SB 588

  • Illinois Senate Bill
  • 93rd Regular Session
  • Introduced in Senate
  • Senate
  • House
  • Governor

Pen Cd-Surs-Purchasing Power

Abstract

Amends the State Universities Article of the Illinois Pension Code. Declares it to be the public policy of this State and the intention of the General Assembly to protect annuitants against significant decreases in the purchasing power of retirement and survivor's annuities. Directs the System to review and report on significant changes in purchasing power. Provides for a one-time increase in certain retirement and survivor's annuities. Requires the resulting liability to be paid on a level dollar basis over a period of 10 years beginning July 1, 2005. Effective immediately.

Bill Sponsors (1)

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Jan 11, 2005

Senate

Session Sine Die

Jul 01, 2003

Senate

Pursuant to Senate Rule 3-9(b) / Referred to Rules

Apr 04, 2003

Senate

Third Reading Deadline Extended - Rule 2-10(e) to April 9, 2003.

Mar 25, 2003

Senate

Fiscal Note Filed

Mar 24, 2003

Senate

Added as Co-Sponsor Sen. Richard J. Winkel, Jr.

Mar 18, 2003

Senate

Fiscal Note Requested by Sen. Bill Brady

Mar 13, 2003

Senate

Do Pass Insurance & Pensions; 010-000-000

Senate

Placed on Calendar Order of 2nd Reading March 18, 2003

Mar 05, 2003

Senate

To Subcommittee

Feb 28, 2003

Senate

Pension Note Filed As Introduced

Feb 27, 2003

Senate

Postponed - Insurance & Pensions

Feb 19, 2003

Senate

Assigned to Insurance & Pensions

Feb 18, 2003

Senate

First Reading

Senate

Referred to Rules

Senate

Filed with Secretary by Sen. James F. Clayborne, Jr.

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