PEN CD-SERS-SERVICE CREDIT
Synopsis of Bill as introduced:
Amends the State Employee Article of the Illinois Pension Code.
Allows purchase of service credit for certain periods of leave of
absence beginning before 1982 and lasting up to 2 years. Allows a
member who is an active contributor to another reciprocal system to
establish service credit for certain periods, including certain
periods of military service not interrupting employment. Bases the
contribution rate on the type of service to be established. Also
makes technical changes. Effective immediately.
PENSION NOTE (Pension Laws Commission)
The fiscal impact of SB 68 cannot be determined as the amount
of service credit that would be purchased is unknown. The fis-
cal impact is expected to be minor, as the employee must pay
both the employee and employer contributions, plus interest
calculated from the beginning of the leave of absence to the
date of payment.
Last action on Bill: SESSION SINE DIE
Last action date: JAN-07-2003
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status