Legislation 99th General Assembly (2015-2016)
Sponsor(s): Senator Daniel Biss
SR 0317- Tier 2 Pension Impact Study
SR 317 urges the Teachers Retirement System (“TRS”) and State Universities Retirement System (“SURS”) to pursue an Internal Revenue Service ruling on the compliance of Tier II with safe harbor provisions under the Internal Revenue Code.
SR 317 resolves that TRS and SURS provide a detailed analysis of the financial impact that the Governor’s proposal would have on people currently in Tier I and that the report be completed prior to consideration of the Governor’s proposal to move Tier I participants into Tier II.
SR 317, as amended, is identical to HR 358 of the 99th General Assembly, as introduced.Status: