Summary of Pension Reform Law

SURS provided a summary of Public Act 98-599 (Pension Reform) which includes information on the following topics:

• Automatic Annual Increase
• Retirement Age
• Pensionable Earnings Limitation
• Tier 1 Employee Contribution Decrease
• Money Purchase Formula Changes
• Optional Defined Contribution Plan
• State Funding

Click here to learn about how the law effects these issues and more.