Illinois General Assembly - Bill Status for HB3162
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 Bill Status of HB3162  98th General Assembly

Short Description:  PEN CD-REFORM STATE SYSTEMS

House Sponsors
Rep. Jay Hoffman - Raymond Poe - Bill Mitchell - Linda Chapa LaVia - Adam Brown, Robert W. Pritchard, Wayne Rosenthal, Emanuel Chris Welch, Sandra M. Pihos, Dennis M. Reboletti, Robyn Gabel, Daniel V. Beiser, Kelly M. Cassidy, Ann Williams, Patrick J. Verschoore, Mike Smiddy, Al Riley, Anthony DeLuca, Lawrence M. Walsh, Jr., Naomi D. Jakobsson, Norine Hammond, John D. Cavaletto, Robert F. Martwick, Josh Harms, Chad Hays, Rich Brauer, Donald L. Moffitt, David Reis, C.D. Davidsmeyer, Charles E. Meier, Mike Bost, Brandon W. Phelps, Michael W. Tryon, Mary E. Flowers, John D'Amico, Jack D. Franks, Kelly Burke and Camille Y. Lilly

Last Action
DateChamber Action
  12/3/2014HouseSession Sine Die

Statutes Amended In Order of Appearance
30 ILCS 122/20
30 ILCS 122/25
40 ILCS 5/1-103.3
40 ILCS 5/2-105.1 new
40 ILCS 5/2-105.2 new
40 ILCS 5/2-124from Ch. 108 1/2, par. 2-124
40 ILCS 5/2-125from Ch. 108 1/2, par. 2-125
40 ILCS 5/2-126from Ch. 108 1/2, par. 2-126
40 ILCS 5/14-103.40 new
40 ILCS 5/14-103.41 new
40 ILCS 5/14-131
40 ILCS 5/14-132from Ch. 108 1/2, par. 14-132
40 ILCS 5/14-133from Ch. 108 1/2, par. 14-133
40 ILCS 5/15-107.1 new
40 ILCS 5/15-107.2 new
40 ILCS 5/15-136from Ch. 108 1/2, par. 15-136
40 ILCS 5/15-155from Ch. 108 1/2, par. 15-155
40 ILCS 5/15-156from Ch. 108 1/2, par. 15-156
40 ILCS 5/15-157from Ch. 108 1/2, par. 15-157
40 ILCS 5/16-106.4 new
40 ILCS 5/16-106.5 new
40 ILCS 5/16-133from Ch. 108 1/2, par. 16-133
40 ILCS 5/16-152from Ch. 108 1/2, par. 16-152
40 ILCS 5/16-158from Ch. 108 1/2, par. 16-158
40 ILCS 5/16-158.2 new


Synopsis As Introduced
Amends the Budget Stabilization Act. Provides for transfers from the General Revenue Fund to the Pension Stabilization Fund according to a specified schedule beginning in FY 2016 and continuing until FY 2045 or until the retirement funds have achieved a 100% funding ratio, whichever is earlier. Amends the General Assembly, State Employee, State Universities and Downstate Teacher Articles of the Illinois Pension Code. Changes the manner in which the annual required State contribution is calculated so that the affected systems are 100% funded by 2045. Provides that employee contributions to the retirement systems are increased an additional 1% on July 1, 2013 and 2% on July 1, 2014. Provides that the State is contractually obligated to each retirement plan participant and retiree to provide funding to the retirement systems according to the specified amortization schedule beginning in FY 2016 and continuing until FY 2045 or until the retirement funds have achieved a 100% funding ratio, whichever is earlier, in addition to the annual required State contribution certified by the Board for each fiscal year. Provides that each retirement system has the right to bring a mandamus action against the State to compel the State to make any installment of the annual required State contribution certified by the Board and the transfers required under the Budget Stabilization Act. Provides that if a retirement system fails to bring a mandamus action against the State to compel the State to make any required installment, then any participant or retiree may bring such a mandamus action. Effective July 1, 2013.

