DAVIS,STEVE-HARTKE. 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 without payment of the associated interest. 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 $3,500 per member. If every member of SERS with prior military service purchases the credit, accrued liability would increase by an estimated $35.0 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 $17.5 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 ADDED AS A JOINT SPONSOR HARTKE 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