Illinois General Assembly - Bill Status for HB1550
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 Bill Status of HB1550  93rd General Assembly

Short Description:  PEN CD-IMRF-POLICE PARTICIPATE

House Sponsors
Rep. Michael K. Smith

Last Action
DateChamber Action
  1/11/2005HouseSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/7-109.3from Ch. 108 1/2, par. 7-109.3
40 ILCS 5/7-132from Ch. 108 1/2, par. 7-132
30 ILCS 805/8.27 new


Synopsis As Introduced
Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. Requires participation by all full-time municipal police officers who do not participate in an Article 3 police pension fund. Makes these police officers eligible for the sheriff's law enforcement (SLEP) formula. Excludes Chicago. Pre-empts home rule powers. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

 Pension Note (Pension Laws Commission)
 The fiscal impact of HB 1550 cannot be determined and would vary among municipalities. If the employer does not currently participate in IMRF for their municipal employees or police officers, the cost of providing retirement benefits to police officers could be substantial. The cost would also increase for municipalities that currently offer police officers the IMRF regular formula, as HB 1550 requires all IMRF covered police officers to be covered by the SLEP formula.

Actions 
DateChamber Action
  2/7/2003HouseFiled with the Clerk by Rep. Michael K. Smith
  2/10/2003HouseFirst Reading
  2/10/2003HouseReferred to Rules Committee
  2/11/2003HouseAssigned to Executive Committee
  2/20/2003HousePension Note Filed
  3/13/2003HouseRule 19(a) / Re-referred to Rules Committee
  1/11/2005HouseSession Sine Die

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