Senate Sponsors: REA-LUECHTEFELD-MYERS,J. Short description: PEN CD-SURS-HEALTH INSUR ELECT Synopsis of Bill as introduced: 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". Effective immediately. PENSION NOTE (Pension Laws Commission) The fiscal impact of SB1368 cannot be determined. The bill may reduce the unfunded liabilities and annual costs of SURS very slightly. The premiums paid for SURS retirees' health insurance would increase by an undetermined amount. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status