92nd General Assembly Summary of SB0563    [ Home ]   [ Back ]   [ Legislation ]

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Senate Sponsors:
WALSH,L AND JACOBS.

Short description: 
PEN CD-IMRF-RETMT FORMULA INCR                                             

Synopsis of Bill as introduced:
        Amends the Illinois Municipal  Retirement  Fund  Article  of  the      
   Illinois  Pension  Code.  Increases the retirement formula and removes      
   the reduction for retirement before age 60.  Amends the State Mandates      
   Act  to  require  implementation  without  reimbursement.    Effective      
   immediately.                                                                
          PENSION NOTE (Pension Laws Commission)                               
          The fiscal impact of SB 563 has not been calculated, but would       
          be substantial.                                                      
 
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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