92nd General Assembly Summary of SB1840    [ Home ]   [ Back ]   [ Legislation ]

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Senate Sponsors:
MYERS-LUECHTEFELD.

House Sponsors:
BERNS-POE-BOST-MYERS,RICHARD-WINKEL

Short description: 
PEN CD-UNIV-30 YEARS ANY AGE                                               

Synopsis of Bill as introduced:
        Amends the State Universities Article  of  the  Illinois  Pension      
   Code.    Allows  retirement  at  any  age  with  30  years of service,      
   beginning in 2002.  Effective immediately.                                  
          PENSION NOTE (Pension Laws Commission)                               
          The System's actuary estimates that SB 1840 would increase the       
          actuarial liability by $61.4 million. The increase in employer       
          contributions in FY 2010 is expected to be about $1.2 million,       
          or 0.03% of payroll.                                                 
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: Senate

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


   END OF INQUIRY 


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