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IL SB1635

Bill

Official Source

Status

Failed

1/13/2015

Primary Sponsor

John Mulroe

Click for details

Origin

Senate

98th General Assembly

AI Summary

  • Adds Section 6-230 to the Illinois Pension Code establishing non-forfeitability protections for pension fund participants upon termination of a fund or discontinuance of contributions
  • Guarantees that participant rights to accrued benefits as of the termination or discontinuance date are non-forfeitable to the extent the fund is then funded
  • Amends the State Mandates Act to exempt this pension code amendment from state reimbursement requirements for implementation
  • Applies to the Chicago Fire pension fund contribution structure

Legislative Description

PEN CD-CHGO FIRE-CITY CONTRIBS

Last Action

Session Sine Die

1/13/2015

Committee Referrals

Assignments4/19/2013
Executive Special Issues Subcommittee2/28/2013
Executive2/27/2013
Assignments2/13/2013

Full Bill Text

No bill text available