92nd General Assembly
Status of SB0407
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 Full Text  Bill Summary

   40 ILCS 5/15-135          from Ch. 108 1/2, par. 15-135                     

        Amends the State Universities Article  of  the  Illinois  Pension      
   Code.    Allows  retirement  at  any  age  with  30  years of service,      
   beginning in 2002.  Effective immediately.                                  
          PENSIONS NOTE (Pension Laws Commission)                              
          The System's actuary estimates that SB 407 would increase the        
          actuarial liability by $61.4 million. The estimated increase in      
          FY 2001 employer contributions is $0.1 million, or 0.01% of          
          payroll. The increase in employer contributions in FY 2010 is        
          expected to be about $1.2 million, or 0.03% of payroll.              
   FEB-20-2001  S  FIRST READING                                                  
   FEB-20-2001  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   FEB-28-2001  S       ASSIGNED TO COMMITTEE               INS & PENS.           
   MAR-06-2001  S       TO SUBCOMMITTEE                                           
   MAR-12-2001  S                        PENSION NOTE FILED AS INTRODUCED         
   MAR-12-2001  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