MAITLAND. 40 ILCS 5/15-140.1 new Amends the State Universities Article of the Illinois Pension Code. Provides for an additional payment to persons receiving a retirement or survivor annuity, equal to half the monthly benefit, to be paid on the December 31 next following a fiscal year in which the System's investment return is at least 190% of the prescribed rate of interest determined for that year by the Board. Effective immediately. PENSION NOTE (Pension Laws Commission) No increase in accrued liability; there would be costs, which would also increase State contributions, associated with loss of reinvestment of investment returns. SURS would have distri- buted $19 million, based on investment of returns of nearly 210%, in 11 of the last 27 years (41% of the time). 99-02-17 S FIRST READING 99-02-17 S REFERRED TO SENATE RULES COMMITTEE RULES 99-02-17 S ASSIGNED TO COMMITTEE INS & PENS. 99-03-02 S TO SUBCOMMITTEE 99-03-16 S PENSION NOTE FILED 99-03-16 S COMMITTEE INS & PENS. 99-03-20 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES 01-01-09 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary