95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB2778


 
Introduced 2/15/2008, by Sen. Dan Cronin
 
SYNOPSIS AS INTRODUCED:
 		














40 ILCS 5/4-134
  from Ch. 108 1/2, par. 4-134



30 ILCS 805/8.32 new










    Amends the Downstate Firefighter Article of the Illinois Pension Code. Requires the Board of Trustees of the Firefighters' Pension Fund to send a copy of the report on the condition of the pension fund to each active, retired, or disabled firefighter who is a member of the pension fund and to each deferred pensioner and beneficiary of the pension fund. Amends the State Mandates Act to require implementation without reimbursement.
















LRB095 16680 AMC 42711 b

















FISCAL NOTE ACT MAY APPLY


PENSION IMPACT NOTE ACT MAY APPLY


STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT
















 


 


A BILL FOR









 











SB2778

LRB095 16680 AMC 42711 b






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    AN ACT concerning public employee benefits.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:


 
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    Section 5. The Illinois Pension Code is amended  by changing 
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Section 4-134 as follows:
 



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    (40 ILCS 5/4-134)  (from Ch. 108 1/2, par. 4-134)


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    Sec. 4-134. Report for tax levy; copy to firefighters. The 
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board shall report to the city council
or board of trustees of 
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the municipality on the condition of the pension fund
at the 
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end of its most recently completed fiscal year.  The report 
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shall
be made prior to the council or board meeting held for 
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appropriating and
levying taxes for the year for which the 
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report is made.

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    The board in the report shall certify:


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        (1) the assets of the fund and their current market 
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    value;


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        (2) the estimated receipts during the next succeeding 
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    fiscal year from
deductions from the salaries or wages
of 
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    firefighters, and from all other sources;


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        (3) the estimated amount necessary during the fiscal 
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    year to meet the
annual actuarial requirements of the 
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    pension fund as
provided in Sections 4-118 and 4-120;


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        (4) the total net income received from investment of 
 


 






SB2778
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LRB095 16680 AMC 42711 b




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    assets, compared to
such income received during the 
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    preceding fiscal year; and
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        (5) the increase in employer pension contributions 
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    that results from the implementation of the provisions of 
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    this amendatory Act of the 93rd General Assembly.

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    Before the board makes its report, the municipality shall 
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have the assets
of the fund and
their current market value 
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verified by an independent certified public
accountant of its 
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choice.

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    The board must send a copy of the report to each active, 
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retired, or disabled firefighter who is a member of the pension 
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fund and to each deferred pensioner and beneficiary of the 
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pension fund. 
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(Source: P.A. 93-689, eff. 7-1-04.)

 
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    Section 90. The State Mandates Act is amended by adding 
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Section 8.32 as follows:
 
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    (30 ILCS 805/8.32 new)
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    Sec. 8.32. Exempt mandate. Notwithstanding Sections 6 and 8 
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of this Act, no reimbursement by the State is required for the 
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implementation of any mandate created by this amendatory Act of 
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the 95th General Assembly.