HB 3643

Abstract

Amends the General Assembly Compensation Act. Provides for the suspension of the payment of salary and all other financial remuneration provided under the Act to members of the General Assembly for legislative service until such time as the State Actuary files a written determination with the Index Division of the Office of the Secretary of State stating that a bill has been enacted that will reduce the unfunded accrued liabilities of the State-funded retirement systems, excluding the Judges Retirement System of Illinois, by an amount not less than the reduction in unfunded liabilities estimated by the Commission on Government Forecasting and Accountability to be achieved by Senate Bill No. 1 of the 98th General Assembly, as amended by House Committee Amendment No. 1 and House Floor Amendment No. 3. Effective July 1, 2013.