90th General Assembly
Summary of SB0115
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Senate Sponsors:
DONAHUE AND DILLARD.

Short description: 
PEN CD-ST EMPL-ADMINISTRATIVE                                              

Synopsis of Bill as introduced:
        Amends the General Assembly Article of the Illinois Pension  Code      
   to  allow a refund of excess contributions to be paid to a beneficiary      
   designated by  the  member's  surviving  spouse.    Amends  the  State      
   Employee  Article  of the Illinois Pension Code.  Authorizes the Board      
   to adopt rules governing the repayment of refunds and establishment of      
   credits in cases  involving  awards  of  back  pay  or  reinstatement.      
   Provides  that  the  rules  may  authorize  repayment  of  a refund in      
   installment payments and may waive the payment of interest  on  refund      
   amounts  repaid  in  full  within  a specified period.  Specifies that      
   members of certain professional licensing and disciplinary boards  who      
   are  compensated on a per-diem basis do not participate in the System.      
   Removes  the  requirement  that  certain  security  employees  of  the      
   Department of Corrections or Human Services must be employed full-time      
   in order to qualify for their special retirement formula.  Amends  the      
   Social  Security  Enabling  Act  Article of the Illinois Pension Code.      
   Abolishes the Social  Security  Contribution  Fund  at  the  close  of      
   business  on  June 30, 1997.  Deletes obsolete references to the Fund.      
   Transfers   any   remaining   balance   into   the   Social   Security      
   Administration Fund.  Effective immediately.                                
          PENSION IMPACT NOTE                                                  
          SB 115 will have an minimal fiscal impact on these retirement        
          systems.                                                             
 
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: Senate

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


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 Full Text  Bill Status