PEN CD-ART 9-REMOVE RESERVES
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HB 1702 — PEN CD-ART 9-REMOVE RESERVES
Last action — Session Sine Die
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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✓In Committee
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3Passed House
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4Passed Senate
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5To Executive
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6Enacted
This bill died with 95th Regular Session. It reached “Passed House” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 Cook County Article of the Illinois Pension Code. Deletes provisions concerning the expense reserve, county contribution reserve, employee's contribution reserve, annuity payment reserve, prior service annuity reserve, child's annuity reserve, duty disability reserve, ordinary disability reserve, gift reserve, investment and interest reserve, supplementary payment reserve, and optional contribution reserve. Makes corresponding changes. Provides that an adequate system of accounts and records shall be established to report the financial condition of the County Employees' and Officers' Annuity and Benefit Fund and that such additional data as is necessary for required calculations, actuarial valuations, and operation of the fund shall be maintained. Effective immediately.
Bill Text
What changed in the latest version
23 added · 49 removedPlain-language change summary
The recent amendment to HB 1702 removes a number of specific reserve provisions related to the Cook County Employee and Officer Annuity and Benefit Fund, streamlining its financial management. By focusing on maintaining adequate accounts and records instead of detailing particular reserves, these changes aim to simplify the oversight of the fund's finances. This matters because clearer financial reporting can lead to better management of the fund, which ultimately helps ensure that county employees receive their promised benefits more reliably.
*LRB09507885AMC28046b* HB1702 95THEngrossed GENERALLRB095 ASSEMBLY07885 StateAMC of28046 Illinoisb andAN 2008ACT HB1702concerning Introducedpublic 2/22/2007,employee bybenefits. Rep.
Robert S.
Molaro SYNOPSIS AS INTRODUCED:
See Index Amends the Cook County Article of the Illinois Pension Code.
Deletes provisions concerning the expense reserve, county contribution reserve, employee’s contribution reserve, annuity payment reserve, prior service annuity reserve, child’s annuity reserve, duty disability reserve, ordinary disability reserve, gift reserve, investment and interest reserve, supplementary payment reserve, and optional contribution reserve.
Makes corresponding changes.
Provides that an adequate system of accounts and records shall be established to report the financial condition of the County Employees’ and Officers’ Annuity and Benefit Fund and that such additional data as is necessary for required calculations, actuarial valuations, and operation of the fund shall be maintained.
Effective immediately.
LRB095 07885 AMC 28046 b FISCAL NOTE ACT PENSION IMPACT MAY APPLY NOTE ACT MAY APPLY A BILL FOR HB1702 LRB095 07885 AMC 28046 b AN ACT concerning public employee benefits.
(2) For service before the option is elected, an additional HB1702 Engrossed - 2 - LRB095 07885 AMC 28046 b contribution of 3% of the salary for the applicable period of service, plus interest at the effective rate from the date of service to the date of payment.
To the extent such elected county officer has made additional optional contributions with respect to only a portion of his years of service credit, his retirement annuity will first be determined in accordance with this Section to the extent such additional optional HB1702 Engrossed - 3 - LRB095 07885 AMC 28046 b contributions were made, and then in accordance with the remaining Sections of this Article to the extent of years of service credit with respect to which additional optional contributions were not made.
Optional HB1702 Engrossed - 4 - LRB095 07885 AMC 28046 b contributions shall be accounted for in a separate Elected County Officer Optional Contribution Reserve.
(a) An employee who retired or retires from service after December 31, 1959, having attained age 60 or more or, beginning January 1, 1991, having attained 30 or more years of creditable service, shall, in the month of January of the year following the year in which the first anniversary of retirement occurs, have his then fixed and payable monthly annuity increased by 1 1/2%, and such first fixed annuity as granted at retirement increased by a further 1 1/2% in January of each year HB1702 Engrossed - 5 - LRB095 07885 AMC 28046 b thereafter.
(b) Subsection (a) is not applicable to an employee retiring and receiving a term annuity, as defined in this Act, nor to any otherwise qualified employee who retires before he HB1702 Engrossed - 6 - LRB095 07885 AMC 28046 b makes employee contributions (at the 1/2 of 1% rate as provided in this Section) for this additional annuity for not less than the equivalent of one full year.
