MURPHY-BLACK, SCHOENBERG AND SHARP. 40 ILCS 5/16-129.1 40 ILCS 5/16-133 from Ch. 108 1/2, par. 16-133 40 ILCS 5/16-133.2 from Ch. 108 1/2, par. 16-133.2 Amends the Downstate Teacher Article of the Pension Code. Reduces the contribution required for certain persons to receive the augmented 2.2% retirement annuity rate. Changes the provision establishing the 2.3% unaugmented rate for certain persons having at least 30 years of service, to bring the provision into conformance with constitutional nonimpairment requirements. Extends the early retirement without discount option to 2005 and makes changes relating to the employer contribution under that option. Effective immediately. PENSION NOTE (Pension Laws Commission) Accrued liability would increase by $8 to $12 million; result- ing increase in contributions would be very small. Annual cost would be: FY2000 Statutory phase-in $ 0.9 million Unramped phase-in 7.6 million FY2010 Statutory phase-in $14.2 million Unramped phase-in 11.3 million 99-02-09 H FIRST READING 99-02-09 H ADDED AS A CO-SPONSOR SCHOENBERG 99-02-09 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-02-10 H ASSIGNED TO COMMITTEE PERS PENSION 99-02-17 H PENSION NOTE FILED 99-02-17 H COMMITTEE PERS PENSION 99-02-17 H ADDED AS A JOINT SPONSOR BLACK 99-03-05 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL 99-03-12 H ADDED AS A CO-SPONSOR SHARP 01-01-09 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary