Legislation

Legislation

Please note: SURS does not endorse specific pension reform legislation. Our goal is to update and educate SURS members concerning legislation that may affect their retirement benefits.

HB 0139

SEGIP Reenrollment after Nonpayment of Premiums

House Amendment #1 to HB 139 allows an annuitant, survivor or retired employee whose coverage has been terminated under the State Employees Group Insurance Program for nonpayment of premiums to reenroll in the State Employees Group Insurance Program during the next enrollment period upon repayment of the unpaid premiums.

Specifically, HA #1 amends the State Employees Group Insurance Act...

HB 0280

No Investments in Companies that Contract to Build Border Wall

HB 280 amends the General Provisions Article of the Illinois Pension Code to prohibit the state-funded retirement systems from investing in companies that contract to build a border wall. The term “contract to build a border wall” means entering into a contract with the federal government for construction pursuant to Section 4 of Executive Order 13767 of the President of the United States....

HB 0329

University Student Athlete Employees

HB 329 amends the University of Illinois Act, the Southern Illinois University Management Act, the Chicago State University Law, the Eastern Illinois University Law, the Governors State University Law, the Illinois State University Law, the Northeastern Illinois University Law, the Northern Illinois University Law and the Western Illinois University Law.

HB 329 requires each university...

HB 0350

Repeal 3% Rule and Reenact 6% Rule

HB 350 amends the State Universities Retirement System and Teachers’ Retirement System Articles of the Illinois Pension Code to repeal the 3% rule and reenact the 6% rule.

Specifically, HB 350 repeals the requirement that employers pay the present value of the resulting increase in benefits attributable to the portion of any salary increases in excess of 3% during the participant’s...

HB 0816

Fiscal Year 2020 Budget Implementation Bill

Senate Amendment #1 to HB 816 creates the FY 2020 Budget Implementation Act to make changes in state programs that are necessary to implement the state budget for fiscal year 2020.  It authorizes the use of moneys in the State Pensions Fund as part of the FY 2020 state contribution to SURS and makes two additional changes: (1) it repeals the 3% Rule and reenacts the 6% Rule; and (2) it...

HB 0902

Cannabis Legalization Equity Act

HB 902 creates the Cannabis Legalization Equity Act to legalize the use of cannabis for individuals aged 21 or older and provide for its taxation in a manner similar to alcohol.

As it relates to SURS, HB 902 requires proceeds from the excise tax imposed on the sale or transfer of cannabis to be transferred from the Cannabis Excise Tax Fund to the state-funded retirement systems every...

HB 1260

Sports Wagering Act

House Amendment #4 to HB 1260 creates the Sporting Contest Safety and Integrity Act and the Sports Wagering Act. As it relates to SURS, it requires moneys collected by the Illinois Gaming Board under the Sports Wagering Act to be deposited into Sports Wagering Fund and then transferred in equal amounts to the State Construction Account Fund, the Pension Stabilization Fund, and the Common...

HB 1576

Downstate Police and Firefighter Pension Funds Consolidation

HB 1576 requires certain downstate policemen’s pension funds and certain downstate firefighters’ pension funds to transfer their investment assets and authority to the Downstate Police Pension Investment Board and the Downstate Firefighter Pension Investment Board, respectively.

As it relates to SURS, HB 1576 increases the amount of the annual compliance fee paid by each pension fund to...

HB 1605

Climate Change Risk Minimization Policy

HB 1605 amends the General Provisions Article of the Illinois Pension Code to require every pension fund (except for downstate police and firefighters’ pension funds) to develop a climate change risk minimization policy by December 31, 2020.

HB 1605 requires the climate change risk minimization policy to consider the financial risk to the investments held by the pension fund in the...

HB 1625

Voluntary Tier III Plan + Opt-Out + No Credit for Unused Vacation/Sick Leave

HB 1625 amends multiple articles of the Illinois Pension Code to create a voluntary Tier III plan for Tier I and Tier II members under the General Assembly Retirement System, State Employees’ Retirement System, State Universities Retirement System, Teachers’ Retirement System, and Judges’ Retirement System.

HB 1625 requires SURS to prepare and implement a Tier III plan by July 1, 2020...

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