Illinois General Assembly - Bill Status for SB2273
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 Bill Status of SB2273  102nd General Assembly


Short Description:  PENCD-SERS-ALTERNATIVE FORMULA

Senate Sponsors
Sen. Brian W. Stewart

Last Action
DateChamber Action
  4/16/2021SenateRule 3-9(a) / Re-referred to Assignments

Statutes Amended In Order of Appearance
40 ILCS 5/14-110from Ch. 108 1/2, par. 14-110
40 ILCS 5/14-152.1


Synopsis As Introduced
Amends the State Employee Article of the Illinois Pension Code. Provides that a State policeman may elect to convert service credit earned under the Article to eligible creditable service under the alternative retirement annuity formula by filing a written election with the Board and making a specified contribution. Provides that the conversion of service credit to eligible creditable service is not subject to provisions that limit the amount of eligible creditable service that may be established to 12 years. Provides that a State policeman may elect to establish eligible creditable service under the alternative retirement annuity formula for up to 5 years of service as a person employed by a participating municipality to perform police duties under the Illinois Municipal Retirement Fund (IMRF) Article, a county corrections officer, or a court services officer under the Cook County Article by filing a written application with the Board and making a specified contribution. Provides that any benefit increase that results from the amendatory Act is excluded from the definition of "new benefit increase". Effective immediately.

Actions 
DateChamber Action
  2/26/2021SenateFiled with Secretary by Sen. Brian W. Stewart
  2/26/2021SenateFirst Reading
  2/26/2021SenateReferred to Assignments
  3/23/2021SenateAssigned to Pensions
  4/16/2021SenateRule 3-9(a) / Re-referred to Assignments

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