House Sponsors: SMITH,MICHAEL. Short description: PEN CD-UNIV-THIRTEENTH CHECK Synopsis of Bill as introduced: Amends the State Universities Article of the Pension Code. Provides for an additional payment to persons receiving a retirement or survivor annuity, equal to half the monthly benefit, to be paid on the December 31 next following a fiscal year in which the System's investment return is at least 190% of the prescribed rate of interest determined for that year by the Board. Effective immediately. PENSION NOTE There is no increase in accrued liability associated with HB 3585, but there is a cost (that cannot be determined) as some investment returns that would normally stay with SURS would instead be paid out as benefits. This would increase State contributions over time by an amount that cannot be determined. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status