92nd General Assembly Summary of SB0182    [ Home ]   [ Back ]   [ Legislation ]

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Senate Sponsors:
LUECHTEFELD.

Short description: 
PEN CD-TRANSFER CHESTER TCHRS                                              

Synopsis of Bill as introduced:
        Amends the Illinois Pension Code.  In the case  of  DHS  security      
   employees  who  are  teachers,  allows current employees to elect (and      
   requires  future  hires)  to  participate  in  the  State   Employees'      
   Retirement   System  rather  than  the  Teachers'  Retirement  System;      
   authorizes persons  so  electing  to  transfer  credits  for  previous      
   service in that capacity.  Effective immediately.                           
          PENSION NOTE (Pension Laws Commission)                               
          The fiscal impact of SB 182 cannot be determined, as the amount      
          of service credit that would be transferred from TRS to SERS is      
          unknown. The fiscal impact is estimated to be minor, as the          
          person transferring the service credit is required to pay to         
          SERS the employee and employer contributions, plus interest          
          (less the amount transferred from TRS).                              
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: Senate

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


   END OF INQUIRY 


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