92nd General Assembly
Summary of HB0192
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House Sponsors:
SMITH,MICHAEL.

Short description: 
PEN CD-SURS-30 YRS AND OUT                                                 

Synopsis of Bill as introduced:
        Amends the State Universities Article  of  the  Illinois  Pension      
   Code.   Allows  retirement  at  any  age  with  30  years  of service.      
   Effective immediately.                                                      
          PENSION NOTE (Pension Laws Commission)                               
          HB 192 would increase the accrued liability of SURS by $61.4         
          million. The estimated increase in FY 2002 employer contribu-        
          tions is $0.1 million, or 0.01% of payroll, and in FY 2010 is        
          $1.3 million, or 0.03% of payroll. After 2010, the increase in       
          required contributions is expected to remain 0.03% of payroll        
          for the remainder of the PA 88-593 funding period.                   
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



 Full Text  Bill Status