92nd General Assembly Summary of HB1062    [ Home ]   [ Back ]   [ Legislation ]

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House Sponsors:
SMITH,MICHAEL.

Short description: 
PEN CD-SERS-REPAY REFUND                                                   

Synopsis of Bill as introduced:
        Amends the State Employee Article of the Illinois  Pension  Code.      
   Allows  a  former member to reinstate credits that were forfeited upon      
   taking a refund, by repaying the amount of the refund, plus  interest.      
   Effective immediately.                                                      
          PENSION NOTE (Pension Laws Commission)                               
          The fiscal impact of HB 1062 is expected to be small, as the         
          employee must pay the System the amount of the refund plus           
          interest calculated from the date of the refund to the date          
          of the repayment.                                                    
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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