PEN CD-GA-ACCELERATED 3% INCRS Senate SponsorsSen. John M. Sullivan-Barack Obama-Don Harmon, Patrick Welch-Jacqueline Y. Collins-Chris Lauzen and Mattie Hunter House Sponsors(Rep. Kurt M. Granberg-Deborah L. Graham-Karen A. Yarbrough) 8/8/2003SenatePublic Act . . . . . . . . . 93-0494 40 ILCS 5/2-119.1from Ch. 108 1/2, par. 2-119.1Amends the General Assembly Article of the Illinois Pension Code. Disqualifies persons who first become participants after the effective date from the provision allowing members with more than 20 years of service to earn 3% annual increases before withdrawal from service. Effective immediately.Pension Note (Pension Laws Commission) The fiscal impact of SB 1476 has not been calculated, but is expected to result in savings to the System as new members reach retirement age.Fiscal Note (State Retirement Systems) This bill would generate savings, but because of the constitutional provisions, it would only apply to new participants and savings would be deferred until after fiscal year 2025. 2/20/2003SenateFiled with Secretary by Sen. John M. Sullivan 2/20/2003SenateFirst Reading 2/20/2003SenateReferred to Rules 2/27/2003SenateAssigned to Insurance & Pensions 3/11/2003SenatePension Note Filed 3/13/2003SenateDo Pass Insurance & Pensions; 010-000-000 3/13/2003SenatePlaced on Calendar Order of 2nd Reading March 18, 2003 3/18/2003SenateFiscal Note Requested by Sen. Bill Brady 3/24/2003SenateFiscal Note Filed 4/4/2003SenateThird Reading Deadline Extended - Rule 2-10(e) to April 9, 2003. 4/8/2003SenateAdded as Chief Co-Sponsor Sen. Barack Obama 4/8/2003SenateSecond Reading 4/8/2003SenatePlaced on Calendar Order of 3rd Reading April 9, 2003 4/9/2003SenateAdded as Chief Co-Sponsor Sen. Don Harmon 4/9/2003SenateAdded as Co-Sponsor Sen. Patrick Welch 4/9/2003SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins 4/9/2003SenateAdded as Chief Co-Sponsor Sen. Chris Lauzen 4/9/2003SenateAdded as Co-Sponsor Sen. Mattie Hunter 4/9/2003SenateThird Reading - Passed; 057-000-000 4/9/2003HouseArrived in House 4/9/2003HousePlaced on Calendar Order of First Reading 5/1/2003HouseChief House Sponsor Rep. Kurt M. Granberg 5/1/2003HouseFirst Reading 5/1/2003HouseReferred to Rules Committee 5/5/2003HouseCommittee/3rd Reading Deadline Extended-Rule 9(b); May 31, 2003 5/5/2003HouseAssigned to Personnel and Pensions Committee 5/15/2003HouseDo Pass / Short Debate Personnel and Pensions Committee; 005-000-000 5/15/2003HousePlaced on Calendar 2nd Reading - Short Debate 5/20/2003HouseAdded Alternate Chief Co-Sponsor Rep. Deborah L. Graham 5/20/2003HouseAdded Alternate Chief Co-Sponsor Rep. Karen A. Yarbrough 5/23/2003HouseThird Reading/Final Action Deadline Extended-9(b) May 31, 2003 5/28/2003HouseSecond Reading - Short Debate 5/28/2003HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/29/2003HouseThird Reading - Short Debate - Passed 116-001-000 5/29/2003SenatePassed Both Houses 6/27/2003SenateSent to the Governor 8/8/2003SenateGovernor Approved 8/8/2003SenateEffective Date August 8, 2003 8/8/2003SenatePublic Act . . . . . . . . . 93-0494