6-27-97.) HB1702 Engrossed - 7 - LRB095 07885 AMC 28046 b (40 ILCS 5/9-133.1) (from Ch.
Beginning January 1, 1998, these increases shall be at the rate of 3% of the current amount of the annuity, including any previous increases received under this Article, without regard to whether the annuitant is in HB1702 Engrossed - 8 - LRB095 07885 AMC 28046 b service on or after the effective date of this amendatory Act of 1997.
To defray the annual cost of such increases, the annual interest income of the Fund, accruing from investments held by the Fund, exclusive of gains or losses on sales or exchanges of assets during the year, over and above 4% a year, shall be used HB1702 Engrossed - 9 - LRB095 07885 AMC 28046 b to the extent necessary and available to finance the cost of such increases for the following year, and such amount shall be transferred as of the end of each year, beginning with the year 1969, to a Fund account designated as the Supplementary Payment Reserve from the Investment and Interest Reserve set forth in Sec.
In the event the total monies available in the Supplementary Payment Reserve from the preceding indicated HB1702 Engrossed - 10 - LRB095 07885 AMC 28046 b sources are insufficient to make the total payments to all persons entitled to such increases for the year, a proportionate amount computed as the ratio of the monies available to the total of the total payments for that year shall be paid to each person for that year.
An amount equal to the excess of such amounts over the amounts paid on any annuity or annuities or refund, without interest upon either of such amounts, shall be refunded to a beneficiary theretofore designated by the employee in writing, signed by him before an officer authorized to administer oaths, HB1702 Engrossed - 11 - LRB095 07885 AMC 28046 b and filed with the board before the employee’s death.
and provided further, (b) that if a reversionary annuity becomes payable as provided in Section 9-135 such refund shall not be paid HB1702 Engrossed - 12 - LRB095 07885 AMC 28046 b until the death of the reversionary annuitant, and the refund otherwise payable under this section shall then first further be reduced by the total amount of the reversionary annuity paid.
Beginning with the year 1972 and for each year thereafter the county shall levy a tax HB1702 Engrossed - 13 - LRB095 07885 AMC 28046 b annually at a rate on the dollar of the value, as equalized or assessed by the Department of Revenue of all taxable property within the county that will produce, when extended, not to exceed an amount equal to the total amount of contributions made by the employees to the fund in the calendar year 2 years prior to the year for which the annual applicable tax is levied multiplied by .8 for the years 1972 through 1976;
It is lawful to extend this tax in addition to the general county rate fixed by statute, without being authorized as additional by a vote of HB1702 Engrossed - 14 - LRB095 07885 AMC 28046 b the people of the county.
HB1702 Engrossed - 15 - LRB095 07885 AMC 28046 b If it is not possible or practicable for the county to make contributions for age and service annuity and widow’s annuity concurrently with the employee contributions made for such purposes, such county shall make such contributions as soon as possible and practicable thereafter with interest thereon at the effective rate until the time it shall be made.
(e) In lieu of establishing a manpower program reserve with respect to employees whose wages are funded as participants under the Comprehensive Employment and Training Act of 1973, as HB1702 Engrossed - 16 - LRB095 07885 AMC 28046 b authorized by subsection (d), the board may elect to establish a special County contribution rate for all such employees.
HB1702 Engrossed - 17 - LRB095 07885 AMC 28046 b (2) For service before the option is elected, an additional contribution of 3% of the salary for the applicable period of service, plus interest at the effective rate from the date of service to the date of payment.
However no additional benefits will be granted which produce a HB1702 Engrossed - 18 - LRB095 07885 AMC 28046 b total annuity greater than the applicable maximum established for that type of annuity in this Article, and additional benefits shall not apply to any benefit computed under Section 9-128.1.
(h) This plan of optional benefits and contributions shall not apply to any former county employee receiving an annuity HB1702 Engrossed - 19 - LRB095 07885 AMC 28046 b from the fund, who re-enters service as a County employee, unless he renders at least 3 years of additional service after the date of re-entry.
HB1702 Engrossed - 20 - LRB095 07885 AMC 28046 b 2.
Whenever the balance of the investment and interest reserve is not sufficient to permit a transfer from that reserve to any other reserve, the county HB1702 Engrossed - 21 - LRB095 07885 AMC 28046 b shall contribute sums sufficient to make possible such transfer;
Such HB1702 Engrossed - 22 - LRB095 07885 AMC 28046 b additional data as is necessary for required calculations, actuarial valuations, and operation of the fund shall be maintained.
HB1702 Engrossed - 23 - LRB095 07885 AMC 28046 b INDEX Statutes amended in order of appearance 40 ILCS 5/9-121.6 from Ch.
Action History
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Session Sine Die
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Added Co-Sponsor Rep. Greg Harris
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Added Co-Sponsor Rep. Franco Coladipietro
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Added Co-Sponsor Rep. Harry R. Ramey, Jr.
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Added Co-Sponsor Rep. Sandy Cole
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Added Co-Sponsor Rep. Rich Brauer
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Added Co-Sponsor Rep. Lou Lang
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Added Co-Sponsor Rep. Mary E. Flowers
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Added Co-Sponsor Rep. Raymond Poe
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Added Co-Sponsor Rep. James H. Meyer
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Added Co-Sponsor Rep. Karen A. Yarbrough
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Added Co-Sponsor Rep. Joseph M. Lyons
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Added Co-Sponsor Rep. Elizabeth Hernandez
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Added Co-Sponsor Rep. Dennis M. Reboletti
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Added Co-Sponsor Rep. Brent Hassert
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Added Co-Sponsor Rep. Renée Kosel
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Added Co-Sponsor Rep. Robert F. Flider
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Added Co-Sponsor Rep. Deborah L. Graham
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Added Co-Sponsor Rep. John A. Fritchey
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Added Co-Sponsor Rep. Monique D. Davis
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Added Co-Sponsor Rep. Harry Osterman
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Added Co-Sponsor Rep. Thomas Holbrook
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Added Co-Sponsor Rep. Robert W. Pritchard
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Added Co-Sponsor Rep. Milton Patterson
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Added Co-Sponsor Rep. Gary Hannig
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Added Co-Sponsor Rep. Jack McGuire
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Added Co-Sponsor Rep. Carolyn H. Krause
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Added Co-Sponsor Rep. Linda Chapa LaVia
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Added Co-Sponsor Rep. Daniel V. Beiser
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Added Co-Sponsor Rep. Timothy L. Schmitz
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Added Co-Sponsor Rep. Ruth Munson
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Rule 19(b) / Re-referred to Rules Committee
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Added Co-Sponsor Rep. Angelo Saviano
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Added Chief Co-Sponsor Rep. Mike Boland
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Added Chief Co-Sponsor Rep. Robert Rita
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Removed Co-Sponsor Rep. Linda Chapa LaVia
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Added Chief Co-Sponsor Rep. Michael P. McAuliffe
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Senate Floor Amendment No. 3 Motion to Concur Referred to Rules Committee
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Senate Floor Amendment No. 2 Motion to Concur Referred to Rules Committee
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Senate Floor Amendment No. 3 Motion Filed Concur Rep. Robert S. Molaro
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Senate Floor Amendment No. 2 Motion Filed Concur Rep. Robert S. Molaro
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Added Chief Co-Sponsor Rep. Mike Fortner
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Added Co-Sponsor Rep. Linda Chapa LaVia
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Placed on Calendar Order of Concurrence Senate Amendment(s) 2,3
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Arrived in House
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Senate Floor Amendment No. 4 Tabled Pursuant to Rule 5-4(a)
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Senate Committee Amendment No. 1 Tabled Pursuant to Rule 5-4(a)
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Third Reading - Passed; 042-014-000
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Added as Alternate Co-Sponsor Sen. A. J. Wilhelmi
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Added as Alternate Co-Sponsor Sen. Terry Link
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Added as Alternate Co-Sponsor Sen. Michael Bond
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Added as Alternate Co-Sponsor Sen. Dan Kotowski
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Added as Alternate Co-Sponsor Sen. Deanna Demuzio
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Placed on Calendar Order of 3rd Reading May 13, 2008
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Senate Floor Amendment No. 3 Adopted; Harmon
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Senate Floor Amendment No. 2 Adopted; Harmon
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Recalled to Second Reading
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Added as Alternate Co-Sponsor Sen. Linda Holmes
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Senate Floor Amendment No. 4 Referred to Rules
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Senate Floor Amendment No. 4 Filed with Secretary by Sen. Bill Brady
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Senate Floor Amendment No. 3 Recommend Do Adopt Pensions and Investments; 006-000-000
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Senate Floor Amendment No. 2 Recommend Do Adopt Pensions and Investments; 006-000-000
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Senate Floor Amendment No. 3 Rules Refers to Pensions and Investments
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Senate Floor Amendment No. 2 Rules Refers to Pensions and Investments
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Placed on Calendar Order of 3rd Reading May 8, 2008
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Second Reading
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Senate Floor Amendment No. 3 Referred to Rules
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Senate Floor Amendment No. 3 Filed with Secretary by Sen. Don Harmon
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Senate Floor Amendment No. 2 Referred to Rules
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Senate Floor Amendment No. 2 Filed with Secretary by Sen. Don Harmon
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Added as Alternate Co-Sponsor Sen. John J. Millner
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Added as Alternate Co-Sponsor Sen. Jacqueline Y. Collins
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Added as Alternate Co-Sponsor Sen. Kirk W. Dillard
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Added as Alternate Co-Sponsor Sen. M. Maggie Crotty
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Added as Alternate Co-Sponsor Sen. Michael Noland
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Placed on Calendar Order of 2nd Reading February 20, 2008
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Do Pass Pensions and Investments; 006-003-001
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Senate Committee Amendment No. 1 Held in Pensions and Investments
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Added as Alternate Chief Co-Sponsor Sen. Iris Y. Martinez
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Added as Alternate Chief Co-Sponsor Sen. James A. DeLeo
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Senate Committee Amendment No. 1 Rules Refers to Pensions and Investments
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Senate Committee Amendment No. 1 Referred to Rules
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Senate Committee Amendment No. 1 Filed with Secretary by Sen. Don Harmon
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Added as Alternate Chief Co-Sponsor Sen. Donne E. Trotter
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Alternate Chief Sponsor Changed to Sen. Don Harmon
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Added as Alternate Chief Co-Sponsor Sen. Mattie Hunter
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Re-referred to Pensions and Investments
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Rule 3-9(a) / Re-referred to Rules
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Postponed - Pensions and Investments
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Postponed - Pensions and Investments
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Assigned to Pensions and Investments
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Referred to Rules
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First Reading
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Chief Senate Sponsor Sen. Donne E. Trotter
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Placed on Calendar Order of First Reading March 30, 2007
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Arrive in Senate
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Third Reading - Short Debate - Passed 116-000-000
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Placed on Calendar Order of 3rd Reading - Short Debate
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Second Reading - Short Debate
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Placed on Calendar 2nd Reading - Short Debate
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Do Pass / Short Debate Personnel and Pensions Committee; 004-000-000
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Assigned to Personnel and Pensions Committee
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Referred to Rules Committee
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First Reading
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Filed with the Clerk by Rep. Robert S. Molaro
Sponsors
- Robert S. Molaro · Cosponsor
- Michael Noland · Cosponsor
- M. Maggie Crotty · Cosponsor
- Kirk W. Dillard · Cosponsor
- Jacqueline Y. Collins · Cosponsor
- John J. Millner · Cosponsor
- Linda Holmes · Cosponsor
- Deanna Demuzio · Cosponsor
- Dan Kotowski · Cosponsor
- Michael Bond · Cosponsor
- Terry Link · Cosponsor
- A. J. Wilhelmi · Cosponsor
Sponsorship breakdown
Export CSV (upgrade) →0 sponsors · 12 co-sponsors · 171 not signed on · 2 voted No
Sponsors (0)
None.
Co-sponsors (12)
- Robert S. Molaro
- Michael Noland
- M. Maggie Crotty
- Kirk W. Dillard
- Jacqueline Y. Collins
- John J. Millner
- Linda Holmes Democrat
- Deanna Demuzio
- Dan Kotowski
- Michael Bond
- Terry Link
- A. J. Wilhelmi
Not signed on (171)
171 members have not signed on to this bill.
Show all 171 →"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.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 34 | 12 | 0 | 3 |
| Democrat | 8 | 1 | 0 | 0 |
| Republican | 0 | 1 | 0 | 0 |
| Total | 42 | 14 | 0 | 3 |
| % of votes cast | 71% | 24% | 0% | 5% |
How each member voted (59)
| Member | Party | Vote |
|---|---|---|
| Halvorson | — | Yea |
| Link | — | Yea |
| Millner | — | Yea |
| Schoenberg | — | Yea |
| Silverstein | — | Yea |
| Steans | — | Yea |
| Sullivan | — | Yea |
| Clayborne | — | Yea |
| Dillard | — | Yea |
| Forby | — | Yea |
| Frerichs | — | Yea |
| Garrett | — | Yea |
| Haine | — | Yea |
| Hendon | — | Yea |
| Lauzen | — | Nay |
| Cullerton | — | Yea |
| Jacobs | — | Yea |
| Jones, J. | — | Yea |
| Demuzio | — | Yea |
| Brady | — | Nay |
| Noland | — | Yea |
| Watson | — | Nay |
| Pankau | — | Yea |
| Munoz | — | Not Voting |
| Peterson | — | Nay |
| Trotter | — | Yea |
| Viverito | — | Yea |
| Wilhelmi | — | Yea |
| Cronin | — | Yea |
| Crotty | — | Yea |
| Dahl | — | Nay |
| DeLeo | — | Yea |
| Hultgren | — | Nay |
| Kotowski | — | Yea |
| Radogno | — | Nay |
| Raoul | — | Yea |
| Righter | — | Nay |
| Risinger | — | Not Voting |
| Rutherford | — | Nay |
| Sandoval | — | Yea |
| Luechtefeld | — | Nay |
| Maloney | — | Yea |
| Althoff | — | Nay |
| Martinez | — | Yea |
| Bivins | — | Yea |
| Bomke | — | Yea |
| Bond | — | Yea |
| Burzynski | — | Nay |
| Meeks | — | Not Voting |
| David Koehler | Democrat | Yea |
| Don Harmon | Democrat | Yea |
| Emil Jones, III | Democrat | Yea |
| Eva-Dina Delgado | Democrat | Yea |
| Kimberly A. Lightford | Democrat | Yea |
| Lakesia Collins | Democrat | Yea |
| Laura M. Murphy | Democrat | Nay |
| Linda Holmes | Democrat | Yea |
| Mattie Hunter | Democrat | Yea |
| Dave Syverson | Republican | Nay |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Democrat | 9 | 0 | 0 | 0 |
| Unaffiliated | 103 | 0 | 0 | 2 |
| Republican | 4 | 0 | 0 | 0 |
| Total | 116 | 0 | 0 | 2 |
| % of votes cast | 98% | 0% | 0% | 2% |
How each member voted (118)
| Member | Party | Vote |
|---|---|---|
| Jefferies | — | Yea |
| Jefferson | — | Yea |
| Krause | — | Yea |
| Lang | — | Yea |
| Leitch | — | Yea |
| Lindner | — | Yea |
| Mathias | — | Yea |
| Mautino | — | Yea |
| May | — | Yea |
| McAuliffe | — | Yea |
| Reitz | — | Yea |
| McCarthy | — | Yea |
| Lyons | — | Yea |
| Mendoza | — | Yea |
| Meyer | — | Yea |
| Moffitt | — | Yea |
| Ramey | — | Yea |
| Schock | — | Yea |
| Scully | — | Yea |
| Sommer | — | Yea |
| Burke | — | Yea |
| Sullivan | — | Yea |
| Hannig | — | Yea |
| Harris | — | Yea |
| Molaro | — | Yea |
| Mulligan | — | Yea |
| Hernandez | — | Yea |
| Munson | — | Yea |
| Myers | — | Yea |
| Nekritz | — | Yea |
| Osmond | — | Yea |
| Patterson | — | Not Voting |
| Watson | — | Yea |
| Howard | — | Yea |
| Phelps | — | Yea |
| Davis, Monique | — | Yea |
| Tryon | — | Yea |
| Turner | — | Yea |
| Verschoore | — | Yea |
| Wait | — | Yea |
| Washington | — | Yea |
| Winters | — | Yea |
| Yarbrough | — | Yea |
| Younge | — | Yea |
| Coladipietro | — | Yea |
| Cole | — | Yea |
| Cross | — | Yea |
| Cultra | — | Yea |
| Currie | — | Yea |
