PENCD-SERS-ALT FORMULA-4% AAI
Summary
Amends the State Employee Article of the Illinois Pension Code. Increases the automatic annual increase in annuity from 3% to 4% for persons who receive the alternative retirement formula, for their surviving spouses, and for persons receiving an occupational death benefit based on the death of a person who, on his or her last day of service, was earning eligible creditable service. Removes the age requirement for receiving the automatic annual increase in retirement annuity for persons who receive the alternative retirement formula. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2003
Committee Review
Floor Vote
Governor
Introduced Feb 20, 2003
Last action Jan 11, 2005
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
7
Key actions
0
Committee
3
Jan 11, 2005
House · Failed
Session Sine Die
Mar 13, 2003
House · Referred to committee
Rule 19(a) / Re-referred to Rules Committee
Feb 11, 2003
House · Referred to committee
Assigned to Executive Committee
Feb 10, 2003
House · Referred to committee
Referred to Rules Committee
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Michael K. Smith
DDemocratic
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