91st General Assembly
Summary of SB0661
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Senate Sponsors:
MAITLAND-SHADID AND BOWLES.

Short description: 
PEN CD-IMRF-ELECTED CO OFFICER                                             

Synopsis of Bill as introduced:
        Amends the Illinois Municipal  Retirement  Fund  Article  of  the      
   Illinois  Pension Code with respect to the optional plan of additional      
   benefits and contributions  for  elected  county  officers  and  their      
   survivors.  Limits application of the special formula to service in an      
   elected  county office that the participant held for at least 8 years;      
   provides for a refund of additional contributions if  service  in  the      
   office lasts less than 8 years.  Changes the manner of calculating the      
   salary upon which benefits are based; uses a 4-year average final rate      
   of  earnings  and  applies  a separate rate for each qualifying office      
   held.  Effective January 1, 2001.                                           
          PENSION NOTE (Pension Laws Commission)                               
          Fiscal impact cannot be determined.                                  
 
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



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