92nd General Assembly
Status of HB5010
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 Full Text  Bill Summary

   40 ILCS 5/14-114          from Ch. 108 1/2, par. 14-114                     
   40 ILCS 5/14-119          from Ch. 108 1/2, par. 14-119                     
   40 ILCS 5/14-121          from Ch. 108 1/2, par. 14-121                     
   40 ILCS 5/14-128          from Ch. 108 1/2, par. 14-128                     

        Amends the State Employee Article of the Illinois  Pension  Code.      
   Increases  the  automatic annual increase in annuity from 3% to 4% for      
   persons who receive the  alternative  retirement  formula,  for  their      
   surviving  spouses,  and  for  persons receiving an occupational death      
   benefit based on the death of a person who, on his or her last day  of      
   service,   was   earning   eligible   creditable  service.   Effective      
          PENSION NOTE (Illinois Pension Laws Commission)                      
          The Commission's actuary estimates that HB 5010 will increase        
          the accrued liability of the System by $299.1 million. The in-       
          crease in annual costs is estimated to be $28.6 million or           
          0.80% of total payroll, and 3.26% of alternative formula             
   FEB-06-2002  H  FILED WITH CLERK                                               
   FEB-06-2002  H  FIRST READING                                                  
   FEB-06-2002  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   FEB-22-2002  H                        PENSION NOTE FILED                       
   FEB-22-2002  H                   COMMITTEE               RULES                 
   JAN-07-2003  H  SESSION SINE DIE                                               


 Full Text  Bill Summary