92nd General Assembly
Status of SB0181
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 Full Text  Bill Summary

   40 ILCS 5/7-132           from Ch. 108 1/2, par. 7-132                      

        Amends the Illinois Municipal Retirement Fund (IMRF)  Article  of      
   the  Illinois  Pension  Code to authorize participation in the Fund by      
   employees  of  the  Kaskaskia  Regional  Port   District.    Effective      
          PENSION NOTE (Pension Laws Commission)                               
          Employees of employers joining IMRF receive credit (without          
          making contributions) for 5 years or 20% of service with the         
          employer, whichever is less. Upon joining IMRF, the Kaskaskia        
          Regional Port District would be required to make annual con-         
          tributions to amortize the unfunded liability (over 10 years)        
          created by employees' past service credit. The resulting             
          increase in unfunded liability and associated annual costs           
          cannot be determined, as the amount of outstanding service that      
          would be granted to current employees of the Kaskaskia Regional      
          Port District is unknown. Allowing the Kaskaskia Regional Port       
          District into IMRF would not affect the accrued liability or         
          annual cost of any other IMRF employer.                              
   FEB-20-2001  S  FIRST READING                                                  
   FEB-20-2001  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   FEB-21-2001  S       ASSIGNED TO COMMITTEE               INS & PENS.           
   FEB-27-2001  S                        PENSION NOTE FILED                       
   MAR-06-2001  S                                 POSTPONED                       
   MAR-20-2001  S                                 POSTPONED                       
   MAR-27-2001  S                                 POSTPONED                       
   MAR-27-2001  S                   COMMITTEE               INS & PENS.           
   MAR-31-2001  S  RE-REFERRED TO RULES COMM/RULE 3-9(A)    RULES                 
   JAN-07-2003  S  SESSION SINE DIE                                               


 Full Text  Bill Summary