92nd General Assembly Summary of SB1020    [ Home ]   [ Back ]   [ Legislation ]

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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, with the approval of        
   the municipality. Allows purchase at a reduced interest rate for 6          
   months.  Effective immediately.                                             
          PENSION NOTE (Pension Laws Commission)                               
          The fiscal impact of SB1020 cannot be determined as the number       
          of officers who will purchase the military service credit is         
          unknown. For some employees, the employee contributions requir-      
          ed by SB 1020 may not cover the entire cost of purchased mili-       
          tary service credit, which would result in a fiscal impact to        
          the employer.                                                        
 
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 


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