90th General Assembly
Summary of SB1368
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Senate Sponsors:

Short description: 
PEN CD-SURS-HEALTH INSUR ELECT                                             

Synopsis of Bill as introduced:
        Amends the State Employees Group Insurance Act of  1971  and  the      
   Illinois  Pension  Code.    Allows  certain  participants in the State      
   Universities Retirement Systems 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.  Also eliminates the additional insurance cost for certain      
   survivors.   Eliminates  provisions  relating  to  "new  SURS  retired      
   employees".  Effective immediately.                                         
          PENSION NOTE (Pension Laws Commission)                               
          The fiscal impact of SB1368 cannot be determined. The bill may       
          reduce the unfunded liabilities and annual costs of SURS very        
          slightly. The premiums paid for SURS retirees' health insurance      
          would increase by an undetermined amount.                            
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: Senate

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


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