Illinois General Assembly - Bill Status for SB2886
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 Bill Status of SB2886  93rd General Assembly


Short Description:  PEN CD-IMRF-SLEP BENEFITS

Senate Sponsors
Sen. Denny Jacobs

Last Action
DateChamber Action
  1/11/2005SenateSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/7-142.1from Ch. 108 1/2, par. 7-142.1
40 ILCS 5/7-156from Ch. 108 1/2, par. 7-156
40 ILCS 5/7-169from Ch. 108 1/2, par. 7-169
40 ILCS 5/7-173.1from Ch. 108 1/2, par. 7-173.1
30 ILCS 805/8.28 new


Synopsis As Introduced
Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. Allows a sheriff's law enforcement employee (SLEP) to convert up to 10 years of non-SLEP service credit into SLEP credit by paying the difference in employee and employer contributions, plus interest. Increases the SLEP retirement formula to 2.5% of the final rate of earnings for each year of SLEP service. Increases the maximum pension payable to a SLEP from 75% to 80% of the final rate of earnings. Removes the 2-year service requirement for earning new benefits after a return to service as a SLEP. Increases the additional employee contribution paid by SLEPs to 2.5% of salary. Also eliminates the reduction in benefit imposed on a surviving spouse who is more than 5 years younger than the deceased member, for the surviving spouse of any member who dies on or after the effective date. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions 
DateChamber Action
  2/6/2004SenateFiled with Secretary by Sen. Denny Jacobs
  2/6/2004SenateFirst Reading
  2/6/2004SenateReferred to Rules
  1/11/2005SenateSession Sine Die

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