91st General Assembly
Status of HB4084
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 Full Text  Bill Summary

   40 ILCS 5/7-109.3         from Ch. 108 1/2, par. 7-109.3                    
   40 ILCS 5/7-109.4 new                                                       
   40 ILCS 5/7-142           from Ch. 108 1/2, par. 7-142                      
   40 ILCS 5/7-142.1         from Ch. 108 1/2, par. 7-142.1                    
   40 ILCS 5/7-142.2 new                                                       
   30 ILCS 805/8.24 new                                                        

        Amends the IMRF Article of the Pension Code.  Provides a Deferred      
   Retirement  Option  Plan  for  sheriff's  law  enforcement   employees      
   (SLEPs),  under which a person who is at least age 50 with 20 years of      
   SLEP 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 SLEP upon  retirement.    Bases  the  retirement      
   annuity  on  the  SLEP's service and salary at the time of joining the      
   DROP  plan.   Requires  termination  of  service   at   the   end   of      
   participation in the DROP plan.  Effective immediately.                     
          PENSION NOTE (Pension Laws Commission)                               
          Although the fiscal impact of HB 4084 is unknown, it may be          
          significant for SLEP employers, as a similar proposal for            
          State Police (SERS members) has an estimated cost of 4.428%          
          of affected payroll.                                                 
   00-01-31  H  FILED WITH CLERK                                               
   00-01-31  H  FIRST READING                                                  
   00-01-31  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   00-02-22  H  ADDED AS A JOINT SPONSOR                 HOFFMAN               
   00-03-10  H                        PENSION NOTE FILED                       
   00-03-10  H                   COMMITTEE               RULES                 
   01-01-09  H  SESSION SINE DIE                                               


 Full Text  Bill Summary