Date	Chamber	Action
1/8/2013	House	Session Sine Die

Statutes Amended In Order of Appearance

40 ILCS 5/2-119.1

from Ch. 108 1/2, par. 2-119.1

40 ILCS 5/14-114

from Ch. 108 1/2, par. 14-114

40 ILCS 5/15-136

from Ch. 108 1/2, par. 15-136

40 ILCS 5/16-133.1

from Ch. 108 1/2, par. 16-133.1

40 ILCS 5/16-136.1

from Ch. 108 1/2, par. 16-136.1

40 ILCS 5/18-125.1

from Ch. 108 1/2, par. 18-125.1

Synopsis As Introduced
Amends the Illinois Pension Code in relation to the 5 State-funded retirement systems. Decreases annual increases (COLAs) for certain persons who first became participants before January 1, 2011 and did not begin to receive a retirement annuity before the effective date of this amendatory Act. Provides that the automatic annual increases shall be (1) 3% of the first $50,000 of the annual total annuity payable at the time of the increase, and (2) if the annual total annuity payable at the time of the increase exceeds $50,000, a percentage of that excess equal to the lesser of 3% or one-half of the annual unadjusted percentage increase (but not less than zero) in the Consumer Price Index for All Urban Consumers.

	Pension Note (Government Forecasting & Accountability)
	The Commission's actuary estimates that HB 5377 would reduce State contributions to TRS by $10-$14 billion between FY 2013 and FY 2045. The total savings for all five State systems combined would likely be in the $20-$28 billion range over the same time period.

Actions 

Date	Chamber	Action
2/9/2012	House	Filed with the Clerk by Rep. Michael W. Tryon
2/15/2012	House	First Reading
2/15/2012	House	Referred to Rules Committee
2/21/2012	House	Assigned to Personnel and Pensions Committee
2/28/2012	House	Pension Note Filed
3/9/2012	House	Rule 19(a) / Re-referred to Rules Committee
1/8/2013	House	Session Sine Die

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