Illinois General Assembly - Bill Status for HB3427
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 Bill Status of HB3427  97th General Assembly

Short Description:  PEN CD-EXCLUDE-INCR>6%/PYMNTS

House Sponsors
Rep. David Harris - Dwight Kay

Last Action
DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/1-161 new

Synopsis As Introduced
Amends the Illinois Pension Code. Requires all pension funds and retirement systems established under the Code to exclude the following items when computing the compensation, salary, or wages upon which an annuity, pension, or other benefit is to be based: (i) lump sum payments for retirement, severance, and sick or vacation time and (ii) any annual increase in compensation, salary, or wages of more than 6%. Applies only to persons who are participants on the effective date or who first become participants on or after the effective date. Effective immediately.

DateChamber Action
  2/24/2011HouseFiled with the Clerk by Rep. David Harris
  2/24/2011HouseFirst Reading
  2/24/2011HouseReferred to Rules Committee
  2/28/2011HouseAssigned to Executive Committee
  3/7/2011HouseAdded Chief Co-Sponsor Rep. Dwight Kay
  3/7/2011HouseRe-assigned to Personnel and Pensions Committee
  3/17/2011HouseRule 19(a) / Re-referred to Rules Committee
  1/8/2013HouseSession Sine Die

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