PENCD-LOCAL CONTRL OF BENEFITS Senate SponsorsSen. Dan McConchie 1/13/2021SenateSession Sine Die 40 ILCS 5/7-101.5 newAmends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. Authorizes the governing body of a municipality or instrumentality to provide an alternative retirement plan in lieu of or in addition to the existing plan under the Article. Provides that the alternative retirement plan may include a defined-benefit component, a defined contribution component, or both, and may include disability or survivor benefits and any other benefits that are permitted under federal law. Provides that the alternative retirement plan is not required to provide any minimum level of benefits and need not provide any benefits at all, other than mandatory Social Security coverage if applicable. Provides that service credit received under an alternative retirement plan may not be transferred to any other fund and may not be used under the Retirement Systems Reciprocal Act (Article 20 of the Code). 2/15/2019SenateFiled with Secretary by Sen. Dan McConchie 2/15/2019SenateFirst Reading 2/15/2019SenateReferred to Assignments 2/27/2019SenateAssigned to Executive 3/6/2019SenateTo Subcommittee on Election Law 3/22/2019SenateRule 2-10 Committee Deadline Established As March 28, 2019 3/28/2019SenateRule 3-9(a) / Re-referred to Assignments 1/13/2021SenateSession Sine Die