91st General Assembly Summary of HB0221    [ Home ]   [ Back ]   [ Legislation ]

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House Sponsors:
KLINGLER-LEITCH-POE.

Short description: 
PEN CD-SOCIAL SECURITY OFFSET                                              

Synopsis of Bill as introduced:
        Amends the State Employee Article of the Illinois Pension Code to      
   remove the Social Security offset against widow and survivor annuities      
   for all annuitants, beginning January 1, 2000. Effective immediately.       
          PENSION NOTE (Ill. Pension Laws Commission)                          
          HB 221 would increase the accrued liabilities of the SERS by an      
          estimated $291 million. The estimated increase in the required       
          annual State contribution, per P.A. 88-593, is shown below.          
          Fiscal Year            Est. Payroll        Est. Contributions        
          2000                   $3,222.0                 $0.0                 
          2001                    3,326.0                  0.0                 
          2005                    3,766.0                  9.7                 
          2010                    4,374.0                 60.0                 
          2020                    6,040.0                 82.9                 
          2030                    8,794.0                 72.0                 
          2045                   15,902.0                218.2                 
 
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 


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