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
END OF INQUIRY
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