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 Bill Status of HB2962  100th General Assembly


Short Description:  PEN CD-COOK-FOREST-FUNDING

House Sponsors
Rep. Jaime M. Andrade, Jr.

Last Action
DateChamber Action
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
40 ILCS 5/9-169from Ch. 108 1/2, par. 9-169
40 ILCS 5/10-107from Ch. 108 1/2, par. 10-107
30 ILCS 805/8.41 new


Synopsis As Introduced
Amends the Cook County and Cook County Forest Preserve Articles of the Illinois Pension Code. Specifies the dollar amount of the required employer contributions through 2021. Beginning in the year 2022, provides for the annual required contribution to be the amount determined by the Fund to be equal to the sum of (i) the employer's portion of the projected normal cost for that fiscal year, plus (ii) an amount that is sufficient to bring the total actuarial assets of the Fund up to 100% of the total actuarial liabilities of the Fund by the end of 2051. Provides that the contributions may be taken from any revenue source, including, but not limited to, other tax revenues, proceeds of borrowings, or State or federal funds. Amends the State Mandates Act to require implementation without reimbursement. Makes technical and other changes. Effective immediately.

Actions 
DateChamber Action
  2/9/2017HouseFiled with the Clerk by Rep. Michael J. Zalewski
  2/9/2017HouseFirst Reading
  2/9/2017HouseReferred to Rules Committee
  2/22/2017HouseAssigned to Personnel & Pensions Committee
  3/3/2017HouseChief Sponsor Changed to Rep. Jaime M. Andrade, Jr.
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

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