MURPHY AND MOORE,EUGENE. 40 ILCS 5/15-134 from Ch. 108 1/2, par. 15-134 40 ILCS 5/15-135 from Ch. 108 1/2, par. 15-135 40 ILCS 5/15-136 from Ch. 108 1/2, par. 15-136 40 ILCS 5/15-136.2 from Ch. 108 1/2, par. 15-136.2 40 ILCS 5/15-145 from Ch. 108 1/2, par. 15-145 40 ILCS 5/15-146 from Ch. 108 1/2, par. 15-146 40 ILCS 5/15-153.3 from Ch. 108 1/2, par. 15-153.3 Amends the State Universities Article of the Pension Code. Provides a new flat rate retirement formula equal to 2.2% of the final rate of earnings for each year of service. Increases the maximum retirement annuity from 75% to 80% of the final rate of earnings. Extends the deadline for early retirement without discount to September 1, 2002. Removes the compensation limits for persons employed by more than one employer. Changes the service requirement for retirement at any age from 35 to 30 years. Allows a surviving spouse without dependents to begin receiving survivor's benefits before attaining age 50. Provides for a minimum survivor's benefit based on the amount of service of the deceased member. Extends the survivor's benefit for a dependent child until age 23 if the child is a full-time student. Accelerates the initial annual increase in disability benefits. Effective immediately. PENSION NOTE Fiscal impact has not been determined but would be significant. 97-02-24 H FILED WITH CLERK 97-02-24 H FIRST READING 97-02-24 H REFERRED TO HOUSE RULES COMMITTEE RULES 97-02-26 H ASSIGNED TO COMMITTEE PERS PENSION 97-03-21 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL 97-04-09 H ADDED AS A CO-SPONSOR MOORE,EUGENE 97-04-11 H PENSION NOTE FILED 97-04-11 H COMMITTEE RULES 99-01-12 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary