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
END OF INQUIRY
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