Illinois General Assembly - Bill Status for SB3455
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 Bill Status of SB3455  102nd General Assembly


Short Description:  PENCD-DNST POL & FIRE-IMRF

Senate Sponsors
Sen. Michael E. Hastings

Last Action
DateChamber Action
  1/10/2017SenateSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/1-101.6 new
40 ILCS 5/1-101.7 new
40 ILCS 5/1-113.05 new
40 ILCS 5/1-113.1
40 ILCS 5/1-113.2
40 ILCS 5/1-113.3
40 ILCS 5/1-113.4
40 ILCS 5/1-113.4a
40 ILCS 5/1-113.5
40 ILCS 5/1-113.6
40 ILCS 5/1-113.7
40 ILCS 5/3-127from Ch. 108 1/2, par. 3-127
40 ILCS 5/3-132from Ch. 108 1/2, par. 3-132
40 ILCS 5/3-135from Ch. 108 1/2, par. 3-135
40 ILCS 5/3-135.1 new
40 ILCS 5/3-135.2 new
40 ILCS 5/4-120from Ch. 108 1/2, par. 4-120
40 ILCS 5/4-123from Ch. 108 1/2, par. 4-123
40 ILCS 5/4-128from Ch. 108 1/2, par. 4-128
40 ILCS 5/4-128.1 new
40 ILCS 5/4-128.2 new
40 ILCS 5/7-226 new
40 ILCS 5/7-227 new
30 ILCS 805/8.40 new


Synopsis As Introduced
Amends the Illinois Pension Code. Moves the investment power for eligible downstate police and downstate firefighter pension funds that have net assets in trust that exceed an amount equal to 3 months of current liabilities to the Board of Trustees of the Illinois Municipal Retirement Fund (IMRF). Provides that within 18 months of the effective date of the amendatory Act, the Department of Insurance shall audit the investment assets of each eligible pension fund to determine a certified investment asset list. Provides that upon receipt of the certified investment asset list, the Board of IMRF shall initiate the transfer of assets from the board of trustees of the eligible pension fund to the Board of IMRF. Makes conforming changes. Amends the State Mandates Act to require implementation without reimbursement.

Actions 
DateChamber Action
  11/29/2016SenateFiled with Secretary by Sen. Michael E. Hastings
  11/29/2016SenateFirst Reading
  11/29/2016SenateReferred to Assignments
  1/10/2017SenateSession Sine Die

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