Bill Status of HB 5448   103rd General Assembly

Short Description:  PENSIONS-VARIOUS

House Sponsors
Rep. Steven Reick

Last Action  View All Actions

DateChamber Action
  4/5/2024HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
40 ILCS 5/1-160
40 ILCS 5/2-108.1from Ch. 108 1/2, par. 2-108.1
40 ILCS 5/2-119.1from Ch. 108 1/2, par. 2-119.1
40 ILCS 5/14-103.10from Ch. 108 1/2, par. 14-103.10
40 ILCS 5/15-111from Ch. 108 1/2, par. 15-111
40 ILCS 5/18-125from Ch. 108 1/2, par. 18-125
40 ILCS 5/18-128.01from Ch. 108 1/2, par. 18-128.01
40 ILCS 5/1-103.3
40 ILCS 5/2-124from Ch. 108 1/2, par. 2-124
40 ILCS 5/14-131
40 ILCS 5/15-155from Ch. 108 1/2, par. 15-155
40 ILCS 5/16-158from Ch. 108 1/2, par. 16-158
40 ILCS 5/18-131from Ch. 108 1/2, par. 18-131
40 ILCS 5/2-101from Ch. 108 1/2, par. 2-101
40 ILCS 5/2-105from Ch. 108 1/2, par. 2-105
40 ILCS 5/2-107from Ch. 108 1/2, par. 2-107
40 ILCS 5/2-117from Ch. 108 1/2, par. 2-117
40 ILCS 5/14-103.05from Ch. 108 1/2, par. 14-103.05
40 ILCS 5/14-104from Ch. 108 1/2, par. 14-104
40 ILCS 5/14-105.4from Ch. 108 1/2, par. 14-105.4
40 ILCS 5/18-101from Ch. 108 1/2, par. 18-101
40 ILCS 5/18-108from Ch. 108 1/2, par. 18-108
40 ILCS 5/18-109from Ch. 108 1/2, par. 18-109
40 ILCS 5/18-110from Ch. 108 1/2, par. 18-110
40 ILCS 5/2-162
40 ILCS 5/14-152.1
40 ILCS 5/15-198
40 ILCS 5/16-203
40 ILCS 5/18-169
30 ILCS 805/8.47 new

Synopsis As Introduced
Amends the Illinois Pension Code. Provides that, beginning January 1, 2024, the annual earnings, salary, or wages (based on the plan year) of a Tier 2 member or participant under the General Assembly, State Employees, State Universities, Downstate Teachers, Chicago Teachers, or Judges Article shall not exceed 90.5% of the federal Social Security Wage Base then in effect or the amount otherwise calculated under the Tier 2 provisions, whichever is greater. Makes changes to the funding formula beginning in fiscal year 2025 for the 5 State-funded retirement systems. Restricts participation in the General Assembly Retirement System and Judges Retirement System to persons who first become participants before January 8, 2025. Provides for participation under the State Employees Article by members of the General Assembly and judges. Provides that any benefit increase that results from the amendatory Act is excluded from the definition of "new benefit increase". Amends the State Mandates Act to require implementation without reimbursement by the State. Effective immediately.

Actions 
DateChamber Action
  2/9/2024HouseFiled with the Clerk by Rep. Steven Reick
  2/9/2024HouseFirst Reading
  2/9/2024HouseReferred to Rules Committee
  3/12/2024HouseAssigned to Personnel & Pensions Committee
  4/5/2024HouseRule 19(a) / Re-referred to Rules Committee

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