91st General Assembly
Summary of HB1449
   [ Home ]   [ Back ]   [ Legislation ]
Legislation:  
Please enter a bill number.



 Full Text  Bill Status
House Sponsors:
GRANBERG.

Short description: 
PEN CD-MIN RETMT & SURVIVOR                                                

Synopsis of Bill as introduced:
        Amends the State Employee, State Universities, Downstate Teacher,      
   and Chicago Teacher Articles of the Illinois Pension Code. Provides         
   for a minimum monthly retirement annuity of $35 for each year of ser-       
   vice credit up to 30. Provides for a minimum total monthly survivor's       
   annuity of $17.50 for each year of service credit up to 30. Amends          
   the State Mandates Act to require implementation without reimburse-         
   ment. Effective immediately.                                                
          PENSION NOTE (Pension Laws Commission)                               
          Estimated total increase in accrued liability of SERS, SURS,         
          TRS and CTRS is $281.0 million. In addition, TRS estimates           
          payout would increase by $10.0 million the first year.               
 
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 



 Full Text  Bill Status