MURPHY AND MOORE,EUGENE.
PEN CD-FLAT RATE FORMULA
Synopsis of Bill as introduced:
Amends the State Employee, Universities, Downstate Teacher, and
Chicago Teacher Articles of the Pension Code to provide for a new
retirement formula of 1.67% per year of service for regular
coordinated members and 2.2% per year of service for regular
noncoordinated members. Amends the State Mandates Act to require
implementation without reimbursement. Effective immediately.
Last action on Bill: SESSION SINE DIE
Last action date: 99-01-12
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status