Bill Status of SB0040 102nd General Assembly
Short Description: PEN CD-GARS-18-MONTH OPT OUT
Sen. Tim Bivins
| 1/13/2015||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the General Assembly Article of the Illinois Pension Code. Provides that a person who is a member on the effective date of the amendatory Act may file a written notice of election not to participate in the General Assembly Retirement System within 24 months from the date of becoming a member or 18 months after the effective date of the amendatory Act, whichever is later. Provides that a person who makes that election shall, upon written request, receive a refund of his or her total contributions, without interest. Effective immediately.