92nd General Assembly
Summary of SB0409
   [ Home ]   [ Back ]   [ Legislation ]
Legislation:  
Please enter a bill number.



 Full Text  Bill Status
Senate Sponsors:
LUECHTEFELD-MAITLAND.

Short description: 
PEN CD-UNIV-INCREASE MINIMUM                                               

Synopsis of Bill as introduced:
        Amends the State Universities Article  of  the  Illinois  Pension      
   Code.    Provides  for  a  change  in  the  minimum  survivor annuity.      
   Effective immediately.                                                      
          PENSION NOTE (Pension Laws Commission)                               
          Currently, the minimum SURS (as well as SERS and TRS) sur-           
          vivor's annuity is 50% of the member's accrued or actual             
          annuity. SB 409 creates a minimum survivor's annuity of $17.50       
          per year of the member's service credit, up to a maximum of 30       
          years of service, beginning January 1, 2002. The System's            
          actuary estimates the cost of SB 409 to be minor.                    
 
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