LUECHTEFELD. 40 ILCS 5/7-132 from Ch. 108 1/2, par. 7-132 Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code to authorize participation in the Fund by employees of the Kaskaskia Regional Port District. Effective immediately. PENSION NOTE (Pension Laws Commission) Employees of employers joining IMRF receive credit (without making contributions) for 5 years or 20% of service with the employer, whichever is less. Upon joining IMRF, the Kaskaskia Regional Port District would be required to make annual con- tributions to amortize the unfunded liability (over 10 years) created by employees' past service credit. The resulting increase in unfunded liability and associated annual costs cannot be determined, as the amount of outstanding service that would be granted to current employees of the Kaskaskia Regional Port District is unknown. Allowing the Kaskaskia Regional Port District into IMRF would not affect the accrued liability or annual cost of any other IMRF employer. FEB-20-2001 S FIRST READING FEB-20-2001 S REFERRED TO SENATE RULES COMMITTEE RULES FEB-21-2001 S ASSIGNED TO COMMITTEE INS & PENS. FEB-27-2001 S PENSION NOTE FILED MAR-06-2001 S POSTPONED MAR-20-2001 S POSTPONED MAR-27-2001 S POSTPONED MAR-27-2001 S COMMITTEE INS & PENS. MAR-31-2001 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES JAN-07-2003 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary