Rep. Michael K. Smith

Amends the School Code. Makes a technical change in a Section concerning the State aid formula.

Amends the Downstate Firefighter Article of the Illinois Pension Code. Provides an alternative payment option, under which a qualifying member may convert up to 3 years of service credit into a lump sum payment at the time of retirement. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Amends the Chicago Teacher Article of the Illinois Pension Code. Provides for a one-time increase in certain retirement and survivor's annuities. Declares it to be the public policy of this State and the intention of the General Assembly to protect annuitants against significant decreases in the purchasing power of retirement and survivor's annuities. Directs the retirement system to review and report on significant changes in purchasing power. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Amends the Chicago Municipal Article of the Illinois Pension Code. Extends the City's health benefit obligations through June 30, 2005; increases the maximum monthly contribution from the Fund for those benefits. Accelerates the initial automatic annual increase for certain retirement annuitants. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Amends the Downstate Firefighter Article of the Illinois Pension Code. Provides for a 3% annual increase in pensions to surviving children. Incrementally increases certain minimum retirement, disability, and surviving spouse pensions. Provides that the minimum monthly pension payable to the surviving spouse of a firefighter who died while receiving a retirement pension, including any amount payable on account of children, shall be 100% of the monthly retirement pension that the deceased firefighter was receiving at the time of death, including any annual increases that have accrued. Adds a compounded 3% annual increase for survivor pensions that are payable on January 1, 2004. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Amends the State Comptroller Act. Requires that the Comptroller notify the Auditor General, the Governor, and the 4 legislative leaders when a State agency is delinquent in meeting reporting requirements set by law. Effective immediately.

Amends the State Employee Article of the Illinois Pension Code. Increases the retirement formula for certain regular coordinated members from 1.67% to 2.0% of final average compensation per year of service. Increases the employee contribution rate for those members from 4.0% to 5.03%. Effective immediately.

Amends the Illinois Municipal (IMRF) Article of the Illinois Pension Code to authorize participation by the United Counties Council of Illinois. Authorizes participation regardless of whether the Board makes certain findings that are required for other participating instrumentalities. Authorizes a person employed by the Council when it becomes a participating instrumentality to elect not to become a participating employee. Effective immediately.

Amends the Downstate Firefighters Article of the Illinois Pension Code. Provides for a 3% automatic annual increase in surviving spouses' pensions. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Amends the Illinois Municipal (IMRF) Article of the Illinois Pension Code to remove language requiring an affirmative resolution from the employer before airport police may become eligible for the sheriff's law enforcement employee formula. Makes park police eligible for the sheriff's law enforcement employee formula. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.