SB 3391 — PEN CD-DNST POL&FIRE-VARIOUS

0 sponsors · 1 co-sponsors · 182 not signed on

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Frequently asked questions

What does SB 3391 do?

Amends the Regulation of Public Pension Funds and the Downstate Firefighter Articles of the Illinois Pension Code. Provides that the Public Pension Division of the Department of Insurance or the Consolidated Fund may examine or investigate any downstate police or downstate firefighter pension fund as often as the Division or the Consolidated Fund deems appropriate but shall, at a minimum, conduct an examination of every downstate police and downstate firefighter pension fund not less frequently than once every 7 years (instead of once every 3 years). Provides that a pension fund shall request a hearing within 30 days after the receipt of the final report of examination and shall submit payment for the hearing cost, which shall not exceed $600. Establishes a penalty for a pension fund that fails, without just cause, to submit requested examination documentation. In a provision establishing penalties for pension funds that fail to file certain statements, specifies that a pension fund shall comply with the notice of noncompliance within 15 days. Provides that the Director of Insurance may assess a civil penalty of up to $4,000 (instead of $2,000) for each noncompliance with an order of the Director. In a provision of the Downstate Firefighter Article concerning the calculation of retirement pensions and automatic annual increases for eligible firefighters who participated in more than one pension fund, removes language limiting application of the provision to Tier 1 retirement pension amounts and Tier 1 automatic annual increases. Makes other changes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Who sponsors SB 3391?

SB 3391 is sponsored by Laura Ellman (Democrat).

What is the current status of SB 3391?

This bill died with 101st Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

Where can I track SB 3391?

Track SB 3391 free on One Click Politics — get push/email alerts when it moves.