91st General Assembly
Summary of SB1176
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Senate Sponsors:

Short description: 
PEN CD-DNST FIRE-MILITARY SERV                                             

Synopsis of Bill as introduced:
        Amends the Downstate Firefighter Article  of  the  Pension  Code.      
   Allows  members  to  receive  up  to  24 months of credit for military      
   service not preceded by employment, upon payment of the  corresponding      
   employee  and  employer  contributions, plus interest.  Provides for a      
   reduced rate of interest if payment is made within a specified 6-month      
   period.  Amends the  State  Mandates  Act  to  require  implementation      
   without reimbursement.  Effective immediately.                              
          PENSION NOTE (Pension Laws Commission)                               
          The impact of SB 1176 cannot be determined as the number of          
          officers who will purchase the military service credit is un-        
          known. The fiscal impact to employers would be greatest if           
          officers were allowed to purchase the service credit during the      
          period of reduced interest.                                          
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: Senate

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


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