92nd General Assembly
Status of SB0185
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 Full Text  Bill Summary

   40 ILCS 5/1-113           from Ch. 108 1/2, par. 1-113                      
   40 ILCS 5/13-213          from Ch. 108 1/2, par. 13-213                     
   40 ILCS 5/13-302          from Ch. 108 1/2, par. 13-302                     
   40 ILCS 5/13-306          from Ch. 108 1/2, par. 13-306                     
   40 ILCS 5/13-308          from Ch. 108 1/2, par. 13-308                     
   30 ILCS 805/8.25 new                                                        

        Amends the Metropolitan Water Reclamation District Article of the      
   Illinois Pension Code.   Provides  for  an  increase  in  the  child's      
   annuity,  the  minimum  retirement  annuity, and the minimum surviving      
   spouse annuity.   Allows  conversion  of  a  surviving  spouse's  term      
   annuity  into  a  minimum  surviving  spouse annuity.  Accelerates the      
   initial automatic annual increase by one month for persons retiring on      
   the last day of the month.  In the investment restrictions that  apply      
   to  the  Fund, provides that the total market (rather than book) value      
   of all stocks and convertible debt shall not exceed 65%  (rather  than      
   50%)  of  the  aggregate  market  (rather than book) value of all Fund      
   investments.  Also makes technical changes.  Amends the State Mandates      
   Act  to  require  implementation  without  reimbursement.    Effective      
          PENSION NOTE (Pension Laws Commission)                               
          The estimated increase in accrued liability due to SB 185 would      
          be $2 million. The increase in annual cost is estimated to be        
          $178,000, or 0.16% of payroll. The estimated annual cost will        
          increase commensurate with payroll.                                  
   FEB-20-2001  S  FIRST READING                                                  
   FEB-20-2001  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   FEB-21-2001  S       ASSIGNED TO COMMITTEE               INS & PENS.           
   FEB-27-2001  S                        PENSION NOTE FILED AS INTRODUCED         
   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                                               


 Full Text  Bill Summary