MAITLAND-MADIGAN,R-PARKER. (HOEFT-MADIGAN,MJ-LINDNER-RONEN-CURRIE) 40 ILCS 5/15-112 from Ch. 108 1/2, par. 15-112 40 ILCS 5/15-113.2 from Ch. 108 1/2, par. 15-113.2 40 ILCS 5/15-113.3 from Ch. 108 1/2, par. 15-113.3 40 ILCS 5/15-113.4 from Ch. 108 1/2, par. 15-113.4 40 ILCS 5/15-113.7 from Ch. 108 1/2, par. 15-113.7 40 ILCS 5/15-125 from Ch. 108 1/2, par. 15-125 40 ILCS 5/15-139 from Ch. 108 1/2, par. 15-139 40 ILCS 5/15-143 from Ch. 108 1/2, par. 15-143 40 ILCS 5/15-153.2 from Ch. 108 1/2, par. 15-153.2 40 ILCS 5/15-157 from Ch. 108 1/2, par. 15-157 40 ILCS 5/15-167.2 from Ch. 108 1/2, par. 15-167.2 40 ILCS 5/15-168.1 new 40 ILCS 5/15-185 from Ch. 108 1/2, par. 15-185 40 ILCS 5/15-190 from Ch. 108 1/2, par. 15-190 40 ILCS 5/15-191 from Ch. 108 1/2, par. 15-191 40 ILCS 5/15-144 rep. Amends the State Universities Article of the Pension Code. Increases the System's authority to issue bonds, allowing up to $20,000,000 to be outstanding at any one time. Limits existing benefits by: (i) excluding certain earnings after June 30, 1997 from the calculation of the final rate of earnings; (ii) imposing additional requirements on return to service following a leave of absence; (iii) requiring a return to service within one year after discharge in order to obtain credit for military service; and (iv) removing a provision allowing beneficiaries to elect to receive death benefits in multiple payments. (Article 13, Section 5 of the Illinois Constitution may prevent these limitations from applying to certain current or former members.) For new participants only, limits credit for unused sick leave to a maximum of one year. Changes the definition of "effective rate of interest" by adding additional factors to be included in determining the rate, including the desirability of minimizing volatility in the rate from year to year; states that the change is a clarification of existing law. Changes provisions relating to the calculation of interest when purchasing military service credit. Deletes provisions that suspend or reduce the annuity of certain persons who return to employment after retirement. Grants the Secretary of the Board the power to issue subpoenas. Allows annuitants and beneficiaries to authorize withholding from their annuities and benefits. Allows the System to pay benefits to the trustee of a trust created for the benefit of a minor or person under legal disability; provides that the System is not responsible for determining the validity of the trust and must conclusively rely on the representations of the trustee. Also makes technical changes. Effective immediately. PENSION NOTE SB499 will have no major fiscal impact. SENATE AMENDMENT NO. 1. Deletes reference to: 40 ILCS 5/15-112 from Ch. 108 1/2, par. 15-112 40 ILCS 5/15-113.2 from Ch. 108 1/2, par. 15-113.2 40 ILCS 5/15-113.3 from Ch. 108 1/2, par. 15-113.3 40 ILCS 5/15-113.4 from Ch. 108 1/2, par. 15-113.4 40 ILCS 5/15-113.7 from Ch. 108 1/2, par. 15-113.7 40 ILCS 5/15-125 from Ch. 108 1/2, par. 15-125 40 ILCS 5/15-139 from Ch. 108 1/2, par. 15-139 40 ILCS 5/15-143 from Ch. 108 1/2, par. 15-143 40 ILCS 5/15-153.2 from Ch. 108 1/2, par. 15-153.2 40 ILCS 5/15-157 from Ch. 108 1/2, par. 15-157 40 ILCS 5/15-167.2 from Ch. 108 1/2, par. 15-167.2 40 ILCS 5/15-168.1 new 40 ILCS 5/15-185 from Ch. 108 1/2, par. 15-185 40 ILCS 5/15-190 from Ch. 108 1/2, par. 15-190 40 ILCS 5/15-191 from Ch. 108 1/2, par. 15-191 40 ILCS 5/15-144 rep. Adds reference to: 40 ILCS 5/16-153.2 rep. Deletes everything. Repeals an obsolete Section relating to the old health insurance benefit for retired downstate teachers. Effective immediately. PENSION NOTE, H-AM 1 There may be a minor increase in administrative costs. HOUSE AMENDMENT NO. 1. Deletes reference to: 40 ILCS 5/16-153.2 rep. Adds reference to: 40 ILCS 5/1-119 new 750 ILCS 5/503 from Ch. 40, par. 503 Deletes everything. Amends the General Provisions Article of the Pension Code to provide for the issuance of Qualified Illinois Domestic Relations Orders (QILDROs). Provides for a former spouse designated in a QILDRO to receive all or a specified portion of the retirement benefit or member's refund otherwise payable to a member or the member's beneficiary under the Code. Specifies conditions and procedures. Requires the member's written consent before a QILDRO is effective against a current member. Amends