PEN CD-IMRF-FORMULA INCREASE
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SB 2979 — PEN CD-IMRF-FORMULA INCREASE
Last action — Session Sine Die
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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2In Committee
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3Passed Senate
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4Passed House
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5To Executive
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6Enacted
This bill died with 93rd 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.
This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
Summary
Amends the IMRF Article of the Illinois Pension Code. Increases the regular retirement formula to 1.96% of final earnings for the first 15 years of service and 2.28% of final earnings for each additional year of service, for service earned on or after July 1, 2004. For service before that date, authorizes augmentation of the old retirement formula by payment of a specified contribution. Increases the normal employee contribution rate by 1.5% of earnings. Allows a person to retire without penalty at any age which, when added to the number of years of creditable service, equals at least 85. Changes the way the early retirement penalty is calculated. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Bill Text
- Introduced View text Current html
Action History
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Session Sine Die
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Referred to Rules
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First Reading
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Filed with Secretary by Sen. Lawrence M. Walsh
Sponsors
- Lawrence M. Walsh · Cosponsor
Sponsorship breakdown
Export CSV (upgrade) →0 sponsors · 1 co-sponsors · 182 not signed on
Sponsors (0)
None.
Co-sponsors (1)
- Lawrence M. Walsh
Not signed on (182)
182 members have not signed on to this bill.
Show all 182 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Subjects
Frequently asked questions
- What does SB 2979 do?
- Amends the IMRF Article of the Illinois Pension Code. Increases the regular retirement formula to 1.96% of final earnings for the first 15 years of service and 2.28% of final earnings for each additional year of service, for service earned on or after July 1, 2004. For service before that date, authorizes augmentation of the old retirement formula by payment of a specified contribution. Increases the normal employee contribution rate by 1.5% of earnings. Allows a person to retire without penalty at any age which, when added to the number of years of creditable service, equals at least 85. Changes the way the early retirement penalty is calculated. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
- Who sponsors SB 2979?
- SB 2979 is sponsored by Lawrence M. Walsh.
- What is the current status of SB 2979?
- This bill died with 93rd 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 2979?
- Track SB 2979 free on One Click Politics — get push/email alerts when it moves.
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Last checked for changes 3 months ago · updated continuously
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