Bill Status of SB1721 98th General Assembly
Short Description: PENCD-DOC TEACHERS TO SERS
Sen. John M. Sullivan - Wm. Sam McCann and James F. Clayborne, Jr.
| 1/13/2015||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Pension Code. Allows certain teachers employed by the Department of Corrections to transfer their participation and credits from the Teachers' Retirement System to the State Employees' Retirement System, upon payment of a specified contribution. Requires application within 30 days after the effective date. Provides that the transferred employees shall become noncovered employees and that the transferred service shall be deemed noncovered alternative formula service. Effective immediately.