HB5684 Summary

• Applies to IMRF (Article 7 Illinois Pension Code) employees who began participation before January 1, 2011 and are not covered by collective bargaining agreements.

• Defines "disclosable payments" as wage increases over 6% or lump-sum payments made between 12 months and 90 days before an employee's retirement, excluding contributions required by law.

• Requires public employer governing bodies to hold open public meetings and disclose the employee's identity, payment amount and purpose, proposed retirement date, effect on retirement annuity, and impact on employer pension fund liability before making a disclosable payment.

• Amends the Open Meetings Act to prohibit closed sessions for meetings regarding compensation increases subject to the Local Government Wage Increase Transparency Act; such meetings must be open to the public.

• Restricts home rule powers of local governments regarding disclosable payments to IMRF employees.