Illinois General Assembly - Bill Status for SB0043
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 Bill Status of SB0043  102nd General Assembly


Short Description:  PENCD-BENEFIT DISTRIBUTION AGE

Senate Sponsors
Sen. Robert F. Martwick

Last Action
DateChamber Action
  4/16/2021SenateRule 3-9(a) / Re-referred to Assignments

Statutes Amended In Order of Appearance
40 ILCS 5/2-121.3from Ch. 108 1/2, par. 2-121.3
40 ILCS 5/7-141from Ch. 108 1/2, par. 7-141
40 ILCS 5/14-121.1from Ch. 108 1/2, par. 14-121.1
40 ILCS 5/15-135from Ch. 108 1/2, par. 15-135
40 ILCS 5/16-142.3from Ch. 108 1/2, par. 16-142.3
40 ILCS 5/18-128.3from Ch. 108 1/2, par. 18-128.3
30 ILCS 805/8.45 new


Synopsis As Introduced
Amends the Illinois Pension Code. In the Illinois Municipal Retirement Fund (IMRF) Article, provides that retirement annuities shall be payable upon attainment of the required age of distribution under a specified provision of the Internal Revenue Code of 1986 (instead of age 70 1/2). In the State Universities Article, provides that if a participant is not an employee of an employer participating in the System or in a reciprocal system on April 1 of the calendar year next following the calendar year in which the participant attains the age specified under a provision of the Internal Revenue Code of 1986 (instead of the age of 70 1/2), the annuity payment period shall begin on that date. In a provision of the Downstate Teacher Article concerning the required distribution of monthly survivor benefits for certain persons, provides that the distribution shall become payable on certain dates or December 1 of the calendar year in which the deceased member or annuitant would have attained age 72 (instead of 70 1/2), whichever occurs latest. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions 
DateChamber Action
  1/29/2021SenateFiled with Secretary by Sen. Robert F. Martwick
  1/29/2021SenateFirst Reading
  1/29/2021SenateReferred to Assignments
  2/9/2021SenateAssigned to Pensions
  3/3/2021SenatePostponed - Pensions
  4/16/2021SenateRule 3-9(a) / Re-referred to Assignments

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