CAPPARELLI-LYONS,JOSEPH-BUGIELSKI-BURKE-BRADLEY, MCAULIFFE AND SAVIANO. (MOLARO) 40 ILCS 5/1-113 from Ch. 108 1/2, par. 1-113 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 5/13-306 from Ch. 108 1/2, par. 13-306 40 ILCS 5/13-308 from Ch. 108 1/2, par. 13-308 30 ILCS 805/8.25 new Amends the Metropolitan Water Reclamation District Article of the Illinois Pension Code. Provides for an increase in the child's annuity, the minimum retirement annuity, and the minimum surviving spouse annuity. Allows conversion of a surviving spouse's term annuity into a minimum surviving spouse annuity. Accelerates the initial automatic annual increase by one month for persons retiring on the last day of the month. In the investment restrictions that apply to the Fund, provides that the total market (rather than book) value of all stocks and convertible debt shall not exceed 65% (rather than 50%) of the aggregate market (rather than book) value of all Fund investments. Also makes technical changes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) An analysis prepared by the Fund's actuary estimates the increase in accrued liability due to HB 478 would be $2 million. The increase in annual cost is estimated to be $178,000, or 0.16% of payroll. The estimated annual cost will increase commensurate with payroll. JAN-31-2001 H FILED WITH CLERK JAN-31-2001 H ADDED AS A JOINT SPONSOR LYONS,JOSEPH JAN-31-2001 H ADDED AS A JOINT SPONSOR BUGIELSKI JAN-31-2001 H ADDED AS A JOINT SPONSOR BURKE JAN-31-2001 H ADDED AS A JOINT SPONSOR BRADLEY JAN-31-2001 H ADDED AS A CO-SPONSOR ACEVEDO JAN-31-2001 H ADDED AS A CO-SPONSOR MCAULIFFE JAN-31-2001 H ADDED AS A CO-SPONSOR SAVIANO JAN-31-2001 H FIRST READING JAN-31-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES FEB-06-2001 H ASSIGNED TO COMMITTEE PERS PENSION FEB-09-2001 H PENSION NOTE FILED FEB-09-2001 H COMMITTEE PERS PENSION FEB-23-2001 H DO PASS/SHORT DEBATE 011-000-000 HPPN FEB-23-2001 H PLACED CALENDAR 2ND READING-SHORT DEBATE FEB-28-2001 H SECOND READING-SHORT DEBATE FEB-28-2001 H PLCD CAL ORDER 3RD READING-SHORT DEBATE MAR-01-2001 H THIRD READING/SHORT DEBATE/PASSED 099-014-000 MAR-06-2001 S ARRIVE IN SENATE MAR-06-2001 S PLACED CALENDAR ORDER OF FIRST READING 01-03-07 MAR-07-2001 S CHIEF SPONSOR MOLARO MAR-07-2001 S FIRST READING MAR-07-2001 S REFERRED TO SENATE RULES COMMITTEE RULES APR-25-2001 S ASSIGNED TO COMMITTEE INS & PENS. MAY-08-2001 S DO PASS 009-000-000 SINS MAY-08-2001 S PLACED ON CALENDAR ORDER OF 2ND READING 01-05-09 MAY-16-2001 S SECOND READING MAY-16-2001 S PLACED ON CALENDAR ORDER OF 3RD READING 01-05-17 MAY-18-2001 S THIRD READING - PASSED 057-000-000 MAY-18-2001 H PASSED BOTH HOUSES MAY-22-2001 H SENT TO THE GOVERNOR JUL-12-2001 H GOVERNOR APPROVED JUL-12-2001 H EFFECTIVE DATE 01-07-12 JUL-12-2001 H PUBLIC ACT.............................. 92-0053 END OF INQUIRY Full Text Bill Summary