Senate Sponsors: DUDYCZ, CULLERTON AND MUNOZ. House Sponsors: MURPHY-HARRIS-MADIGAN,MJ-GRANBERG-SMITH,MICHAEL Short description: PEN CD-DOWNSTATE POL-FORMULA Synopsis of Bill as introduced: Amends the General Provisions Article of the Illinois Pension Code. Makes a technical change in the caption of a Section relating to investments. PENSION NOTE (Pension Laws Commission) SB 851 would not have a fiscal impact on any public pension fund or retirement system in the State of Ill. HOUSE AMENDMENT NO. 2. Deletes reference to: 40 ILCS 5/1-113 Adds reference to: 40 ILCS 5/3-105.2 new 40 ILCS 5/3-109.2 new 40 ILCS 5/3-109.3 new 40 ILCS 5/3-110 from Ch. 108 1/2, par. 3-110 40 ILCS 5/3-111 from Ch. 108 1/2, par. 3-111 40 ILCS 5/3-111.1 from Ch. 108 1/2, par. 3-111.1 40 ILCS 5/3-112 from Ch. 108 1/2, par. 3-112 40 ILCS 5/3-113.1 40 ILCS 5/3-114.1 from Ch. 108 1/2, par. 3-114.1 40 ILCS 5/3-114.2 from Ch. 108 1/2, par. 3-114.2 40 ILCS 5/3-114.3 from Ch. 108 1/2, par. 3-114.3 40 ILCS 5/3-114.6 40 ILCS 5/3-120 from Ch. 108 1/2, par. 3-120 40 ILCS 5/3-124.1 from Ch. 108 1/2, par. 3-124.1 40 ILCS 5/3-125.1 from Ch. 108 1/2, par. 3-125.1 40 ILCS 5/3-127 from Ch. 108 1/2, par. 3-127 30 ILCS 805/8.24 new Replaces everything. Amends the Downstate Police Article of the Illinois Pension Code. Increases the pension formula from 2% to 2.5% of salary for the 21st through 30th year of service. Allows police officers to obtain service credit for a period of up to 3 years spent on duty or nonduty disability; requires a return to service for an equivalent period and payment of employee contributions before retirement. Provides duty disability benefits for an officer who becomes disabled due to a duty-related stroke. Provides for calculation of the initial automatic annual increase in retirement pension on a monthly (rather than annual) basis. Raises certain disability pensions to the amount of the retirement pension that the police officer would be eligible to receive if he or she retired. Increases the employee contribution rate. Provides for the adoption of a self-managed retirement program for certain employees. Provides that the program must be qualified under the Internal Revenue Code of 1986. Includes provisions concerning participation in the program, contributions, and vesting. Also provides annual increases in duty disability benefits (including retroactive increases and a lump sum payment) for certain disabled officers who earn no income from gainful employment. Requires application within 30 days and imposes other requirements. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. Last action on Bill: PUBLIC ACT.............................. 91-0939 Last action date: 01-02-01 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status