92nd General Assembly
Status of HB3698
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 Full Text  Bill Summary

   40 ILCS 5/13-301          from Ch. 108 1/2, par. 13-301                     
   40 ILCS 5/13-302          from Ch. 108 1/2, par. 13-302                     
   30 ILCS 805/8.26 new                                                        

        Amends the Metropolitan Water Reclamation District Article of the      
   Illinois Pension Code. Provides that an  employee  with  at  least  10      
   years  of  service  who  is  at least 50 years of age but less than 60      
   years of age and retires on or after January 1, 2003 but on or  before      
   December  31,  2007  may receive an undiscounted retirement annuity if      
   the employee's  age,  when  added  to  the  number  of  years  of  the      
   employee's  creditable  service,  equals at least 80. Amends the State      
   Mandates  Act  to  require   implementation   without   reimbursement.      
   Effective immediately.                                                      
          PENSION NOTE (Pension Laws Commission)                               
          The Fund's actuary estimates that providing the Rule of 80           
          would increase the accrued liability of the Fund by $3.3             
          million. The required annual contributions have not been             
          calculated, but would be minor.                                      
   NOV-28-2001  H  FILED WITH CLERK                                               
   NOV-29-2001  H  FIRST READING                                                  
   NOV-29-2001  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   JAN-22-2002  H                        PENSION NOTE FILED                       
   JAN-22-2002  H                   COMMITTEE               RULES                 
   JAN-07-2003  H  SESSION SINE DIE                                               


 Full Text  Bill Summary