Bill Status of HB0146 97th General Assembly
Short Description: PEN CD-SALARY-STATE SYS + IMRF
Rep. Jack D. Franks - Karen A. Yarbrough - Carol A. Sente - Deborah Mell, Thaddeus Jones and Elaine Nekritz
| 1/8/2013||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the General Assembly, Illinois Municipal Retirement Fund, State Employees, State Universities, Downstate Teachers, and Judges Articles of the Illinois Pension Code. Caps the highest salary for annuity purposes, final rate of earnings, final average compensation, and final average salary for current members, participants, and participating employees of the affected systems at $106,800, but authorizes that amount to be annually increased by the lesser of 3% or one-half of the annual percentage increase in the consumer price index-u for the 12 months ending with the September preceding each November 1. Requires employee contributions to also be based on these capped amounts. Effective July 1, 2011.