Full Text of HB5137 100th General Assembly
HB5137ham001 100TH GENERAL ASSEMBLY | Rep. Robert Martwick Filed: 4/18/2018
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| 1 | | AMENDMENT TO HOUSE BILL 5137
| 2 | | AMENDMENT NO. ______. Amend House Bill 5137 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 5. The Illinois Pension Code is amended by | 5 | | changing Sections 15-198 and 16-203 and by adding Sections | 6 | | 15-202 and 16-204 as follows: | 7 | | (40 ILCS 5/15-198)
| 8 | | Sec. 15-198. Application and expiration of new benefit | 9 | | increases. | 10 | | (a) As used in this Section, "new benefit increase" means | 11 | | an increase in the amount of any benefit provided under this | 12 | | Article, or an expansion of the conditions of eligibility for | 13 | | any benefit under this Article, that results from an amendment | 14 | | to this Code that takes effect after the effective date of this | 15 | | amendatory Act of the 94th General Assembly. "New benefit | 16 | | increase", however, does not include any benefit increase |
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| 1 | | resulting from the changes made to Article 1 or this Article by | 2 | | Public Act 100-23 or this amendatory Act of the 100th General | 3 | | Assembly this amendatory Act of the 100th General Assembly . | 4 | | (b) Notwithstanding any other provision of this Code or any | 5 | | subsequent amendment to this Code, every new benefit increase | 6 | | is subject to this Section and shall be deemed to be granted | 7 | | only in conformance with and contingent upon compliance with | 8 | | the provisions of this Section.
| 9 | | (c) The Public Act enacting a new benefit increase must | 10 | | identify and provide for payment to the System of additional | 11 | | funding at least sufficient to fund the resulting annual | 12 | | increase in cost to the System as it accrues. | 13 | | Every new benefit increase is contingent upon the General | 14 | | Assembly providing the additional funding required under this | 15 | | subsection. The Commission on Government Forecasting and | 16 | | Accountability shall analyze whether adequate additional | 17 | | funding has been provided for the new benefit increase and | 18 | | shall report its analysis to the Public Pension Division of the | 19 | | Department of Insurance. A new benefit increase created by a | 20 | | Public Act that does not include the additional funding | 21 | | required under this subsection is null and void. If the Public | 22 | | Pension Division determines that the additional funding | 23 | | provided for a new benefit increase under this subsection is or | 24 | | has become inadequate, it may so certify to the Governor and | 25 | | the State Comptroller and, in the absence of corrective action | 26 | | by the General Assembly, the new benefit increase shall expire |
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| 1 | | at the end of the fiscal year in which the certification is | 2 | | made.
| 3 | | (d) Every new benefit increase shall expire 5 years after | 4 | | its effective date or on such earlier date as may be specified | 5 | | in the language enacting the new benefit increase or provided | 6 | | under subsection (c). This does not prevent the General | 7 | | Assembly from extending or re-creating a new benefit increase | 8 | | by law. | 9 | | (e) Except as otherwise provided in the language creating | 10 | | the new benefit increase, a new benefit increase that expires | 11 | | under this Section continues to apply to persons who applied | 12 | | and qualified for the affected benefit while the new benefit | 13 | | increase was in effect and to the affected beneficiaries and | 14 | | alternate payees of such persons, but does not apply to any | 15 | | other person, including without limitation a person who | 16 | | continues in service after the expiration date and did not | 17 | | apply and qualify for the affected benefit while the new | 18 | | benefit increase was in effect.
