SB 3623

  • Illinois Senate Bill
  • 102nd Regular Session
  • Introduced in Senate
  • Senate
  • House
  • Governor

Pencd-Dwnst Pol&Fire-Financing

Abstract

Amends the Downstate Police and Downstate Firefighter Articles of the Illinois Pension Code. Provides that the annual employer contribution shall include an amount sufficient to bring the total assets of the pension fund up to 90% of the total actuarial liabilities of the pension fund by the end of municipal fiscal year 2050 (instead of 2040). Makes a conforming change. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Bill Sponsors (1)

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Jan 10, 2023

Senate

Session Sine Die

Jan 19, 2022

Senate

Filed with Secretary by Sen. Donald P. DeWitte

Senate

First Reading

Senate

Referred to Assignments

Bill Text

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Introduced HTML PDF

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