Full Text of HB1701 95th General Assembly
HB1701 95TH GENERAL ASSEMBLY
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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008 HB1701
Introduced 2/22/2007, by Rep. Robert S. Molaro SYNOPSIS AS INTRODUCED: |
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40 ILCS 5/12-135.3 |
from Ch. 108 1/2, par. 12-135.3 |
40 ILCS 5/12-149 |
from Ch. 108 1/2, par. 12-149 |
30 ILCS 805/8.31 new |
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Amends the Chicago Park District Article of the Illinois Pension Code. Provides that the surviving spouse's annuity for a surviving spouse of a person first employed under the Article on or after the effective date shall be subject to an annual increase at a rate of 3% of the original fixed annuity. (instead of 3% of the amount of annuity then payable). Provides that the board of park commissioners of any such park district shall levy a tax annually upon all taxable property in the district at
a rate that will produce a sum that will be sufficient to bring the total assets of the Park Employees' and Retirement Board Employees' Annuity and Benefit Fund up to 90% of the total actuarial liabilities of the Fund by the end of fiscal year 2016 (instead of a sum that will be sufficient for the purposes of the Article, with a maximum provided). Amends the State Mandates Act to require implementation without reimbursement.
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FISCAL NOTE ACT MAY APPLY |
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
PENSION IMPACT NOTE ACT MAY APPLY |
| STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT MAY APPLY
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A BILL FOR
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HB1701 |
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LRB095 10138 AMC 30352 b |
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| AN ACT concerning public employee benefits.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Illinois Pension Code is amended by changing | 5 |
| Sections 12-135.3 and 12-149 as follows:
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| (40 ILCS 5/12-135.3) (from Ch. 108 1/2, par. 12-135.3)
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| Sec. 12-135.3. Annual increases to surviving spouses. On | 8 |
| January
1 of each year, every surviving spouse, other than a | 9 |
| surviving spouse who
is receiving a temporary annuity or who | 10 |
| has received a surviving spouse
annuity for less than one full | 11 |
| year, shall be entitled to a 3% annual
increase in his or her | 12 |
| surviving spouse's annuity. The 3% annual increase
shall be | 13 |
| based on the amount of annuity then payable, including any
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| increases previously received under this Section.
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| Notwithstanding the provisions of this Section, the | 16 |
| surviving spouse's annuity for a surviving spouse of a person | 17 |
| first employed under this Article on or after the effective | 18 |
| date of this amendatory Act of the 95th General Assembly shall | 19 |
| be subject to an annual increase at a rate of 3% of the | 20 |
| original fixed annuity.
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| (Source: P.A. 87-1265.)
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| (40 ILCS 5/12-149)
(from Ch. 108 1/2, par. 12-149)
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HB1701 |
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LRB095 10138 AMC 30352 b |
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| Sec. 12-149. Financing. The board of park commissioners of | 2 |
| any such
park district shall annually levy a tax (in addition | 3 |
| to the taxes now
authorized by law) upon all taxable property | 4 |
| embraced in the district,
at the rate which, when added to the | 5 |
| employee contributions under this
Article and applied to the | 6 |
| fund created
hereunder, shall be sufficient to bring the total | 7 |
| assets of the Fund up to 90% of the total actuarial liabilities | 8 |
| of the Fund by the end of fiscal year 2016.
