KLINGLER-POE-LINDNER-SMITH,MICHAEL. 40 ILCS 5/14-119 from Ch. 108 1/2, par. 14-119 40 ILCS 5/14-121 from Ch. 108 1/2, par. 14-121 Amends the State Employee Article of the Pension Code to remove the Social Security offset against widow and survivor annuities for all annuitants, beginning January 1, 2002. Effective immediately. PENSION NOTE (Pension Laws Commission) HB 149 would increase the accrued liabilities of SERS by an estimated $291 million. The estimated increase in the required annual State contribution, per P.A. 88-593, is shown below: Fiscal Year Estimated Payroll Estimated Contributions 2002 3,530.0 million 0.0 2003 3,654.0 million 0.0 2005 3,908.0 million 0.0 2010 4,585.0 million 62.9 2020 6,341.0 million 87.0 2030 9,183.0 million 126.0 2045 16,584.0 million 275.3 Even with the elimination of the Social Security offset and the resulting increase in accrued liability, required State contri- butions to SERS are not expected to change until FY 2010, as the minimum statutory rates are expected to be higher than the calculated actuarial rates, per P.A. 90-65, until then. JAN-05-2001 H PREFILED WITH CLERK JAN-05-2001 H ADDED AS A JOINT SPONSOR POE JAN-05-2001 H ADDED AS A JOINT SPONSOR LINDNER JAN-10-2001 H FIRST READING JAN-10-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES JAN-26-2001 H PENSION NOTE FILED JAN-26-2001 H COMMITTEE RULES JAN-31-2001 H ASSIGNED TO COMMITTEE PERS PENSION MAR-16-2001 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL MAR-26-2001 H ADDED AS A JOINT SPONSOR SMITH,MICHAEL JAN-07-2003 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary