92nd General Assembly
Summary of SB0017
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Senate Sponsors:

Short description: 
PEN CD-SERS-DEFINED CONTRIB                                                

Synopsis of Bill as introduced:
        Amends the State Employee Article of the Illinois  Pension  Code.      
   Authorizes  the  Board  to design and implement a defined contribution      
   retirement plan for persons who first become members of the System  on      
   or  after January 1, 2003, as an alternative to the benefits currently      
   provided by the System.  Effective immediately.                             
          PENSION NOTE (Pension Laws Commission)                               
          The fiscal impact cannot be determined, as SB 17 merely author-      
          izes SERS to design and implement a defined contribution plan.       
          SB 17 does not outline the funding, investments, or other            
          aspects, of the defined contribution plan.                           
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: Senate

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


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