MADIGAN,R-PHILIP-SHADID-BOWLES-LUECHTEFELD, WATSON AND DEMUZIO. (DANIELS-SMITH,MICHAEL-BLACK-HOLBROOK-STEPHENS) 40 ILCS 5/1-113.5 Amends the General Provisions Article of the Pension Code. Allows a pension fund to appoint an investment adviser who is not registered under the Illinois Securities Law of 1953, if the adviser "meets any applicable requirements" of that Act. Effective immediately. PENSION NOTE (Pension Laws Commission) SB 1103 would have no fiscal impact on the accrued liabilities of any public pension fund or retirement system in the State. HOUSE AMENDMENT NO. 1. (Tabled May 27, 1999) Adds reference to: 40 ILCS 5/2-110 from Ch. 108 1/2, par. 2-110 40 ILCS 5/2-117 from Ch. 108 1/2, par. 2-117 40 ILCS 5/7-139.1 from Ch. 108 1/2, par. 7-139.1 Amends the General Assembly and IMRF Articles of the Pension Code. Until July 1, 2000, allows former members of the GA system to transfer credits from IMRF to the GA system. Allows the Attorney General to avoid paying the employer contributions on those transfers. Extends to July 1, 2000 the deadline for rescinding an election not to participate in the GA System. Effective immediately. HOUSE AMENDMENT NO. 2. (Tabled May 27, 1999) Adds reference to: 40 ILCS 5/7-145.1 Amends the Illinois Municipal Retirement Fund Article of the Illinois Pension Code with respect to the optional plan of additional benefits and contributions for elected county officers and their survivors. Limits application of the special formula to service in an elected county office that the participant held for at least 8 years; provides for a refund of additional contributions if service in the office lasts less than 8 years. Changes the manner of calculating the salary upon which benefits are based; uses a 4-year average final rate of earnings and applies a separate rate for each qualifying office held. Allows a county to revoke its election to allow participation in the Elected County Officer program, except with respect to current participants. HOUSE AMENDMENT NO. 3. Deletes reference to: 40 ILCS 5/1-113.5 40 ILCS 5/2-110 40 ILCS 5/2-117 40 ILCS 5/7-139.1 Adds reference to: 40 ILCS 5/7-145.1 Deletes everything. Amends the Illinois Municipal Retirement Fund Article of the Illinois Pension Code with respect to the optional plan of additional benefits and contributions for elected county officers and their survivors. Limits application of the special formula to service in an elected county office that the participant held for at least 8 years; provides for a refund of additional contributions if service in the office lasts less than 8 years. Changes the manner of calculating the salary upon which benefits are based; uses a 4-year average final rate of earnings and applies a separate rate for each qualifying office held. Allows a county to revoke its election to allow participation in the Elected County Officer program, except with respect to current participants. Effective immediately. PENSION NOTE, H-AM 3 (Pension Laws Commission) The fiscal impact of SB1103, with H-am 3, cannot be calculated. Allowing counties to revoke the election to participate would reduce the future cost to counties that elect to do so. Also, several provisions of the bill may limit future costs of the program by an amount that cannot be determined. PENSION NOTE, PA 91-685 (Pension Laws Commission) Same as pension note with H-am 3. 