PENCD-STATE SYS-TIER 3 PLAN House SponsorsRep. Jeanne M Ives-Thomas Morrison and Anthony DeLuca 1/10/2017HouseSession Sine Die 5 ILCS 375/3from Ch. 127, par. 5235 ILCS 375/10from Ch. 127, par. 53040 ILCS 5/1-16040 ILCS 5/2-105.140 ILCS 5/2-117from Ch. 108 1/2, par. 2-11740 ILCS 5/2-16240 ILCS 5/2-165.5 new40 ILCS 5/14-103.05from Ch. 108 1/2, par. 14-103.0540 ILCS 5/14-103.4040 ILCS 5/14-103.41 new40 ILCS 5/14-103.42 new40 ILCS 5/14-152.140 ILCS 5/14-155.5 new40 ILCS 5/15-108.140 ILCS 5/15-108.240 ILCS 5/15-108.3 new40 ILCS 5/15-134from Ch. 108 1/2, par. 15-13440 ILCS 5/15-19840 ILCS 5/15-200.5 new40 ILCS 5/16-106.440 ILCS 5/16-106.41 new40 ILCS 5/16-106.42 new40 ILCS 5/16-123from Ch. 108 1/2, par. 16-12340 ILCS 5/16-20340 ILCS 5/16-205.5 new40 ILCS 5/18-110.1 new40 ILCS 5/18-110.2 new40 ILCS 5/18-110.3 new40 ILCS 5/18-120from Ch. 108 1/2, par. 18-12040 ILCS 5/18-121.5 new40 ILCS 5/18-124from Ch. 108 1/2, par. 18-12440 ILCS 5/18-125from Ch. 108 1/2, par. 18-12540 ILCS 5/18-125.1from Ch. 108 1/2, par. 18-125.140 ILCS 5/18-127from Ch. 108 1/2, par. 18-12740 ILCS 5/18-128.01from Ch. 108 1/2, par. 18-128.0140 ILCS 5/18-133from Ch. 108 1/2, par. 18-13340 ILCS 5/18-16940 ILCS 5/20-121from Ch. 108 1/2, par. 20-12140 ILCS 5/20-123from Ch. 108 1/2, par. 20-12340 ILCS 5/20-124from Ch. 108 1/2, par. 20-12440 ILCS 5/20-125from Ch. 108 1/2, par. 20-12540 ILCS 5/2-166 rep.40 ILCS 5/14-156 rep.40 ILCS 5/15-201 rep.40 ILCS 5/16-206 rep. Amends the Illinois Pension Code. With respect to the 5 State-funded Retirement Systems: requires each System to prepare and implement a Tier 3 plan by July 1, 2016 that aggregates State and employee contributions in individual participant accounts which are used for payouts after retirement. Provides that a Tier 1 or Tier 2 participant may irrevocably elect to participate in the Tier 3 plan instead of the defined benefit plan; makes conforming changes. Authorizes a Tier 1 or Tier 2 participant who elects to participate in the Tier 3 plan to elect to terminate all participation in the defined benefit plan and to have a specified amount credited to his or her account under the Tier 3 plan. Provides that the Tier 3 plan supersedes the defined contribution plan created under P.A. 98-599 for certain Tier 1 participants. Requires each System to report on its progress in establishing the Tier 3 plan to the Governor and the General Assembly by January 15, 2016. Provides that "new benefit increase" does not include any benefit increase resulting from the changes made by the amendatory Act. In the Downstate Teachers, State Employees, and State Universities Articles, authorizes a person to elect not to participate or to terminate his or her participation in those Systems. In the General Assembly and Judges Articles, authorizes a participant to terminate his or her participation in the System. Makes related changes in the Retirement Systems Reciprocal Act (Article 20 of the Code) and the State Employees Group Insurance Act of 1971. Makes other changes. Effective immediately. 2/27/2015HouseFiled with the Clerk by Rep. Jeanne M Ives 2/27/2015HouseFirst Reading 2/27/2015HouseReferred to Rules Committee 4/14/2015HouseAdded Co-Sponsor Rep. Anthony DeLuca 5/22/2015HouseAdded Chief Co-Sponsor Rep. Thomas Morrison 1/10/2017HouseSession Sine Die