 Pension Note (Government Forecasting & Accountability)
 HB 3162 requires GARS, SERS, SURS, and TRS to adopt a 100% funded ratio by FY 2045. The Commission's actuary has determined that the costs of such a funding schedule are not fully offset by the 2% increase in employee contributions and will end up costing the State an additional $5.1 million in FY 2014 and $292.6 million in the long run.

Actions 
DateChamber Action
  2/26/2013HouseFiled with the Clerk by Rep. Jay Hoffman
  2/26/2013HouseAdded Chief Co-Sponsor Rep. Raymond Poe
  2/26/2013HouseFirst Reading
  2/26/2013HouseReferred to Rules Committee
  2/27/2013HouseAdded Chief Co-Sponsor Rep. Bill Mitchell
  3/1/2013HouseAdded Co-Sponsor Rep. Robert W. Pritchard
  3/1/2013HouseAdded Chief Co-Sponsor Rep. Linda Chapa LaVia
  3/1/2013HouseAdded Chief Co-Sponsor Rep. Adam Brown
  3/1/2013HouseAdded Co-Sponsor Rep. Wayne Rosenthal
  3/1/2013HouseAdded Co-Sponsor Rep. Emanuel Chris Welch
  3/1/2013HouseAdded Co-Sponsor Rep. Sandra M. Pihos
  3/1/2013HouseAdded Co-Sponsor Rep. Dennis M. Reboletti
  3/1/2013HouseAdded Co-Sponsor Rep. Robyn Gabel
  3/1/2013HouseAdded Co-Sponsor Rep. Daniel V. Beiser
  3/1/2013HouseAdded Co-Sponsor Rep. Kelly M. Cassidy
  3/1/2013HouseAdded Co-Sponsor Rep. Ann Williams
  3/1/2013HouseAdded Co-Sponsor Rep. Patrick J. Verschoore
  3/1/2013HouseAdded Co-Sponsor Rep. Mike Smiddy
  3/1/2013HouseAdded Co-Sponsor Rep. Al Riley
  3/5/2013HouseAdded Co-Sponsor Rep. Anthony DeLuca
  3/5/2013HouseAdded Co-Sponsor Rep. Lawrence M. Walsh, Jr.
  3/5/2013HouseAdded Co-Sponsor Rep. Naomi D. Jakobsson
  3/7/2013HouseAdded Co-Sponsor Rep. Norine Hammond
  3/8/2013HouseAdded Co-Sponsor Rep. John D. Cavaletto
  3/11/2013HouseAssigned to Personnel and Pensions Committee
  3/13/2013HouseAdded Co-Sponsor Rep. Robert F. Martwick
  3/14/2013HouseAdded Co-Sponsor Rep. Josh Harms
  3/14/2013HouseAdded Co-Sponsor Rep. Chad Hays
  3/14/2013HouseAdded Co-Sponsor Rep. Rich Brauer
  3/14/2013HouseAdded Co-Sponsor Rep. Donald L. Moffitt
  3/14/2013HouseAdded Co-Sponsor Rep. David Reis
  3/14/2013HouseAdded Co-Sponsor Rep. C.D. Davidsmeyer
  3/14/2013HouseAdded Co-Sponsor Rep. Charles E. Meier
  3/15/2013HouseAdded Co-Sponsor Rep. Mike Bost
  3/18/2013HouseAdded Co-Sponsor Rep. Brandon W. Phelps
  3/19/2013HouseAdded Co-Sponsor Rep. Michael W. Tryon
  3/20/2013HousePension Note Filed
  3/21/2013HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Jay Hoffman
  3/21/2013HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  3/21/2013HouseAdded Co-Sponsor Rep. Mary E. Flowers
  3/22/2013HouseRule 19(a) / Re-referred to Rules Committee
  4/4/2013HouseAdded Co-Sponsor Rep. John D'Amico
  4/8/2013HouseAdded Co-Sponsor Rep. Jack D. Franks
  4/24/2013HouseAdded Co-Sponsor Rep. Kelly Burke
  5/7/2013HouseAdded Co-Sponsor Rep. Camille Y. Lilly
  12/3/2014HouseSession Sine Die

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