SMITH,MICHAEL. 40 ILCS 5/14-114 from Ch. 108 1/2, par. 14-114 Amends the State Employee Article of the Illinois Pension Code. Removes the age requirement for receiving the automatic annual increase in retirement annuity for persons who receive the alternative retirement formula. Effective immediately. PENSION NOTE (Illinois Pension Laws Commission) The Commission's actuary estimates that HB 5011 will increase the actuarial liability of the System by $83.5 million. The in- crease in annual costs is estimated to be $6.5 million or 0.18% affected of payroll, and 0.74% of alternative formula payroll. FEB-06-2002 H FILED WITH CLERK FEB-06-2002 H FIRST READING FEB-06-2002 H REFERRED TO HOUSE RULES COMMITTEE RULES FEB-22-2002 H PENSION NOTE FILED FEB-22-2002 H COMMITTEE RULES JAN-07-2003 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary