90th General Assembly
Summary of HB2450
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House Sponsors:

Short description: 
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.      
   Effective immediately.                                                      
          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

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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