Bill Status of HB 5088   95th General Assembly

Short Description:  PENSIONS-UNCLAIMED PROPERTY

House Sponsors
Rep. Mark H. Beaubien, Jr.-Robert S. Molaro-John A. Fritchey-Sandra M. Pihos-Tom Cross, JoAnn D. Osmond, Elizabeth Coulson, Patricia Reid Lindner, Angelo Saviano, Sidney H. Mathias, Daniel V. Beiser, Thomas Holbrook, Chapin Rose, David E. Miller, David R. Leitch, Mike Fortner, Patrick J Verschoore, Rosemary Mulligan, Linda Chapa LaVia, Elaine Nekritz, Fred Crespo, Jack D. Franks, Bob Biggins, Michael P. McAuliffe, William B. Black, Robert W. Pritchard, Carolyn H. Krause, Jerry L. Mitchell, Ruth Munson, Jil Tracy, Ronald A. Wait, Dennis M. Reboletti, Brent Hassert, Raymond Poe, Rich Brauer, Roger L. Eddy, Timothy L. Schmitz, Mike Bost, Michael Tryon, Sandy Cole, Jim Sacia, Patricia R. Bellock, Renée Kosel, David Reis, Shane Cultra and Keith P. Sommer

Senate Sponsors
(Sen. Deanna Demuzio, Mattie Hunter-M. Maggie Crotty, Jeffrey M. Schoenberg, Chris Lauzen, Heather Steans, Linda Holmes-Susan Garrett and Kwame Raoul)


Last Action  View All Actions

DateChamber Action
  8/29/2008HousePublic Act . . . . . . . . . 95-0950

Statutes Amended In Order of Appearance
30 ILCS 105/8.12from Ch. 127, par. 144.12
40 ILCS 5/2-124from Ch. 108 1/2, par. 2-124
40 ILCS 5/14-131from Ch. 108 1/2, par. 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 15/1
765 ILCS 1025/18from Ch. 141, par. 118

Synopsis As Introduced
Amends the State Finance Act. Provides that moneys in the State Pensions Fund shall be used for the funding of the unfunded liabilities of the 5 State-funded retirement systems (rather than for payment of or repayment to the General Revenue Fund of a portion of the required State contributions to the designated retirement systems). Provides that the payments to the designated retirement systems shall be in addition to, and not in lieu of, any State contributions required under the Illinois Pension Code. Provides that, for fiscal year 2010 and each fiscal year thereafter, as soon as may be practical after any money is deposited into the State Pensions Fund from the Unclaimed Property Trust Fund, the State Treasurer shall apportion the deposited amount to the designated retirement systems to reduce their actuarial reserve deficiencies. Provides that the amount apportioned to each designated retirement system shall constitute a portion of the amount estimated to be available for appropriation from the State Pensions Fund that is the same as that retirement system's portion of the total actuarial reserve deficiency of the systems. Makes conforming changes in the Illinois Pension Code, the State Pension Funds Continuing Appropriation Act, and the Uniform Disposition of Unclaimed Property Act. Effective immediately.

 Pension Note (Government Forecasting & Accountability)
 HB 5088 will have a positive impact on the State-funded retirement systems as all monies disbursed to the systems from the State Pensions Fund will no longer comprise any portion of the regular State appropriation to the retirement systems. These amounts disbursed from the State Pensions Fund will be in addition to the regular annual appropriation.

Senate Floor Amendment No. 1
In provisions amending the State Finance Act, changes the fiscal year in which the State Treasurer shall apportion the amounts deposited into the State Pensions Fund from the Unclaimed Property Trust Fund among the designated retirement systems from fiscal year 2010 to fiscal year 2011.

Senate Floor Amendment No. 2
Adds reference to:
20 ILCS 2105/2105-300was 20 ILCS 2105/61e
25 ILCS 55/3from Ch. 63, par. 42.43
30 ILCS 105/8f
40 ILCS 5/1-110from Ch. 108 1/2, par. 1-110
40 ILCS 5/1-113.5
40 ILCS 5/1-125 new
40 ILCS 5/1A-104
40 ILCS 5/3-141.1 new
40 ILCS 5/3-143from Ch. 108 1/2, par. 3-143
40 ILCS 5/3-144.5 new
40 ILCS 5/4-134from Ch. 108 1/2, par. 4-134
40 ILCS 5/4-138.5 new
40 ILCS 5/22-1004 new
30 ILCS 805/8.32 new

Amends the Department of Professional Regulation Law of the Civil Administrative Code of Illinois and the State Finance Act to prohibit transfers to the Professions Indirect Cost Fund from the Public Pension Regulation Fund. Amends the Pension Impact Note Act to provide that the pension impact note for any legislation or amendment that the Commission on Government Forecasting and Accountability determines would result in an increase in benefits or increased costs to a downstate police or fire pension fund may demonstrate the fiscal impact of the legislation on selected individual municipalities with such pension funds. Further amends the Illinois Pension Code. Makes changes in provisions concerning fiduciaries of and investments by downstate police and fire pension funds. Prohibits a trustee of a downstate police or fire pension board from intentionally soliciting or accepting any gift from a prohibited source. Makes changes in provisions concerning annual reports submitted by downstate police and fire pension funds to the municipality. In the Downstate Police Article, adds provisions concerning the award of benefits and makes changes concerning examinations and investigations. In the Downstate Firefighter Article, adds provisions concerning fraud. Requires the Commission on Government Forecasting and Accountability to analyze data submitted by the Public Pension Division pertaining to downstate police and fire pension funds in each odd numbered year. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions 
DateChamber Action
  2/13/2008HouseFiled with the Clerk by Rep. Robert S. Molaro
  2/14/2008HouseAdded Chief Co-Sponsor Rep. John A. Fritchey
  2/14/2008HouseFirst Reading
  2/14/2008HouseReferred to Rules Committee
  2/27/2008HouseAdded Chief Co-Sponsor Rep. Sandra M. Pihos
  3/3/2008HouseAssigned to Judiciary I - Civil Law Committee
  3/11/2008HousePension Note Filed
  3/12/2008HouseDo Pass / Short Debate Judiciary I - Civil Law Committee; 010-003-000
  3/12/2008HousePlaced on Calendar 2nd Reading - Short Debate
  4/1/2008HouseAdded Chief Co-Sponsor Rep. Tom Cross
  4/1/2008HouseAdded Chief Co-Sponsor Rep. JoAnn D. Osmond
  4/1/2008HouseAdded Co-Sponsor Rep. Mark H. Beaubien, Jr.
  4/1/2008HouseAdded Co-Sponsor Rep. Elizabeth Coulson
  4/1/2008HouseAdded Co-Sponsor Rep. Patricia Reid Lindner
  4/2/2008HouseAdded Co-Sponsor Rep. Angelo Saviano
  4/2/2008HouseSecond Reading - Short Debate
  4/2/2008HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/2/2008HouseAdded Co-Sponsor Rep. Sidney H. Mathias
  4/3/2008HouseAdded Co-Sponsor Rep. Daniel V. Beiser
  4/3/2008HouseAdded Co-Sponsor Rep. Thomas Holbrook
  4/3/2008HouseAdded Co-Sponsor Rep. Chapin Rose
  4/3/2008HouseAdded Co-Sponsor Rep. David E. Miller
  4/3/2008HouseAdded Co-Sponsor Rep. David R. Leitch
  4/3/2008HouseAdded Co-Sponsor Rep. Mike Fortner
  4/3/2008HouseThird Reading - Short Debate - Passed 108-000-000
  4/7/2008HouseAdded Co-Sponsor Rep. Patrick J Verschoore
  4/8/2008SenateArrive in Senate
  4/8/2008SenatePlaced on Calendar Order of First Reading
  4/8/2008SenateChief Senate Sponsor Sen. Deanna Demuzio
  4/8/2008SenateFirst Reading
  4/8/2008SenateReferred to Rules
  4/17/2008SenateAssigned to Pensions and Investments
  5/1/2008SenateAdded as Alternate Co-Sponsor Sen. Mattie Hunter
  5/8/2008SenateDo Pass Pensions and Investments; 007-000-000
  5/8/2008SenatePlaced on Calendar Order of 2nd Reading May 13, 2008
  5/13/2008SenateAdded as Alternate Chief Co-Sponsor Sen. M. Maggie Crotty
  5/13/2008SenateAdded as Alternate Co-Sponsor Sen. Jeffrey M. Schoenberg
  5/13/2008SenateSecond Reading
  5/13/2008SenatePlaced on Calendar Order of 3rd Reading May 14, 2008
  5/14/2008SenateAdded as Alternate Co-Sponsor Sen. Chris Lauzen
  5/14/2008SenateAdded as Alternate Co-Sponsor Sen. Heather Steans
  5/23/2008SenateRule 2-10 Third Reading Deadline Established As May 31, 2008
  5/27/2008SenateAdded as Alternate Co-Sponsor Sen. Linda Holmes
  5/28/2008SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Deanna Demuzio
