HB2429 99TH GENERAL ASSEMBLY

LRB099 03803 SXM 23816 b

99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
HB2429

Introduced 2/17/2015, by Rep. Dwight Kay

SYNOPSIS AS INTRODUCED:

30 ILCS 105/5.866 new
30 ILCS 105/5.867 new
40 ILCS 5/2-100 new
40 ILCS 5/2-167 new
40 ILCS 5/18-100 new
40 ILCS 5/18-171 new

Amends the General Assembly and Judges Articles of the Pension Code. Provides that no participant may accrue service credit and no benefits may be paid to any retiree or survivor. Provides that the Court of Claims shall direct the refund of participant pension contributions. Repeals the General Assembly and Judges Articles 2 years after the effective date of the amendatory Act. Effective immediately.

FISCAL NOTE ACT MAY APPLY

PENSION IMPACT NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning public employee benefits.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The State Finance Act is amended by adding Sections 5.866 and 5.867 as follows:

(30 ILCS 105/5.866 new)

Sec. 5.866. The Article 2 Pension Contribution Refund Fund.

(30 ILCS 105/5.867 new)

Sec. 5.867. The Article 18 Pension Contribution Refund Fund.

Section 10. The Illinois Pension Code is amended by adding Sections 2-100, 2-167, 18-100, and 18-171 as follows:

(40 ILCS 5/2-100 new)

Sec. 2-100. Termination of benefits; refund of contributions. Notwithstanding any provision of law to the contrary:

(a) Except as otherwise provided in this Section, on and after the effective date of this amendatory Act of the 99th General Assembly, no participant shall accrue service credit under this Article and no participant or survivor of a participant shall receive any benefit under this Article, including, but not limited to, a retirement, reversionary, or survivor's annuity.

(b) On the effective date of this amendatory Act of the 99th General Assembly, all funds held by or on behalf of the System are transferred to a special fund in the State treasury, which shall be known as the Article 2 Pension Contribution Refund Fund. Distributions from the Article 2 Pension Contribution Refund Fund shall be made at the direction of the Court of Claims or as provided in subsection (d) of this Section.

(c) For the period prior to one year after the effective date of this amendatory Act of the 99th General Assembly, any participant, annuitant, refund beneficiary, or other beneficiary may apply to the Court of Claims to receive the refund of the contributions actually made by the participant or annuitant that have not already been paid in the form of benefits. No refunds shall be made for contributions made by the State, whether in the form of participant contributions or otherwise. The Court of Claims shall have the authority to order distributions from the Article 2 Pension Contribution Refund Fund to make such refunds, and no other funds may be used for that purpose.

(d) As soon as all orders for payment entered by the Court of Claims under subsection (c) of this Section have been complied with, any funds remaining in the Article 2 Pension Contribution Refund Fund shall be paid into the General Revenue Fund.

(40 ILCS 5/2-167 new)

Sec. 2-167. Repealer. This Article 2 is repealed 2 years after the effective date of this amendatory Act of the 99th General Assembly.

(40 ILCS 5/18-100 new)

Sec. 18-100. Termination of benefits; refund of contributions. Notwithstanding any provision of law to the contrary:

(a) Except as otherwise provided in this Section, on and after the effective date of this amendatory Act of the 99th General Assembly, no participant shall accrue service credit under this Article and no participant or survivor of a participant shall receive any benefit under this Article, including, but not limited to, a retirement, reversionary, or survivor's annuity.

(b) On the effective date of this amendatory Act of the 99th General Assembly, all funds held by or on behalf of the System are transferred to a special fund in the State treasury, which shall be known as the Article 18 Pension Contribution Refund Fund. Distributions from the Article 18 Pension Contribution Refund Fund shall be made at the direction of the Court of Claims or as provided in subsection (d) of this Section.

(c) For the period prior to one year after the effective date of this amendatory Act of the 99th General Assembly, any participant, annuitant, refund beneficiary, or other beneficiary may apply to the Court of Claims to receive the refund of the contributions actually made by the participant or annuitant that have not already been paid in the form of benefits. No refunds shall be made for contributions made by the State, whether in the form of participant contributions or otherwise. The Court of Claims shall have the authority to order distributions from the Article 18 Pension Contribution Refund Fund to make such refunds, and no other funds may be used for that purpose.

(d) As soon as all orders for payment entered by the Court of Claims under subsection (c) of this Section have been complied with, any funds remaining in the Article 18 Pension Contribution Refund Fund shall be paid into the General Revenue Fund.

(40 ILCS 5/18-171 new)

Sec. 18-171. Repealer. This Article 18 is repealed 2 years after the effective date of this amendatory Act of the 99th General Assembly.

Section 99. Effective date. This Act takes effect upon becoming law.