99-02-26 S FIRST READING 99-02-26 S REFERRED TO SENATE RULES COMMITTEE RULES 99-03-03 S ASSIGNED TO COMMITTEE INS & PENS. 99-03-08 S PENSION NOTE FILED 99-03-16 S POSTPONED 99-03-18 S DO PASS 010-000-000 SINS 99-03-18 S PLACED ON CALENDAR ORDER OF 2ND READING 99-03-19 99-03-22 S SECOND READING 99-03-22 S PLACED ON CALENDAR ORDER OF 3RD READING 99-03-23 99-03-23 S THIRD READING - PASSED 058-000-000 99-03-23 H ARRIVE IN HOUSE 99-03-23 H HOUSE SPONSOR OSMOND 99-03-23 H FIRST READING 99-03-23 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-03-26 H ASSIGNED TO COMMITTEE PERS PENSION 99-04-29 H COMMITTEE AND 3RD 99-04-29 H READING DEADLINE 99-04-29 H EXTENDED - 5/21/99 99-04-29 H COMMITTEE PERS PENSION 99-05-21 H ALTERNATE PRIMARY SPONSOR CHANGED TO DANIELS 99-05-21 H COMMITTEE AND 3RD 99-05-21 H READING DEADLINE 99-05-21 H EXTENDED - 5/31/99 99-05-21 H COMMITTEE PERS PENSION 99-05-26 H MOTION FILED TO SUSPEND RULE 25 MURPHY 99-05-26 H MOTION PREVAILED TO SUSPEND RULE 25 99-05-26 H COMMITTEE PERS PENSION 99-05-26 H AMENDMENT NO. 01-PERS PENSION H 99-05-26 H ADOPTED 011-000-000 99-05-26 H AMENDMENT NO. 02-PERS PENSION H 99-05-26 H ADOPTED 011-000-000 99-05-26 H DO PASS AMENDED/SHORT DEBATE 011-000-000 HPPN 99-05-26 H PLACED CALENDAR 2ND READING-SHORT DEBATE 99-05-26 H ADDED AS A JOINT SPONSOR SMITH,MICHAEL 99-05-26 H ADDED AS A JOINT SPONSOR BLACK 99-05-26 H ADDED AS A JOINT SPONSOR HOLBROOK 99-05-26 H ADDED AS A JOINT SPONSOR STEPHENS 99-05-26 H SECOND READING-SHORT DEBATE 99-05-26 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 99-05-27 H RECALLED TO SECOND READING-SHORT DEBATE 99-05-27 H AMENDMENT NO. 03-DANIELS 99-05-27 H AMENDMENT REFERRED TO HRUL 99-05-27 H RECOMMENDS BE ADOPTED HRUL 99-05-27 H MOTION TO TABLE AMENDMENT - PREVAILED 01 99-05-27 H MOTION TO TABLE AMENDMENT - PREVAILED 02 99-05-27 H AMENDMENT NO. 03-DANIELS 99-05-27 H ADOPTED 99-05-27 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 99-05-27 H THIRD READING/SHORT DEBATE/PASSED 115-000-000 99-05-27 S SECRETARYS DESK - CONCURRENCE 03 99-05-27 S FILED WITH SECRETARY 99-05-27 S MOTION TO CONCUR - HOUSE AMENDMENT NO 03/MADIGAN,R 99-05-27 S MOTION REFERRED TO SRUL 99-05-27 S PLACED ON CALENDAR ORDER OF CONCURRENCE 03/99-05-27 99-06-27 S REFER TO RULES/PURSUANT SEN RULE 3-9 (B) RULES SRUL 99-11-04 S APPROVED FOR CONSIDERATION SRUL SRUL 99-11-04 S MOTION TO CONCUR - HOUSE AMENDMENT NO 03/MADIGAN,R 99-11-04 S RULES REFERS TO SINS 99-11-16 S MOTION TO CONCUR - HOUSE AMENDMENT NO 03/MADIGAN,R 99-11-16 S BE ADOPTED SINS/007-000-000 99-11-16 S ADDED AS A CHIEF CO-SPONSOR SHADID 99-11-16 S ADDED AS A CHIEF CO-SPONSOR BOWLES 99-11-16 S ADDED AS A CO-SPONSOR DEMUZIO 99-11-17 S ADDED AS A CHIEF CO-SPONSOR LUECHTEFELD 99-11-17 S ADDED AS A CO-SPONSOR WATSON 99-11-17 S MOTION TO CONCUR - HOUSE AMENDMENT NO 03/MADIGAN,R 99-11-17 S PENSION NOTE FILED AS AMENDED HA 03 99-11-17 S SEN CONCURS IN HSE AMENDMENTS (NO.) 03/056-000-000 99-11-17 S PASSED BOTH HOUSES 99-12-13 S SENT TO THE GOVERNOR 00-01-26 S GOVERNOR APPROVED 00-01-26 S EFFECTIVE DATE 00-01-26 00-01-26 S PENSION NOTE FILED AS PA 91-0685 00-01-26 S PUBLIC ACT.............................. 91-0685 END OF INQUIRY Full Text Bill Summary