Legislation

Legislation

Please note: SURS does not endorse specific pension reform legislation. Our goal is to update and educate SURS members concerning legislation that may affect their retirement benefits.

Appropriations

HB 0117
- Fiscal Year 2018 General Services Budget
Sponsor(s): Representative Michael J. Madigan

House Amendment #1 to HB 117 appropriates $1,622,785,000 for the FY 2018 state contribution to SURS. Of this amount, $1,407,785,000 comes from the General Revenue Fund and $215,000,000 comes from the State Pensions Fund. The certified state contribution to SURS for FY 2018 is $1,753,685,000.

HA #1 also appropriates $4,133,336 for the FY 2018 state contribution to the College Insurance Program (“CIP”), which provides health insurance to community college retirees. This amount is equal to the certified contribution for FY 2018.

HA #1 takes effect on July 1, 2017.

Status:

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House

HB 0163
- Alternative Investment Contract and Fee Transparency
Sponsor(s): Representative Michael Halpin

House Amendment #1 to HB 163 amends the General Provisions article of the Illinois Pension Code to require the disclosure of certain information related to the investments of public pension funds, retirement systems and investment boards in alternative investment funds.

HB 163 defines an “alternative investment fund” as a private equity fund, hedge fund or absolute return fund.

HB 163 creates the Investment Transparency Task Force to study, identify best available practices and make recommendations relating to: (1) disclosure of, and best practices related to, the portions of limited partnership agreements addressing indemnification provisions, clawback provisions and management fee waivers; and (2) disclosure of fees and expenses incurred, including related fee waivers and portfolio holding fees.   The Task Force must report its findings and recommendations to the General Assembly and the public retirement systems, pension funds and investment boards by January 15, 2018.  

If a public pension fund, retirement system or investment board adopts and implements the recommendations of the Task Force, and the General Assembly does not reject the recommendations of the Task Force by joint resolution during the 100th General Assembly, then the public pension fund, retirement system or investment board is deemed in compliance with the legislation.  

However, if the Task Force does not adopt recommendations by January 15, 2018, the General Assembly rejects the recommendations of the Task Force, or the public pension fund, retirement system or investment board fails to adopt and implement the recommendations of the Task Force, then the following provisions of the legislation take effect:

  • The public pension fund, retirement system or investment board must disclose the following information within 90 days after entering into an agreement to invest in an alternative investment fund: (1) all management fee waiver provisions; (2) all indemnification provisions; (3) all clawback provisions; and (4) the cover page and signature block of the agreement.  These disclosures must be filed with the Public Pension Division of the Illinois Department of Insurance and the Illinois Secretary of State.  They must also be posted and maintained on the website of the pension fund, retirement system or investment board.
  • The public pension fund, retirement system or investment board must require alternative investment fund external managers and general partners to disclose the following information annually for each alternative investment fund: (1) direct fees and expenses; (2) all other fees and expenses, including carried interest; (3) the amount of all management fee waivers; and (4) the total amount of portfolio holding fees.  The disclosure of this information may be satisfied by the completion of the Institutional Limited Partners Association (ILPA) template for the relevant category of investment for the applicable year.  These disclosures must be filed with the Public Pension Division of the Illinois Department of Insurance and posted and maintained on the website of the public pension fund, retirement system or investment board.

HB 163 applies to agreements after February 1, 2019.

HB 163 takes effect immediately upon becoming law.

HB 163 is similar to Senate Bill 779 of the 100th General Assembly.

Status:

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HB 0299
- Return-to-Work Law for Affected Annuitants + SURS Technical and Administrative Changes
Sponsor(s): Representative Carol Ammons and Senator Daniel Biss

Return to Work Law for Affected Annuitants:

HB 299 allows SURS retirees who became affected annuitants between August 1, 2013, and June 30, 2015, and who receive annualized retirement annuities of less than $10,000 to return to work with a SURS-covered employer without the employer having to pay a contribution to SURS.

Public Act 97-968 created the return-to-work law for affected annuitants, effective August 1, 2013.  The law requires a SURS-covered employer to pay a contribution to SURS upon hiring a SURS affected annuitant.  A SURS retiree becomes an affected annuitant on the first day of an academic year following the academic year in which the retiree receives compensation from a SURS-covered employer exceeding 40 percent of his or her highest annual earnings prior to retirement. The amount of the employer contribution equals the retiree’s annualized retirement annuity.  

Public Act 98-1144 created an exemption to this law to allow SURS-covered employers to avoid paying the employer contribution for SURS retirees who receive annualized retirement annuities of less than $10,000.  However, this exemption became effective on July 1, 2015; it does not apply to SURS retirees with annualized retirement annuities of less than $10,000 who became affected annuitants between August 1, 2013, and June 30, 2015.  HB 299 applies the exemption created by Public Act 98-144 to this group of affected annuitants.  It ensures that SURS-covered employers who hire SURS retirees with annualized retirement annuities of less than $10,000 do not have to make the employer contribution to SURS.

SURS Technical and Administrative Changes:

HB 299 also enhances the efficient administration of SURS by making one substantive change and five technical changes.

Substantive Change:

HB 299 authorizes the System to issue subpoenas in connection with an attempt to obtain information to assist in the collection of sums due to the System, all personal identifying information necessary for the administration of benefits and the determination of the death of a benefit recipient or a potential benefit recipient. 

Technical Changes:

HB 299 codifies the long-standing practice of SURS in which a disability retirement annuity recipient is prevented from backdating his or her retirement annuity prior to the termination of the disability retirement annuity.  

HB 299 codifies the long-standing practice of SURS in which a participant’s disability benefits are discontinued upon failure to provide an earnings verification necessary to determine continued eligibility for disability benefits.

HB 299 codifies the long-standing practice of SURS in which a disability retirement annuity is discontinued upon a recipient’s refusal to submit to a reasonable physical examination or failure to provide an earnings verification necessary to determine continued eligibility for the disability retirement annuity.

HB 299 codifies the long-standing practice of SURS in which the costs incurred in a claim for a disability retirement annuity are allocated in a similar way as the costs incurred in a claim for disability benefits.

HB 299 corrects the definition of “service” to reflect the enactment of Public Act 99-0897. 

HB 299 takes effect immediately upon becoming law.

Status:

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HB 0315
- Accelerated Pension Benefit Payment Option
Sponsor(s): Representative Mark Batinick

HB 315 amends the General Assembly Retirement System, State Employees Retirement System, State Universities Retirement System, Teachers Retirement System and Judges Retirement System Articles of the Illinois Pension Code.

HB 315 applies to a SURS member who terminates service, meets the service credit requirements for retirement, has not received a retirement annuity from SURS, does not have a QILDRO in effect against him or her under SURS and is not a participant in the Self-Managed Plan. HB 315 does not apply to retirees.

HB 315 requires SURS to calculate the net present value of pension benefits for each eligible person by Jan. 1, 2018. SURS must offer each eligible person the opportunity to irrevocably elect to receive an accelerated pension benefit payment equal to 70 percent of the net present value of his or her pension benefits in lieu of receiving any pension benefit from SURS. The accelerated pension benefit payment must be rolled over into another retirement plan or account qualified under the Internal Revenue Code of 1986, as amended. Eligible members have between Jan. 1, 2018, and July 1, 2018, to irrevocably elect to receive an accelerated pension benefit payment in lieu of receiving any pension benefit from SURS. Eligible members who irrevocably elect to receive an accelerated pension benefit payment in lieu of receiving any pension benefit from SURS will still receive any applicable retiree health insurance benefits.

Once the eligible member receives an accelerated pension benefit payment from SURS, all credits and creditable service under SURS are terminated. If the member subsequently returns to active service under SURS, then any subsequent pension benefits are based on the credits and creditable service accrued after the return to active service. The accelerated pension benefit payment cannot be repaid to SURS and previously terminated credits and creditable service cannot be reinstated under SURS.

HB 315 takes effect immediately upon becoming law.

Status:

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HB 0350
- Survivors Felony Forfeiture
Sponsor(s): Representative David McSweeney and Senator Pamela J. Althoff

HB 350 prohibits any benefits from being paid to a person who is convicted of a felony relating to, arising out of, or in connection with a person’s service as an employee under SURS. This change applies to individuals who first become participants in SURS on or after the effective date of the legislation.

HB 350 makes similar changes under the General Assembly Retirement System, Downstate Policemen’s Pension Funds, Downstate Firefighters’ Pension Funds, Chicago Policemen’s Pension Fund, Chicago Firefighters’ Pension Fund, Illinois Municipal Retirement Fund, Chicago Municipal Pension Fund, Cook County Pension Fund, Cook County Forest Preserve District Pension Fund, Chicago Laborers’ Pension Fund, Chicago Park District Pension Fund, Metropolitan Water Reclamation District Pension Fund, State Employees Retirement System, Teachers Retirement System, Chicago Teachers Pension Fund, and Judges Retirement System.

HB 350 takes effect immediately upon becoming law.

Status:

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HB 0368
- SURS Administrative and Technical Changes
Sponsor(s): Representative Elaine Nekritz

House Amendment #1 to HB 368 reinserts the original language of the legislation but changes the wording of item (4) under Section 15-168.1 so that it is identical to the corresponding language in the Teachers Retirement System and Chicago Teachers Pension Fund articles of the Illinois Pension Code.

HB 368 amends the State Universities Retirement System Article of the Illinois Pension Code to enhance the efficient administration of SURS.  It has no impact to member benefits.  It makes one substantive change and five technical changes.

Substantive Change:

HB 368 authorizes the System to issue subpoenas in connection with an attempt to obtain information to assist in the collection of sums due to the System, all personal identifying information necessary for the administration of benefits and the determination of the death of a benefit recipient or a potential benefit recipient.

Technical Changes:

HB 368 codifies the long-standing practice of SURS in which a disability retirement annuity recipient is prevented from backdating his or her retirement annuity prior to the termination of the disability retirement annuity.

HB 368 codifies the long-standing practice of SURS in which a participant’s disability benefits are discontinued upon failure to provide an earnings verification necessary to determine continued eligibility for disability benefits.

HB 368 codifies the long-standing practice of SURS in which a disability retirement annuity is discontinued upon a recipient’s refusal to submit to a reasonable physical examination or failure to provide an earnings verification necessary to determine continued eligibility for the disability retirement annuity.

HB 368 codifies the long-standing practice of SURS in which the costs incurred in a claim for a disability retirement annuity are allocated in a similar way as the costs incurred in a claim for disability benefits.

HB 368 corrects the definition of “service” to reflect the enactment of Public Act 99-0897.

HB 368 takes effect immediately upon becoming law.

Status:

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HB 0436
- Tier III Defined Contribution Plan
Sponsor(s): Representative Jeanne M. Ives

HB 436 amends the General Assembly Retirement System, State Employees Retirement System, State Universities Retirement System, Teachers Retirement System and Judges Retirement System Articles of the Illinois Pension Code.

HB 436 requires SURS to prepare and implement a Tier III defined contribution plan by July 1, 2018. Tier I participants and Tier II participants may make a voluntary, irrevocable election to become Tier III participants, stopping participation in the defined benefit plan and starting participation in the defined contribution plan for future service. Tier III participants may also irrevocably elect to terminate all participation in the defined benefit plan. Upon such election, SURS must transfer an amount equal to the amount of the contribution refund that the member would be eligible to receive, including interest at the effective rate, to the member’s individual account in the defined contribution plan. Participants in the Tier 3 defined contribution plan will receive any applicable retiree health insurance benefits upon retirement.

Tier III employee contributions to the defined contribution plan are set at a rate determined by the participant, but not less than 3 percent of earnings and not more than a percentage of earnings determined by the board in accordance with the requirements of state and federal law. State contributions to the defined contribution plan are set at a uniform rate, but not higher than 7.6 percent of earnings and not lower than 3 percent of earnings. The state must adjust this rate annually. Tier III participants must have five years of service in the defined contribution plan to vest in state contributions. Failure to vest results in the forfeiture of State contributions and any earnings thereon. Disability benefits may be provided under the Tier III defined contribution plan, and Tier III employee contributions to the defined contribution plan may be reduced by an amount to cover the cost of offering such disability benefits.

The Tier III defined contribution plan must offer a variety of options for investments, including investments handled by SURS as well as private sector investment options; provide a variety of options for payouts to inactive members and their survivors; and, to the extent permitted under federal law and as authorized by SURS, allow former participants to transfer or roll over employee and vested state contributions, and the earnings thereon, from the Tier III defined contribution plan into other qualified retirement plans.

HB 436 prohibits payments for unused sick or vacation time from counting towards the pensionable earnings of individuals who first become participants of SURS on or after the effective date of the legislation. Additionally, HB 436 prohibits unused, unpaid sick time from counting towards the service credit of individuals who first become participants of SURS on or after the effective date of the legislation.

Finally, HB 436 establishes that a person is not required to participate in SURS. HB 436 allows an employee to terminate his or her participation in SURS by notifying the System in writing. Such person is entitled to a refund of his or her contributions (other than contributions to the Self-Managed Plan or the Tier III defined contribution plan) minus the benefits received prior to the termination of participation in SURS.

HB 436 takes effect immediately upon becoming law.

Status:

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HB 0445
- Tier III Defined Contribution Plan
Sponsor(s): Representative Jeanne M. Ives

HB 445 is identical to House Bill 436 of the 100th General Assembly, as introduced, with the following three differences: HB 445 does not contain language prohibiting payments for unused sick or vacation time from counting towards the pensionable earnings of individuals who first become participants of SURS on or after the effective date of the legislation; HB 445 does not contain language prohibiting unused, unpaid sick time from counting towards the service credit of individuals who first become participants of SURS on or after the effective date of the legislation; and HB 445 establishes the intent of the Tier III defined contribution plan to supersede the defined contribution plan created by Public Act 98-599 (which became inoperative under law when Public Act 98-599 was ruled unconstitutional by the Illinois Supreme Court on May 8, 2015.)

HB 445 amends the General Assembly Retirement System, State Employees Retirement System, State Universities Retirement System, Teachers Retirement System and Judges Retirement System Articles of the Illinois Pension Code.

HB 445 requires SURS to prepare and implement a Tier III defined contribution plan by July 1, 2018. Tier I members and Tier II members may make a voluntary, irrevocable election to become Tier III members, stopping participation in the defined benefit plan and starting participation in the defined contribution plan for future service. Tier III members may also irrevocably elect to terminate all participation in the defined benefit plan. Upon such election, SURS must transfer an amount equal to the amount of the contribution refund that the member would be eligible to receive, including interest at the effective rate, to the member’s individual account in the defined contribution plan. Participants in the Tier III defined contribution plan will receive any applicable retiree health insurance benefits upon retirement.

Tier III employee contributions to the defined contribution plan are set at a rate determined by the participant, but not less than 3 percent of earnings and not more than a percentage of earnings determined by the board in accordance with the requirements of state and federal law. State contributions to the defined contribution plan are set at a uniform rate, but not higher than 7.6 percent of earnings and not lower than 3 percent of earnings. The state must adjust this rate annually. Tier III participants must have five years of service in the defined contribution plan to vest in state contributions. Failure to vest results in the forfeiture of state contributions and any earnings thereon. Disability benefits may be provided under the Tier III defined contribution plan, and Tier III employee contributions to the defined contribution plan may be reduced by an amount to cover the cost of offering such disability benefits.

The Tier III defined contribution plan must offer a variety of options for investments, including investments handled by SURS as well as private sector investment options; provide a variety of options for payouts to inactive members and their survivors; and, to the extent permitted under federal law and as authorized by SURS, allow former participants to transfer or roll over employee and vested state contributions, and the earnings thereon, from the Tier III defined contribution plan into other qualified retirement plans.

Finally, HB 445 establishes that a person is not required to participate in SURS. HB 445 allows an employee to terminate his or her participation in SURS by notifying the System in writing. Such person is entitled to a refund of his or her contributions (other than contributions to the Self-Managed Plan, the defined contribution plan created by Public Act 98-599 or the Tier III defined contribution plan) minus the benefits received prior to the termination of participation in SURS.

HB 445 takes effect immediately upon becoming law.

Status:

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HB 0669
- Alternative Retirement Plan – Local Control of Benefits
Sponsor(s): Representative Thomas Morrison

HB 669 amends the Downstate Policemen’s Pension Fund, Downstate Firefighters’ Pension Fund, Chicago Policemen’s Pension Fund, Chicago Firefighters’ Pension Fund, Illinois Municipal Retirement Fund, Chicago Municipal Pension Fund, Cook County Pension Fund, Cook County Forest Preserve District Pension Fund, Chicago Laborers’ Pension Fund, Chicago Park District Pension Fund, Metropolitan Water Reclamation District Pension Fund, State Universities Retirement System, Teachers Retirement System, and Chicago Teachers Retirement System articles of the Illinois Pension Code.

