MOLARO. 40 ILCS 5/14-103.12 from Ch. 108 1/2, par. 14-103.12 40 ILCS 5/16-133 from Ch. 108 1/2, par. 16-133 40 ILCS 5/16-140 from Ch. 108 1/2, par. 16-140 Amends the State Employee and Downstate Teacher Articles of the Illinois Pension Code. Changes the definitions of "final average salary" and "final average compensation" to allow consideration of periods outside the last 10 years of creditable service. Effective immediately. PENSION NOTE (Pension Laws Commission) The fiscal impact of SB 669 cannot be estimated, but is esti- mated to be very minor, as most employees receive the highest compensation within the last 10 years of service. Therefore, most employees would not receive larger benefits by allowing final average salary to be calculated using the 47 consecutive months of service in which total compensation was the highest. PENSION NOTE, REVISED (Pension Laws Commission) The fiscal impact of SB 669 cannot be estimated, but is esti- mated to be very minor, as most employees receive the highest compensation within the last 10 years of service. Therefore, most employees would not receive larger benefits by allowing final average salary to be calculated using the 48 consecutive months of service in which total compensation was the highest. 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-01-2001 S PENSION NOTE FILED AS INTRODUCED MAR-06-2001 S TO SUBCOMMITTEE MAR-31-2001 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES MAY-14-2001 S PENSION NOTE FILED REVISED/AS INTRO. MAY-14-2001 S COMMITTEE RULES JAN-07-2003 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary