SB0843 99TH GENERAL ASSEMBLY

LRB099 05977 EFG 26028 b

99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
SB0843

Introduced 2/11/2015, by Sen. John G. Mulroe

SYNOPSIS AS INTRODUCED:

40 ILCS 5/6-230 new
30 ILCS 805/8.39 new

Amends the Chicago Firefighter Article of the Illinois Pension Code. Provides that, upon plan termination, a participant's interest in the Fund shall be non-forfeitable. Amends the State Mandates Act to require implementation without reimbursement.

FISCAL NOTE ACT MAY APPLY

PENSION IMPACT NOTE ACT MAY APPLY

STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT

A BILL FOR

AN ACT concerning public employee benefits.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Pension Code is amended by adding Section 6-230 as follows:

(40 ILCS 5/6-230 new)

Sec. 6-230. Termination of plan. Upon plan termination, a participant's interest in the Fund shall be non-forfeitable.

Section 90. The State Mandates Act is amended by adding Section 8.39 as follows:

(30 ILCS 805/8.39 new)

Sec. 8.39. Exempt mandate. Notwithstanding Sections 6 and 8 of this Act, no reimbursement by the State is required for the implementation of any mandate created by this amendatory Act of the 99th General Assembly.