Senate Sponsors: MOLARO. Short description: PEN CD-MWRD-ADMINISTRATIVE PKG Synopsis of Bill as introduced: 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) The estimated increase in accrued liability due to SB 185 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. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status