SB 610

  • Illinois Senate Bill
  • 95th Regular Session
  • Introduced in Senate
  • Senate
  • House
  • Governor

Pen Cd-Imrf-Formula Increase

Abstract

Amends the IMRF Article of the Illinois Pension Code. Provides that, by filing a resolution or ordinance with the Fund, an employer may increase the regular retirement formula to 2.25% of final earnings for the first 15 years of service and 2.5% of final earnings for each additional year of service, for service earned on or after the filing of the resolution or ordinance. For service earned before the filing of the resolution or ordinance, authorizes augmentation of the old retirement formula by payment of a specified contribution. Increases the normal employee contribution rate for employees of an employer that files a resolution or ordinance to increase the regular retirement formula. Effective immediately.

Bill Sponsors (1)

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Jan 13, 2009

Senate

Session Sine Die

Mar 16, 2007

Senate

Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Rules

Senate

Rule 3-9(a) / Re-referred to Rules

Senate

Senate Committee Amendment No. 4 Rule 3-9(a) / Re-referred to Rules

Mar 14, 2007

Senate

Postponed - Pensions and Investments

Mar 13, 2007

Senate

Senate Committee Amendment No. 4 Rules Refers to Pensions and Investments

Senate

Senate Committee Amendment No. 4 Referred to Rules

Senate

Senate Committee Amendment No. 4 Filed with Secretary by Sen. A. J. Wilhelmi

Mar 12, 2007

Senate

Senate Committee Amendment No. 3 Referred to Rules

Senate

Senate Committee Amendment No. 3 Filed with Secretary by Sen. A. J. Wilhelmi

Mar 09, 2007

Senate

Senate Committee Amendment No. 2 Referred to Rules

Senate

Senate Committee Amendment No. 2 Filed with Secretary by Sen. A. J. Wilhelmi

Mar 07, 2007

Senate

Postponed - Pensions and Investments

Mar 06, 2007

Senate

Senate Committee Amendment No. 1 Postponed - Pensions and Investments

Senate

Senate Committee Amendment No. 1 Rules Refers to Pensions and Investments

Mar 02, 2007

Senate

Senate Committee Amendment No. 1 Referred to Rules

Senate

Senate Committee Amendment No. 1 Filed with Secretary by Sen. A. J. Wilhelmi

Feb 21, 2007

Senate

Assigned to Pensions and Investments

Feb 08, 2007

Senate

First Reading

Senate

Referred to Rules

Senate

Filed with Secretary by Sen. A. J. Wilhelmi

Bill Text

Bill Text Versions Format
Introduced HTML

Related Documents

Document Format
Senate Amendment 004
Senate Amendment 003
Senate Amendment 002
Senate Amendment 001

Sources

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