91st General Assembly Summary of SB1258    [ Home ]   [ Back ]   [ Legislation ]

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Senate Sponsors:
PARKER.

Short description: 
PEN CD-TRS-FLAT RATE ADJUSTMT                                              

Synopsis of Bill as introduced:
        Amends the Downstate Teacher  Article  of  the  Illinois  Pension      
   Code.  Allows certain persons who began receiving retirement annuities      
   on  or  after  July  1,  1998  to have those annuities recalculated to      
   reflect the changes to the retirement formula  that  were  enacted  in      
   Public Act 91-17.  Effective immediately.                                   
          PENSION NOTE (Pension Laws Commission)                               
          SB1258 would not increase the accrued liability or annual costs      
          of TRS. A very small amount of contributions would have to be        
          refunded to members who upgraded service prior to the reduction      
          in upgrade cost in PA 91-17.                                         
 
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 


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