90th General Assembly
Status of SB1301
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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