92nd General Assembly
Status of SB0511
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 Full Text  Bill Summary

   40 ILCS 5/16-132          from Ch. 108 1/2, par. 16-132                     
   40 ILCS 5/16-133          from Ch. 108 1/2, par. 16-133                     

        Amends the Downstate Teacher Article of the Illinois Pension Code      
   to allow retirement at any age with 34 years  of  service.   Effective      
          PENSION NOTE (Pension Laws Commission)                               
          The System's actuary estimates SB 511 would increase the             
          accrued liability of TRS by $250 million. However, it should         
          be noted that the fiscal impact of SB 511 includes two compon-       
          ents - $63 million is the cost of the existing Early Retirement      
          Option (ERO), available through 2005, and $187 million is the        
          additional cost for a permanent 34-and-out provision.                
   FEB-20-2001  S  FIRST READING                                                  
   FEB-20-2001  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   FEB-28-2001  S       ASSIGNED TO COMMITTEE               INS & PENS.           
   MAR-01-2001  S                        PENSION NOTE FILED AS INTRODUCED         
   MAR-06-2001  S                                 POSTPONED                       
   MAR-20-2001  S                                 POSTPONED                       
   MAR-27-2001  S                                 POSTPONED                       
   MAR-27-2001  S                   COMMITTEE               INS & PENS.           
   MAR-31-2001  S  RE-REFERRED TO RULES COMM/RULE 3-9(A)    RULES                 
   JAN-07-2003  S  SESSION SINE DIE                                               


 Full Text  Bill Summary