91st General Assembly Summary of SB1926    [ Home ]   [ Back ]   [ Legislation ]

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Senate Sponsors:
CLAYBORNE.

Short description: 
PENCD-JUDGE-EARLY RET DISCOUNT                                             

Synopsis of Bill as introduced:
        Amends the Judges Article of the Illinois Pension Code.   Reduces      
   the  early retirement discount from 0.5% to 0.25% for each month below      
   age 60.  Makes a corresponding change  in  the  alternative  rate  for      
   years in excess of 20.  Effective immediately.                              
          PENSION NOTE (Pension Laws Commission)                               
          SB 1926 would increase the actuarial liability of the Judges'        
          Retirement System by $4.3 million. The estimated increase in         
          total annual costs is $0.64 million, or 0.61% of payroll.            
 
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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