SB 2107

Abstract

Amends the Illinois Municipal Retirement Fund (IMRF) and the Firefighters' Pension Investment Fund Articles of the Illinois Pension Code. Adds the Firefighters' Pension Investment Fund to the definition of "participating instrumentality". In the definition of "employee", adds an employee of the Firefighters' Pension Investment Fund if he or she elects to participate and excludes members of the Board of Trustees of the Firefighters' Pension Investment Fund in their capacity as members of the Board of Trustees of the Firefighters' Pension Investment Fund. Provides that the Firefighters' Pension Investment Fund shall pay the required employer contributions for personnel who participate in IMRF. Amends the State Mandates Act to require implementation without reimbursement. Senate Committee Amendment No. 1 Deletes reference to: 40 ILCS 5/22C-118 30 ILCS 805/8.45 new Adds reference to: 40 ILCS 5/7-132 from Ch. 108 1/2, par. 7-132 Replaces everything after the enacting clause. Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. Adds the Firefighters' Pension Investment Fund as a participating instrumentality. Excludes from the definition of "employee", members of the Board of Trustees of the Firefighters' Pension Investment Fund in their capacity as members of the Board of Trustees of the Firefighters' Pension Investment Fund. Senate Floor Amendment No. 2 Adds the Police Officers' Pension Investment Fund as a participating instrumentality. Excludes from the definition of "employee" members of the Board of Trustees of the Police Officers' Pension Investment Fund in their capacity as members of the Board of Trustees of the Police Officers' Pension Investment Fund. House Floor Amendment No. 1 Adds an immediate effective date.