LUECHTEFELD-MYERS,J-DONAHUE-BOWLES-REA AND CLAYBORNE.
SURS-HEALTH-FLAT RATE OPT-OUT
Synopsis of Bill as introduced:
Amends the State Employees Group Insurance Act of 1971 and the
Illinois Pension Code to allow certain participants in the State
Universities Retirement System to elect to forgo certain changes in
the retirement annuity formula made by Public Act 90-65 and thereby
avoid the additional cost of group health insurance imposed under that
Public Act. Eliminates provisions relating to "new SURS retired
employees". Effective immediately.
PENSION NOTE (Pension Laws Commission)
SB211 may reduce unfunded liabilities and annual cost of SURS
very slightly. Health insurance premiums paid by the State
would increase by an undetermined amount.
Last action on Bill: PUBLIC ACT.............................. 91-0395
Last action date: 99-07-30
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status