92nd General Assembly
Status of SB0171
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MADIGAN,R-MAITLAND-MAHAR-LUECHTEFELD-MYERS, 
   JONES,W, CRONIN, BOMKE, WATSON AND PETERSON.

   40 ILCS 5/14-114          from Ch. 108 1/2, par. 14-114                     
   40 ILCS 5/14-114.1 new                                                      
   40 ILCS 5/14-119          from Ch. 108 1/2, par. 14-119                     
   40 ILCS 5/14-121          from Ch. 108 1/2, par. 14-121                     
   40 ILCS 5/14-128          from Ch. 108 1/2, par. 14-128                     
   40 ILCS 5/14-131          from Ch. 108 1/2, par. 14-131                     
   40 ILCS 5/15-136          from Ch. 108 1/2, par. 15-136                     
   40 ILCS 5/15-136.3                                                          
   40 ILCS 5/15-137.1 new                                                      
   40 ILCS 5/15-145          from Ch. 108 1/2, par. 15-145                     
   40 ILCS 5/15-155          from Ch. 108 1/2, par. 15-155                     
   40 ILCS 5/15-165          from Ch. 108 1/2, par. 15-165                     
   40 ILCS 5/16-133.1        from Ch. 108 1/2, par. 16-133.1                   
   40 ILCS 5/16-134.1 new                                                      
   40 ILCS 5/16-143.1        from Ch. 108 1/2, par. 16-143.1                   
   40 ILCS 5/16-158          from Ch. 108 1/2, par. 16-158                     
   40 ILCS 5/17-119          from Ch. 108 1/2, par. 17-119                     
   40 ILCS 5/17-119.2 new                                                      
   40 ILCS 5/17-122          from Ch. 108 1/2, par. 17-122                     
   30 ILCS 805/8.25 new                                                        

        Amends  the  State  Employee,  Universities,  and  Downstate  and      
   Chicago Teacher Articles of the Illinois Pension Code.  Declares it to      
   be the public policy of this State and the intention  of  the  General      
   Assembly  to  protect  annuitants against significant decreases in the      
   purchasing power of retirement and survivor's annuities.  Directs  the      
   affected  retirement  systems  to  review  and  report  on significant      
   changes in purchasing power.  Provides  for  a  one-time  increase  in      
   certain  retirement  and survivor's annuities.  Requires the resulting      
   liability to be paid on a level dollar basis over a period of 10 years      
   beginning July 1, 2003.  Amends the  State  Mandates  Act  to  require      
   implementation without reimbursement.  Effective immediately.               
          PENSION NOTE (Pension Laws Commission)                               
          SB 171 would increase the annuities of 26,850 retirees and           
          survivors and increase the accrued liabilities of the affected       
          systems by $251.1 million. The annual level dollar payment           
          required to amortize the increase in accrued liability over 10       
          years is estimated to be $33.4 million (excludes Chicago             
          Teachers' Pension Fund).                                             
           State Universities Retirement System                                
            Increase in accrued liability                  $ 31.3 million      
            Annual amortization payment over 10 years      $  6.1 million      
           Teachers' Retirement System                                         
            Increase in accrued liability                  $142.8 million      
            Annual amortization payment over 10 years      $ 21.3 million      
           State Employees' Retirement System                                  
            Increase in accrued liability                  $ 37.9 million      
            Annual amortization payment over 10 years      $  6.0 million      
           Chicago Teachers' Pension Fund                                      
            Increase in accrued liability                  $ 39.1 million      
            Annual amortization payment over 10 years      $  8.1 million      
   FEB-20-2001  S  FIRST READING                                                  
   FEB-20-2001  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   FEB-21-2001  S       ASSIGNED TO COMMITTEE               INS & PENS.           
   MAR-01-2001  S                        PENSION NOTE FILED AS INTRODUCED         
   MAR-06-2001  S       TO SUBCOMMITTEE                                           
   MAR-06-2001  S                   COMMITTEE               INS & PENS.           
   MAR-14-2001  S  ADDED AS A CO-SPONSOR                    LUECHTEFELD           
   MAR-31-2001  S  RE-REFERRED TO RULES COMM/RULE 3-9(A)    RULES                 
   MAY-08-2001  S  ADDED AS A CHIEF CO-SPONSOR              MAHAR                 
   MAY-08-2001  S  ADDED AS A CHIEF CO-SPONSOR              LUECHTEFELD           
   MAY-08-2001  S  ADDED AS A CHIEF CO-SPONSOR              MYERS                 
   MAY-08-2001  S  ADDED AS A CO-SPONSOR                    HAWKINSON             
   MAY-08-2001  S  ADDED AS A CO-SPONSOR                    JONES,W               
   MAY-09-2001  S  ADDED AS A CO-SPONSOR                    CRONIN                
   MAY-09-2001  S  ADDED AS A CO-SPONSOR                    BOMKE                 
   MAY-09-2001  S  ADDED AS A CO-SPONSOR                    WATSON                
   MAY-11-2001  S  ADDED AS A CO-SPONSOR                    PETERSON              
   JAN-07-2003  S  SESSION SINE DIE                                               

   END OF INQUIRY 



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