Date	Chamber	Action
1/11/2005	House	Session Sine Die

Statutes Amended In Order of Appearance

40 ILCS 5/7-132

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

Synopsis As Introduced
Amends the Illinois Municipal Retirement Fund Article of the Illinois Pension Code to authorize participation by employees of the United Counties Council of Illinois. Effective immediately.

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 United Counties Council of Illinois would be required to make annual contributions 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 United Counties Council of Illinois is unknown. Allowing the United Counties Council of Illinois into IMRF would not affect the accrued liability or annual cost of any other IMRF employer.

Actions 

Date	Chamber	Action
2/21/2003	House	Filed with the Clerk by Rep. Michael K. Smith
2/21/2003	House	First Reading
2/21/2003	House	Referred to Rules Committee
2/26/2003	House	Assigned to Executive Committee
2/28/2003	House	Pension Note Filed
3/13/2003	House	Rule 19(a) / Re-referred to Rules Committee
1/11/2005	House	Session Sine Die

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