Bill Status of 1-SB 1   97th General Assembly

Short Description:  PEN CD-REFORM GARS

Sponsors
Sen. Don Harmon-Gary Forby-David Koehler-John M. Sullivan-Mike Jacobs and William R. Haine

Last Action  View All Actions

DateChamber Action
  8/17/2012SenateReferred to Assignments

Statutes Amended In Order of Appearance
5 ILCS 375/6.16 new
20 ILCS 3005/7from Ch. 127, par. 417
20 ILCS 3005/8from Ch. 127, par. 418
30 ILCS 105/13from Ch. 127, par. 149
30 ILCS 105/24.12 new
30 ILCS 105/24.13 new
40 ILCS 5/1-103.3
40 ILCS 5/2-105.1 new
40 ILCS 5/2-105.2 new
40 ILCS 5/2-107.9 new
40 ILCS 5/2-108from Ch. 108 1/2, par. 2-108
40 ILCS 5/2-116.9 new
40 ILCS 5/2-119.1from Ch. 108 1/2, par. 2-119.1
40 ILCS 5/2-124from Ch. 108 1/2, par. 2-124

Synopsis As Introduced
Amends the General Assembly Article of the Illinois Pension Code. Provides that Tier I employees and Tier I retirees in the General Assembly Retirement System must make an irrevocable election either: (1) to accept changes in eligibility for, and the amount of, automatic annual increases in retirement annuity or (2) to avoid those changes. Provides that a person who elects the first choice may have any future increases in income included as pensionable salary and is entitled to certain healthcare benefits. Provides that a person who elects the second choice forgoes those benefits. Prohibits members who elect the second choice from being offered any future increase in income in a form that would constitute pensionable salary. Requires the System to provide information describing the consequences of making the election. Defines "future increase in income", "Tier I employee", and "Tier I retiree". Amends the State Finance Act. To the list of standardized items of appropriation, adds "State retirement contribution for annual normal cost" and "State retirement contribution for unfunded accrued liability". Defines those terms. Amends the Governor's Office of Management and Budget Act. Adds those terms to a list of classifications to be used in statements and estimates of expenditures submitted to the Office in connection with the preparation of a State budget. Effective immediately.

Actions 
DateChamber Action
  8/17/2012SenateFiled with Secretary by Sen. Don Harmon
  8/17/2012SenateFirst Reading
  8/17/2012SenateReferred to Assignments
  8/17/2012SenateAdded as Chief Co-Sponsor Sen. Gary Forby
  8/17/2012SenateAdded as Chief Co-Sponsor Sen. David Koehler
  8/17/2012SenateAdded as Chief Co-Sponsor Sen. John M. Sullivan
  8/17/2012SenateAdded as Chief Co-Sponsor Sen. Mike Jacobs
  8/17/2012SenateAdded as Co-Sponsor Sen. William R. Haine

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