91st General Assembly
Status of HB0114
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DAVIS,STEVE-HARTKE.

   40 ILCS 5/14-104          from Ch. 108 1/2, par. 14-104                     

        Amends the State Employee Article of the Pension  Code  to  allow      
   purchase  of  certain  military service credits without payment of the      
   associated interest.  Effective immediately.                                
          PENSION NOTE (Pension Laws Commission)                               
          SERS estimates there are over 10,000 employees with qualifying       
          military service credit at a cost roughly estimated to be            
          $3,500 per member. If every member of SERS with prior military       
          service purchases the credit, accrued liability would increase       
          by an estimated $35.0 million. Assuming only 50% of SERS mem-        
          bers with prior military service purchased the credit (which is      
          more likely) it is estimated accrued liability would increase        
          by $17.5 million.                                                    
   99-01-05  H  PREFILED WITH CLERK                                            
   99-01-14  H  FIRST READING                                                  
   99-01-14  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   99-01-27  H  ADDED AS A JOINT SPONSOR                 HARTKE                
   99-01-27  H       ASSIGNED TO COMMITTEE               PERS PENSION          
   99-02-08  H                        PENSION NOTE FILED                       
   99-02-08  H                   COMMITTEE               PERS PENSION          
   99-03-05  H  RE-REFERRED TO RULES COMM/RULE 19(A)     RULES         HRUL    
   01-01-09  H  SESSION SINE DIE                                               

   END OF INQUIRY 



 Full Text  Bill Summary