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Legislations
Pension Statutes
You can click on the “View More” links for the respective pertinent statues of the Illinois Pension Code from the Illinois General Assembly.
House Pension Impact Notes – 101st General Assembly – Impact Notes (April 5, 2019)
Senate Pension Impact Notes – 101st General Assembly – Impact Notes (April 5, 2019)
Legislative Information System – 101st General Assembly – Pension Bills (May 11, 2020)
Legislative Information System – 101st General Assembly – All Bills in Order (May 11, 2020)
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Pension Working Group
Public Act 096-0006 amends the State Treasurer Act to add a new Section titled “working group; peer cost comparison.” The Treasurer shall convene a working group consisting of representatives from the retirement systems, pension funds, and investment board created under the Illinois Pension Code, persons that provide investment services, and members of the financial industry. The working group shall review the performance of investment managers and consultants providing investment services for the retirement systems, pension funds, and investment board created under the Illinois Pension Code. The group shall develop uniform standards for comparing the costs of investment services and make recommendations to the retirement systems, pension funds, and investment board. In performing its functions under this Section, the working group shall work in coordination with the Commission on Government Forecasting and Accountability. The Office of the State Treasurer shall provide administrative assistance to the working group as the group deems necessary and appropriate. The working group shall draft a report, and the Treasurer must submit such report, to the Governor and the General Assembly by January 1, 2011.
On March 12, 2010 James McNamee was notified by Alex Giannoulias, Illinois State Treasurer, of his appointment to the Pension Working Group.
At the first meeting (April 5, 2010) of the Pension Working Group, James McNamee was unanimously elected to be the Chair Person.
What is the Pension Working Group?
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2012 Illinois Handbook of Government
Pension working group appointees
County Employees’ Annuity & Benefit Fund
Nickol Hackett, Chief Fiscal Officer
Fireman’s Annuity & Benefit Fund of Chicago
Anthony Martin, Secretary
General Assembly Retirement System
Timothy Blair, Acting Executive Secretary
Illinois Municipal Retirement Fund
Walter Koziol, Chief Investment Officer
Illinois Public Pension Fund Association
James McNamee, President
Illinois State Board of Investments
William R. Atwood, Executive Director
Judges’ Retirement System
Justice Thomas Hoffman
Labors’ and Retirement Board Employees’
Annuity & Benefit Fund of Chicago
James Capasso, Jr., Executive Director
Metropolitan Water Reclamation District Retirement Fund
Susan A. Boutin, Executive Director
Municipal Employees’ Annuity & Benefit Fund of Chicago
James Mohler, Chief Investment Officer
Park Employees’ Annuity & Benefit Fund
Luke J. Howe, Executive Director
Chicago Teachers’ Pension Fund
Kevin B. Huber, Executive Director
Regional Transit Authority
Joseph Costello, Chief Fiscal Officer
State Teacher’s Retirement System
Stan Rupnik, Chief Investment Officer
State Universities Retirement System of Illinois
Daniel L. Allen, Chief Investment Officer
Franklin Park, LLC
Brad Atkins, CEO
Segall, Bryant & Hamill
Phil Hildebrandt, CEO
Adams Street Partners
Miguel F. Gonzalo, Parner
BILL NUMBER | BRIEF BILL DESCRIPTION | BILL SPONSOR | IPPFA POSITION | BILL STATUS |
|---|---|---|---|---|
HB4691 | Amends the Downstate Police Article of the Illinois Pension Code. Provides that, upon creation of a newly established police pension fund by referendum or census, the following funds shall be transferred from IMRF to the newly created fund within 30 days: (1) the amounts actually contributed by or on behalf of the officer to the Article 7 Fund as municipal police officer employee contributions, plus interest on those amounts at the rate of 6% per year, compounded annually, from the date of contribution to the date of transfer to the Article 3 Fund and (2) an amount representing employer contributions, equal to the total amount determined under subdivision (1), plus interest on those amounts at the rate of 6% per year, compounded annually, from the date of contribution to the date of transfer. Provides that participation in IMRF shall terminate on the date of transfer. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. | Rep. Brandon W. Phelps | ||
