91st General Assembly
Summary of HB1582
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Short description: 
PEN CD-RULE OF 85                                                          

Synopsis of Bill as introduced:
        Amends the Illinois Pension Code.  Makes technical changes  in  a      
   Section relating to employer contributions.  Effective immediately.         
          PENSION NOTE (Pension Laws Commission)                               
          There would be no fiscal impact on any public pension fund or        
          retirement system in the State.                                      
        SENATE AMENDMENT NO. 1.                                                
          Deletes reference to:                                                
          40 ILCS 5/17-127.2                                                   
          Adds reference to:                                                   
          40 ILCS 5/14-107                from Ch. 108 1/2, par. 14-107        
          40 ILCS 5/14-108                from Ch. 108 1/2, par. 14-108        
          40 ILCS 5/14-114                from Ch. 108 1/2, par. 14-114        
          40 ILCS 5/16-132                from Ch. 108 1/2, par. 16-132        
          40 ILCS 5/16-133                from Ch. 108 1/2, par. 16-133        
          40 ILCS 5/16-133.1              from Ch. 108 1/2, par. 16-133.1      
        Deletes everything.   Amends the Illinois Pension Code.   In  the      
   State  Employee  Article,  allows  a  person  with at least 8 years of      
   service to retire without penalty at any age which, when added to  the      
   number  of  years  of creditable service, equals at least 85.  Changes      
   the service requirement for a discounted annuity at age  55,  from  30      
   years  to 25.  Makes a corresponding change in a provision relating to      
   automatic annual increases.  Amends the Downstate Teacher  Article  to      
   make similar changes with respect to certain teachers who have credits      
   as  State employees; also removes the age 55 limitation on calculation      
   of the initial automatic increase.  Effective immediately.                  
Last action on Bill: PUBLIC ACT.............................. 91-0927

   Last action date: 00-12-14

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   1


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