PEN CD-ART 3&4-FINANCING Senate SponsorsSen. Christopher Belt-Chuck Weaver 1/13/2021SenateSession Sine Die 40 ILCS 5/3-125from Ch. 108 1/2, par. 3-12540 ILCS 5/4-118from Ch. 108 1/2, par. 4-11830 ILCS 805/8.43 newAmends the Downstate Police and Downstate Firefighter Articles of the Illinois Pension Code. Beginning municipal fiscal year 2021, provides that the annual levy and contribution to the fund are equal to (1) the normal cost of the pension fund for the year involved, plus (2) an amount sufficient to bring the total assets of the pension fund up to 100% of the total actuarial liabilities of the pension fund over a 30-year rolling amortization period. Provides that each municipal fiscal year through 2031, the rolling amortization period shall be reduced by one year for each municipal fiscal year after 2021. Provides a 20-year rolling amortization period for municipal fiscal year 2031 and each year thereafter. Provides that in making these determinations, the required minimum employer contribution shall be calculated each year as a level dollar amount over the amortization period and shall be determined under the entry age normal actuarial cost method. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. 2/15/2019SenateFiled with Secretary by Sen. Christopher Belt 2/15/2019SenateFirst Reading 2/15/2019SenateReferred to Assignments 3/13/2019SenateAdded as Chief Co-Sponsor Sen. Chuck Weaver 3/14/2019SenateAssigned to Government Accountability and Ethics 3/14/2019SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Christopher Belt 3/14/2019SenateSenate Committee Amendment No. 1 Referred to Assignments 3/19/2019SenateSenate Committee Amendment No. 1 Assignments Refers to Government Accountability and Ethics 3/22/2019SenateRule 2-10 Committee Deadline Established As March 28, 2019 3/28/2019SenateSenate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments 3/28/2019SenateRule 3-9(a) / Re-referred to Assignments 1/13/2021SenateSession Sine Die