PEN CD-SURS-POLICE MONEY PURCH
Synopsis of Bill as introduced:
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.
PENSION NOTE (Pension Laws Commission)
Fiscal impact is minor. SURS accrued liability would increase
by $374,000 and normal costs by $18,000 annually.
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