Bill Status of SB 105   97th General Assembly

Short Description:  PEN CD-ELECTION OF BENEFITS

Senate Sponsors
Sen. Chris Lauzen-Matt Murphy-William E. Brady-Ron Sandack-Kyle McCarter

Last Action  View All Actions

DateChamber Action
  1/8/2013SenateSession Sine Die

Statutes Amended In Order of Appearance
5 ILCS 315/15from Ch. 48, par. 1615
40 ILCS 5/1-161 new
40 ILCS 5/1-162 new
40 ILCS 5/1-163 new
40 ILCS 5/2-124from Ch. 108 1/2, par. 2-124
40 ILCS 5/2-126from Ch. 108 1/2, par. 2-126
40 ILCS 5/14-131
40 ILCS 5/14-133from Ch. 108 1/2, par. 14-133
40 ILCS 5/15-155from Ch. 108 1/2, par. 15-155
40 ILCS 5/15-157from Ch. 108 1/2, par. 15-157
40 ILCS 5/16-152from Ch. 108 1/2, par. 16-152
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 5/18-133from Ch. 108 1/2, par. 18-133

Synopsis As Introduced
Amends the Illinois Pension Code. Requires current participants in the State-funded pension and retirement systems to make a one-time, irrevocable election of one of the following: (i) the traditional benefit package under the applicable Article of the Pension Code, (ii) the existing benefit package for new hires, or (iii) a self-managed plan (if made available by the participant's employer). Authorizes persons who became or become participants on or after January 1, 2011 to irrevocably elect either: (i) the benefit package for new hires or (ii) the self-managed plan (if made available by the participant's employer). Sets forth the requirements for the self-managed plan and provides that if such a plan is available it is the default plan if a participant fails to make an election. In the Articles creating the State-funded pension and retirement systems, provides: (i) that, beginning in fiscal year 2013, the State's required contribution is the greater of 6% of the applicable employee payroll or one-half of the actuarially-determined normal cost of the benefit package for new hires and (ii) that the required employee contribution will be based on the benefit package elected by the participant. Amends the Illinois Public Labor Relations Act to provide that the changes made by the amendatory Act control when there is a conflict with the Illinois Public Labor Relations Act.

Actions 
DateChamber Action
  1/27/2011SenateFiled with Secretary by Sen. Chris Lauzen
  1/27/2011SenateFirst Reading
  1/27/2011SenateReferred to Assignments
  1/27/2011SenateAdded as Chief Co-Sponsor Sen. Matt Murphy
  2/9/2011SenateAssigned to Executive
  2/10/2011SenateAdded as Chief Co-Sponsor Sen. William E. Brady
  2/10/2011SenateAdded as Chief Co-Sponsor Sen. Ron Sandack
  2/16/2011SenateTo Executive Subcommittee on State Government Operations; -3/07/2011 - Held / 3/10/2011 - Remains in Subcommittee/ 3/16/2011 - Postponed
  3/2/2011SenateAdded as Chief Co-Sponsor Sen. Kyle McCarter
  3/17/2011SenatePostponed - Executive
  3/18/2011SenateRule 3-9(a) / Re-referred to Assignments
  1/8/2013SenateSession Sine Die

Back To Top