PENCD-DNST POL-IMRF TRANSFER House SponsorsRep. Brandon W. Phelps Senate Sponsors(Sen. Michael E. Hastings) 7/16/2014HousePublic Act . . . . . . . . . 98-0729 40 ILCS 5/3-101from Ch. 108 1/2, par. 3-10130 ILCS 805/8.38 new Amends the Downstate Police Article of the Illinois Pension Code. Provides that, upon creation of a newly established police pension fund by referendum or census, the following funds shall be transferred from the Illinois Municipal Retirement Fund to the newly created fund within 30 days: (1) the amounts actually contributed by or on behalf of the officer to the Article 7 Fund as municipal police officer employee contributions, plus interest on those amounts at the rate of 6% per year, compounded annually, from the date of contribution to the date of transfer to the Article 3 Fund and (2) an amount representing employer contributions, equal to the total amount determined under subdivision (1), plus interest on those amounts at the rate of 6% per year, compounded annually, from the date of contribution to the date of transfer. Provides that participation in IMRF shall terminate on the date of transfer. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.House Floor Amendment No. 2 Deletes reference to:40 ILCS 5/3-101Adds reference to:40 ILCS 5/7-210from Ch. 108 1/2, par. 7-210Replaces everything after the enacting clause. Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. Provides that, upon creation of a new downstate police pension fund by referendum or census, IMRF shall transfer to the new pension fund (1) the employee contributions for service as a police officer of the municipality that is creating the new pension fund, plus interest, and (2) an amount representing employer contributions, equal to the total amount determined under item (1). Provides that the transfer shall terminate any further rights of such employees under IMRF that arise out of that service. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. 2/5/2014HouseFiled with the Clerk by Rep. Brandon W. Phelps 2/5/2014HouseFirst Reading 2/5/2014HouseReferred to Rules Committee 2/24/2014HouseAssigned to Personnel and Pensions Committee 3/24/2014HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Brandon W. Phelps 3/24/2014HouseHouse Committee Amendment No. 1 Referred to Rules Committee 3/25/2014HouseHouse Committee Amendment No. 1 Rules Refers to Personnel and Pensions Committee 3/25/2014HouseDo Pass / Short Debate Personnel and Pensions Committee; 010-000-000 3/25/2014HouseHouse Committee Amendment No. 1 Tabled Pursuant to Rule 40 3/25/2014HousePlaced on Calendar 2nd Reading - Short Debate 4/3/2014HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Brandon W. Phelps 4/3/2014HouseHouse Floor Amendment No. 2 Referred to Rules Committee 4/7/2014HouseHouse Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 005-000-000 4/7/2014HouseSecond Reading - Short Debate 4/7/2014HouseHeld on Calendar Order of Second Reading - Short Debate 4/10/2014HouseHouse Floor Amendment No. 2 Adopted 4/10/2014HousePlaced on Calendar Order of 3rd Reading - Short Debate 4/10/2014HouseThird Reading - Short Debate - Passed 098-000-000 4/11/2014SenateArrive in Senate 4/11/2014SenatePlaced on Calendar Order of First Reading April 29, 2014 4/30/2014SenateChief Senate Sponsor Sen. Michael E. Hastings 4/30/2014SenateFirst Reading 4/30/2014SenateReferred to Assignments 5/6/2014SenateAssigned to Licensed Activities and Pensions 5/15/2014SenateDo Pass Licensed Activities and Pensions; 007-000-000 5/15/2014SenatePlaced on Calendar Order of 2nd Reading May 19, 2014 5/22/2014SenateSecond Reading 5/22/2014SenatePlaced on Calendar Order of 3rd Reading May 23, 2014 5/23/2014SenateRule 2-10 Committee/3rd Reading Deadline Established As May 31, 2014 5/27/2014SenateThird Reading - Passed; 058-000-000 5/27/2014HousePassed Both Houses 6/25/2014HouseSent to the Governor 7/16/2014HouseGovernor Approved 7/16/2014HouseEffective Date July 16, 2014 7/16/2014HousePublic Act . . . . . . . . . 98-0729