House Sponsors: SMITH,MICHAEL-HOFFMAN. Short description: PEN CD-IMRF-SLEP-"DROP" PLAN Synopsis of Bill as introduced: Amends the IMRF Article of the Pension Code. Provides a Deferred Retirement Option Plan for sheriff's law enforcement employees (SLEPs), under which a person who is at least age 50 with 20 years of SLEP service may continue in active service for up to 3 years while having his or her retirement annuity paid into a special account, to be distributed to the SLEP upon retirement. Bases the retirement annuity on the SLEP's service and salary at the time of joining the DROP plan. Requires termination of service at the end of participation in the DROP plan. Effective immediately. PENSION NOTE (Pension Laws Commission) Although the fiscal impact of HB 4084 is unknown, it may be significant for SLEP employers, as a similar proposal for State Police (SERS members) has an estimated cost of 4.428% of affected payroll. 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