Bill Status of HB 3661   99th General Assembly

Short Description:  PEN CD-MERGE TRS SURS AND CTPF

House Sponsors
Rep. Mike Fortner

Last Action  View All Actions

DateChamber Action
  1/10/2017HouseSession Sine Die

Statutes Amended In Order of Appearance
30 ILCS 122/20
30 ILCS 122/25
40 ILCS 5/15-101from Ch. 108 1/2, par. 15-101
40 ILCS 5/15-103from Ch. 108 1/2, par. 15-103
40 ILCS 5/15-111from Ch. 108 1/2, par. 15-111
40 ILCS 5/15-112.1 new
40 ILCS 5/15-155from Ch. 108 1/2, par. 15-155
40 ILCS 5/15-155.1 new
40 ILCS 5/15-157from Ch. 108 1/2, par. 15-157
40 ILCS 5/15-158.2
40 ILCS 5/15-159.1 new
40 ILCS 5/15-165.1 new
40 ILCS 5/16-101from Ch. 108 1/2, par. 16-101
40 ILCS 5/17-101from Ch. 108 1/2, par. 17-101
30 ILCS 805/8.39 new

Synopsis As Introduced
Amends the Budget Stabilization Act. Makes changes concerning transfers from the General Revenue Fund to the Pension Stabilization Fund. Amends the State Universities, Downstate Teacher, and Chicago Teacher Articles of the Illinois Pension Code. Consolidates those systems into a single retirement system under Article 15 of the Code, to be known as the Illinois Teachers' Retirement Fund. Creates a new Board for the Fund. Imposes limits on pensionable salary, and requires participation in the self-managed plan to the extent that a participant's salary exceeds the salary cap. Changes participant contributions. Makes changes relating to State and employer funding. Shifts responsibility for a portion of the required State contribution to the actual employer and provides for the State to make certain payments to the actual employer. Authorizes actions to enforce payments by employers. Changes the formula for calculating the minimum required State contribution to these systems. Provides that the State is contractually obligated to pay the annual required State contribution to these retirement systems. Contains provisions requiring the retirement system to bring a mandamus action to compel payment of a required State contribution. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions 
DateChamber Action
  2/26/2015HouseFiled with the Clerk by Rep. Mike Fortner
  2/26/2015HouseFirst Reading
  2/26/2015HouseReferred to Rules Committee
  1/10/2017HouseSession Sine Die

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