the Illinois Marriage and Dissolution of Marriage Act. Provides that pension benefits become marital property. Includes provisions for valuing pension benefits as marital property and other provisions. Effective July 1, 1999 or 6 months after becoming law, whichever is later. JUDICIAL NOTE, H-AM 1 No decrease or increase in need for the number of judges. CORRECTIONAL NOTE, H-AM 1 This bill has no fiscal or prison population impact. STATE DEBT NOTE, H-AM 1 There will be no impact on the level of State indebtedness. STATE MANDATES ACT FISCAL NOTE, H-AM 1 Fails to create a State mandate. HOME RULE NOTE, H-AM 1 Contains no language preempting home rule. FISCAL NOTE, H-AM 1 (State Employees' Retirement System) Estimated first year impact, $75,000 to $85,000; subsequent annual impact, $50,000. 97-02-05 S FIRST READING 97-02-05 S REFERRED TO SENATE RULES COMMITTEE RULES 97-02-19 S ASSIGNED TO COMMITTEE EXECUTIVE 97-02-28 S TO SUBCOMMITTEE 97-03-05 S PENSION NOTE FILED 97-03-05 S COMMITTEE EXECUTIVE 97-03-15 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES 98-03-04 S ASSIGNED TO COMMITTEE INS & PENS. 98-03-10 S AMENDMENT NO. 01-INS & PENS. S 98-03-10 S ADOPTED 98-03-10 S DO PASS AS AMENDED 007-000-000 SINS 98-03-10 S PLACED ON CALENDAR ORDER OF 2ND READING 98-03-11 98-03-11 S SECOND READING 98-03-11 S PLACED ON CALENDAR ORDER OF 3RD READING 98-03-12 98-04-01 S THIRD READING - PASSED 055-002-000 98-04-01 H ARRIVE IN HOUSE 98-04-01 H PLACED CALENDAR ORDER OF FIRST READING 98-04-02 H HOUSE SPONSOR HOEFT 98-04-02 H FIRST READING 98-04-02 H REFERRED TO HOUSE RULES COMMITTEE RULES 98-04-21 H ASSIGNED TO COMMITTEE PERS PENSION 98-04-30 H DO PASS/SHORT DEBATE 013-000-000 HPPN 98-04-30 H PLACED CALENDAR 2ND READING-SHORT DEBATE 98-05-01 H FISCAL NOTE REQUESTED CURRIE 98-05-01 H PENSION NOTE REQUESTED CURRIE 98-05-01 H CALENDAR ORDER 2ND READING-SHORT DEBATE 98-05-06 H AMENDMENT NO. 01-MADIGAN,MJ 98-05-06 H AMENDMENT REFERRED TO HRUL 98-05-06 H CALENDAR ORDER 2ND READING-SHORT DEBATE 98-05-06 H ADDED AS A JOINT SPONSOR MADIGAN,MJ 98-05-07 H AMENDMENT NO. 01-MADIGAN,MJ 98-05-07 H RULES REFERS TO HPPN 98-05-07 H CALENDAR ORDER 2ND READING-SHORT DEBATE 98-05-11 H PENSION NOTE FILED AS AMENDED BY HOUSE AMEND #1 98-05-11 H CALENDAR ORDER 2ND READING-SHORT DEBATE 98-05-12 H AMENDMENT NO. 01-MADIGAN,MJ 98-05-12 H BE APPROVED FOR CONSIDERATION HPPN 98-05-12 H ADDED AS A JOINT SPONSOR LINDNER 98-05-12 H AMENDMENT NO. 02-CURRIE 98-05-12 H AMENDMENT REFERRED TO HRUL 98-05-12 H CALENDAR ORDER 2ND READING-SHORT DEBATE 98-05-13 H ADDED AS A JOINT SPONSOR RONEN 98-05-13 H ADDED AS A JOINT SPONSOR CURRIE 98-05-13 H FISCAL NOTE REQUEST-WITHDRAWN CURRIE 98-05-13 H SECOND READING-SHORT DEBATE 98-05-13 H AMENDMENT NO. 01-MADIGAN,MJ 98-05-13 H ADOPTED 98-05-13 H FISCAL NOTE REQUESTED AS AMENDED BY HA #1/DANIELS 98-05-13 H STATE MNDT FISCAL NOTE RQSTD AS AMENDED BY HA #1/DANIELS 98-05-13 H CORRECTIONAL NOTE REQUESTED AS AMENDED BY HA #1/DANIELS 98-05-13 H HOME RULE NOTE REQUESTED AS AMENDED BY HA #1/DANIELS 98-05-13 H JUDICIAL NOTE REQUESTED AS AMENDED BY HA #1/DANIELS 98-05-13 H CORRECTIONAL NOTE FILED AS AMENDED BY HOUSE AMEND #1 98-05-13 H JUDICIAL NOTE FILED AS AMENDED BY HOUSE AMEND #1 98-05-13 H ST DEBT IMPACT NOTE FILED AS AMENDED BY HOUSE AMEND #1 98-05-13 H STATE MNDT FISCAL NOTE FILED AS AMENDED BY HOUSE AMEND #1 98-05-13 H HOME RULE NOTE FILED AS AMENDED BY HOUSE AMEND #1 98-05-13 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE 98-05-14 H FISCAL NOTE FILED AS AMENDED BY HOUSE AMEND #1 98-05-14 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 98-05-14 H THIRD READING/SHORT DEBATE/PASSED 116-000-000 98-05-14 S SECRETARYS DESK - CONCURRENCE 01 98-05-15 S ADDED AS A CHIEF CO-SPONSOR PARKER 98-05-19 S FILED WITH SECRETARY 98-05-19 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01/MAITLAND 98-05-19 S MOTION REFERRED TO SRUL 98-05-19 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01/MAITLAND 98-05-19 S BE APPROVED FOR CONSIDERATION SRUL 98-05-19 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01/MAITLAND 98-05-19 S SEN CONCURS IN HSE AMENDMENTS (NO.) 01/050-002-001 98-05-19 S PASSED BOTH HOUSES 98-06-17 S SENT TO THE GOVERNOR 98-08-14 S GOVERNOR VETOED 98-11-05 S PLACED CALENDAR TOTAL VETO NOVEMBER 17, 1998 98-11-19 S TOTAL VETO STANDS END OF INQUIRY Full Text Bill Summary