MADIGAN,R. 40 ILCS 5/7-151 from Ch. 108 1/2, par. 7-151 40 ILCS 5/7-152 from Ch. 108 1/2, par. 7-152 40 ILCS 5/7-166 from Ch. 108 1/2, par. 7-166 40 ILCS 5/7-172 from Ch. 108 1/2, par. 7-172 30 ILCS 805/8.25 new Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. Extends the duration of certain disability benefits to the age at which the recipient becomes eligible for a full Social Security old-age insurance benefit. Authorizes the payment of a separation benefit to a person who is entitled to a retirement annuity, but wishes instead to use the amounts to his or her credit in the Fund to purchase credit in another retirement plan. Changes the amortization period used in calculating certain employer contributions, from 40 years to the period that is allowable under generally accepted accounting principles. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) There would be a fiscal impact associated with SB 566, but it has not been determined. Extending the duration of total and permanent disability benefits and changing the amortization period may significantly impact some employers. FEB-21-2001 S FIRST READING FEB-21-2001 S REFERRED TO SENATE RULES COMMITTEE RULES FEB-28-2001 S ASSIGNED TO COMMITTEE INS & PENS. MAR-06-2001 S TO SUBCOMMITTEE MAR-12-2001 S PENSION NOTE FILED AS INTRODUCED MAR-12-2001 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 END OF INQUIRY Full Text Bill Summary