Amends the State Universities and Downstate Teacher Articles of the Illinois Pension Code. Provides that, for academic years beginning on or after July 1, 2013, if the amount of a participant's earnings for any academic year used to determine the final rate of earnings, determined on a full-time equivalent basis, exceeds the amount of his or her earnings with the same employer for the previous academic year, determined on a full-time equivalent basis, by more than the unadjusted percentage increase in the consumer price index-u for that year (rather than 6%), then the participant's employer shall pay to the applicable System, in addition to all other payments required and in accordance with guidelines established by that System, the present value of the increase in benefits resulting from the portion of the increase in earnings that is in excess of the unadjusted percentage increase in the consumer price index-u for that year (rather than the present value of the increase in benefits resulting from the portion of the increase in earnings that is in excess of 6%). Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
No votes to display
Session Sine Die
Rule 19(a) / Re-referred to Rules Committee
Pension Note Filed
Added Co-Sponsor Rep. Thomas Morrison
Added Co-Sponsor Rep. Dwight Kay
Added Co-Sponsor Rep. Brad E. Halbrook
Added Co-Sponsor Rep. Ron Sandack
Added Co-Sponsor Rep. Darlene J. Senger
Added Co-Sponsor Rep. Jeanne M Ives
Added Co-Sponsor Rep. David McSweeney
Assigned to Personnel and Pensions Committee
Added Chief Co-Sponsor Rep. Barbara Wheeler
Filed with the Clerk by Rep. Pam Roth
Referred to Rules Committee
|Bill Text Versions||Format|
|No related documents.|
Data on Open States is updated periodically throughout the day from the official website of the Illinois General Assembly.
If you notice any inconsistencies with these official sources, feel free to file an issue.