91st General Assembly Summary of SB0297    [ Home ]   [ Back ]   [ Legislation ]

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Senate Sponsors:
MAITLAND.

Short description: 
PEN CD-UNIV-SURVIVORS INCR-60%                                             

Synopsis of Bill as introduced:
        Amends the State Universities Article of the Illinois Pension          
   Code. Increases the minimum survivor benefit from 50% to 60% of the         
   retirement annuity.  Effective immediately.                                 
          PENSION NOTE (Pension Laws Commission)                               
          FY              Required Contribution                  %Payroll      
          2005                 $ 6.3 million                        0.20%      
          2010                  14.5 million                        0.35%      
          2020                  23.7 million                        0.35%      
          2030                  40.1 million                        0.35%      
          2040                  68.6 million                        0.35%      
          2045                  89.7 million                        0.35%      
 
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: Senate

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


   END OF INQUIRY 


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