Senate Sponsors: MYERS. Short description: PEN CD-UNIV-30 YEARS ANY AGE Synopsis of Bill as introduced: Amends the State Universities Article of the Illinois Pension Code. Allows retirement at any age with 30 years of service. Effective immediately. PENSION NOTE (Pension Laws Commission) According to the System's actuary, SB 584 would increase the accrued liability of SURS by $61.4 million. The estimated in- crease in FY 2002 employer contributions is $0.1 million, or 0.01% of payroll. The increase in employer contributions in FY 2010 is estimated to be $1.3 million, or 0.03% of payroll. After 2010, the increase in required contributions is expected to remain 0.03% of payroll for the remainder of the Public Act 88-0593 funding period. 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