92nd General Assembly
Summary of HB1987
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House Sponsors:

Short description: 
PEN CD-DEPT CORRECTIONS TCHRS                                              

Synopsis of Bill as introduced:
        Amends the State Employee and Downstate Teacher Articles  of  the      
   Illinois  Pension  Code.   Allows  certain  teachers  employed  by the      
   Department of  Corrections  to  elect  to  participate  in  the  State      
   Employees'  Retirement  System  rather  than  the Teachers' Retirement      
   System;  authorizes  persons  so  electing  to  transfer  credits  for      
   previous service in that capacity.  Effective immediately.                  
          PENSION NOTE (Pension Laws Commission)                               
          The fiscal impact of HB 1987 cannot be determined, as the            
          amount of service credit that would be transferred from TRS to       
          SERS is unknown. The fiscal impact is estimated to be minor,         
          as the person transferring the service credit is required to         
          pay to SERS the employee and employer contributions, plus            
          interest (less the amount transferred from TRS).                     
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

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


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