LOPEZ-ACEVEDO. 40 ILCS 5/14-103.40 new 40 ILCS 5/14-110 from Ch. 108 1/2, par. 14-110 40 ILCS 5/14-110.1 new 40 ILCS 5/14-114 from Ch. 108 1/2, par. 14-114 Amends the State Employee Article of the Illinois Pension Code. Provides a Deferred Retirement Option Plan for State Police, under which a State Policeman who is at least age 50 with 20 years of eligible creditable service may continue in active service for up to 3 years while having his or her retirement annuity paid into a special account, to be distributed to the employee upon retirement. Bases the retirement annuity on the employee's service and average salary as of the time of joining the DROP plan. Requires termination of service at the end of the DROP plan participation period. Effective immediately. HOUSING AFFORDABILITY NOTE (Housing Development Authority) No fiscal effect on a single-family residence. PENSION NOTE (Pension Laws Commission) Estimated increase in accrued liability of SERS is $60.5 million; estimated increase in total annual cost is 4.428% of affected payroll. 99-02-17 H FIRST READING 99-02-17 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-02-18 H ASSIGNED TO COMMITTEE PERS PENSION 99-02-22 H ADDED AS A JOINT SPONSOR ACEVEDO 99-03-05 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL 99-03-09 H HOUSING AFORDABILITY IMPCT NOTE FILED 99-03-09 H COMMITTEE RULES 99-05-03 H PENSION NOTE FILED 99-05-03 H COMMITTEE RULES 01-01-09 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary