Illinois General Assembly - Bill Status for SB1582
Illinois General Assembly

  Bills & Resolutions  
  Compiled Statutes  
  Public Acts  
  Legislative Reports  
  IL Constitution  
  Legislative Guide  
  Legislative Glossary  

 Search By Number
 (example: HB0001)
Search Tips

Search By Keyword

 Bill Status of SB1582  103rd General Assembly

Short Description:  PEN CD-TRANSFER-ART 3 TO IMRF

Senate Sponsors
Sen. Doris Turner

Last Action
DateChamber Action
  2/8/2023SenateReferred to Assignments

Statutes Amended In Order of Appearance
40 ILCS 5/3-110.15 new
40 ILCS 5/7-139from Ch. 108 1/2, par. 7-139
30 ILCS 805/8.47 new

Synopsis As Introduced
Amends the Downstate Police and Illinois Municipal Retirement Fund (IMRF) Articles of the Illinois Pension Code. Provides that within 6 months after the effective date of the amendatory Act, an active IMRF member may apply for transfer of credits and creditable service under the Downstate Police Article to IMRF. Provides that the credits and creditable service shall be transferred upon payment by the police pension fund of an amount equal to the amounts accumulated to the credit of the applicant for the service to be transferred, including interest; an amount representing employer contributions; and any interest paid by the applicant to reinstate such service. Provides that a person applying to transfer service under the provisions may reinstate credits and creditable service terminated upon receipt of a refund by paying to the police pension fund the amount of the refund plus interest. Provides that if the board of trustees of IMRF determines that the amount transferred is less than the true cost to IMRF of allowing that creditable service to be established, then in order to establish that creditable service, the member must pay to IMRF an additional contribution equal to the difference. Makes conforming and other changes. Amends the State Mandates Act to require implementation without reimbursement by the State. Effective immediately.

DateChamber Action
  2/8/2023SenateFiled with Secretary by Sen. Doris Turner
  2/8/2023SenateFirst Reading
  2/8/2023SenateReferred to Assignments

Back To Top