92nd General Assembly Summary of SB0704    [ Home ]   [ Back ]   [ Legislation ]

Legislation:   Please enter a bill number.

Senate Sponsors:
CLAYBORNE-LINK.

Short description: 
PEN CD-DNST POL-MILITARY CRED                                              

Synopsis of Bill as introduced:
        Amends the Downstate Police Article of the Illinois Pension Code       
   to allow purchase of service credit for up to 2 years of military           
   service not immediately preceded by employment. Allows purchase at a        
   reduced interest rate for 6 months. Amends the State Mandates Act to        
   require implementation without reimbursement. Effective immediately.        
          PENSION NOTE (Pension Laws Commission)                               
          The fiscal impact of SB 704 cannot be determined as the              
          number of members who will purchase the military service             
          credit is unknown. For some employees, the employee contri-          
          butions required by SB 704 may not cover the entire cost             
          of the purchased military service credit.                            
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: Senate

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


   END OF INQUIRY 


 Full Text  Bill Status