MADIGAN,R. 40 ILCS 5/16-106 from Ch. 108 1/2, par. 16-106 Amends the Downstate Teacher Article of the Illinois Pension Code. Provides for participation in the System by all new System employees. (Currently, the only System employees who are allowed to participate are executives and persons who are certificated teachers.) Effective immediately. PENSION NOTE (Pension Laws Commission) The coverage costs to SERS equals normal cost plus Social Security contributions. SB 737 will decrease both employer and employee normal costs as shown below. employer normal cost (including employer FICA) SERS/Social Security 10.05% TRS 7.84% employee normal cost (including employee FICA) SERS/Social Security 10.20% TRS 9.00% FEB-21-2001 S FIRST READING FEB-21-2001 S REFERRED TO SENATE RULES COMMITTEE RULES FEB-28-2001 S ASSIGNED TO COMMITTEE INS & PENS. MAR-02-2001 S PENSION NOTE FILED AS INTRODUCED MAR-06-2001 S POSTPONED MAR-20-2001 S POSTPONED MAR-27-2001 S POSTPONED MAR-27-2001 S COMMITTEE INS & PENS. MAR-31-2001 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES JAN-07-2003 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary