PEN CD-IMRF-CREDIT/INTEREST House SponsorsRep. Raymond Poe Senate Sponsors(Sen. Terry Link-Larry K. Bomke) 8/8/2011HousePublic Act . . . . . . . . . 97-0273 40 ILCS 5/7-209from Ch. 108 1/2, par. 7-20930 ILCS 805/8.35 new Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. Authorizes the board of trustees of the Illinois Municipal Retirement Fund to adopt rules specifying a separate interest rate that will apply to voluntary additional contributions made by employees. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.House Committee Amendment No. 1 Deletes reference to:40 ILCS 5/7-20930 ILCS 805/8.35 newAdds reference to:40 ILCS 5/3-110.840 ILCS 5/7-139.13Replaces everything after the enacting clause. Amends the Downstate Police and Illinois Municipal Retirement Fund (IMRF) Articles of the Illinois Pension Code. Provides that, for 60 days after the effective date of the amendatory Act, a person may transfer to IMRF up to 10 years of creditable service accumulated under a downstate police pension fund created under Article 3 of the Code. Provides that the creditable service shall be transferred upon payment by the police pension fund to IMRF of an amount equal to: (i) the amounts accumulated to the credit of the applicant on the books of the fund on the date of transfer; (ii) employer contributions in a specified amount; and (iii) any interest paid by the applicant in order to reinstate service. Provides that, until 60 days after the effective date of the amendatory Act, any active member of IMRF may reinstate all or any portion of his or her service that was terminated by receipt of a refund, by payment to the police pension fund of the amount of the refund with interest thereon at the actuarially assumed rate, compounded annually, from the date of refund to the date of payment. Effective immediately. 2/24/2011HouseFiled with the Clerk by Rep. Raymond Poe 2/24/2011HouseFirst Reading 2/24/2011HouseReferred to Rules Committee 2/28/2011HouseAssigned to Executive Committee 3/7/2011HouseRe-assigned to Personnel and Pensions Committee 3/10/2011HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Raymond Poe 3/10/2011HouseHouse Committee Amendment No. 1 Referred to Rules Committee 3/15/2011HouseHouse Committee Amendment No. 1 Rules Refers to Personnel and Pensions Committee 3/17/2011HouseHouse Committee Amendment No. 1 Adopted in Personnel and Pensions Committee; by Voice Vote 3/17/2011HouseDo Pass as Amended / Short Debate Personnel and Pensions Committee; 009-000-000 3/17/2011HousePlaced on Calendar 2nd Reading - Short Debate 3/30/2011HouseSecond Reading - Short Debate 3/30/2011HousePlaced on Calendar Order of 3rd Reading - Short Debate 3/31/2011HouseThird Reading - Short Debate - Passed 110-000-000 4/6/2011SenateArrive in Senate 4/6/2011SenatePlaced on Calendar Order of First Reading April 7, 2011 4/11/2011SenateChief Senate Sponsor Sen. Terry Link 4/12/2011SenateFirst Reading 4/12/2011SenateReferred to Assignments 4/13/2011SenateAdded as Alternate Chief Co-Sponsor Sen. Larry K. Bomke 4/27/2011SenateAssigned to Pensions and Investments 5/4/2011SenateDo Pass Pensions and Investments; 006-000-000 5/4/2011SenatePlaced on Calendar Order of 2nd Reading May 5, 2011 5/5/2011SenateSecond Reading 5/5/2011SenatePlaced on Calendar Order of 3rd Reading May 6, 2011 5/12/2011SenateThird Reading - Passed; 054-000-000 5/12/2011HousePassed Both Houses 6/10/2011HouseSent to the Governor 8/8/2011HouseGovernor Approved 8/8/2011HouseEffective Date August 8, 2011 8/8/2011HousePublic Act . . . . . . . . . 97-0273