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HB 1444 Illinois House · 98th Regular Session

PEN CD-IMRF-AMORTIZATION

Summary
Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. Provides that the Board shall determine the amortization period to be used in calculating the amount to be contributed by participating municipalities and participating instrumentalities in order to adjust for changes in the Fund's unfunded accrued liabilities. Specifies that the amortization period shall not exceed 30 years for participating municipalities or 10 years for participating instrumentalities. Allows participating employees to withdraw additional contributions only to the extent permitted by the federal Internal Revenue Code of 1986. Requires the Board to meet at least quarterly (rather than monthly). Also makes technical changes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Bill status signed all 5 stages cleared
Introduction
Mar 2013
Committee Review
May 2013
House Passage
May 2013
Senate Passage
May 2013
Signed into Law
Aug 2013
Introduced Mar 8, 2013 Signed Aug 9, 2013
Floor votes · Senate May 14, 2013 · House Mar 8, 2013

How they voted

42–0
Passed · 5 other
Total votes 47
May 14, 2013
D Democratic30
28 Yea 2
93% Yea
R Republican17
14 Yea 3
82% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
33
Key actions
5
Committee
6
Aug 9, 2013
Signed into law
Governor Approved
lower
May 14, 2013
Lower · Passed
Passed Both Houses
lower
May 1, 2013
Upper · Passed
Do Pass Licensed Activities and Pensions; 009-000-000
upper
Apr 16, 2013
Committee
Assigned to Licensed Activities and Pensions
upper
Mar 12, 2013
Committee
Referred to Assignments
upper
Mar 8, 2013
Introduced
Arrive in Senate
upper
Mar 8, 2013
House · Passed
House Vote: pass (97-0-2)
house
Feb 28, 2013
Lower · Passed
Do Pass / Short Debate Personnel and Pensions Committee; 009-000-000
lower
Feb 19, 2013
Committee
Assigned to Personnel and Pensions Committee
lower
Feb 13, 2013
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor

Sponsors

No sponsor information available.