PEN CD-SELF-MANAGED PLANS House SponsorsRep. Mike Fortner-Linda Chapa LaVia-Dennis M. Reboletti-Sandra M. Pihos-Michael W. Tryon, David Harris, Ron Sandack, David R. Leitch, Robert W. Pritchard, Joe Sosnowski and Raymond Poe 12/3/2014HouseSession Sine Die 30 ILCS 122/2030 ILCS 122/2540 ILCS 5/2-103.1 new40 ILCS 5/2-103.2 new40 ILCS 5/2-108.2 new40 ILCS 5/2-124from Ch. 108 1/2, par. 2-12440 ILCS 5/2-126from Ch. 108 1/2, par. 2-12640 ILCS 5/2-126.2 new40 ILCS 5/2-134.1 new40 ILCS 5/14-103.10from Ch. 108 1/2, par. 14-103.1040 ILCS 5/14-103.12a new40 ILCS 5/14-103.40 new40 ILCS 5/14-103.41 new40 ILCS 5/14-13140 ILCS 5/14-133from Ch. 108 1/2, par. 14-13340 ILCS 5/14-133.2 new40 ILCS 5/14-135.08a new40 ILCS 5/15-111from Ch. 108 1/2, par. 15-11140 ILCS 5/15-112.1 new40 ILCS 5/15-155from Ch. 108 1/2, par. 15-15540 ILCS 5/15-157from Ch. 108 1/2, par. 15-15740 ILCS 5/15-158.240 ILCS 5/15-165.1 new40 ILCS 5/16-121from Ch. 108 1/2, par. 16-12140 ILCS 5/16-121.1 new40 ILCS 5/16-122.2 new40 ILCS 5/16-122.3 new40 ILCS 5/16-152from Ch. 108 1/2, par. 16-15240 ILCS 5/16-158from Ch. 108 1/2, par. 16-15840 ILCS 5/16-158.2 new40 ILCS 5/16-181.4 new40 ILCS 5/18-111.1 new40 ILCS 5/18-118.1 new40 ILCS 5/18-118.2 new40 ILCS 5/18-131from Ch. 108 1/2, par. 18-13140 ILCS 5/18-133from Ch. 108 1/2, par. 18-13340 ILCS 5/18-133.2 new40 ILCS 5/18-140.1 new30 ILCS 805/8.37 new Amends the Budget Stabilization Act. Makes changes concerning transfers from the General Revenue Fund to the Pension Stabilization Fund. Amends the General Assembly, State Employees, State Universities, Downstate Teachers, and Judges Articles of the Illinois Pension Code. Requires each State-funded retirement system that does not already have a self-managed plan to establish and maintain one. Authorizes participants to irrevocably elect to participate in such a plan. Provides that, for the purpose of calculating traditional benefit package benefits and contributions, the annual salary of a participant may not, except under certain circumstances, exceed certain limits. Requires participation in the self-managed plan to the extent that a participant's salary exceeds the salary cap. Revises the schedule of contributions for participants. Shifts a portion of the employer contributions for downstate teachers and university employees from the State to the actual employer. Authorizes the boards of trustees of each of these retirement systems to triennially recalculate the normal cost of benefit plans that they offer. Defines "traditional benefit package" and "self-managed plan". Changes the formula for calculating the minimum required State contribution to these systems. Provides that the State is contractually obligated to pay the annual required State contribution to these retirement systems. Contains provisions requiring these retirement systems to bring a mandamus action to compel payment of the required State contribution. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.Pension Note (Government Forecasting & Accountability) HB 2365 is substantially similar to HB 6204, also proposed by Rep. Fortner, from the 97th GA. The Commission's actuary produced a cost estimate detailing the effects of the implementation of a Self-Managed Plan within the State Employees Retirement System and the effects of changing the employee contribution rates across all Systems. CGFA's actuary assumed 10% of SERS's members would opt-into the Self-Managed Plan and found that the State's contribution would be reduced by $102 million, or 2.41% of payroll. Additionally, he found that the accrued liabilities for SERS would be reduced by $1.16 billion, the majority of which can be attributed to active members transferring into the Self-Managed Plan. A revised cost study would be required to determine the effect of implementing an identical Self-Managed Plan, as well as the adjusted employee contribution rates within GARS, SURS, TRS, and JRS. An additional cost study would also be required to determine the effect of shifting the long-term, actuarially-based funding schedule goal from 90% up to 100%. 2/19/2013HouseFiled with the Clerk by Rep. Mike Fortner 2/19/2013HouseFirst Reading 2/19/2013HouseReferred to Rules Committee 2/21/2013HouseAdded Chief Co-Sponsor Rep. Linda Chapa LaVia 2/21/2013HouseAdded Chief Co-Sponsor Rep. Dennis M. Reboletti 2/25/2013HouseAssigned to Personnel and Pensions Committee 2/26/2013HouseAdded Chief Co-Sponsor Rep. Sandra M. Pihos 2/28/2013HouseAdded Co-Sponsor Rep. David Harris 2/28/2013HouseAdded Co-Sponsor Rep. Ron Sandack 2/28/2013HouseAdded Co-Sponsor Rep. David R. Leitch 2/28/2013HouseAdded Co-Sponsor Rep. Robert W. Pritchard 2/28/2013HouseAdded Co-Sponsor Rep. Michael W. Tryon 2/28/2013HouseAdded Co-Sponsor Rep. Joe Sosnowski 2/28/2013HouseAdded Chief Co-Sponsor Rep. Michael W. Tryon 2/28/2013HouseRemoved Co-Sponsor Rep. Michael W. Tryon 3/6/2013HousePension Note Filed 3/13/2013HouseAdded Co-Sponsor Rep. Raymond Poe 3/22/2013HouseRule 19(a) / Re-referred to Rules Committee 12/3/2014HouseSession Sine Die