House Sponsors: GRANBERG-BRADY-WOOLARD. Senate Sponsors: LUECHTEFELD-MADIGAN,R-BURZYNSKI-REA Short description: PEN CD-UNIV-OPTIONAL RET PROG Synopsis of Bill as introduced: Amends the State Universities Article of the Pension Code to provide for another optional retirement program. Amends the State Employees Group Insurance Act to make changes in definitions. Also makes other changes. Amends the State Pension Funds Continuing Appropriation Act to make a change in the continuing appropriation for the State Universities Retirement System. Effective immediately. PENSION IMPACT NOTE HB 1296 would not have a negative impact on SERS and may have a positive impact on the System's accrued liabilities. HOUSE AMENDMENT NO. 1. Adds reference to: 40 ILCS 5/15-141 from Ch. 108 1/2, par. 15-141 40 ILCS 5/15-142 from Ch. 108 1/2, par. 15-142 Changes the types of contributions that are characterized as "additional". Changes the date upon which the period for electing the alternative refund plan is based, from the effective date of this amendatory Act to the date upon which the employer first offers an optional program under Section 15-158.2. Provides for the payment of death benefits to survivors of persons who participate in the portable benefit program. PENSION IMPACT NOTE No change from previous pension note. PENSION NOTE No change from previous pension note. SENATE AMENDMENT NO. 1. Deletes reference to: 5 ILCS 375/3 40 ILCS 5/15-107 40 ILCS 5/15-134 40 ILCS 5/15-136 40 ILCS 5/15-136.4 new 40 ILCS 5/15-146 40 ILCS 5/15-154 40 ILCS 5/15-157 40 ILCS 5/15-158.2 40 ILCS 5/15-165 40 ILCS 15/1.1 Adds reference to: 40 ILCS 5/1-101 Replaces everything after the enacting clause with an amendment to the Pension Code to make a technical change in the short title. SENATE AMENDMENT NO. 2. Adds reference to: 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 40 ILCS 5/16-163 from Ch. 108 1/2, par. 16-163 40 ILCS 5/16-165 from Ch. 108 1/2, par. 16-165 Deletes everything. 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". Amends the Downstate Teacher Article of the Illinois Pension Code to add a second elected annuitant to the Board of Trustees. Gives the Governor the power to appoint the president of the Board from among its members (currently the State Superintendent of Education serves as president, ex officio). Effective immediately. Last action on Bill: THIRD READING - LOST 028-010-016 Last action date: 97-11-14 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 2 END OF INQUIRY Full Text Bill Status