PEN CD-IMRF-FORMULA INCREASE
Summary
Amends the IMRF Article of the Illinois Pension Code. Provides that, by filing a resolution or ordinance with the Fund, an employer may increase the regular retirement formula to 2.25% of final earnings for the first 15 years of service and 2.5% of final earnings for each additional year of service, for service earned on or after the filing of the resolution or ordinance. For service earned before the filing of the resolution or ordinance, authorizes augmentation of the old retirement formula by payment of a specified contribution. Increases the normal employee contribution rate for employees of an employer that files a resolution or ordinance to increase the regular retirement formula. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2007
Committee Review
Floor Vote
Governor
Introduced Feb 8, 2007
Last action Jan 13, 2009
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
21
Key actions
0
Committee
12
Amendments
4
Jan 13, 2009
Senate · Failed
Session Sine Die
Mar 16, 2007
Senate · Referred to committee
Rule 3-9(a) / Re-referred to Rules
Mar 16, 2007
Senate · Referred to committee
Senate Committee Amendment No. 4 Rule 3-9(a) / Re-referred to Rules
Mar 16, 2007
Senate · Referred to committee
Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Rules
Mar 13, 2007
Senate · Reported by committee
Senate Committee Amendment No. 4 Rules Refers to Pensions and Investments
Mar 13, 2007
Senate · Referred to committee
Senate Committee Amendment No. 4 Referred to Rules
Mar 13, 2007
Senate · Amendment offered
Senate Committee Amendment No. 4 Filed with Secretary by Sen. A. J. Wilhelmi
Mar 12, 2007
Senate · Referred to committee
Senate Committee Amendment No. 3 Referred to Rules
Mar 12, 2007
Senate · Amendment offered
Senate Committee Amendment No. 3 Filed with Secretary by Sen. A. J. Wilhelmi
Mar 9, 2007
Senate · Referred to committee
Senate Committee Amendment No. 2 Referred to Rules
Mar 9, 2007
Senate · Amendment offered
Senate Committee Amendment No. 2 Filed with Secretary by Sen. A. J. Wilhelmi
Mar 6, 2007
Senate · Reported by committee
Senate Committee Amendment No. 1 Postponed - Pensions and Investments
Mar 6, 2007
Senate · Reported by committee
Senate Committee Amendment No. 1 Rules Refers to Pensions and Investments
Mar 2, 2007
Senate · Referred to committee
Senate Committee Amendment No. 1 Referred to Rules
Mar 2, 2007
Senate · Amendment offered
Senate Committee Amendment No. 1 Filed with Secretary by Sen. A. J. Wilhelmi
Feb 21, 2007
Senate · Referred to committee
Assigned to Pensions and Investments
Feb 8, 2007
Senate · Referred to committee
Referred to Rules
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
A. J. Wilhelmi
DDemocratic
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