92nd General Assembly
Summary of HB2313
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House Sponsors:
SMITH,MICHAEL.

Short description: 
PEN CD-SERS-ALTERNATE SURVIVOR                                             

Synopsis of Bill as introduced:
        Amends the State Employee Article of the Illinois  Pension  Code.      
   Increases  the minimum total survivor's annuity benefit payable to the      
   survivor's annuity beneficiaries of a deceased member who was  earning      
   eligible  creditable  service at the time of termination of service or      
   of a deceased annuitant whose retirement annuity was calculated  under      
   the alternative formula.  Effective immediately.                            
          PENSION NOTE (Pension Laws Commission)                               
          HB 2313 would increase the accrued liability of SERS by an           
          estimated $65.0 million. The increase in annual cost has not         
          been calculated; however, the total cost increase amortized          
          over a 43-year period is 0.1796% of payroll.                         
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



 Full Text  Bill Status