Bill Status of HB 2973   102nd General Assembly

Short Description:  PENCD-STATE SYS-TIER 3 PLAN

House Sponsors
Rep. Thomas Morrison

Last Action  View All Actions

DateChamber Action
  1/10/2023HouseSession Sine Die

Statutes Amended In Order of Appearance
5 ILCS 375/3from Ch. 127, par. 523
5 ILCS 375/10from Ch. 127, par. 530
40 ILCS 5/1-160
40 ILCS 5/1-161
40 ILCS 5/2-105.3 new
40 ILCS 5/2-117from Ch. 108 1/2, par. 2-117
40 ILCS 5/2-162
40 ILCS 5/2-165.5 new
40 ILCS 5/7-114from Ch. 108 1/2, par. 7-114
40 ILCS 5/7-116from Ch. 108 1/2, par. 7-116
40 ILCS 5/7-139from Ch. 108 1/2, par. 7-139
40 ILCS 5/14-103.05from Ch. 108 1/2, par. 14-103.05
40 ILCS 5/14-103.10from Ch. 108 1/2, par. 14-103.10
40 ILCS 5/14-103.41
40 ILCS 5/14-104.3from Ch. 108 1/2, par. 14-104.3
40 ILCS 5/14-106from Ch. 108 1/2, par. 14-106
40 ILCS 5/14-152.1
40 ILCS 5/14-155.5 new
40 ILCS 5/15-108.1
40 ILCS 5/15-108.2
40 ILCS 5/15-108.3 new
40 ILCS 5/15-112from Ch. 108 1/2, par. 15-112
40 ILCS 5/15-113.4from Ch. 108 1/2, par. 15-113.4
40 ILCS 5/15-134from Ch. 108 1/2, par. 15-134
40 ILCS 5/15-198
40 ILCS 5/15-200.5 new
40 ILCS 5/16-106.41
40 ILCS 5/16-123from Ch. 108 1/2, par. 16-123
40 ILCS 5/16-127from Ch. 108 1/2, par. 16-127
40 ILCS 5/16-152.1from Ch. 108 1/2, par. 16-152.1
40 ILCS 5/16-203
40 ILCS 5/16-205.5 new
40 ILCS 5/18-110.1 new
40 ILCS 5/18-120from Ch. 108 1/2, par. 18-120
40 ILCS 5/18-121.5 new
40 ILCS 5/18-124from Ch. 108 1/2, par. 18-124
40 ILCS 5/18-125from Ch. 108 1/2, par. 18-125
40 ILCS 5/18-125.1from Ch. 108 1/2, par. 18-125.1
40 ILCS 5/18-127from Ch. 108 1/2, par. 18-127
40 ILCS 5/18-128.01from Ch. 108 1/2, par. 18-128.01
40 ILCS 5/18-133from Ch. 108 1/2, par. 18-133
40 ILCS 5/18-169
40 ILCS 5/20-121from Ch. 108 1/2, par. 20-121
40 ILCS 5/20-123from Ch. 108 1/2, par. 20-123
40 ILCS 5/20-124from Ch. 108 1/2, par. 20-124
40 ILCS 5/20-125from Ch. 108 1/2, par. 20-125
115 ILCS 5/4from Ch. 48, par. 1704
115 ILCS 5/10.6 new
115 ILCS 5/17from Ch. 48, par. 1717

Synopsis As Introduced
Amends the Illinois Pension Code. With respect to the 5 State-funded Retirement Systems: requires each System to prepare and implement a Tier 3 plan by July 1, 2022 that aggregates State and employee contributions in individual participant accounts that are used for payouts after retirement. Provides that a Tier 1 or Tier 2 participant may irrevocably elect to participate in the Tier 3 plan instead of the defined benefit plan and may also elect to terminate all participation in the defined benefit plan and to have a specified amount credited to his or her account under the Tier 3 plan. Makes related changes in the State Employees Group Insurance Act of 1971. In the Downstate Teachers, State Employees, and State Universities Articles, authorizes a person to elect not to participate or to terminate participation in those Systems. In the General Assembly and Judges Articles, authorizes a participant to terminate his or her participation in the System. In the Illinois Municipal Retirement Fund (IMRF), State Employees, State Universities, and Downstate Teachers Articles, for participants who first become participants on or after the effective date, prohibits (i) payments for unused sick or vacation time from being used to calculate pensionable salary and (ii) unused sick or vacation time from being used to establish service credit. In the Downstate Teachers Article, prohibits an employer from making employee contributions on behalf of an employee, except for the sole purpose of allowing an employee to make pre-tax contributions. Amends the Illinois Educational Labor Relations Act to prohibit collective bargaining over that prohibition. Effective immediately.

Actions 
DateChamber Action
  2/18/2021HouseFiled with the Clerk by Rep. Thomas Morrison
  2/19/2021HouseFirst Reading
  2/19/2021HouseReferred to Rules Committee
  3/9/2021HouseAssigned to Personnel & Pensions Committee
  3/27/2021HouseRule 19(a) / Re-referred to Rules Committee
  1/10/2023HouseSession Sine Die

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