Friday, May 3, 2013

Senate Bill 1 Passes the House Pension Reform Status Update: 

On May 2, 2013 Senate Bill 1 passed the house with a vote of 61 / 52 / 2.

To review the breakdown of the vote, click here.

SB 1 (as amended by Amendment #3)
Choice of Health Insurance or COLAs for TRS Only
Sponsors: President Cullerton, Speaker Madigan

SB 1 would affect only members of the Teachers Retirement System who are not yet retired. SB 1 requires those members to choose between COLAs or state-sponsored retiree health insurance and future salary increases. SURS members are not impacted by SB 1.

Read the entirety of SB 1 here.

SB1 is expected to arrive in the state senate next week. 

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