House Sponsors: BLACK-POE-KLINGLER-TURNER,JOHN-HARTKE AND MITCHELL,JERRY. Senate Sponsors: MYERS,J Short description: PEN CD-ST EMPL-75% AT ANY AGE Synopsis of Bill as introduced: Amends the State Employee Article of the Illinois Pension Code. Provides that a person with at least 34 years of creditable service who has reached the 75% maximum pension shall be deemed to have 35 years of service for purposes of avoiding the early retirement penalty and qualifying for the automatic annual increase in annuity. Effective immediately. PENSION NOTE (Pension Laws Commission) Accrued liability would increase by $13.8 million; annual contributions would be relatively small. PENSION NOTE, REVISED (Pension Laws Commission) According to the Commission's actuary, HB 428 would increase the accrued liability of the System by an estimated $8.38 million (based on the 1999 actuarial valuation). The increase in total annual costs as a percent of payroll is 0.02% ($0.75 million). Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status