SB1925 - 104th General Assembly (2025-2026)

PEN CD-IMRF-MUNI CONTRIBUTION
Last Action
3/21/2025 - Senate: Rule 3-9(a) / Re-referred to Assignments
Senate Sponsors
Sen. Michael W. Halpin
Statutes Amended In Order of Appearance
40 ILCS 5/7-172  from Ch. 108 1/2, par. 7-172
Synopsis As Introduced
Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. In a provision requiring a participating municipality or participating instrumentality to pay an additional contribution to the Fund for certain earnings increases above 6% or 1.5 times the annual increase in the consumer price index-u, whichever is greater, provides that the payments must be concluded within 7 years (instead of 3 years) after receipt of the bill by the participating municipality or participating instrumentality. Effective immediately.
Actions
DateChamberAction
2/06/2025SenateFiled with Secretary by Sen. Michael W. Halpin
2/06/2025SenateFirst Reading
2/06/2025SenateReferred to Assignments
3/12/2025SenateAssigned to Pensions
3/21/2025SenateRule 3-9(a) / Re-referred to Assignments