Synopsis As Introduced Creates the State Agency and Grantee Bonus Prohibition Act. Provides that no State agency may pay a bonus to its employees. Provides that no entity receiving State grant funds may pay a bonus from grant funds awarded for operational expenses to its employees. Defines terms. Effective immediately.
This bill will not impact any public pension fund or retirement system in Illinois.
Fiscal Note (State Retirement Systems)
HB 4025 in its current form, will have no financial impact on the State Retirement Systems, The reason for no impact is due to the fact that we do not currently pay bonuses to employees, nor plan to do so in future years.