HB5811 | Amends the Downstate Police and Downstate Firefighter Articles of the Illinois Pension Code. In provisions concerning mistakes in benefit amounts, removes provisions that define "mistake". Effective immediately. | Rep. Barbara Wheeler | ||
HB5816 | Amends the Illinois Pension Code. Provides that if a member or participant of a pension fund or retirement system established under the Code is convicted of, or pleads guilty to, intimidation by a public official, bribery, official misconduct, engaging in kickbacks, fraudulently obtaining public moneys reserved for a disadvantaged business enterprise, or certain theft offenses, then none of the benefits that are provided for under the Code and that are attributable to the service of that person shall be paid… | Rep. Darlene J. Senger | ||
HB5919 | Amends the Downstate Police and Firefighter Articles of the Illinois Pension Code. Provides that, if at any time the Public Pension Division of the Department of Insurance finds that a pension has been calculated using compensation that should not have been included in salary or final average salary, then the beneficiary of that pension shall pay back to the fund an amount equal to the benefit incurred by using that compensation. Effective immediately. | Rep. Jeanne M. Ives | ||
HB5936 | Amends the Downstate Police and Downstate Firefighter Articles of the Illinois Pension Code. Provides that if a person who is receiving a pension re-enters active service with the same municipality, including a police chief who elects to participate in the Illinois Municipal Retirement Fund, or becomes a full-time employee in the same municipality, his or her pension payment shall be suspended while he or she is in active service or is employed by that municipality. In the Downstate Firefighter Article, provides that if the firefighter again retires and was in active service for 5 or more years (instead of 3 or more years), his or her monthly pension shall be based on the salary attached to the firefighter's rank at the date of last retirement. Effective immediately. | Rep. Grant Wehrli | Against | |
HB6030 | Amends the General Provisions Article of the Illinois Pension Code. Requires every pension fund or retirement system under the Code to develop and implement, by no later than June 30, 2017, a process to identify annuitants who are deceased. The process shall require the pension fund or retirement system to check for any deceased annuitants at least once per month and shall include the use of commonly accepted methods to identify persons who are deceased, which include, but are not limited to, the use of a third party entity that specializes in the identification of deceased persons, the use of data provided by the Social Security Administration, the use of data provided by the Department of Public Health's Office of Vital Records, or the use of any other method that is commonly used by other states to identify deceased persons. Amends the Vital Records Act to make a conforming change. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. | Rep. Deb Conroy, Rep. John Bradley, Rep. Sam Yingling | Against | |
HB6097 | Authorizes units of local government to provide alternative retirement plans in lieu of or in addition to the existing plan under the applicable Article. Provides that the alternative retirement plan may include a defined-benefit component, a defined contribution component, or both, and may include disability or survivor benefits and any other benefits that are permitted under federal law. Provides that the alternative retirement plan is not required to provide any minimum level of benefits and need not provide any benefits at all, other than mandatory Social Security coverage if applicable. Provides that service credit received under an alternative retirement plan may not be transferred to any other fund and may not be used under the Retirement Systems Reciprocal Act (Article 20 of the Code). Amends the Illinois Public Labor Relations Act and the Illinois Educational Labor Relations Act. Provides that employers shall not be required to bargain over the changes made by the Amendatory Act. | Rep. Thomas Morrison | Against | |
HB6133 | Amends the Illinois Lottery Law. Requires the Department of the Lottery, beginning on July 1, 2017, to offer a special instant scratch-off game for the purpose of helping to fund the police and firefighter pension funds created under Articles 3 and 4 of the Illinois Pension Code. Requires the net revenue from that game to be deposited into the Downstate Police and Firefighter Pension Distributive Fund. Provides that, subject to appropriation, moneys in the Fund shall be used by the Department of Insurance for making grants to each pension fund established under Article 3 or 4 of the Illinois Pension Code. Terminates the game when the amount collected for distribution reaches $2,500,000. Authorizes the adoption of rules necessary to implement and administer the game and the resulting distributions. Amends the State Finance Act to create the Fund. Effective immediately. | Rep. Frances Ann Hurley | Neutral | |
