92nd General Assembly
Summary of SB0411
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Senate Sponsors:
LUECHTEFELD-MAITLAND.

Short description: 
PEN CD-UNIV-DISABILITY 3% INCR                                             

Synopsis of Bill as introduced:
        Amends the State Universities Article  of  the  Illinois  Pension      
   Code.   Changes  the  initial  automatic annual increase in disability      
   benefit from 7%, payable after 4 years, to 0.25% for each  full  month      
   since  the  benefit began, payable on the January 1 next following the      
   granting of the benefit.  Effective immediately.                            
          PENSION NOTE (Pension Laws Commission)                               
          The System's actuary has estimated that SB 411 will increase         
          the actuarial liability of SURS by $6.2 million.  The increase       
          in State contributions has not been calculated but is expected       
          to be minor.                                                         
 
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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