PENCD-IMRF-AMORTIZING LIABLTY
Summary
Amends the Illinois Municipal Retirement Fund Article of the Illinois Pension Code. Provides that specified unfunded liabilities of participating municipalities shall be spread over the remainder of the period that is allowable under generally accepted accounting principles, except that the employer may provide for a longer period by adopting a resolution or ordinance specifying a 40-year period and submitting a certified copy of the ordinance or resolution to the fund. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Jan 2006
Committee Review
Floor Vote
Governor
Introduced Jan 20, 2006
Last action Jan 9, 2007
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
4
Key actions
0
Committee
1
Jan 9, 2007
Senate · Failed
Session Sine Die
Jan 20, 2006
Senate · Referred to committee
Referred to Rules
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
James F. Clayborne, Jr.
DDemocratic
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