92nd General Assembly
Status of SB1845
   [ Home ]   [ Back ]   [ Legislation ]
Please enter a bill number.

 Full Text  Bill Summary

   40 ILCS 5/13-304          from Ch. 108 1/2, par. 13-304                     
   40 ILCS 5/13-304.1 new                                                      
   40 ILCS 5/13-502          from Ch. 108 1/2, par. 13-502                     
   40 ILCS 5/13-503          from Ch. 108 1/2, par. 13-503                     
   30 ILCS 805/8.26 new                                                        

        Amends the Metropolitan Water Reclamation District Article of the      
   Illinois Pension Code.  Extends the program of optional  contributions      
   and benefits through December 31, 2007.  Provides for certain optional      
   contributions  to  be  made  on  a  tax-deferred  basis.   Makes other      
   changes.  Amends the State  Mandates  Act  to  require  implementation      
   without reimbursement.  Effective immediately.                              
          PENSION NOTE (Pension Laws Commission)                               
          Based on matching employer contributions, the Fund's actuary         
          estimates SB 1845 would increase annual employer costs by            
          $600,000, beginning in 2005 through 2009. In addition, the           
          new optional plan would increase the unfunded liability by           
          an estimated $1.8 million.                                           
   FEB-06-2002  S  FIRST READING                                                  
   FEB-06-2002  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   FEB-22-2002  S                        PENSION NOTE FILED AS INTRODUCED         
   FEB-22-2002  S                   COMMITTEE               RULES                 
   JAN-07-2003  S  SESSION SINE DIE                                               


 Full Text  Bill Summary