Bill Status of SB 3044   94th General Assembly

Short Description:  PENCD-FUNDING STATE SYSTEMS

Senate Sponsors
Sen. John O. Jones-Frank C. Watson-David Luechtefeld-Carole Pankau-Gary G. Dahl, William E. Peterson, Adeline Jay Geo-Karis, Wendell E. Jones, Larry K. Bomke, Dave Syverson, Cheryl Axley, Kirk W. Dillard, Bill Brady, Christine Radogno, John J. Millner and Pamela J. Althoff

Last Action  View All Actions

DateChamber Action
  1/9/2007SenateSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/2-124from Ch. 108 1/2, par. 2-124
40 ILCS 5/2-134from Ch. 108 1/2, par. 2-134
40 ILCS 5/14-108.3
40 ILCS 5/14-131from Ch. 108 1/2, par. 14-131
40 ILCS 5/14-135.08from Ch. 108 1/2, par. 14-135.08
40 ILCS 5/15-155from Ch. 108 1/2, par. 15-155
40 ILCS 5/15-165from Ch. 108 1/2, par. 15-165
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 5/18-140from Ch. 108 1/2, par. 18-140

Synopsis As Introduced
Amends the Illinois Pension Code. In provisions concerning the 5 State-funded retirement systems, deletes language specifying dollar amounts for the State contribution to each System required for FY 2007 and provides that State contributions to the systems for fiscal years 2007 through 2010 shall be increased in equal annual increments from the required State contributions in State fiscal year 2005 until the State is contributing at a rate that will result in the systems being 90% funded. Changes how certain calculations related to the required State contributions are made. Provides that the Board of Trustees of the retirement systems must re-certify, on or before July 1, 2006, the amount of the required State contribution for FY 2007, taking into account the changes made by this amendatory Act. In the State Employee Article of the Illinois Pension Code, provides that increases as a result of certain early retirement incentives shall not be included in the calculation of the required State contribution under that Article, but shall be appropriated separately. Effective immediately.

Actions 
DateChamber Action
  1/20/2006SenateFiled with Secretary by Sen. John O. Jones
  1/20/2006SenateChief Co-Sponsor Sen. Frank C. Watson
  1/20/2006SenateChief Co-Sponsor Sen. David Luechtefeld
  1/20/2006SenateChief Co-Sponsor Sen. Carole Pankau
  1/20/2006SenateChief Co-Sponsor Sen. Gary G. Dahl
  1/20/2006SenateCo-Sponsor Sen. William E. Peterson
  1/20/2006SenateCo-Sponsor Sen. Adeline Jay Geo-Karis
  1/20/2006SenateCo-Sponsor Sen. Wendell E. Jones
  1/20/2006SenateCo-Sponsor Sen. Larry K. Bomke
  1/20/2006SenateCo-Sponsor Sen. Dave Syverson
  1/20/2006SenateCo-Sponsor Sen. Cheryl Axley
  1/20/2006SenateCo-Sponsor Sen. Kirk W. Dillard
  1/20/2006SenateCo-Sponsor Sen. Bill Brady
  1/20/2006SenateFirst Reading
  1/20/2006SenateReferred to Rules
  1/24/2006SenateAdded as Co-Sponsor Sen. Christine Radogno
  1/31/2006SenateAdded as Co-Sponsor Sen. John J. Millner
  1/31/2006SenateAdded as Co-Sponsor Sen. Pamela J. Althoff
  1/9/2007SenateSession Sine Die

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