Date	Chamber	Action
1/10/2023	House	Session Sine Die

Statutes Amended In Order of Appearance

40 ILCS 5/8-173

from Ch. 108 1/2, par. 8-173

30 ILCS 805/8.45 new

Synopsis As Introduced
Amends the Chicago Municipal Article of the Illinois Pension Code. Provides that, instead of specified dollar amounts, the city's required annual contribution to the Fund shall be for year 2021, 80% of the following calculation; and for year 2022, 90% of the following calculation: the sum of (i) the city's portion of the projected normal cost for that fiscal year, plus (ii) an amount determined on a level percentage of applicable employee payroll basis (reflecting any limits on individual participants' pay that apply for benefit and contribution purposes under the plan) that is sufficient to bring the total actuarial assets of the Fund up to 90% of the total actuarial liabilities of the Fund by the end of 2058. Makes conforming changes. Amends the State Mandates Act to require implementation without reimbursement by the State. Effective immediately.

Actions 

Date	Chamber	Action
2/16/2021	House	Filed with the Clerk by Rep. Sonya M. Harper
2/17/2021	House	First Reading
2/17/2021	House	Referred to Rules Committee
3/9/2021	House	Assigned to Personnel & Pensions Committee
3/27/2021	House	Rule 19(a) / Re-referred to Rules Committee
1/10/2023	House	Session Sine Die

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