House Sponsors: SMITH,MICHAEL. Short description: PENCD-SERS-ALTERN-AAI ANY AGE Synopsis of Bill as introduced: Amends the State Employee Article of the Illinois Pension Code. Removes the age requirement for receiving the automatic annual increase in retirement annuity for persons who receive the alternative retirement formula. Effective immediately. PENSION NOTE (Illinois Pension Laws Commission) The Commission's actuary estimates that HB 5011 will increase the actuarial liability of the System by $83.5 million. The in- crease in annual costs is estimated to be $6.5 million or 0.18% affected of payroll, and 0.74% of alternative formula payroll. 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