Senate Sponsors: MAITLAND. Short description: PEN CD-UNIV-THIRTEENTH CHECK Synopsis of Bill as introduced: Amends the State Universities Article of the Illinois 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 (Pension Laws Commission) No increase in accrued liability; there would be costs, which would also increase State contributions, associated with loss of reinvestment of investment returns. SURS would have distri- buted $19 million, based on investment of returns of nearly 210%, in 11 of the last 27 years (41% of the time). Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status