91st General Assembly
Status of HB4145
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SMITH,MICHAEL.

   40 ILCS 5/15-112          from Ch. 108 1/2, par. 15-112                     
   40 ILCS 5/15-113.2        from Ch. 108 1/2, par. 15-113.2                   
   40 ILCS 5/15-120          from Ch. 108 1/2, par. 15-120                     
   40 ILCS 5/15-132.2 new                                                      
   40 ILCS 5/15-134.5                                                          
   40 ILCS 5/15-136.4                                                          
   40 ILCS 5/15-141          from Ch. 108 1/2, par. 15-141                     

        Amends the State Universities Article  of  the  Illinois  Pension      
   Code.  Makes  changes  concerning the calculation of the final rate of      
   earnings. Provides that service for leaves of  absence  shall  include      
   periods  of  leaves  of  absence  at 50% or greater pay. Provides that      
   after a joint  and  survivor  annuity  commences  under  the  portable      
   benefit  package,  the  survivor annuitant is not disqualified and may      
   not be removed as the survivor  annuitant  by  a  dissolution  of  the      
   survivor's marriage with the participant or annuitant. Provides that a      
   newly  eligible  employee  has  6  months  (now  60  days) to elect to      
   participate in the portable benefit package or the self-managed  plan.      
   Provides  that  a  newly eligible employee may make a late election to      
   participate in the portable benefit package or the  self-managed  plan      
   at  any  time  within  6  months  after  the  effective  date  of this      
   amendatory Act. Provides that a participant may  elect  to  receive  a      
   lump  sum  retirement  benefit  instead of the normal form of annuity.      
   Provides that if the recipient of a  pre-retirement  survivor  annuity      
   dies  before  an amount equal to all accumulated normal and additional      
   contributions as of  the  date  of  death  have  been  paid  out,  the      
   remaining  difference  shall  be  paid  to  the  member's beneficiary.      
   Effective immediately.                                                      
          PENSION NOTE (Pension Laws Commission)                               
          The fiscal impact of HB 4145 is very minor.                          
   00-02-02  H  FILED WITH CLERK                                               
   00-02-02  H  FIRST READING                                                  
   00-02-02  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   00-02-10  H                        PENSION NOTE FILED                       
   00-02-10  H                   COMMITTEE               RULES                 
   01-01-09  H  SESSION SINE DIE                                               

   END OF INQUIRY 



 Full Text  Bill Summary