40 ILCS 5/14-135.11 new
Amends the State Employee Article of the Illinois Pension Code.
Authorizes the Board to design and implement a defined contribution
retirement plan for persons who first become members of the System on
or after January 1, 2003, as an alternative to the benefits currently
provided by the System. Effective immediately.
PENSION NOTE (Pension Laws Commission)
The fiscal impact cannot be determined, as SB 17 merely author-
izes SERS to design and implement a defined contribution plan.
SB 17 does not outline the funding, investments, or other
aspects, of the defined contribution plan.
JAN-11-2001 S PREFILED WITH SECRETARY JANUARY 9, 2001
JAN-11-2001 S FIRST READING
JAN-11-2001 S REFERRED TO SENATE RULES COMMITTEE RULES
JAN-29-2001 S PENSION NOTE FILED
JAN-29-2001 S REMAINS IN COMMITTEE RULES
FEB-01-2001 S ASSIGNED TO COMMITTEE INS & PENS.
MAR-06-2001 S TO SUBCOMMITTEE
MAR-06-2001 S COMMITTEE INS & PENS.
MAR-31-2001 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES
JAN-07-2003 S SESSION SINE DIE
END OF INQUIRY
Full Text Bill Summary