MADIGAN,R. 40 ILCS 5/15-136 from Ch. 108 1/2, par. 15-136 40 ILCS 5/15-154 from Ch. 108 1/2, par. 15-154 Amends the State Universities Article of the Illinois Pension Code. Provides that for a police officer or firefighter who retires on or after the effective date and receives a money-purchase annuity calculated under Rule 2, the additional normal contributions required to be paid by police officers and firefighters shall be included in the calculation of the annuity rather than refunded to the annuitant. Effective immediately. PENSION IMPACT NOTE It is estimated SB1301 would increase the accrued liability of SURS by $374,000, and the normal cost of SURS by $18,000 annually. The fiscal impact is minor. 98-01-29 S FIRST READING 98-01-29 S REFERRED TO SENATE RULES COMMITTEE RULES 98-03-02 S PENSION NOTE FILED 98-03-02 S COMMITTEE RULES 99-01-12 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary