Bill Status of HB 6145   99th General Assembly

Short Description:  PENCD-STATE SYS-TIER 3 PLAN

House Sponsors
Rep. Joe Sosnowski

Last Action  View All Actions

DateChamber Action
  1/10/2017HouseSession Sine Die

Statutes Amended In Order of Appearance
5 ILCS 375/3from Ch. 127, par. 523
5 ILCS 375/10from Ch. 127, par. 530
40 ILCS 5/1-160
40 ILCS 5/2-105.3 new
40 ILCS 5/2-117from Ch. 108 1/2, par. 2-117
40 ILCS 5/2-162
40 ILCS 5/2-165.5 new
40 ILCS 5/14-103.05from Ch. 108 1/2, par. 14-103.05
40 ILCS 5/14-103.41 new
40 ILCS 5/14-103.42 new
40 ILCS 5/14-103.43 new
40 ILCS 5/14-152.1
40 ILCS 5/14-155.5 new
40 ILCS 5/15-108.1
40 ILCS 5/15-108.2
40 ILCS 5/15-108.3 new
40 ILCS 5/15-134from Ch. 108 1/2, par. 15-134
40 ILCS 5/15-198
40 ILCS 5/15-200.5 new
40 ILCS 5/16-106.40 new
40 ILCS 5/16-106.41 new
40 ILCS 5/16-106.42 new
40 ILCS 5/16-123from Ch. 108 1/2, par. 16-123
40 ILCS 5/16-203
40 ILCS 5/16-205.5 new
40 ILCS 5/18-110.1 new
40 ILCS 5/18-110.2 new
40 ILCS 5/18-110.3 new
40 ILCS 5/18-120from Ch. 108 1/2, par. 18-120
40 ILCS 5/18-121.5 new
40 ILCS 5/18-124from Ch. 108 1/2, par. 18-124
40 ILCS 5/18-125from Ch. 108 1/2, par. 18-125
40 ILCS 5/18-125.1from Ch. 108 1/2, par. 18-125.1
40 ILCS 5/18-127from Ch. 108 1/2, par. 18-127
40 ILCS 5/18-128.01from Ch. 108 1/2, par. 18-128.01
40 ILCS 5/18-133from Ch. 108 1/2, par. 18-133
40 ILCS 5/18-169
40 ILCS 5/20-121from Ch. 108 1/2, par. 20-121
40 ILCS 5/20-123from Ch. 108 1/2, par. 20-123
40 ILCS 5/20-124from Ch. 108 1/2, par. 20-124
40 ILCS 5/20-125from Ch. 108 1/2, par. 20-125
40 ILCS 5/2-165 rep.
40 ILCS 5/2-166 rep.
40 ILCS 5/14-155 rep.
40 ILCS 5/14-156 rep.
40 ILCS 5/15-200 rep.
40 ILCS 5/15-201 rep.
40 ILCS 5/16-205 rep.
40 ILCS 5/16-206 rep.

Synopsis As Introduced
Amends the Illinois Pension Code. With respect to the 5 State-funded Retirement Systems: requires each System to prepare and implement a Tier 3 plan by July 1, 2017 that aggregates State and employee contributions in individual participant accounts which are used for payouts after retirement. Provides that a Tier 1 or Tier 2 participant may irrevocably elect to participate in the Tier 3 plan instead of the defined benefit plan. Authorizes a Tier 1 or Tier 2 participant to elect to terminate all participation in the defined benefit plan and to have a specified amount credited to his or her account under the Tier 3 plan. Until July 1, 2018, authorizes certain Tier 1 participants to elect to have the automatic annual increases in retirement annuity and survivor's annuity calculated using the Tier 2 formula and to have a specified amount credited to his or her account under the Tier 3 plan. Requires each System to report on its progress in establishing the Tier 3 plan to the Governor and the General Assembly by January 15, 2017. Provides that "new benefit increase" does not include any benefit increase resulting from the changes made by the amendatory Act. Repeals certain provisions concerning a defined contribution plan added by Public Act 98-599. In the Downstate Teachers, State Employees, and State Universities Articles, authorizes a person to elect not to participate or to terminate his or her participation in those Systems. In the General Assembly and Judges Articles, authorizes a participant to terminate his or her participation in the System. Makes related changes in the Retirement Systems Reciprocal Act (Article 20 of the Code) and the State Employees Group Insurance Act of 1971. Effective immediately.

Actions 
DateChamber Action
  2/11/2016HouseFiled with the Clerk by Rep. Joe Sosnowski
  2/11/2016HouseFirst Reading
  2/11/2016HouseReferred to Rules Committee
  1/10/2017HouseSession Sine Die

Back To Top