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CATEGORIES:Events
SUMMARY:The New Pension Law: How It Affects You and Your Officers
LOCATION:Oak Brook Police Department\, 1200 Oak Brook Road\, Oak Brook, IL 60523\, U
nited States
DESCRIPTION:
ILACP Training Seminar:
“The New Pen
sion Law: How It Affects You and Your Officers.”
Description:
Governor Rauner signed HB 418 on August 24,
2017, after its sponsor, Rep. Grant Wehrli, engaged in negotiations with t
he Illinois Chiefs for three years on variations of this bill. It is now P
ublic Act 100-0281. It affects police pensions, and we continue to hear
questions about exactly what this law does and what happens when the chang
es take effect on January 1, 2019.
This three-hour seminar is designe
d to answer those questions. Participants will learn:
- Exactly wh
at this bill says about your pension
- What municipalities must do in
setting up a defined contribution
- How the law affects sworn office
rs entering service after the effective date of this law
- The fundin
g impact the law will have on the Article 3 pension funds.
- Informa
tion about benefits (Tier 1 vs Tier 2, calculations for retirement/disabili
ty/survivors, contribution refunds, taxes, QILDROs, transfers and purchases
of service)
- Actuarial information (developing sound funding polici
es, impact of statutory changes, GASB)
- Answers to your questions &n
dash; you can ask questions in advance when you register, and there will be
a Q&A at each location.
- A brief history of the politics that l
ed to the “Wehrli bill” and the final language in this law, pot
ential changes to the law in the future for better or for worse, and why on
ly police chiefs (not fire chiefs, teachers, and others) were included.
Main presenter:
- Allison B
arrett, Director, Lauterbach & Amen
- Other presenters have b
een invited to address specific topics
- ILACP leaders will describe
the “Illinois politics” behind this law as well as bills and id
eas that could affect us.
CONTACT:Carmen J. Kent - ckent@ilchiefs.org - 217-523-3765
DTSTAMP:20240328T193504
DTSTART;TZID=America/Chicago:20180914T090000
DTEND;TZID=America/Chicago:20180914T120000
SEQUENCE:0
TRANSP:OPAQUE
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