House Sponsors: MADIGAN,MJ-CURRIE AND GRANBERG. Senate Sponsors: MADIGAN,R 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 END OF INQUIRY Full Text Bill Status