Bill Status of HB2954 100th General Assembly
Short Description: PEN CD-FIRE CHIEF-IMRF-OPT OUT
Rep. John Cavaletto
| 3/31/2017||House||Rule 19(a) / Re-referred to Rules Committee|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Pension Code. Requires a person who becomes employed as a downstate fire chief on or after July 1, 2018 by a municipality that participates in the Illinois Municipal Retirement Fund (IMRF) to participate in IMRF rather than the relevant downstate firefighter pension fund. Until July 1, 2018, allows downstate fire chiefs to terminate their participation in a downstate firefighter pension fund and allows them to transfer their participation and pension credits from the downstate firefighter pension fund to IMRF. Provides that a municipality may provide an alternative retirement plan for a fire chief who terminates participation in its downstate firefighter pension fund and does not participate in IMRF. Also makes technical corrections. Effective immediately.