Illinois General Assembly - Bill Status for SB2590

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Bill Status of SB2590 101st General Assembly

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Short Description: PENCD-IMRF-AMORTIZING LIABLTY

Senate Sponsors
Sen. James F. Clayborne, Jr.

Last Action

Date	Chamber	Action
1/9/2007	Senate	Session Sine Die

Statutes Amended In Order of Appearance

40 ILCS 5/7-172

from Ch. 108 1/2, par. 7-172

Synopsis As Introduced
Amends the Illinois Municipal Retirement Fund Article of the Illinois Pension Code. Provides that specified unfunded liabilities of participating municipalities shall be spread over the remainder of the period that is allowable under generally accepted accounting principles, except that the employer may provide for a longer period by adopting a resolution or ordinance specifying a 40-year period and submitting a certified copy of the ordinance or resolution to the fund. Effective immediately.

Actions

Date	Chamber	Action
1/20/2006	Senate	Filed with Secretary by Sen. James F. Clayborne, Jr.
1/20/2006	Senate	First Reading
1/20/2006	Senate	Referred to Rules
1/9/2007	Senate	Session Sine Die

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