HB3857 Summary

• Amends the Illinois Pension Code to restrict creditable service for periods of service with labor organizations, requiring that employee and employer contributions be received by the fund before the effective date of this act (97th General Assembly).

• Applies the contribution deadline requirement to multiple pension articles covering police officers, firefighters, municipal employees, and teachers who served with labor organizations.

• Restricts participation of the Illinois Municipal League and Will County Governmental League to service on or before the effective date of this act.

• Requires Financial Oversight Panels established under Article 1H of the School Code to be included as participating instrumentalities in the Illinois Municipal Retirement Fund.

• Takes effect immediately upon becoming law.