Bill Title: Amends the General Assembly, Illinois Municipal Retirement Fund, State Employees, State Universities, Downstate Teachers, and Judges Articles of the Illinois Pension Code. Caps the highest salary for annuity purposes, final rate of earnings, final average compensation, and final average salary for current members, participants, and participating employees of the affected systems at $106,800, but authorizes that amount to be annually increased by the lesser of 3% or one-half of the annual percentage increase in the consumer price index-u for the 12 months ending with the September preceding each November 1. Requires employee contributions to also be based on these capped amounts. Effective July 1, 2011.
Spectrum: Partisan Bill (Democrat 6-0)
Status: (Failed) 2013-01-08 - Session Sine Die
[HB0146 Detail]
Bill Drafts
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| Introduced | Not Avail | HTML/Text | Link | View |
Amendments
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| No bill amendments currently on file for Illinois HB0146 |
Supplemental Documents
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| No supplemental documents for Illinois HB0146 currently on file. |
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