PEN CD-PENSION REFORM House SponsorsRep. Elaine Nekritz-Daniel Biss-David Harris-Chris Nybo, Kelly Burke, Kelly M. Cassidy, William Cunningham, Robyn Gabel, Ann Williams, Linda Chapa LaVia, William Davis, Sara Feigenholtz, Greg Harris, Elizabeth Hernandez, Charles W. Krezwick, Karen May, Deborah Mell, Cynthia Soto, Michael J. Zalewski, Cory Foster and Eddie Winters 1/8/2013HouseSession Sine Die 20 ILCS 3005/7from Ch. 127, par. 41720 ILCS 3005/8from Ch. 127, par. 41830 ILCS 105/13from Ch. 127, par. 14930 ILCS 105/24.12 new30 ILCS 105/24.13 new30 ILCS 122/2040 ILCS 5/1-103.340 ILCS 5/1-16040 ILCS 5/1-161 new40 ILCS 5/2-105.1 new40 ILCS 5/2-105.2 new40 ILCS 5/2-108from Ch. 108 1/2, par. 2-10840 ILCS 5/2-119from Ch. 108 1/2, par. 2-11940 ILCS 5/2-119.1from Ch. 108 1/2, par. 2-119.140 ILCS 5/2-121.1from Ch. 108 1/2, par. 2-121.140 ILCS 5/2-124from Ch. 108 1/2, par. 2-12440 ILCS 5/2-125from Ch. 108 1/2, par. 2-12540 ILCS 5/2-126from Ch. 108 1/2, par. 2-12640 ILCS 5/2-134from Ch. 108 1/2, par. 2-13440 ILCS 5/2-16240 ILCS 5/14-103.10from Ch. 108 1/2, par. 14-103.1040 ILCS 5/14-103.40 new40 ILCS 5/14-103.41 new40 ILCS 5/14-107from Ch. 108 1/2, par. 14-10740 ILCS 5/14-108from Ch. 108 1/2, par. 14-10840 ILCS 5/14-110from Ch. 108 1/2, par. 14-11040 ILCS 5/14-114from Ch. 108 1/2, par. 14-11440 ILCS 5/14-13140 ILCS 5/14-132from Ch. 108 1/2, par. 14-13240 ILCS 5/14-133from Ch. 108 1/2, par. 14-13340 ILCS 5/14-135.08from Ch. 108 1/2, par. 14-135.0840 ILCS 5/14-152.140 ILCS 5/15-107.1 new40 ILCS 5/15-107.2 new40 ILCS 5/15-111from Ch. 108 1/2, par. 15-11140 ILCS 5/15-113.6from Ch. 108 1/2, par. 15-113.640 ILCS 5/15-113.7from Ch. 108 1/2, par. 15-113.740 ILCS 5/15-134.540 ILCS 5/15-135from Ch. 108 1/2, par. 15-13540 ILCS 5/15-136from Ch. 108 1/2, par. 15-13640 ILCS 5/15-155from Ch. 108 1/2, par. 15-15540 ILCS 5/15-155.1 new40 ILCS 5/15-156from Ch. 108 1/2, par. 15-15640 ILCS 5/15-157from Ch. 108 1/2, par. 15-15740 ILCS 5/15-158.240 ILCS 5/15-165from Ch. 108 1/2, par. 15-16540 ILCS 5/15-19840 ILCS 5/16-106.4 new40 ILCS 5/16-106.5 new40 ILCS 5/16-121from Ch. 108 1/2, par. 16-12140 ILCS 5/16-132from Ch. 108 1/2, par. 16-13240 ILCS 5/16-133from Ch. 108 1/2, par. 16-13340 ILCS 5/16-133.1from Ch. 108 1/2, par. 16-133.140 ILCS 5/16-152from Ch. 108 1/2, par. 16-15240 ILCS 5/16-158from Ch. 108 1/2, par. 16-15840 ILCS 5/16-158.1from Ch. 108 1/2, par. 16-158.140 ILCS 5/16-158.2 new40 ILCS 5/16-20340 ILCS 5/20-121from Ch. 108 1/2, par. 20-12140 ILCS 5/20-123from Ch. 108 1/2, par. 20-12340 ILCS 5/20-124from Ch. 108 1/2, par. 20-12440 ILCS 5/20-125from Ch. 108 1/2, par. 20-12530 ILCS 805/8.36 new Amends the General Provisions, General Assembly, State Employee, State Universities, and Downstate Teacher Articles of the Illinois Pension Code. In the General Provisions Article, creates a cash balance plan for new hires of the State Universities and Teachers' Retirement Systems and for certain Tier II participants. Increases the retirement age for certain Tier I members and participants. Changes the conditions of eligibility for, and the amount of, automatic annual increases for Tier I retirees. Increases required employee contributions for Tier I members and participants. Limits pensionable salary for Tier I participants. Changes the required State contribution to each of the affected retirement systems so that those systems are 100% funded by 2043. Guarantees certain funding levels. In the State Universities and Downstate Teacher Articles, shifts costs to local employers. Makes other changes. Amends the State Finance Act. To the list of standardized items of appropriation, adds "State retirement contribution for annual normal cost" and "State retirement contribution for unfunded accrued liability". Defines those terms. Amends the Governor's Office of Management and Budget Act. Adds those terms to a