92nd General Assembly
Summary of HB5701
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House Sponsors:
CAPPARELLI-BUGIELSKI-LYONS,JOSEPH-BURKE-
   BRADLEY AND MCAULIFFE.

Short description: 
PEN CD-MWRD-OPTIONAL PROGRAM                                               

Synopsis of Bill as introduced:
        Amends the Metropolitan Water Reclamation District Article of the      
   Illinois Pension Code.  Extends the program of optional  contributions      
   and benefits through December 31, 2007.  Provides for certain optional      
   contributions  to  be  made  on  a  tax-deferred  basis.   Makes other      
   changes.  Amends the State  Mandates  Act  to  require  implementation      
   without reimbursement.  Effective immediately.                              
          PENSION NOTE (Pension Laws Commission)                               
          Based on matching employer contributions, the Fund's actuary         
          estimates HB 5701 would increase annual employer costs by            
          $600,000, beginning in 2005 through 2009. In addition, the           
          new optional plan would increase the unfunded liability by           
          an estimated $1.8 million.                                           
 
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