House Sponsors: SMITH,MICHAEL. Short description: PEN CD-IMRF-ADMINISTRATIVE Synopsis of Bill as introduced: Amends the Municipal (IMRF) Article of the Pension Code. Eliminates the requirement that a person seeking early retirement incentives give the Fund notice 60 days in advance of retirement. Eliminates the 8-year vesting requirement if the General Assembly terminates the Fund. Provides that terminated credits shall not be applied to increase the benefits any remaining employee would otherwise receive. With respect to the application of limitations under Section 415 of the Internal Revenue Code of 1986, provides that a benefit reduction required to meet those limitations shall first be applied to benefits not arising under the IMRF Article. Changes provisions relating to refunds upon termination of employment. Provides that a person who has authorized the withholding of health insurance premiums from an annuity may revoke that authorization at any time. Also makes technical corrections. Effective January 1, 2001. 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