SMITH,MICHAEL. 40 ILCS 5/15-153.3 from Ch. 108 1/2, par. 15-153.3 Amends the State Universities Article of the Illinois Pension Code. Changes the initial automatic annual increase in disability benefit from 7%, payable after 4 years, to 0.25% for each full month since the benefit began, payable on the January 1 next following the granting of the benefit. Effective immediately. PENSION NOTE (Pension Laws Commission) The System's actuary has estimated that HB 2368 will increase the actuarial liability of SURS by $6.2 million. The increase in State contributions has not been calculated but is expected to be minor. FEB-23-2001 H FILED WITH CLERK FEB-23-2001 H FIRST READING FEB-23-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES FEB-27-2001 H ASSIGNED TO COMMITTEE PERS PENSION MAR-12-2001 H PENSION NOTE FILED MAR-12-2001 H COMMITTEE PERS PENSION MAR-16-2001 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL JAN-07-2003 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary