PEN CD-TRANSFER-ART 5 TO ART 3 House SponsorsRep. Renée Kosel Senate Sponsors(Sen. Ira I. Silverstein-John G. Mulroe) 8/12/2011HousePublic Act . . . . . . . . . 97-0326 40 ILCS 5/3-110.11 new40 ILCS 5/5-237.5 new30 ILCS 805/8.35 new Amends the Downstate Police Article of the Illinois Pension Code. Authorizes a person, for 60 days after the effective date of the amendatory Act, to transfer up to 10 years of creditable service from the Chicago police pension fund to a downstate police pension fund after paying to the downstate fund an amount that is determined by its board to be equal to (i) the difference between the amount of employee and employer contributions transferred to the fund from the Chicago fund and the amounts that would have been contributed had they been deposited into the downstate fund plus (ii) interest on the difference at the actuarially assumed rate, compounded annually, from the date of service to the date of payment. Amends the Chicago Police Article of the Illinois Pension Code. Provides that, upon receiving a written application to make such a transfer, the Chicago police pension fund shall pay employee contributions, employer contributions, and interest to the downstate police pension fund. Provides that the transferee's participation in the Chicago police pension fund ends upon the making of the transfer. Authorizes the reinstatement of service credit prior to transfer. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.House Floor Amendment No. 2 Provides that, if, as a part of a transfer of service credit from the Chicago police pension fund to a downstate police pension fund, a person wants to reinstate creditable service that was terminated upon the receipt of a refund, then he or she must pay to the Chicago police pension fund the amount of the refund plus interest thereon at the actuarially assumed rate (instead of 6%), compounded annually, from the date of the refund to the date of payment. 2/16/2011HouseFiled with the Clerk by Rep. Renée Kosel 2/16/2011HouseFirst Reading 2/16/2011HouseReferred to Rules Committee 2/22/2011HouseAssigned to Personnel and Pensions Committee 2/22/2011HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Renée Kosel 2/22/2011HouseHouse Committee Amendment No. 1 Referred to Rules Committee 2/22/2011HouseHouse Committee Amendment No. 1 Rules Refers to Personnel and Pensions Committee 3/10/2011HouseDo Pass / Short Debate Personnel and Pensions Committee; 009-000-000 3/10/2011HousePlaced on Calendar 2nd Reading - Short Debate 3/10/2011HouseHouse Committee Amendment No. 1 Tabled Pursuant to Rule 40 3/10/2011HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Renée Kosel 3/10/2011HouseHouse Floor Amendment No. 2 Referred to Rules Committee 3/15/2011HouseHouse Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 004-000-000 3/17/2011HouseSecond Reading - Short Debate 3/17/2011HouseHouse Floor Amendment No. 2 Adopted by Voice Vote 3/17/2011HousePlaced on Calendar Order of 3rd Reading - Short Debate 3/29/2011HouseThird Reading - Short Debate - Passed 096-017-000 3/30/2011SenateArrive in Senate 3/30/2011SenatePlaced on Calendar Order of First Reading March 31, 2011 4/4/2011SenateChief Senate Sponsor Sen. Ira I. Silverstein 4/7/2011SenateFirst Reading 4/7/2011SenateReferred to Assignments 4/12/2011SenateAdded as Alternate Chief Co-Sponsor Sen. John G. Mulroe 4/27/2011SenateAssigned to Pensions and Investments 5/4/2011SenatePostponed - Pensions and Investments 5/11/2011SenateDo Pass Pensions and Investments; 007-000-000 5/11/2011SenatePlaced on Calendar Order of 2nd Reading May 12, 2011 5/12/2011SenateSecond Reading 5/12/2011SenatePlaced on Calendar Order of 3rd Reading May 13, 2011 5/17/2011SenateThird Reading - Passed; 058-000-000 5/17/2011HousePassed Both Houses 6/15/2011HouseSent to the Governor 8/12/2011HouseGovernor Approved 8/12/2011HouseEffective Date August 12, 2011 8/12/2011HousePublic Act . . . . . . . . . 97-0326