Senate Sponsors: MAITLAND. Short description: PEN CD-UNIV-ADMINISTRATIVE Synopsis of Bill as introduced: Amends the State Universities Article of the Illinois Pension Code. With respect to participation by certain teacher organization employees, requires that the teacher organization must be one that serves System participants. Clarifies that the term "separation pay" includes severance pay. Under the portable benefit package, reduces the period of service required for payment of a pre-retirement survivor annuity. Amends the retirement income limitation to exclude employment under the Article 14 and 16 retirement systems. Specifies that reversionary annuities are available only to persons who parti- cipate in the traditional benefit package. Specifies that certain beneficiary annuities are available only to the beneficiaries of persons who became participants before August 22, 1997 (the effective date of Public Act 90-511). Specifies that the automatic annual increase in survivor annuity also applies to survivors under the por- table benefit package. Repeals a Section authorizing optional programs for part-time workers. Makes other administrative and technical changes. Also amends the State Employees Group Insurance Act of 1971 to delete the requirement that certain community college employees pay contributions on their optional service credit. Effective immediately. PENSION NOTE (Pension Laws Commission) SB302 would not affect the accrued liabilities or annual cost of SURS. 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