| D'Amico | — | Yea |
| Durkin | — | Not Voting |
| Granberg | — | Yea |
| Hamos | — | Yea |
| Hassert | — | Yea |
| Holbrook | — | Yea |
| Jakobsson | — | Yea |
| Kosel | — | Yea |
| McGuire | — | Yea |
| Bradley, John | — | Yea |
| Bradley, Richard | — | Yea |
| Brady | — | Yea |
| Mitchell, Bill | — | Yea |
| Mitchell, Jerry | — | Yea |
| Dugan | — | Yea |
| Dunkin | — | Yea |
| Dunn | — | Yea |
| Eddy | — | Yea |
| Flider | — | Yea |
| Flowers | — | Yea |
| Fortner | — | Yea |
| Franks | — | Yea |
| Fritchey | — | Yea |
| Froehlich | — | Yea |
| Golar | — | Yea |
| Gordon | — | Yea |
| Graham | — | Yea |
| Osterman | — | Yea |
| Pihos | — | Yea |
| Poe | — | Yea |
| Pritchard | — | Yea |
| Reboletti | — | Yea |
| Reis | — | Yea |
| Riley | — | Yea |
| Ryg | — | Yea |
| Sacia | — | Yea |
| Saviano | — | Yea |
| Schmitz | — | Yea |
| Soto | — | Yea |
| Madigan | — | Yea |
| Acevedo | — | Yea |
| Arroyo | — | Yea |
| Bassi | — | Yea |
| Beaubien | — | Yea |
| Beiser | — | Yea |
| Bellock | — | Yea |
| Berrios | — | Yea |
| Biggins | — | Yea |
| Black | — | Yea |
| Boland | — | Yea |
| Bost | — | Yea |
| Brauer | — | Yea |
| Brosnahan | — | Yea |
| Colvin | — | Yea |
| Coulson | — | Yea |
| Chapa LaVia | — | Yea |
| Fred Crespo | Democrat | Yea |
| Jay Hoffman | Democrat | Yea |
| La Shawn K. Ford | Democrat | Yea |
| Lakesia Collins | Democrat | Yea |
| Nicholas K. Smith | Democrat | Yea |
| Patrick J. Joyce | Democrat | Yea |
| Robert "Bob" Rita | Democrat | Yea |
| Sara Feigenholtz | Democrat | Yea |
| William "Will" Davis | Democrat | Yea |
| Brad Stephens | Republican | Yea |
| Chapin Rose | Republican | Yea |
| Chris Miller | Republican | Yea |
| Jil Tracy | Republican | Yea |
Subjects
Frequently asked questions
- What does HB 1702 do?
- Amends the Cook County Article of the Illinois Pension Code. Deletes provisions concerning the expense reserve, county contribution reserve, employee's contribution reserve, annuity payment reserve, prior service annuity reserve, child's annuity reserve, duty disability reserve, ordinary disability reserve, gift reserve, investment and interest reserve, supplementary payment reserve, and optional contribution reserve. Makes corresponding changes. Provides that an adequate system of accounts and records shall be established to report the financial condition of the County Employees' and Officers' Annuity and Benefit Fund and that such additional data as is necessary for required calculations, actuarial valuations, and operation of the fund shall be maintained. Effective immediately.
- Who sponsors HB 1702?
- HB 1702 is sponsored by Robert S. Molaro, Michael Noland, M. Maggie Crotty, Kirk W. Dillard, Jacqueline Y. Collins, John J. Millner, Linda Holmes (Democrat), Deanna Demuzio, Dan Kotowski, Michael Bond, Terry Link, and A. J. Wilhelmi.
- What is the current status of HB 1702?
- This bill died with 95th Regular Session. It reached “Passed House” 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 HB 1702?
- Track HB 1702 free on One Click Politics — get push/email alerts when it moves.
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