House Sponsors: SMITH,MICHAEL. Short description: PEN CD-SERS-MILITARY INTEREST Synopsis of Bill as introduced: Amends the State Employee Article of the Pension Code. Changes the method of calculating interest when purchasing service credit for certain periods of military service. Effective immediately. PENSION IMPACT NOTE(Pension Laws Commission) Assuming 50% of eligible SERS members with prior military service purchased the credit, it is estimated accrued lia- bility would increase by $10.0 M. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status