IL HB2916

Reduces the delinquency period for pension fund contributions from 90 days to 60 days before the Fund can certify unpaid amounts to the State Comptroller for deduction from state grants to municipalities and instrumentalities.

Authorizes the Fund to pursue recovery through circuit court if state funds are unavailable for deduction, and allows county treasurers to remit tax levy collections directly to the Fund for delinquent municipalities.

Requires municipalities and instrumentalities to make audit records available to the Fund for computation of delinquent payments, with audit costs added to the amount recovered.

Establishes reporting requirements for Public Safety Employee Benefits Act (PSEBA) recipients and employers to file biennial forms with the Commission on Government Forecasting and Accountability (COGFA) beginning in 2016.

Changes COGFA reporting schedule to odd-numbered years starting in 2017, and requires PSEBA recipients to reimburse employers for premium payments if they fail to timely submit required reporting forms.