92nd General Assembly
Status of HB0478
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CAPPARELLI-LYONS,JOSEPH-BUGIELSKI-BURKE-BRADLEY, 
   MCAULIFFE AND SAVIANO.

(MOLARO)

   40 ILCS 5/1-113           from Ch. 108 1/2, par. 1-113                      
   40 ILCS 5/13-213          from Ch. 108 1/2, par. 13-213                     
   40 ILCS 5/13-302          from Ch. 108 1/2, par. 13-302                     
   40 ILCS 5/13-306          from Ch. 108 1/2, par. 13-306                     
   40 ILCS 5/13-308          from Ch. 108 1/2, par. 13-308                     
   30 ILCS 805/8.25 new                                                        

        Amends the Metropolitan Water Reclamation District Article of the      
   Illinois Pension Code.   Provides  for  an  increase  in  the  child's      
   annuity,  the  minimum  retirement  annuity, and the minimum surviving      
   spouse annuity.   Allows  conversion  of  a  surviving  spouse's  term      
   annuity  into  a  minimum  surviving  spouse annuity.  Accelerates the      
   initial automatic annual increase by one month for persons retiring on      
   the last day of the month.  In the investment restrictions that  apply      
   to  the  Fund, provides that the total market (rather than book) value      
   of all stocks and convertible debt shall not exceed 65%  (rather  than      
   50%)  of  the  aggregate  market  (rather than book) value of all Fund      
   investments.  Also makes technical changes.  Amends the State Mandates      
   Act  to  require  implementation  without  reimbursement.    Effective      
   immediately.                                                                
          PENSION NOTE (Pension Laws Commission)                               
          An analysis prepared by the Fund's actuary estimates the             
          increase in accrued liability due to HB 478 would be $2              
          million. The increase in annual cost is estimated to be              
          $178,000, or 0.16% of payroll. The estimated annual cost             
          will increase commensurate with payroll.                             
   JAN-31-2001  H  FILED WITH CLERK                                               
   JAN-31-2001  H  ADDED AS A JOINT SPONSOR                 LYONS,JOSEPH          
   JAN-31-2001  H  ADDED AS A JOINT SPONSOR                 BUGIELSKI             
   JAN-31-2001  H  ADDED AS A JOINT SPONSOR                 BURKE                 
   JAN-31-2001  H  ADDED AS A JOINT SPONSOR                 BRADLEY               
   JAN-31-2001  H  ADDED AS A CO-SPONSOR                    ACEVEDO               
   JAN-31-2001  H  ADDED AS A CO-SPONSOR                    MCAULIFFE             
   JAN-31-2001  H  ADDED AS A CO-SPONSOR                    SAVIANO               
   JAN-31-2001  H  FIRST READING                                                  
   JAN-31-2001  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   FEB-06-2001  H       ASSIGNED TO COMMITTEE               PERS PENSION          
   FEB-09-2001  H                        PENSION NOTE FILED                       
   FEB-09-2001  H                   COMMITTEE               PERS PENSION          
   FEB-23-2001  H  DO PASS/SHORT DEBATE                     011-000-000   HPPN    
   FEB-23-2001  H  PLACED CALENDAR 2ND READING-SHORT DEBATE                       
   FEB-28-2001  H  SECOND READING-SHORT DEBATE                                    
   FEB-28-2001  H  PLCD CAL ORDER 3RD READING-SHORT DEBATE                        
   MAR-01-2001  H  THIRD READING/SHORT DEBATE/PASSED        099-014-000           
   MAR-06-2001  S  ARRIVE IN SENATE                                               
   MAR-06-2001  S  PLACED CALENDAR ORDER OF FIRST READING   01-03-07              
   MAR-07-2001  S  CHIEF SPONSOR                            MOLARO                
   MAR-07-2001  S  FIRST READING                                                  
   MAR-07-2001  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   APR-25-2001  S       ASSIGNED TO COMMITTEE               INS & PENS.           
   MAY-08-2001  S       DO PASS                             009-000-000   SINS    
   MAY-08-2001  S  PLACED ON CALENDAR ORDER OF 2ND READING  01-05-09              
   MAY-16-2001  S  SECOND READING                                                 
   MAY-16-2001  S  PLACED ON CALENDAR ORDER OF 3RD READING  01-05-17              
   MAY-18-2001  S  THIRD READING - PASSED                   057-000-000           
   MAY-18-2001  H  PASSED BOTH HOUSES                                             
   MAY-22-2001  H  SENT TO THE GOVERNOR                                           
   JUL-12-2001  H  GOVERNOR APPROVED                                              
   JUL-12-2001  H                            EFFECTIVE DATE 01-07-12              
   JUL-12-2001  H  PUBLIC ACT.............................. 92-0053               

   END OF INQUIRY 



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