91st General Assembly
Status of HB1373
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LOPEZ-ACEVEDO.

   40 ILCS 5/14-103.40 new                                                     
   40 ILCS 5/14-110          from Ch. 108 1/2, par. 14-110                     
   40 ILCS 5/14-110.1 new                                                      
   40 ILCS 5/14-114          from Ch. 108 1/2, par. 14-114                     

        Amends the State Employee Article of the Illinois Pension Code.        
   Provides a Deferred Retirement Option Plan for State Police, under          
   which a State Policeman who is at least age 50 with 20 years of             
   eligible creditable service may continue in active service for up to        
   3 years while having his or her retirement annuity paid into a special      
   account, to be distributed to the employee upon retirement.  Bases the      
   retirement  annuity on the employee's service and average salary as of      
   the time of joining the DROP plan.  Requires termination of service at      
   the end of the DROP plan participation period.  Effective immediately.      
          HOUSING AFFORDABILITY NOTE (Housing Development Authority)           
          No fiscal effect on a single-family residence.                       
          PENSION NOTE (Pension Laws Commission)                               
          Estimated increase in accrued liability of SERS is $60.5             
          million; estimated increase in total annual cost is 4.428% of        
          affected payroll.                                                    
   99-02-17  H  FIRST READING                                                  
   99-02-17  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   99-02-18  H       ASSIGNED TO COMMITTEE               PERS PENSION          
   99-02-22  H  ADDED AS A JOINT SPONSOR                 ACEVEDO               
   99-03-05  H  RE-REFERRED TO RULES COMM/RULE 19(A)     RULES         HRUL    
   99-03-09  H  HOUSING AFORDABILITY IMPCT NOTE FILED                          
   99-03-09  H                   COMMITTEE               RULES                 
   99-05-03  H                        PENSION NOTE FILED                       
   99-05-03  H                   COMMITTEE               RULES                 
   01-01-09  H  SESSION SINE DIE                                               

   END OF INQUIRY 



 Full Text  Bill Summary