40 ILCS 5/15-153.3 from Ch. 108 1/2, par. 15-153.3
Amends the State Universities Article of the Illinois Pension
Code. Changes the initial automatic annual increase in disability
benefit from 7%, payable after 4 years, to 0.25% for each full month
since the benefit began, payable on the January 1 next following the
granting of the benefit. Effective immediately.
PENSION NOTE (Pension Laws Commission)
The System's actuary has estimated that SB 411 will increase
the actuarial liability of SURS by $6.2 million. The increase
in State contributions has not been calculated but is expected
to be minor.
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
Full Text Bill Summary