to provide for the | 9 |
| purposes of this
Article in accordance with the provisions | 10 |
| thereof. Such tax shall be
levied and collected with and in | 11 |
| like manner as the general taxes of
such district, and shall | 12 |
| not in any event be included within any
limitations of rate for | 13 |
| general park purposes as now or hereafter
provided by law, but | 14 |
| shall be excluded therefrom and be in addition
thereto. The | 15 |
| amount of such annual tax to and including the year 1977
shall | 16 |
| not exceed .0275% of the value, as equalized or assessed by the
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| Department of Revenue, of all taxable property embraced
within | 18 |
| the park district, provided that for the year 1978, and for | 19 |
| each
year thereafter, the amount of such annual tax shall be at | 20 |
| a rate on the
dollar of assessed valuation of all taxable | 21 |
| property that will produce,
when extended, for the year 1978 | 22 |
| the following sum: 0.825 times the
amount of employee | 23 |
| contributions during the fiscal year 1976; for the
year 1979, | 24 |
| 0.85 times the amount of employee contributions during the
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| fiscal year 1977; for the year 1980, 0.90 times the amount of | 26 |
| employee
contributions during the fiscal year 1978; for the |
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HB1701 |
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LRB095 10138 AMC 30352 b |
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| year 1981, 0.95 times
the amount of employee contributions | 2 |
| during the fiscal year 1979; for the year
1982, 1.00 times the | 3 |
| amount of employee contributions during the fiscal year
1980; | 4 |
| for the year 1983, 1.05 times the amount of contributions made | 5 |
| on behalf
of employees during the fiscal year 1981; and for the | 6 |
| year 1984 and each year
thereafter, an amount equal to 1.10 | 7 |
| times the employee contributions during the
fiscal year 2-years | 8 |
| prior to the year for which the applicable tax is levied.
As | 9 |
| used in this Section, the term "employee contributions" means | 10 |
| contributions
by employees for retirement annuity, spouse's | 11 |
| annuity, automatic increase in
retirement annuity, and death | 12 |
| benefit.
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| In respect to park district employees, other than | 14 |
| policemen, who are
transferred to the employment of a city by | 15 |
| virtue of the "Exchange of
Functions Act of 1957", the | 16 |
| corporate authorities of the city shall
annually levy a tax | 17 |
| upon all taxable property embraced in the city, as
equalized or | 18 |
| assessed by the Department of Revenue, at such rate per
cent of | 19 |
| the value of such property as shall be sufficient, when added
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| to the amounts deducted from the salary or wages of such | 21 |
| employees, to
provide the benefits to which such employees, | 22 |
| their dependents and
beneficiaries are entitled under the | 23 |
| provisions of this Article. The
park district shall not levy a | 24 |
| tax hereunder in respect to such
employees. The tax levied by | 25 |
| the city under authority of this Article
shall be in addition | 26 |
| to and exclusive of all other taxes authorized by
law to be |
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HB1701 |
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LRB095 10138 AMC 30352 b |
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| levied by the city for corporate, annuity fund or other
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| purposes.
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| All moneys accruing from the levy and collection of taxes, | 4 |
| pursuant
to this section, shall be remitted to the board by the | 5 |
| employers as soon
as they are received. Where a city has levied | 6 |
| a tax pursuant to this
Section in respect to park district | 7 |
| employees transferred to the
employment of a city, the | 8 |
| treasurer of such city or other authorized
officer shall remit | 9 |
| the moneys accruing from the levy and collection of
such tax as | 10 |
| soon as they are received. Such remittances shall be made
upon | 11 |
| a pro rata share basis, whereby each employer shall pay to the
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| board such employer's proportionate percentage of each payment | 13 |
| of taxes
received by it, according to the ratio which its tax | 14 |
| levy for this fund
bears to the total tax levy of such | 15 |
| employer.
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| Should any board of park commissioners included under the | 17 |
| provisions
of this Article be without authority to levy the tax | 18 |
| provided in this
Section the corporation authorities (meaning | 19 |
| the supervisor, clerk and
assessor) of the town or towns for | 20 |
| which such board shall be the board
of park commissioners shall | 21 |
| levy such tax.
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| Employer contributions to the Fund may be reduced by | 23 |
| $5,000,000 for
calendar years 2004 and 2005.
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| (Source: P.A. 93-654, eff. 1-16-04.)
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| Section 90. The State Mandates Act is amended by adding |
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LRB095 10138 AMC 30352 b |
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| Section 8.31 as follows: | 2 |
| (30 ILCS 805/8.31 new) | 3 |
| Sec. 8.31. Exempt mandate. Notwithstanding Sections 6 and 8 | 4 |
| of this Act, no reimbursement by the State is required for the | 5 |
| implementation of any mandate created by this amendatory Act of | 6 |
| the 95th General Assembly.
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