SB 3786

  • Illinois Senate Bill
  • 103rd Regular Session
  • Introduced in Senate
  • Senate
  • House
  • Governor

Pen Cd-Imrf-Muni Contribution

Abstract

Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. In a provision requiring a participating municipality or participating instrumentality to pay an additional contribution to the Fund for certain earnings increases above 6% or 1.5 times the annual increase in the consumer price index-u, whichever is greater, provides that the payments must be concluded within 7 years (instead of 3 years) after receipt of the bill by the participating municipality or participating instrumentality. Effective immediately.

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Feb 09, 2024

Senate

Filed with Secretary by Sen. Michael W. Halpin

Senate

First Reading

Senate

Referred to Assignments

Bill Text

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