Bill Status of HB 1124   93rd General Assembly

Short Description:  PEN CD-ONE-TIME INCREASES

House Sponsors
Rep. Michael K. Smith

Last Action  View All Actions

DateChamber Action
  1/11/2005HouseSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/14-114from Ch. 108 1/2, par. 14-114
40 ILCS 5/14-119from Ch. 108 1/2, par. 14-119
40 ILCS 5/14-121from Ch. 108 1/2, par. 14-121
40 ILCS 5/15-136from Ch. 108 1/2, par. 15-136
40 ILCS 5/15-136.3
40 ILCS 5/15-145from Ch. 108 1/2, par. 15-145
40 ILCS 5/16-133.1from Ch. 108 1/2, par. 16-133.1
40 ILCS 5/16-143.1from Ch. 108 1/2, par. 16-143.1
40 ILCS 5/17-119from Ch. 108 1/2, par. 17-119
40 ILCS 5/17-122from Ch. 108 1/2, par. 17-122
30 ILCS 805/8.27 new

Synopsis As Introduced
Amends the State Employee, State Universities, Downstate Teacher, and Chicago Teacher Articles of the Pension Code to provide for a one-time increase in certain retirement and survivor's annuities. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

 Pension Note (Pension Laws Commission)
 HB 1124 would increase the accrued liabilities of the affected systems by $733.8 million. The corresponding increase in annual required contributions have not been calculated, but may be significant. The estimated fiscal impact of HB 1124 for each system affected is as follows: SERS $210.5 million, SURS $120.0 million, TRS $250 million, CTPF $153.3 million.

Actions 
DateChamber Action
  2/4/2003HouseFiled with the Clerk by Rep. Michael K. Smith
  2/4/2003HouseFirst Reading
  2/4/2003HouseReferred to Rules Committee
  2/5/2003HouseAssigned to Executive Committee
  3/13/2003HouseRule 19(a) / Re-referred to Rules Committee
  3/17/2003HousePension Note Filed
  1/11/2005HouseSession Sine Die

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