91st General Assembly
Status of HB0123
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HARTKE.

   40 ILCS 5/14-107          from Ch. 108 1/2, par. 14-107                     

        Amends the State Employee Article of the Illinois  Pension  Code.      
   Provides  that  a  person with at least 34 years of creditable service      
   who has reached the 75% maximum pension shall be  deemed  to  have  35      
   years of service for purposes of avoiding the early retirement penalty      
   and   qualifying   for  the  automatic  annual  increase  in  annuity.      
   Effective immediately.                                                      
          PENSION NOTE (Pension Laws Commission)                               
          Impact has not been calculated, but is estimated to be minor,        
          as HB 123 only affects approximately 2,000 members of SERS.          
          PENSION NOTE, REVISED (Pension Laws Commission)                      
          HB 0123 would increase the accrued liability of the System by        
          an estimated $8.38 (based on the 1999 actuarial valuation). The      
          increase in total annual costs as a percent of payroll is 0.02%      
          ($0.75 million).                                                     
   99-01-11  H  PREFILED WITH CLERK                                            
   99-01-14  H  FIRST READING                                                  
   99-01-14  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   99-01-27  H       ASSIGNED TO COMMITTEE               PERS PENSION          
   99-02-08  H                        PENSION NOTE FILED                       
   99-02-08  H                   COMMITTEE               PERS PENSION          
   99-03-05  H  RE-REFERRED TO RULES COMM/RULE 19(A)     RULES         HRUL    
   00-02-24  H                        PENSION NOTE FILED REVISED               
   00-02-24  H                   COMMITTEE               RULES                 
   01-01-09  H  SESSION SINE DIE                                               

   END OF INQUIRY 



 Full Text  Bill Summary