40 ILCS 5/9-179.3 from Ch. 108 1/2, par. 9-179.3
30 ILCS 805/8.25 new
Amends the Cook County Article of the Illinois Pension Code.
Extends to July 1, 2005 the expiration date of the plan of additional
benefits and contributions. Amends the State Mandates Act to require
implementation without reimbursement. Effective immediately.
PENSION NOTE (Illinois Pension Laws Commission)
The Fund's actuary has estimated that extending the optional
plan and providing an ERI (per SB 485) would increase the
accrued liability of the Fund by $225 million. The estimated
increase in total annual cost is $26.7 million, or 2.30% of
payroll. The impact of only extending the optional plan of
additional benefits has not been calculated.
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-19-2001 S PENSION NOTE FILED
MAR-19-2001 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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