list of classifications to be used in statements and estimates of expenditures submitted to the Office in connection with the preparation of a State budget. Amends the State Mandates Act to require implementation without reimbursement. Includes an inseverability provision. Makes other changes. Effective immediately.Balanced Budget Note (Office of Management and Budget) HB 6258 could provide significant savings to the fiscal year 2014 budget, approximately $1.6 billion from reduced retirement contributions. However, because the bill contains an inseverability clause, a successful legal challenge to any single provision of the bill would invalidate the bill in its entirety.Fiscal Note (Government Forecasting & Accountability) HB 6258 will not have a discernible fiscal impact upon the operations of the Commission on Government Forecasting and Accountability. Pension Note (Government Forecasting & Accountability) A recent cost study by SERS' actuary projects the State to save $326 million in contributions in FY 2014 and over $27 billion in contributions through FY 2045 by adopting the benefit changes in HB 6258. SURS' actuary projects the State will save $333 million in contributions for FY 2014 and approximately $18.8 billion in contributions through FY 2045 by adopting the benefit changes in HB 6258. TRS' actuary projects that the State will be able to reduce contributions in FY 2014 by $1.22 billion by adopting this bill. Additionally, the State is projected to save $114.17 billion in contributions through FY 2043. TRS's actuary did not provide data for FY 2044 and 2045 State Debt Impact Note (Government Forecasting & Accountability) HB 6258 would not change the amount of authorization for any type of State-issued or State-supported bond, and, therefore, would not affect the level of State indebtedness. However, after each series of Pension Obligation Bonds and Notes are paid off, the General Revenue Funds being used to pay those debts off would be relegated to the Pension Stabilization Fund until State FY 2045 or until each of the designated retirement systems reaches 100% funding ratio. 12/5/2012HouseFiled with the Clerk by Rep. Elaine Nekritz 12/5/2012HouseAdded Chief Co-Sponsor Rep. Daniel Biss 12/5/2012HouseAdded Chief Co-Sponsor Rep. David Harris 12/5/2012HouseAdded Chief Co-Sponsor Rep. Chris Nybo 12/5/2012HouseAdded Co-Sponsor Rep. Kelly Burke 12/5/2012HouseAdded Co-Sponsor Rep. Kelly M. Cassidy 12/5/2012HouseAdded Co-Sponsor Rep. William Cunningham 12/5/2012HouseAdded Co-Sponsor Rep. Robyn Gabel 12/5/2012HouseAdded Co-Sponsor Rep. Ann Williams 12/5/2012HouseAdded Co-Sponsor Rep. Linda Chapa LaVia 12/5/2012HouseAdded Co-Sponsor Rep. William Davis 12/5/2012HouseAdded Co-Sponsor Rep. Sara Feigenholtz 12/5/2012HouseAdded Co-Sponsor Rep. Jehan A. Gordon 12/5/2012HouseAdded Co-Sponsor Rep. Greg Harris 12/5/2012HouseAdded Co-Sponsor Rep. Elizabeth Hernandez 12/5/2012HouseAdded Co-Sponsor Rep. Charles W. Krezwick 12/5/2012HouseAdded Co-Sponsor Rep. Karen May 12/5/2012HouseAdded Co-Sponsor Rep. Deborah Mell 12/5/2012HouseAdded Co-Sponsor Rep. Cynthia Soto 12/5/2012HouseAdded Co-Sponsor Rep. Michael J. Zalewski 12/5/2012HouseAdded Co-Sponsor Rep. Cory Foster 12/5/2012HouseFirst Reading 12/5/2012HouseReferred to Rules Committee 12/5/2012HouseRemoved Co-Sponsor Rep. Jehan A. Gordon 12/11/2012HouseFiscal Note Requested by Rep. André M. Thapedi 12/11/2012HouseBalanced Budget Note Requested by Rep. André M. Thapedi 12/11/2012HousePension Note Requested by Rep. André M. Thapedi 12/11/2012HouseState Debt Impact Note Requested by Rep. André M. Thapedi 12/18/2012HouseAdded Co-Sponsor Rep. Eddie Winters 1/3/2013HouseBalanced Budget Note Filed 1/4/2013HouseFiscal Note Filed 1/4/2013HousePension Note Filed 1/4/2013HouseState Debt Impact Note Filed 1/8/2013HouseSession Sine Die