92nd General Assembly
Status of SB0565
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 Full Text  Bill Summary

   40 ILCS 5/15-135.1                                                          

        Amends the State Universities Article  of  the  Illinois  Pension      
   Code.    Allows certain participants to elect to forgo certain changes      
   in the retirement annuity formula made by Public Act 90-65 and thereby      
   avoid the additional cost of group health insurance imposed under that      
   Public Act.  Effective immediately.                                         
          PENSION NOTE (Pension Laws Commission)                               
          The fiscal impact of SB 565 cannot be determined, as the number      
          of members who will retroactively elect to retire under pre          
          Public Act 90-0065 provisions of SURS is unkown. SB 565 may re-      
          duce the unfunded liabilities and annual cost of SURS very           
          slightly. The premiums paid by the State for SURS retirees'          
          health insurance will increase by an undetermined amount.            
   FEB-21-2001  S  FIRST READING                                                  
   FEB-21-2001  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   FEB-28-2001  S       ASSIGNED TO COMMITTEE               INS & PENS.           
   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                                               


 Full Text  Bill Summary