MADIGAN,MJ-CURRIE-MURPHY-POE-KLINGLER AND GRANBERG.
Synopsis of Bill as introduced:
Amends the Illinois Pension Code. Makes a technical change in a
Section concerning State employees.
PENSION NOTE (Pension Laws Commission)
House Bill 2671 has no fiscal impact.
SENATE AMENDMENT NO. 1.
Deletes reference to:
40 ILCS 5/14-101
Adds reference to:
30 ILCS 105/15a from Ch. 127, par. 151a
40 ILCS 5/14-105
40 ILCS 5/14-108.3
40 ILCS 5/16-133.3 from Ch. 108 1/2, par. 16-133.3
40 ILCS 15/1.6 new
Deletes everything. Amends the State Employee Article of the
Illinois Pension Code. Provides service credit for up to 5 days of
voluntary or involuntary furlough used to address a State fiscal
emergency. Amends the State Employee and Downstate Teacher Articles
of the Illinois Pension Code. Provides an early retirement incentive
program for certain State employees who terminate service on or before
December 31, 2002 (in certain cases, as late as April 30, 2003).
Allows purchase of up to 5 years of age enhancement and creditable
service; also removes the reduction for retirement between age 55 and
60. Requires the Illinois Pension Laws Commission to report on the
net savings or cost of the program. Requires the State to fund the
program through separate contributions made in fiscal years 2004
through 2013. Amends the State Pension Funds Continuing Appropriation
Act to guarantee those contributions through continuing
appropriations. Amends the State Finance Act to restrict personal
service contracts relating to the early retirees. Effective
Last action on Bill: PUBLIC ACT.............................. 92-0566
Last action date: JUN-25-2002
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1
END OF INQUIRY
Full Text Bill Status