PENCD-LIMITS ON MEMBERSHIP House SponsorsRep. Jeanne M Ives 12/3/2014HouseSession Sine Die 40 ILCS 5/2-101from Ch. 108 1/2, par. 2-10140 ILCS 5/2-105from Ch. 108 1/2, par. 2-10540 ILCS 5/2-107from Ch. 108 1/2, par. 2-10740 ILCS 5/7-137from Ch. 108 1/2, par. 7-13740 ILCS 5/8-113from Ch. 108 1/2, par. 8-11340 ILCS 5/8-243from Ch. 108 1/2, par. 8-24340 ILCS 5/9-108from Ch. 108 1/2, par. 9-108 Amends the Illinois Pension Code. In the General Assembly Article, restricts participation in the General Assembly Retirement System to persons who become participants before the effective date and provides that, beginning on that date, the System shall not accept any new participants. Makes related changes. In the Illinois Municipal Retirement Fund (IMRF), Chicago Municipal, and Cook County Articles, provides that a person who holds part-time elective office is not an employee, contributor, or participant with respect to that office, unless he or she (i) was elected to that office before the effective date and (ii) has elected while in that office to become a contributor. Provides that an elective office shall be presumed to be part-time in the absence of an official job description or determination by the legal advisor of the applicable unit of local government, filed with the Board of the Fund, declaring the elective office to be full-time.Pension Note (Government Forecasting & Accountability) HB 3291 would have a slight positive impact upon the pension funds impacted by this bill. An actuarial study would be required to determine the precise savings associated with limiting membership in GARS to persons who became participants before the effective date of HB 3291. According to GARS' FY 2012 actuarial report, the system had a funding ratio of 17.4% as of June 30, 2012. Current funding projections show that the fund will drop to a 6.2% funding ratio by FY 2029. 2/26/2013HouseFiled with the Clerk by Rep. Jeanne M Ives 2/26/2013HouseFirst Reading 2/26/2013HouseReferred to Rules Committee 3/11/2013HouseAssigned to Personnel and Pensions Committee 3/20/2013HousePension Note Filed 3/22/2013HouseRule 19(a) / Re-referred to Rules Committee 12/3/2014HouseSession Sine Die