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HB 2443

Portable benefit accounts; Va. resident who has worked as an independent contractor to establish.

2025 Regular Session Introduced by Phil Scott

Allows eligible downstate firefighters to transfer up to 8 years of prior police service into the firefighters' pension fund within a 6-month window after enactment.

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Bill Summary · HB 2443

Summary — HB 2443 (Illinois) — Downstate Police Article: Transfer to Firefighters' Pension Fund

Note: The file submitted also contained unrelated Arizona unclaimed‑property language for an Arizona HB 2443. This summary covers the Illinois HB 2443 (Introduced by Rep. Dan Ugaste), which concerns transfers of creditable service between downstate police and firefighters' pension funds.

Purpose

Allow certain active members of Article 4 (downstate) firefighters' pension funds to transfer up to 8 years of prior creditable service that was accumulated in a downstate police pension fund (administered by a unit of local government) into the firefighters' fund, subject to eligibility rules and a limited application window.

Key provisions

  • Time window: Eligible active firefighters may apply for the transfer at any time during the 6 months following the effective date of this amendatory Act.
  • Amount of service eligible: Up to 8 years of creditable service accumulated in a police pension fund may be transferred.
  • Eligibility condition: The applicant must have been not subject to disciplinary action when they terminated employment with the police department where the service was earned.
  • Payment for transfer:
    • The police pension fund must transfer to the Article 4 (firefighters') fund an amount equal to:
    • The member amounts accumulated on the police fund's books for the service being transferred, and
    • Employer contributions equal to the amount in item (1).
    • Any interest required to reinstate previously refunded service must be paid by the applicant (member).
  • Effect on participation: Participation in the police pension fund for the transferred service terminates as of the transfer date.
  • Reinstatement rule retained: At application, members may reinstate service previously terminated by a refund by paying the refund amount plus interest (6% compounded annually from refund date to payment).
  • State Mandates Act: The bill adds an “exempt mandate” provision stating no state reimbursement is required for implementing the mandate created by this Act.
  • Effective date: The Act takes effect upon becoming law (transfers must be applied for within the 6‑month window after that effective date).

Who is affected

  • Eligible active members of Article 4 firefighters' pension funds who previously accrued police service in a downstate police pension fund administered by the same unit of local government.
  • The relevant police and firefighters' local pension funds (administrative and actuarial/financial implications).
  • Local units of government that administer these pension funds (costs and recordkeeping).

Fiscal/administrative impact

  • Direct financial transfers occur between local police and firefighters' pension funds per the specified formula; the bill specifies no state reimbursement (local funds bear implementation effects).
  • Administrative tasks: processing transfer applications, recalculating service credit, adjusting actuarial records and benefit liabilities.

Procedural status (selected actions)

  • Introduced: 02/04/2025 by Rep. Dan Ugaste
  • Committee activity: Assigned to Rules; later referred to Appropriations‑Pensions & Personnel (Do Pass recommendation 03/05/2025).
  • Readings and Calendar actions occurred in February–March 2025; Re‑referred to Rules Committee under Rule 19(a) on 04/11/2025.
  • Co‑sponsors include Patrick Sheehan, Stephanie Kifowit, Nicole La Ha, Maurice West II, Michael J. Coffey Jr., Jehan Gordon‑Booth, Maura Hirschauer.

If you want, I can: (1) draft a concise one‑page explainer for affected members, (2) outline steps a pension fund must take to implement transfers, or (3) analyze likely actuarial impacts on a hypothetical small municipal fund.

Compiled from official sources — confirm details with the bill’s official record.

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