92nd General Assembly
Status of HB4088
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 Full Text  Bill Summary

   40 ILCS 5/15-135.1                                                          

        Amends the State Universities Article  of  the  Illinois  Pension      
   Code.    Allows certain participants 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.  Effective immediately.                                         
          PENSION NOTE (Illinois Pension Laws Commission)                      
          The fiscal impact of HB 4088 cannot be determined, as the num-       
          ber of members who will retroactively elect to retire under the      
          provisions of SURS prior to Public Act 90-0065 is unknown.           
          HB 4088 may reduce the unfunded liabilities and annual cost of       
          SURS very slightly. The premiums paid by the State for SURS re-      
          tirees' health insurance will increase by an undetermined            
   JAN-29-2002  H  FILED WITH CLERK                                               
   JAN-29-2002  H  FIRST READING                                                  
   JAN-29-2002  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   FEB-15-2002  H                        PENSION NOTE FILED                       
   FEB-15-2002  H                   COMMITTEE               RULES                 
   JAN-07-2003  H  SESSION SINE DIE                                               


 Full Text  Bill Summary