SB 1486 Illinois Senate · 94th Regular Session

PEN CD-SURS-PURCHASING POWER

Summary

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, 2007. Effective immediately.

Bill status failed 1 of 4 stages cleared

Introduction

Mar 2005

Committee Review

Floor Vote

Governor

Introduced Mar 11, 2005 Last action Jan 9, 2007

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Full legislative history

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Committee

Jan 9, 2007

Senate · Failed

Session Sine Die

Mar 18, 2005

Senate · Referred to committee

Rule 3-9(a) / Re-referred to Rules

Mar 9, 2005

Senate · Reported by committee

To Subcommittee

Mar 2, 2005

Senate · Referred to committee

Assigned to Pensions & Investments

Feb 23, 2005

Senate · Referred to committee

Referred to Rules

0 primary · 1 co-sponsor