Illinois General Assembly - Bill Status for HB2900

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Bill Status of HB2900 100th General Assembly

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Short Description: PENCD-TRS-EARLY RETMT CONTRIBS

House Sponsors
Rep. Elaine Nekritz

Last Action

Date	Chamber	Action
12/3/2014	House	Session Sine Die

Statutes Amended In Order of Appearance

40 ILCS 5/16-133.2

from Ch. 108 1/2, par. 16-133.2

Synopsis As Introduced
Amends the Downstate Teacher Article of the Illinois Pension Code. Continues the program of early retirement without discount. Increases the required employee and employer contributions to 14.4% and 29.3% of salary, respectively, as recommended by the Commission on Government Forecasting and Accountability. Effective immediately.

	Pension Note (Government Forecasting & Accountability)
	TRS' actuary has recommended revising the ERO member contribution rate to 14.4% (currently 11.5%) and the employer contribution rate to 29.3% (currently 23.5%). The Commission's actuary has reviewed the revised contribution rates and has found them to be sufficient to fund 100% of the ERO benefit going forward.

House Committee Amendment No. 1

	Adds reference to:
	40 ILCS 5/16-176	from Ch. 108 1/2, par. 16-176

Replaces everything after the enacting clause. Amends the Downstate Teacher Article of the Illinois Pension Code. Provides that, beginning July 1, 2013, a member shall be ineligible to elect to participate in the early retirement without discount program, unless, prior to July 1, 2013, he or she has notified his or her employer of his or her intent to retire under that program before that date. Provides that the early retirement without discount option is otherwise terminated as of July 1, 2013. Effective immediately.

Actions

Date	Chamber	Action
2/25/2013	House	Filed with the Clerk by Rep. Elaine Nekritz
2/26/2013	House	First Reading
2/26/2013	House	Referred to Rules Committee
3/4/2013	House	Assigned to Personnel and Pensions Committee
3/13/2013	House	Pension Note Filed
3/19/2013	House	House Committee Amendment No. 1 Filed with Clerk by Rep. Elaine Nekritz
3/19/2013	House	House Committee Amendment No. 1 Referred to Rules Committee
3/20/2013	House	House Committee Amendment No. 1 Rules Refers to Personnel and Pensions Committee
3/21/2013	House	House Committee Amendment No. 1 Adopted in Personnel and Pensions Committee; by Voice Vote
3/21/2013	House	Do Pass as Amended / Short Debate Personnel and Pensions Committee; 008-000-000
3/22/2013	House	Placed on Calendar 2nd Reading - Short Debate
4/18/2013	House	Second Reading - Short Debate
4/18/2013	House	Held on Calendar Order of Second Reading - Short Debate
4/19/2013	House	Second Reading - Short Debate
4/19/2013	House	Held on Calendar Order of Second Reading - Short Debate
4/19/2013	House	Rule 19(a) / Re-referred to Rules Committee
12/3/2014	House	Session Sine Die

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