Bill Status of SB 3487   100th General Assembly

Short Description:  PEN CD-CONSOLIDATE DNST POLICE

Senate Sponsors
Sen. William E. Brady

Last Action  View All Actions

DateChamber Action
  1/9/2019SenateSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/3-101from Ch. 108 1/2, par. 3-101
40 ILCS 5/3-101.1 new
40 ILCS 5/3-101.2 new
40 ILCS 5/3-108.2a new
40 ILCS 5/3-109.5 new
40 ILCS 5/3-111from Ch. 108 1/2, par. 3-111
40 ILCS 5/3-111.1from Ch. 108 1/2, par. 3-111.1
40 ILCS 5/3-112from Ch. 108 1/2, par. 3-112
40 ILCS 5/7-199.5 new
40 ILCS 5/3-102.1 new
40 ILCS 5/3-103from Ch. 108 1/2, par. 3-103
40 ILCS 5/3-103.9 new
40 ILCS 5/3-104 new
40 ILCS 5/3-105from Ch. 108 1/2, par. 3-105
40 ILCS 5/3-108.2
40 ILCS 5/3-108.3
40 ILCS 5/3-110from Ch. 108 1/2, par. 3-110
40 ILCS 5/3-110.7
40 ILCS 5/3-125from Ch. 108 1/2, par. 3-125
40 ILCS 5/3-125.1from Ch. 108 1/2, par. 3-125.1
40 ILCS 5/3-128from Ch. 108 1/2, par. 3-128
40 ILCS 5/3-128.1 new
40 ILCS 5/3-128.2 new
40 ILCS 5/3-134from Ch. 108 1/2, par. 3-134
40 ILCS 5/3-135from Ch. 108 1/2, par. 3-135
40 ILCS 5/3-140.5 new
40 ILCS 5/3-141from Ch. 108 1/2, par. 3-141
40 ILCS 5/3-141a new
40 ILCS 5/3-141b new
40 ILCS 5/3-141c new
40 ILCS 5/3-141d new
30 ILCS 805/8.42 new

Synopsis As Introduced
Amends the Illinois Pension Code. Merges all Article 3 police pension funds into a single Downstate Police Pension Fund on January 1, 2020. Creates a Transition Board, which is responsible for planning, overseeing, and administering the consolidation. Authorizes the Transition Board to undertake numerous activities necessary for the consolidation, including making arrangements for staff, investments, transfer of assets and liabilities, acquisition of property, establishment of municipality accounts, and adopting rules and procedures. Authorizes the Transition Board to enter into contracts and to obligate and expend the assets of the Fund. Creates a new Board of Trustees for the Fund, and provides for administration of the Fund by the Transition Board until the new Board assumes its duties on January 1, 2021. Provides for investment of the Fund's assets by a custodian chosen by the Board of Trustees. Makes conforming and other changes. Provides that beginning January 1, 2020, the employee contribution for Tier 1 participants is 35% (rather than 9.91%) of a Tier 1 participant's salary. Provides that notwithstanding any other provision of law, a Tier 1 participant may voluntarily make an irrevocable election to instead become a Tier 2 participant with respect to service performed or established on and after the effective date of the election. Defines "Tier 1 participant" and "Tier 2 participant" and makes corresponding changes. Amends the State Mandates Act to require implementation without reimbursement. Makes other changes. Effective immediately, except that certain changes to the Illinois Pension Code take effect January 1, 2020.

Actions 
DateChamber Action
  2/16/2018SenateFiled with Secretary by Sen. Pamela J. Althoff
  2/16/2018SenateFirst Reading
  2/16/2018SenateReferred to Assignments
  2/27/2018SenateAssigned to Licensed Activities and Pensions
  4/12/2018SenateTo Subcommittee on Pension Consolidation
  4/13/2018SenateRule 2-10 Committee Deadline Established As April 27, 2018
  4/27/2018SenateRule 3-9(a) / Re-referred to Assignments
  9/30/2018SenateChief Sponsor Changed to Sen. William E. Brady
  1/9/2019SenateSession Sine Die

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