40 ILCS 5/16-132 from Ch. 108 1/2, par. 16-132
40 ILCS 5/16-133 from Ch. 108 1/2, par. 16-133
Amends the Downstate Teacher Article of the Illinois Pension Code
to allow retirement at any age with 34 years of service. Effective
PENSION NOTE (Pension Laws Commission)
The System's actuary estimates SB 511 would increase the
accrued liability of TRS by $250 million. However, it should
be noted that the fiscal impact of SB 511 includes two compon-
ents - $63 million is the cost of the existing Early Retirement
Option (ERO), available through 2005, and $187 million is the
additional cost for a permanent 34-and-out provision.
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-01-2001 S PENSION NOTE FILED AS INTRODUCED
MAR-06-2001 S POSTPONED
MAR-20-2001 S POSTPONED
MAR-27-2001 S POSTPONED
MAR-27-2001 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