SMITH,MICHAEL. 40 ILCS 5/15-136.3 40 ILCS 5/15-146 from Ch. 108 1/2, par. 15-146 Amends the State Universities Article of the Illinois Pension Code. Provides for a change in the minimum survivor annuity. Provides for a compounded 3% annual increase in both retirement and survivor minimums. Effective immediately. PENSION NOTE (Pension Laws Commission) Increase in accrued liability $ 58.9 million Total annual cost in FY2000 (0.01% of payroll) $127,000 Increase in annual contributions FY2005 (0.03%) $ 0.9 million Increase in annual contributions FY2010 (0.05%) $ 2.2 million Increase in annual contributions FY2020 (0.05%) $ 3.5 million Increase in annual contributions FY2030 (0.05%) $ 6.0 million Increase in annual contributions FY2040 (0.05%) $10.2 million Increase in annual contributions FY2045 (0.05%) $13.3 million 99-02-11 H FIRST READING 99-02-11 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-02-17 H ASSIGNED TO COMMITTEE PERS PENSION 99-03-05 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL 99-03-09 H PENSION NOTE FILED 99-03-09 H COMMITTEE RULES 01-01-09 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary