91st General Assembly
Status of SB1702
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 Full Text  Bill Summary

   40 ILCS 5/14-115.1 new                                                      

        Amends the State Employee Article of the Illinois  Pension  Code.      
   Provides  an  additional  benefit  payment  for  certain survivors and      
   retirees.  Applies only to fiscal  years  before  2005  in  which  the      
   System's  return  on  investment exceeds the actuarial assumed rate of      
   return.  Effective immediately.                                             
          PENSION NOTE (Pension Laws Commission)                               
          There is no increase in accrued liability associated with            
          SB 1702, but there is a cost (that cannot be determined), as         
          some investment returns that would normally remain with SERS         
          to be reinvested would instead be paid out as benefits. This         
          would increase State contributions over time by an amount that       
          cannot be determined.                                                
   00-02-02  S  FIRST READING                                                  
   00-02-02  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   00-02-10  S                        PENSION NOTE FILED AS INTRODUCED         
   00-02-10  S                   COMMITTEE               RULES                 
   01-01-09  S  SESSION SINE DIE                                               


 Full Text  Bill Summary