REA-LUECHTEFELD-MYERS,J. 5 ILCS 375/3 from Ch. 127, par. 523 5 ILCS 375/10 from Ch. 127, par. 530 40 ILCS 5/15-135.1 new Amends the State Employees Group Insurance Act of 1971 and the Illinois Pension Code. Allows certain participants in the State Universities Retirement Systems to elect to forgo certain changes in the retirement annuity formula made by Public Act 90-65 and thereby avoid the additional cost of group health insurance imposed under that Public Act. Also eliminates the additional insurance cost for certain survivors. Eliminates provisions relating to "new SURS retired employees". Effective immediately. PENSION NOTE (Pension Laws Commission) The fiscal impact of SB1368 cannot be determined. The bill may reduce the unfunded liabilities and annual costs of SURS very slightly. The premiums paid for SURS retirees' health insurance would increase by an undetermined amount. 98-02-17 S FIRST READING 98-02-17 S REFERRED TO SENATE RULES COMMITTEE RULES 98-03-03 S ADDED AS A CHIEF CO-SPONSOR LUECHTEFELD 98-03-25 S PENSION NOTE FILED 98-03-25 S COMMITTEE RULES 98-05-13 S ADDED AS A CHIEF CO-SPONSOR MYERS,J 99-01-12 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary