Illinois Pension Code. In the Downstate Police and Downstate Firefighter Articles, provides that the annual employer contribution shall include an amount sufficient to bring the total assets of the pension fund up to 80% (instead of 90%) of the total actuarial liabilities of the pension fund by the end of municipal fiscal year 2050 (instead of 2040). Makes a conforming change. In the General Provisions Article, requires the Commission on Government Forecasting and Accountability to conduct a study on the costs and benefits of consolidating all downstate police and downstate firefighter pension funds into a single pension fund and to submit its report on its findings to the General Assembly on or before December 1, 2020. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions 
DateChamber Action
  1/30/2019HouseFiled with the Clerk by Rep. Ryan Spain
  2/1/2019HouseFirst Reading
  2/1/2019HouseReferred to Rules Committee
  2/13/2019HouseAssigned to Personnel & Pensions Committee
  2/21/2019HouseTo Pension Reform Subcommittee
  3/29/2019HouseRule 19(a) / Re-referred to Rules Committee
  2/18/2020HouseAssigned to Personnel & Pensions Committee
  6/23/2020HouseRule 19(b) / Re-referred to Rules Committee
  1/13/2021HouseSession Sine Die

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