91st General Assembly Summary of HB3832    [ Home ]   [ Back ]   [ Legislation ]

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House Sponsors:
KLINGLER-POE.

Short description: 
PEN CD-SERS-13TH CHECK                                                     

Synopsis of Bill as introduced:
        Amends the State Employee Article of the Illinois  Pension  Code.      
   Provides  an  additional  benefit  payment  for  certain survivors and      
   retirees.  Applies only to fiscal  years  before  2005  in  which  the      
   System's  return  on  investment exceeds the actuarial assumed rate of      
   return.  Effective immediately.                                             
          PENSION NOTE (Pension Laws Commission)                               
          There is no increase in accrued liability associated with            
          HB 3832, but there would be an increase in State contributions       
          over time (by an amount that cannot be determined), as some          
          investment returns would be paid out as benefits instead of          
          reinvested.                                                          
 
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 


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