92nd General Assembly
Status of SB0484
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 Full Text  Bill Summary

   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                                               


 Full Text  Bill Summary