  5/28/2008SenateSenate Floor Amendment No. 1 Referred to Rules
  5/29/2008SenateSenate Floor Amendment No. 1 Rules Refers to Pensions and Investments
  5/30/2008SenateSenate Floor Amendment No. 1 Recommend Do Adopt Pensions and Investments; 006-000-001
  5/30/2008SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Susan Garrett
  5/30/2008SenateSenate Floor Amendment No. 2 Referred to Rules
  5/30/2008SenateAdded as Alternate Chief Co-Sponsor Sen. Susan Garrett
  5/30/2008SenateRecalled to Second Reading
  5/30/2008SenateSenate Floor Amendment No. 1 Adopted; Demuzio
  5/30/2008SenatePlaced on Calendar Order of 3rd Reading May 31, 2008
  5/30/2008SenateSenate Floor Amendment No. 2 Rules Refers to Pensions and Investments
  5/31/2008SenateSenate Floor Amendment No. 2 Recommend Do Adopt Pensions and Investments; 009-000-000
  5/31/2008SenateRecalled to Second Reading
  5/31/2008SenateSenate Floor Amendment No. 2 Adopted; Garrett
  5/31/2008SenatePlaced on Calendar Order of 3rd Reading
  5/31/2008SenateThird Reading - Passed; 056-000-000
  5/31/2008HouseArrived in House
  5/31/2008HousePlaced on Calendar Order of Concurrence Senate Amendment(s) 1,2
  5/31/2008HouseChief Sponsor Changed to Rep. Mark H. Beaubien, Jr.
  5/31/2008HouseAdded Chief Co-Sponsor Rep. Robert S. Molaro
  5/31/2008HouseRemove Chief Co-Sponsor Rep. JoAnn D. Osmond
  5/31/2008HouseAdded Co-Sponsor Rep. JoAnn D. Osmond
  5/31/2008HouseSenate Floor Amendment No. 1 Motion Filed Concur Rep. Mark H. Beaubien, Jr.
  5/31/2008HouseSenate Floor Amendment No. 2 Motion Filed Concur Rep. Mark H. Beaubien, Jr.
  5/31/2008HouseSenate Floor Amendment No. 1 Motion to Concur Referred to Rules Committee
  5/31/2008HouseSenate Floor Amendment No. 2 Motion to Concur Referred to Rules Committee
  5/31/2008HouseSenate Floor Amendment No. 1 Motion to Concur Recommends be Adopted Rules Committee; 003-001-000
  5/31/2008HouseSenate Floor Amendment No. 2 Motion to Concur Recommends be Adopted Rules Committee; 003-001-000
  5/31/2008HouseAdded Co-Sponsor Rep. Rosemary Mulligan
  5/31/2008HouseAdded Co-Sponsor Rep. Linda Chapa LaVia
  5/31/2008HouseAdded Co-Sponsor Rep. Elaine Nekritz
  5/31/2008HouseAdded Co-Sponsor Rep. Fred Crespo
  5/31/2008HouseAdded Co-Sponsor Rep. Jack D. Franks
  5/31/2008HouseAdded Co-Sponsor Rep. Bob Biggins
  5/31/2008HouseAdded Co-Sponsor Rep. Michael P. McAuliffe
  5/31/2008HouseAdded Co-Sponsor Rep. William B. Black
  5/31/2008HouseAdded Co-Sponsor Rep. Robert W. Pritchard
  5/31/2008HouseAdded Co-Sponsor Rep. Carolyn H. Krause
  5/31/2008HouseAdded Co-Sponsor Rep. Jerry L. Mitchell
  5/31/2008HouseAdded Co-Sponsor Rep. Ruth Munson
  5/31/2008HouseAdded Co-Sponsor Rep. Jil Tracy
  5/31/2008HouseAdded Co-Sponsor Rep. Ronald A. Wait
  5/31/2008HouseAdded Co-Sponsor Rep. Dennis M. Reboletti
  5/31/2008HouseAdded Co-Sponsor Rep. Brent Hassert
  5/31/2008HouseAdded Co-Sponsor Rep. Raymond Poe
  5/31/2008HouseAdded Co-Sponsor Rep. Rich Brauer
  5/31/2008HouseAdded Co-Sponsor Rep. Roger L. Eddy
  5/31/2008HouseAdded Co-Sponsor Rep. Timothy L. Schmitz
  5/31/2008HouseAdded Co-Sponsor Rep. Mike Bost
  5/31/2008HouseAdded Co-Sponsor Rep. Michael Tryon
  5/31/2008HouseAdded Co-Sponsor Rep. Sandy Cole
  5/31/2008HouseAdded Co-Sponsor Rep. Jim Sacia
  5/31/2008HouseAdded Co-Sponsor Rep. Patricia R. Bellock
  5/31/2008HouseAdded Co-Sponsor Rep. Renée Kosel
  5/31/2008HouseAdded Co-Sponsor Rep. David Reis
  5/31/2008HouseAdded Co-Sponsor Rep. Shane Cultra
  5/31/2008HouseAdded Co-Sponsor Rep. Keith P. Sommer
  5/31/2008HouseSenate Floor Amendment No. 1 House Concurs 112-000-000
  5/31/2008HouseSenate Floor Amendment No. 2 House Concurs 112-000-000
  5/31/2008SenateAdded as Alternate Co-Sponsor Sen. Kwame Raoul
  5/31/2008HousePassed Both Houses
  6/30/2008HouseSent to the Governor
  8/29/2008HouseGovernor Approved
  8/29/2008HouseEffective Date August 29, 2008
  8/29/2008HousePublic Act . . . . . . . . . 95-0950

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