HB 669 authorizes the board of trustees of a community college district that is an employer covered under SURS to provide an alternative retirement plan, either in addition to or in lieu of the existing retirement plans under SURS, for its eligible new employees. The alternative retirement plan applies only to persons who have not participated in the existing plans under SURS. Participants in an alternative retirement plan are deemed to be participants in SURS.

The alternative retirement plan may include a defined benefit component, defined contribution component, or both, and may include disability or survivor benefits and any other benefits that are permitted under federal law. The alternative retirement plan is not required to provide any minimum level of benefits and does not need to provide any benefits at all, other than mandatory Social Security coverage if applicable. Service credit under the alternative retirement plan cannot be transferred to any other pension fund or retirement system and cannot be used under the Retirement Systems Reciprocal Act. The alternative retirement plan does not need to comply with any mandatory provisions of the existing retirement plans.

Providing an alternative retirement plan does not release the community college district from the obligation of continuing to participate in SURS with regard to participants in the existing retirement plans. The alternative retirement plan provided by the community college district must be funded with contributions from that community college district and its employees who participate in the alternate retirement plan. In no event may the community college district in any way diminish or impair the rights or benefits of participants in the existing retirement plan.

HB 669 is identical to House Bill 3069 of the 100th General Assembly, as introduced.

HB 669 takes effect in accordance with the Effective Date of Laws Act.

Status:

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HB 0671
- Employers Pay Present Value of Salary Increases above CPI-U
Sponsor(s): Representative Thomas Morrison

HB 671 amends the State Universities Retirement System and Teachers Retirement System Articles of the Illinois Pension Code.

HB 671 provides that, for academic years beginning on or after July 1, 2017, if a participant’s earnings exceed the amount of his or her earnings with the same employer for the previous academic year by more than the increase in CPI-U for any year during the final rate of earnings period, then the employer must pay the present value of the resulting increase in benefits to SURS. Earnings increases under contracts or collective bargaining agreements entered into, amended, or renewed before the effective date of the legislation are exempt from this requirement.

Under current law, if a participant’s earnings exceed the amount of his or her earnings with the same employer for the previous academic year by more than 6 percent for any year during the final rate of earnings period, then the participant’s employer must pay the present value of the resulting increase in benefits to SURS.

HB 671 is identical to House Bill 3175 of the 100th General Assembly, as introduced.

HB 671 takes effect immediately upon becoming law.

Status:

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HB 0775
- Climate Change Risk Minimization Policy
Sponsor(s): Representative Camille Y. Lilly

HB 775 amends the General Provisions Article of the Illinois Pension Code.

HB 775 requires each pension fund and retirement system (except for downstate policemen’s and firefighters’ pension funds) to develop a climate change risk minimization policy by December 31, 2018. The National Association of Insurance Commissioners’ Insurer Climate Risk Disclosure Survey must be used as a model for the initial development of the policy. The policy must consider the scope of the financial risk and impact of climate related events, including, but not limited to, severe drought, coastal flooding, and intense hurricanes, on the holdings of the retirement system. Data from insurance company projections, the United Nations Framework Convention on Climate Change, and the United States Environmental Protection Agency must be used to make long-term projections on the climate and the potential long-term financial impact to the holdings of the retirement system from increased climate change.

If the retirement system determines that increasing climate change poses a significant financial risk to the long-term value of the retirement system, then the system may develop a policy on voting for shareholder resolutions and directors to advance corporate policies that minimize the long-term risk to the system’s assets from increased climate change.

The policy must be updated annually and published on the retirement system’s website. Previous versions of the policy must remain on the website for a period of 5 years.

HB 775 takes effect immediately upon becoming law.

Status:

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HB 2405
- Tier III Defined Contribution Plan
Sponsor(s): Representative Jeanne M. Ives

HB 2405 is identical to HB 436 of the 100th General Assembly, as introduced, with the following difference: HB 2405 requires all persons who first become participants in SURS on or after July 1, 2018, to participate in the Tier III defined contribution plan.

HB 2405 amends the General Assembly Retirement System, State Employees Retirement System, State Universities Retirement System, Teachers Retirement System and Judges Retirement System Articles of the Illinois Pension Code.

HB 2405 requires SURS to prepare and implement a Tier III defined contribution plan by July 1, 2018. Tier I participants and Tier II participants may make a voluntary, irrevocable election to become Tier III participants, stopping participation in the defined benefit plan and starting participation in the defined contribution plan for future service. Additionally, all persons who first become participants in SURS on or after July 1, 2018, must participate in the Tier III defined contribution plan.

Tier III participants may irrevocably elect to terminate all participation in the defined benefit plan. Upon such election, SURS must transfer an amount equal to the amount of the contribution refund that the member would be eligible to receive, including interest at the effective rate, to the member’s individual account in the defined contribution plan. Participants in the Tier III defined contribution plan will receive any applicable retiree health insurance benefits upon retirement.

Tier III employee contributions to the defined contribution plan are set at a rate determined by the participant, but not less than 3 percent of earnings and not more than a percentage of earnings determined by the board in accordance with the requirements of state and federal law. State contributions to the defined contribution plan are set at a uniform rate, but not higher than 7.6 percent of earnings and not lower than 3 percent of earnings. The state must adjust this rate annually. Tier III participants must have five years of service in the defined contribution plan to vest in state contributions. Failure to vest results in the forfeiture of state contributions and any earnings thereon. Disability benefits may be provided under the Tier III defined contribution plan, and Tier III employee contributions to the defined contribution plan may be reduced by an amount to cover the cost of offering such disability benefits.

The Tier III defined contribution plan must offer a variety of options for investments, including investments handled by SURS as well as private sector investment options; provide a variety of options for payouts to inactive members and their survivors; and, to the extent permitted under federal law and as authorized by SURS, allow former participants to transfer or roll over employee and vested state contributions, and the earnings thereon, from the Tier III defined contribution plan into other qualified retirement plans.

HB 2405 prohibits payments for unused sick or vacation time from counting towards the pensionable earnings of individuals who first become participants of SURS on or after the effective date of the legislation. Additionally, HB 2405 prohibits unused, unpaid sick time from counting towards the service credit of individuals who first become participants of SURS on or after the effective date of the legislation.

Finally, HB 2405 establishes that a person is not required to participate in SURS. HB 2405 allows an employee to terminate his or her participation in SURS by notifying the System in writing. Such person is entitled to a refund of his or her contributions (other than contributions to the Self-Managed Plan or the Tier III defined contribution plan) minus the benefits received prior to the termination of participation in SURS.

HB 2405 takes effect immediately upon becoming law.

Status:

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HB 2491
- QILDRO Calculations
Sponsor(s): Representative Thomas M. Bennett

HB 2491 amends the Qualified Illinois Domestic Relations Orders (QILDROs) section of the General Provisions article of the Illinois Pension Code.

HB 2491 establishes that, for a QILDRO issued after January 1, 2018, the member’s salary on the date the QILDRO was issued is the salary that must be used to calculate the amount of the benefit under the QILDRO.

HB 2491 takes effect immediately upon becoming law.

Status:

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HB 2707
- Smoothing of Changes in Actuarial Assumptions
Sponsor(s): Representative Grant Wehrli

House Amendment #1 to HB 2707 requires any change in the actuarial assumptions that increases or decreases the required State contribution, including a change in assumed investment returns or mortality rates, that first applies in State Fiscal Year 2016 or thereafter, to be phased-in over a 3-year period beginning in the State Fiscal Year in which the actuarial change first applies or Fiscal Year 2018, whichever is later. The State contribution must be recertified for Fiscal Year 2018.

As introduced, HB 2707 amends the General Assembly Retirement System, State Employees Retirement System, State Universities Retirement System, Teachers Retirement System and Judges Retirement System articles of the Illinois Pension Code.

HB 2707 requires any change in the actuarial assumptions that increases or decreases the required State contribution, including a change in assumed investment returns or mortality rates, that first applies in State Fiscal Year 2016 or thereafter, to be phased-in over a 5-year period beginning in the State Fiscal Year in which the actuarial change first applies or Fiscal Year 2018, whichever is later.

HB 2707 also requires recertification of the State contribution for Fiscal Year 2018.

HB 2707 takes effect immediately upon becoming law.

Status:

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HB 2758
- Overtime Pay Not Included in Pensions
Sponsor(s): Representative Joe Sosnowski

HB 2758 amends the General Provisions article of the Illinois Pension Code.

HB 2758 prohibits pay to a participant in any pension fund or retirement system under the Illinois Pension Code for overtime performed on or after July 1, 2017, from being considered as pensionable salary, earnings or compensation.

HB 2758 takes effect in accordance with the effective date of laws act.

Status:

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