PEN CD-IMRF-AMORTIZATION House SponsorsRep. Michael J. Zalewski, Raymond Poe, Daniel J. Burke, William Davis, Derrick Smith, Elaine Nekritz, Robert Rita and Elizabeth Hernandez Senate Sponsors(Sen. Iris Y. Martinez) 8/9/2013HousePublic Act . . . . . . . . . 98-0218 40 ILCS 5/7-135from Ch. 108 1/2, par. 7-13540 ILCS 5/7-146from Ch. 108 1/2, par. 7-14640 ILCS 5/7-172from Ch. 108 1/2, par. 7-17240 ILCS 5/7-173from Ch. 108 1/2, par. 7-17340 ILCS 5/7-177from Ch. 108 1/2, par. 7-17730 ILCS 805/8.37 new Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. Provides that the Board shall determine the amortization period to be used in calculating the amount to be contributed by participating municipalities and participating instrumentalities in order to adjust for changes in the Fund's unfunded accrued liabilities. Specifies that the amortization period shall not exceed 30 years for participating municipalities or 10 years for participating instrumentalities. Allows participating employees to withdraw additional contributions only to the extent permitted by the federal Internal Revenue Code of 1986. Requires the Board to meet at least quarterly (rather than monthly). Also makes technical changes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. 2/6/2013HouseFiled with the Clerk by Rep. Michael J. Zalewski 2/13/2013HouseFirst Reading 2/13/2013HouseReferred to Rules Committee 2/19/2013HouseAssigned to Personnel and Pensions Committee 2/28/2013HouseAdded Co-Sponsor Rep. Raymond Poe 2/28/2013HouseAdded Co-Sponsor Rep. Daniel J. Burke 2/28/2013HouseDo Pass / Short Debate Personnel and Pensions Committee; 009-000-000 3/1/2013HousePlaced on Calendar 2nd Reading - Short Debate 3/1/2013HouseAdded Co-Sponsor Rep. William Davis 3/4/2013HouseAdded Co-Sponsor Rep. Derrick Smith 3/4/2013HouseAdded Co-Sponsor Rep. Elaine Nekritz 3/6/2013HouseSecond Reading - Short Debate 3/6/2013HousePlaced on Calendar Order of 3rd Reading - Short Debate 3/6/2013HouseAdded Co-Sponsor Rep. Robert Rita 3/6/2013HouseAdded Co-Sponsor Rep. Elizabeth Hernandez 3/8/2013HouseThird Reading - Short Debate - Passed 115-000-000 3/8/2013SenateArrive in Senate 3/8/2013SenatePlaced on Calendar Order of First Reading March 12, 2013 3/12/2013SenateChief Senate Sponsor Sen. Iris Y. Martinez 3/12/2013SenateFirst Reading 3/12/2013SenateReferred to Assignments 4/16/2013SenateAssigned to Licensed Activities and Pensions 5/1/2013SenateDo Pass Licensed Activities and Pensions; 009-000-000 5/1/2013SenatePlaced on Calendar Order of 2nd Reading May 2, 2013 5/7/2013SenateSecond Reading 5/7/2013SenatePlaced on Calendar Order of 3rd Reading May 8, 2013 5/14/2013SenateThird Reading - Passed; 053-000-000 5/14/2013HousePassed Both Houses 6/12/2013HouseSent to the Governor 8/9/2013HouseGovernor Approved 8/9/2013HouseEffective Date August 9, 2013 8/9/2013HousePublic Act . . . . . . . . . 98-0218