92nd General Assembly
Status of HB5011
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 Full Text  Bill Summary

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

        Amends the State Employee Article of the Illinois  Pension  Code.      
   Removes  the  age  requirement  for  receiving  the  automatic  annual      
   increase in retirement annuity for persons who receive the alternative      
   retirement formula.  Effective immediately.                                 
          PENSION NOTE (Illinois Pension Laws Commission)                      
          The Commission's actuary estimates that HB 5011 will increase        
          the actuarial liability of the System by $83.5 million. The in-      
          crease in annual costs is estimated to be $6.5 million or            
          0.18% affected of payroll, and 0.74% 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