DAVIS,STEVE. 40 ILCS 5/14-104 from Ch. 108 1/2, par. 14-104 Amends the State Employee Article of the Pension Code to allow purchase of certain military service credits at a reduced cost. Effective immediately. PENSION NOTE (Pension Laws Commission) SERS estimates there are over 10,000 employees with qualifying military service credit at a cost roughly estimated to be $4,655 per member. If every member of SERS with prior military service purchases the credit, accrued liability would increase by an estimated $46.6 million. Assuming only 50% of SERS mem- bers with prior military service purchased the credit (which is more likely) it is estimated accrued liability would increase by $23.3 million. 99-01-05 H PREFILED WITH CLERK 99-01-14 H FIRST READING 99-01-14 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-01-27 H ASSIGNED TO COMMITTEE PERS PENSION 99-02-08 H PENSION NOTE FILED 99-02-08 H COMMITTEE PERS PENSION 99-03-05 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL 01-01-09 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary