92nd General Assembly
Summary of HB2671
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House Sponsors:

Senate Sponsors:

Short description: 

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

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   1


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