HB 5843

  • Illinois House Bill
  • 103rd Regular Session
  • Introduced in House
  • House
  • Senate
  • 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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May 14, 2024

House

First Reading

House

Referred to Rules Committee

May 13, 2024

House

Filed with the Clerk by Rep. Laura Faver Dias

Bill Text

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