92nd General Assembly
Summary of SB0408
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Senate Sponsors:
LUECHTEFELD-MAITLAND.

Short description: 
PEN CD-UNIV-SURVIVORS INCR-60%                                             

Synopsis of Bill as introduced:
        Amends the State Universities Article of  the  Illinois  Pension       
   Code.   Increases  the minimum survivor benefit from 50% to 60% of the      
   retirement annuity.  Effective immediately.                                 
          PENSION NOTE (Illinois Pension Laws Commission)                      
          SB 408 would increase the accrued liability of SURS by $76           
          million. Total employer contributions would increase by 0.35%        
          of payroll (to 11.33% of 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 



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