HJRCA0049 | Vote NO on the Proposed Constitutional Amendent! | Against | Adopted | |
IL Pension Code - HB0145 | Amends the Illinois Pension Code. Provides that no assets of any retirement system shall be invested in any foreign company that has an equity tie to the government of Iran or its instrumentalities and that is engaged in specified business activities. Exempts any foreign company providing humanitarian aid to the Iranian people through either a governmental or non-governmental organization. Requires the retirement system to sell, redeem, divest, or withdraw any investment held in violation of these requirements. | Rep. Jack D. Franks, Rep. Sidney H. Mathias | For | Sine Die |
IL Pension Code - HB0254 | Provides that if and only if the Supreme. Court of Illinois, in the consolidated case of In re Pension Reform Litigation, No. 118585, finds that either Public Act 98-599 is unconstitutional in its entirety or that the changes made by Public Act 98-599 to certain Sections of the Illinois Pension Code are unconstitutional, the Illinois Pension Code is amended to make changes to the prescribed funding formulas for the 5 State-funded retirement systems. In the Judges Article, increases the funding ratio from 90% to 100%. Makes corresponding changes. Effective immediately. | Rep. Joe Sosnowski | ||
IL Pension Code - SB2499 | Amends the Illinois Pension Code. Amends various Articles of the Code to provide that participants under those Articles are only entitled to creditable service for periods of service with a labor organization if the employee and employer contributions for the service is received by the Fund before the effective date of the amendatory Act. Amends the IMRF Article of the Illinois Pension Code to provide that the Illinois Municipal League and the Will County Governmental League are participating instrumentalities only with respect to service on or before the effective date of the amendatory Act. Effective immediately. | Sen. Matt Murphy | Neutral | Sine Die |
Police/Fire/IMRF - SB2183 | Amends the Downstate Police, Downstate Firefighters, and Illinois Municipal Retirement Fund (IMRF) Articles of the Illinois Pension Code. Changes the definition of municipality so that, on and after the effective date of the Act, a city, township, village, or incorporated town qualifies as a municipality for the purposes of the affected Articles if it has a population of more than 7,500 (rather than 5,000) but less than 500,000 inhabitants… | Sen. Dale E. Risinger | Against | Sine Die |
SB1218 | Amends the School Code. Provides that, beginning January 1, 2015, if a school board other than the Chicago Board of Schools offers a 403(b) plan to its officers, employees, or both, or makes contributions to such a plan on behalf of its officers, employees, or both, then the plan sponsor must act in accordance with the prudent investor rule when making plan-related decisions. Amends the State Mandates Act to require implementation without reimbursement. | Rep. Daniel Bliss, Rep Terry Link, Rep. Heather Steans | For | |
SB1365 | Amends the Chicago Firefighter Article of the Illinois Pension Code. Adds Parkinson's disease to the list of diseases for which certain firemen may be entitled to receive an occupational disease disability benefit. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. | Rep. Kimberley A. Lightford | Against | |
SB1366 | Amends the Cook County Article of the Illinois Pension Code. Defines the term "earned annuity". Effective immediately. | Rep. Daniel Biss | Passed | |
SB1518 | Amends the Property Tax Code. Provides that each property tax bill shall contain a separate statement for each of the taxing districts setting forth the dollar amount of tax due that will be used by the taxing district to pick up or otherwise pay its employees' contributions to a public pension fund. Provides that each taxing district that picks up or otherwise pays its employees' contributions to a public pension fund must certify this information to the county clerk on or before the last Tuesday in December. Effective immediately. | Rep. Michael Connelly, Rep. Pamela J. Althoff | Against | |
SB1584 | Amends the Cook County Article of the Illinois Pension Code. Provides that a county employee with 20 or more years of service, who first became a participant on or after January 1, 2011 and whose entire disability benefit credit period expires before attainment of age 62, may qualify for certain annuities. Effective immediately. | Sen. John G. Mulroe | Passed | |
SB1921 | Amends the Cook County Article of the Illinois Pension Code. Provides that the board shall list on its website all board vacancies, the election calendar, the statutory requirements for each elected board position, and election rules adopted by the board. | Sen. Kwane Raoul | Passed - Sent to Governor | |
SB1922 | Amends the Cook County Article of the Illinois Pension Code. Provides that a county employee with 20 or more years of service, who first became a participant on or after January 1, 2011 and whose entire disability benefit credit period expires before attainment of age 62, may qualify for certain annuities. Effective immediately. | Sen. Kwane Raoul | Passed | |
SB2775 | Amends the Downstate Police and Fire. Articles of the Illinois Pension Code in relation to employer contributions. Changes the funding formula by: (1) reducing the target funding ratio from 90% to 85%; (2) extending the amortization period to 2055; (3) changing the actuarial method from projected unit credit to entry age normal; and (4) deleting the "level percentage of payroll" calculation from the funding requirement. Also delays by 4 years the enforcement of late payments by intercepting State funds. Effective immediately. | Sen. Pamela J. Althoff | Against | |
SB3009 | Amends the General Assembly, State Employees, and Judges Articles of the Illinois Pension Code. Provides that if a fund or system mistakenly sets any benefit at an incorrect amount, it shall recalculate the benefit as soon as may be practicable after the mistake is discovered. Sets forth specific requirements regarding when a benefit is mistakenly set too low and when a benefit is mistakenly set too high. Amends the Downstate Firefighters and Cook County Forest Preserve Articles of the Illinois Pension Code. Provides that the amount of any overpayment of any pension or benefit due to fraud, misrepresentation, or error may be deducted from future payments to the recipient. | Sen. Jennifer Bertino-Tarrant | ||
SB3140 | Amends the Illinois Pension Code. In a provision concerning the Commission on Government Forecasting and Accountability, provides that officers, employees, and agents of pension funds and retirement systems subject to the Code shall cooperate with the Commission and shall upon request provide the Commission with such information and other assistance as it may find necessary or useful for the performance of its duties. Provides that all such requests shall be responded to within 10 business days, unless the Commission agrees to provide additional time. Effective immediately. | Sen. Wm. Sam McCann | Neutral | |
SB3276 | Authorizes units of local government to provide alternative retirement plans in lieu of or in addition to the existing plan under the applicable Article. Provides that the alternative retirement plan may include a defined-benefit component, a defined contribution component, or both, and may include disability or survivor benefits and any other benefits that are permitted under federal law. Provides that the alternative retirement plan is not required to provide any minimum level of benefits and need not provide any benefits at all, other than mandatory Social Security coverage if applicable. Provides that service credit received under an alternative retirement plan may not be transferred to any other fund and may not be used under the Retirement Systems Reciprocal Act (Article 20 of the Code). Amends the Illinois Public Labor Relations Act and the Illinois Educational Labor Relations Act. Provides that employers shall not be required to bargain over the changes made by the amendatory Act. | Sen. Matt Murphy | Against | |
SB3317 | Amends the Illinois Pension Code. Moves the investment power for eligible downstate police and downstate firefighter pension funds to the Illinois State Board of Investment. Reduces the amount of training required for trustees of those pension funds. Makes conforming changes. Changes all downstate police and firefighter pension funds to a fiscal year beginning May 1. Doubles the annual compliance fee paid by the funds to the Department of Insurance. Requires the Department of Insurance to impose penalties of up to $2,000 per day for noncompliance with certain provisions relating to the transfer of investment assets. Authorizes emergency rulemaking and amends the Illinois Administrative Procedure Act to add a conforming provision. Amends the State Mandates Act to require implementation without reimbursement. | Sen. Dan Duffy | Against |
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