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SURS serves over 228,000 active and inactive members and benefit recipients throughout the world. [3] SURS is considered a component unit of the State of Illinois’ financial reporting entity and is included in the state's financial reports as a pension trust fund. SURS is governed by Section 5/15, Chapter 40, of the Illinois Compiled Statutes ...
The Illinois Public Pension Amendment was a proposed amendment to the Illinois state constitution. On November 6, 2012, Illinois voters rejected it in a statewide referendum. [1] A legislatively referred constitutional amendment, if approved, it would have amended the Constitution of Illinois. [1]
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The Social Security Fairness Act (SSFA), which was recently signed into law on Jan. 5, by President Joe Biden, eliminates rules that reduce Social Security benefits for those who also get income ...
Changes from the “Tier I” pension law include raising the minimum eligibility to draw a retirement benefit to age 67 with 10 years of service, initiating a cap on the salaries used to calculate retirement benefits, and limiting cost-of-living annuity adjustments to the lesser of 3 percent or half of the annual increase in the Consumer Price ...
The Social Security Fairness Act cleared a key procedural hurdle Wednesday, soaring past the 60 votes it needs to advance by a vote of 73-27. This puts the legislation on a glide path toward final ...
The proposed amendment was on the ballot during the November 3, 2020 election in Illinois as a legislatively referred constitutional amendment. [1] In order to be approved, the measure needed to receive either 60% support among those specifically voting on the amendment or support from 50% of all ballots cast in the state's November elections.
The Illinois state government has numerous departments, but the so-called code departments provide most of the state's services. [1] [2] Code departments.