Senate Sponsors: PARKER. Short description: PEN CD-SERS-DEFINED CONTRIB Synopsis of Bill as introduced: Amends the State Employee Article of the Illinois Pension Code. Authorizes the Board to design and implement a defined contribution retirement plan for persons who first become members of the System on or after January 1, 2003, as an alternative to the benefits currently provided by the System. Effective immediately. PENSION NOTE (Pension Laws Commission) The fiscal impact cannot be determined, as SB 17 merely author- izes SERS to design and implement a defined contribution plan. SB 17 does not outline the funding, investments, or other aspects, of the defined contribution plan. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status