PEN CD-SERS-DEFINED CONTRIB
Synopsis of Bill as introduced:
Amends the State Employee Article of the Illinois Pension Code.
Directs the Board to study and report on a defined contribution
retirement plan 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 966 merely
authorizes SERS to study and report on a defined contribution
plan. SB 966 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
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status