| 19 | | (Source: P.A. 100-23, eff. 7-6-17.) | 20 | | (40 ILCS 5/15-202 new) | 21 | | Sec. 15-202. Optional defined contribution benefit. As | 22 | | soon as practicable after the effective date of this amendatory | 23 | | Act of the 100th General Assembly, the System shall offer a | 24 | | defined contribution benefit to active members of the System. | 25 | | The defined contribution benefit shall be an optional benefit |
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| 1 | | to any member who chooses to participate. The defined | 2 | | contribution benefit shall collect optional employee and | 3 | | optional employer contributions into an account and shall offer | 4 | | investment options to the participant. The benefit under this | 5 | | Section shall be operated in full compliance with any | 6 | | applicable State and federal laws, and the System shall utilize | 7 | | generally accepted practices in creating and maintaining the | 8 | | benefit for the best interest of the participants. The System | 9 | | may use funds from the employee and employer contributions to | 10 | | defray any and all costs of creating and maintaining the | 11 | | benefit. The System shall produce an annual report on the | 12 | | participation in the benefit and shall make the report public. | 13 | | (40 ILCS 5/16-203)
| 14 | | Sec. 16-203. Application and expiration of new benefit | 15 | | increases. | 16 | | (a) As used in this Section, "new benefit increase" means | 17 | | an increase in the amount of any benefit provided under this | 18 | | Article, or an expansion of the conditions of eligibility for | 19 | | any benefit under this Article, that results from an amendment | 20 | | to this Code that takes effect after June 1, 2005 (the | 21 | | effective date of Public Act 94-4). "New benefit increase", | 22 | | however, does not include any benefit increase resulting from | 23 | | the changes made to Article 1 or this Article by Public Act | 24 | | 95-910 , Public Act 100-23, or this amendatory Act of the 100th | 25 | | General Assembly or this amendatory Act of the 100th General |
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| 1 | | Assembly . | 2 | | (b) Notwithstanding any other provision of this Code or any | 3 | | subsequent amendment to this Code, every new benefit increase | 4 | | is subject to this Section and shall be deemed to be granted | 5 | | only in conformance with and contingent upon compliance with | 6 | | the provisions of this Section.
| 7 | | (c) The Public Act enacting a new benefit increase must | 8 | | identify and provide for payment to the System of additional | 9 | | funding at least sufficient to fund the resulting annual | 10 | | increase in cost to the System as it accrues. | 11 | | Every new benefit increase is contingent upon the General | 12 | | Assembly providing the additional funding required under this | 13 | | subsection. The Commission on Government Forecasting and | 14 | | Accountability shall analyze whether adequate additional | 15 | | funding has been provided for the new benefit increase and | 16 | | shall report its analysis to the Public Pension Division of the | 17 | | Department of Insurance. A new benefit increase created by a | 18 | | Public Act that does not include the additional funding | 19 | | required under this subsection is null and void. If the Public | 20 | | Pension Division determines that the additional funding | 21 | | provided for a new benefit increase under this subsection is or | 22 | | has become inadequate, it may so certify to the Governor and | 23 | | the State Comptroller and, in the absence of corrective action | 24 | | by the General Assembly, the new benefit increase shall expire | 25 | | at the end of the fiscal year in which the certification is | 26 | | made.
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| 1 | | (d) Every new benefit increase shall expire 5 years after | 2 | | its effective date or on such earlier date as may be specified | 3 | | in the language enacting the new benefit increase or provided | 4 | | under subsection (c). This does not prevent the General | 5 | | Assembly from extending or re-creating a new benefit increase | 6 | | by law. | 7 | | (e) Except as otherwise provided in the language creating | 8 | | the new benefit increase, a new benefit increase that expires | 9 | | under this Section continues to apply to persons who applied | 10 | | and qualified for the affected benefit while the new benefit | 11 | | increase was in effect and to the affected beneficiaries and | 12 | | alternate payees of such persons, but does not apply to any | 13 | | other person, including without limitation a person who | 14 | | continues in service after the expiration date and did not | 15 | | apply and qualify for the affected benefit while the new | 16 | | benefit increase was in effect.
| 17 | | (Source: P.A. 100-23, eff. 7-6-17.) | 18 | | (40 ILCS 5/16-204 new) | 19 | | Sec. 16-204. Optional defined contribution benefit. As | 20 | | soon as practicable after the effective date of this amendatory | 21 | | Act of the 100th General Assembly, the System shall offer a | 22 | | defined contribution benefit to active members of the System. | 23 | | The defined contribution benefit shall be an optional benefit | 24 | | to any member who chooses to participate. The defined | 25 | | contribution benefit shall collect optional employee and |
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| 1 | | optional employer contributions into an account and shall offer | 2 | | investment options to the participant. The benefit under this | 3 | | Section shall be operated in full compliance with any | 4 | | applicable State and federal laws, and the System shall utilize | 5 | | generally accepted practices in creating and maintaining the | 6 | | benefit for the best interest of the participants. The System | 7 | | may use funds from the employee and employer contributions to | 8 | | defray any and all costs of creating and maintaining the | 9 | | benefit. The System shall produce an annual report on the | 10 | | participation in the benefit and shall make the report public.
| 11 | | Section 99. Effective date. This Act takes effect upon | 12 | | becoming law.".
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