PEN CD-IMRF-FORMULA INCREASE House SponsorsRep. Kurt M. Granberg 1/11/2005HouseSession Sine Die 40 ILCS 5/7-142from Ch. 108 1/2, par. 7-14240 ILCS 5/7-173from Ch. 108 1/2, par. 7-17340 ILCS 5/7-173.3 new30 ILCS 805/8.27 new Amends the IMRF Article of the Illinois Pension Code. Increases the regular retirement formula to 2.15% of final earnings per year of service, for service earned on or after July 1, 2003. For service before that date, authorizes augmentation of the old retirement formula by payment of a specified contribution. Increases the normal employee contribution rate by 0.5% of earnings. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.Pension Note (Pension Laws Commission) The fiscal impact of HB 2292 has not been calculated, but would be significant. 2/19/2003HouseFiled with the Clerk by Rep. Kurt M. Granberg 2/19/2003HouseFirst Reading 2/19/2003HouseReferred to Rules Committee 2/21/2003HouseAssigned to Executive Committee 3/11/2003HousePension Note Filed 3/13/2003HouseRule 19(a) / Re-referred to Rules Committee 1/11/2005HouseSession Sine Die