92nd General Assembly
Status of SB0737
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 Full Text  Bill Summary

   40 ILCS 5/16-106          from Ch. 108 1/2, par. 16-106                     

        Amends the Downstate Teacher  Article  of  the  Illinois  Pension      
   Code.    Provides  for  participation  in the System by all new System      
   employees.  (Currently, the only System employees who are  allowed  to      
   participate are executives and persons who are certificated teachers.)      
   Effective immediately.                                                      
          PENSION NOTE (Pension Laws Commission)                               
          The coverage costs to SERS equals normal cost plus Social            
          Security contributions. SB 737 will decrease both employer           
          and employee normal costs as shown below.                            
           employer normal cost (including employer FICA)                      
            SERS/Social Security                                   10.05%      
            TRS                                                     7.84%      
           employee normal cost (including employee FICA)                      
            SERS/Social Security                                   10.20%      
            TRS                                                     9.00%      
   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-02-2001  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