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Key Votes

HB 1154 - Amends Cook County Pension Laws - Key Vote

Illinois Key Votes

Darin LaHood voted Nay (Passage With Amendment) on this Legislation.

Read statements Darin LaHood made in this general time period.

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Legislation - Bill Passed With Amendment (Senate) (36-16) - (Key vote)

Title: Amends Cook County Pension Laws

Vote Smart's Synopsis:

Vote to pass a bill that amends Cook County pension laws.

Highlights:
  • Establishes an annuitant healthcare trust including a budget stabilization fund for the purposes of financing and providing healthcare benefits to eligible annuitants in Cook County and the Cook County Preserve District (Sec. 5).
  • Requires a deposit of $40 million from Cook County and $10 million from the Cook County Forest Preserve District for the budget stabilization fund, no later than January 1, 2016 (Sec. 5).
  • Requires Cook County to contribute $50 million to the annuitant healthcare trust in fiscal year 2016 and in every year thereafter (Sec. 5).
  • Requires the $50 million contribution by Cook County to be increased by the annual unadjusted percentage increase in the Consumer Price Index, beginning January 1, 2017 (Sec. 5). 
  • Requires the current finance-and-benefit regime of funding County and District pensions to undergo certain changes including, but not limited to, the following changes (Sec. 50):
    • Require a County contribution that is greater than 190 percent of the contributions made by its’ active employees; and
    • Require a District contribution that is greater than 175 percent of the contributions made by its active employees.
  • Authorizes certain Tier 2 employees who became members of a reciprocal retirement system or pension fund after January 1, 2011 to receive a retirement annuity if he or she has attained age 67 and has at least 10 years of public service (Sec. 60).
  • Requires the retirement annuities of certain Tier 2 employees, retiring after age 62 with at least 10 years of public service, to be reduced by one-half of 1 percent for each full month that the employee’s age is under age 67 (Sec. 60).
  • Authorizes certain Tier 1 employees who have less than 30 years of service to receive retirement annuities under the following conditions (Sec. 60):
    • The employee has reached age 60 for annuities beginning in 2015;
    • The employee has reached age 61 for annuities beginning in 2016 or 2017;
    • The employee has reached age 62 for annuities beginning in 2018 or 2019;
    • The employee has reached age 63 for annuities beginning in 2020 or 2021;
    • The employee has reached age 64 for annuities beginning in 2022 or 2023; or
    • The employee has reached age 65 for annuities beginning in 2024 or thereafter.
  • Authorizes certain Tier 1 employees who have at least 30 years of service to receive retirement annuities under the following conditions (Sec. 60):
    • The employee has reached age 50 for annuities beginning in 2015;
    • The employee has reached age 51 for annuities beginning in 2016 or 2017; 
    • The employee has reached age 52 for annuities beginning in 2018 or 2019;
    • The employee has reached age 53 for annuities beginning in 2020 or 2021;
    • The employee has reached age 54 for annuities beginning in 2022 or 2023; or
    • The employee has reached age 55 for annuities beginning in 2024 or thereafter.
  • Authorizes a Tier 1 or Tier 2 county security officer who has at least 10 years of service to receive retirement annuities under the following conditions (Sec. 60):
    • The officer has reached age 60 for annuities beginning in 2015;
    • The officer has reached age 61 for annuities beginning in 2016 or 2017; and
    • The officer has reached age 62 for annuities beginning in 2018 or thereafter.
Legislation - Bill Passed (House) (101-15) -
Legislation - Introduced (House) -

Title: Amends Cook County Pension Laws

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