The Governor has signed several new laws related to IMRF:
- House Bill 2966 was signed into law August 18, 2017, and is now Public Act 100-0139. Effective immediately, this bill makes two changes to the IMRF Article of the Illinois Pension Code. First, it updates the qualifications section for the IMRF Board of Trustees to ensure that Board candidates are vested, regardless of the tier in which they participate. Additionally, it corrects incorrect terminology referenced in the Accelerated Payment statute. Effective August 18, 2017.
- House Bill 3070 was signed into law August 18, 2017, and is now Public Act 100-0148. This bill clarifies current IMRF practice to allow members to make one payment for service credit purchases after termination, as long as a valid application is received while the member is still active. This legislation codifies current IMRF practice and is effective immediately. Effective August 18, 2017.
- House Bill 3122 was signed into law August 22, 2017, and is now Public Act 100-0274. This bill requires all governing body members, whether elected or appointed, to be under the 1,000 hour standard. The change would apply to new members only. Effective January 1, 2018.
- House Bill 418 was signed into law August 24, 2017, and is now Public Act 100-0281. In the provisions applicable to IMRF, this bill prohibits members who first become a participating employee on or after January 1, 2019, from opting into IMRF SLEP as a police chief. Effective January 1, 2019.
- House Bill 815 was signed into law August 25, 2017, and is now Public Act 100-0354. This bill allows municipalities without an Article 3 or 4 fund that have at least 50 full-time police officers and/or firefighters to allow, by resolution, to participate in IMRF SLEP. The resolution would terminate if the municipality did establish an Article 3 or 4 fund, as applicable. Effective August 25, 2017.
- Senate Bill 701 was signed into law August 25, 2017, and is now Public Act 100-411. This bill excludes vehicle allowances from the definition of reportable wages for members who first begin participation on or after the effective date. This also excludes vacation payouts from the accelerated payment calculation, but only if the payment was made in the final three months of the FRE period. Effective August 25, 2017.