House Sponsors: DAVIS,STEVE. Short description: PEN CD-ST EMPL-MILITARY CREDIT Synopsis of Bill as introduced: Amends the State Employee Article of the Pension Code to allow purchase of certain military service credits at a reduced cost. Effective immediately. PENSION NOTE (Pension Laws Commission) SERS estimates there are over 10,000 employees with qualifying military service credit at a cost roughly estimated to be $4,655 per member. If every member of SERS with prior military service purchases the credit, accrued liability would increase by an estimated $46.6 million. Assuming only 50% of SERS mem- bers with prior military service purchased the credit (which is more likely) it is estimated accrued liability would increase by $23.3 million. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status