92nd General Assembly
Summary of HB4088
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House Sponsors:

Short description: 
PEN CD-SURS-GRP INSUR ELECTION                                             

Synopsis of Bill as introduced:
        Amends the State Universities Article  of  the  Illinois  Pension      
   Code.    Allows certain participants to elect to forgo certain changes      
   in the retirement annuity formula made by Public Act 90-65 and thereby      
   avoid the additional cost of group health insurance imposed under that      
   Public Act.  Effective immediately.                                         
          PENSION NOTE (Illinois Pension Laws Commission)                      
          The fiscal impact of HB 4088 cannot be determined, as the num-       
          ber of members who will retroactively elect to retire under the      
          provisions of SURS prior to Public Act 90-0065 is unknown.           
          HB 4088 may reduce the unfunded liabilities and annual cost of       
          SURS very slightly. The premiums paid by the State for SURS re-      
          tirees' health insurance will increase by an undetermined            
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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