This is an email I received from Sandy Stansell regarding the 13th check from IMRF. Hey Bri, Feel free to post this on Facebook if you’d like. I’m tied up with some things and can’t do it right now. Again, this doesn’t mean the bill was approved. The Illinois House of Representatives Personnel and Pensions Committee on March 25 approved legislation that would terminate the 13th payment effective January 1, 2015, for all present and future annuitants. House Amendment #1 to House Bill 3898 must pass through a number of additional steps to become law, however. These steps include being approved by a majority of legislators in the House, being passed out of a committee in the Senate, being approved by a majority of legislators in the Senate, and being signed by the governor. The legislative process could end at any stage, at which point the proposal would be considered effectively dead. Only about 10 percent of all legislative proposals ultimately become law. Click here for more information about the legislative process. On March 24, the IMRF Board of Trustees Legislative Committee voted to oppose the proposal. At todays committee meeting, IMRF Executive Director Louis W. Kosiba spoke against the proposed legislation. A number of other groups representing IMRF employees and employers have also formally opposed the legislation. Members of the public may register their opinion on any pending legislation by contacting their local legislators. Media reports have characterized the 13th payment as a bonus. This is inaccurate. It is a form of deferred compensation intended to help offset inflation. It was granted to retirees after significant negotiation by employee and employer groups, and approved by the Illinois General Assembly in 1992. IMRF staff believes the Illinois Constitution protects the benefits of current and retired IMRF members, and that this protection extends to the 13th payment. Thank you Sandy Stansell for the information.
Posted on: Wed, 26 Mar 2014 20:10:41 +0000
Trending Topics
Recently Viewed Topics
© 2015