CAPPARELLI-BUGIELSKI-MCAULIFFE-SAVIANO, LYONS,JOSEPH AND BURKE. 40 ILCS 5/13-213 from Ch. 108 1/2, par. 13-213 40 ILCS 5/13-302 from Ch. 108 1/2, par. 13-302 40 ILCS 5/13-303 from Ch. 108 1/2, par. 13-303 40 ILCS 5/13-304 from Ch. 108 1/2, par. 13-304 40 ILCS 5/13-306 from Ch. 108 1/2, par. 13-306 40 ILCS 5/13-314 from Ch. 108 1/2, par. 13-314 40 ILCS 5/13-603 from Ch. 108 1/2, par. 13-603 30 ILCS 805/8.24 new Amends the Metropolitan Water Reclamation District Article of the Pension Code. Increases the minimum retirement and surviving spouse annuities in certain cases where the employee retired before attaining age 60. Extends the early retirement without discount option through 2007 and allows the required employee contribution to be paid in either pre-retirement or post-retirement installments. In the special plan for Commissioners, allows payment of the additional contribution for past service in installments and authorizes employer pick-up. Extends the optional plan of additional benefits through 2007; makes the plan available to employees entering service after June 30, 1997 and increases the rate of optional contributions required under the plan. Accelerates the initial automatic annual increase by one month for persons retiring on the last day of the month. Allows the Board to adopt a new actuarial table for calculating reversionary annuities. With respect to the repayment of refunds, allows employees to pay in installments, authorizes employer pick-up, and changes the manner of calculating the required interest. Makes other changes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) HB 4339 would increase the unfunded liability by $6.4 million. The increase in annual costs has not been calculated, but would be relatively minor. 00-02-03 H FILED WITH CLERK 00-02-03 H ADDED AS A JOINT SPONSOR BUGIELSKI 00-02-03 H ADDED AS A JOINT SPONSOR MCAULIFFE 00-02-03 H ADDED AS A JOINT SPONSOR SAVIANO 00-02-03 H ADDED AS A CO-SPONSOR LYONS,JOSEPH 00-02-03 H ADDED AS A CO-SPONSOR BURKE 00-02-03 H FIRST READING 00-02-03 H REFERRED TO HOUSE RULES COMMITTEE RULES 00-02-16 H PENSION NOTE FILED 00-02-16 H COMMITTEE RULES 01-01-09 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary