CULLERTON. (MCKEON-HOEFT-MURPHY-BOST-OSTERMAN) 40 ILCS 5/18-112.2 from Ch. 108 1/2, par. 18-112.2 Amends the Illinois Pension Code. Makes a technical correction and a stylistic change in a Section relating to transfer of credits from the Judges Retirement System. PENSION NOTE (Pension Laws Commission) SB 1047 would have no fiscal impact on the Judges' Retirement System. HOUSE AMENDMENT NO. 1. Deletes reference to: 40 ILCS 5/18-112.2 Adds reference to: 40 ILCS 5/14-103.05 from Ch. 108 1/2, par. 14-103.0 40 ILCS 5/14-106 from Ch. 108 1/2, par. 14-106 40 ILCS 5/14-107 from Ch. 108 1/2, par. 14-107 40 ILCS 5/14-108 from Ch. 108 1/2, par. 14-108 40 ILCS 5/14-110 from Ch. 108 1/2, par. 14-110 40 ILCS 5/14-114 from Ch. 108 1/2, par. 14-114 40 ILCS 5/14-133 from Ch. 108 1/2, par. 14-133 40 ILCS 5/16-132 from Ch. 108 1/2, par. 16-132 40 ILCS 5/16-133 from Ch. 108 1/2, par. 16-133 40 ILCS 5/16-133.1 from Ch. 108 1/2, par. 16-133.1 Deletes everything. Amends the Illinois Pension Code. In the State Employee Article, increases the alternative (State Police) retirement formula. Also increases the regular retirement formula for certain employees of the Department of Corrections and the Department of Human Services. For members receiving those formulas, increases the employee contribution by 1% of salary in each of 2002, 2003, and 2004. Includes within the definition of "security employee of the Department of Human Services" certain employees who work at least 50% of their working hours at a security facility, thereby making them eligible for the alternative retirement formula. Allows certain persons to participate in the System while employed by a statewide labor organization that represents members of the System; allows those persons to purchase credit for certain prior service. Provides that employees who are employed on an academic-year basis shall receive a full year of service credit for each academic year of service. Allows a person with at least 8 years of service to retire without penalty at any age which, when added to the number of years of creditable service, equals at least 85. Changes the service requirement for a discounted annuity at age 55, from 30 years to 25. Makes a corresponding change in a provision relating to automatic annual increases. Amends the Downstate Teacher Article to make similar changes with respect to certain teachers who have credits as State employees; also removes the age 55 limitation on calculation of the initial automatic increase. Effective immediately. FISCAL NOTE, H-AM 1 (State Retirement Systems) SB 1047 will increase the SERS accrued liability by approxi- mately $492 million. The additional ongoing cost which will begin in FY 2010 is 1.3% of payroll, or approximately $58 million. 99-02-25 S FIRST READING 99-02-25 S REFERRED TO SENATE RULES COMMITTEE RULES 99-03-03 S ASSIGNED TO COMMITTEE INS & PENS. 99-03-08 S PENSION NOTE FILED 99-03-18 S DO PASS 010-000-000 SINS 99-03-18 S PLACED ON CALENDAR ORDER OF 2ND READING 99-03-19 99-03-19 S SECOND READING 99-03-19 S PLACED ON CALENDAR ORDER OF 3RD READING 99-03-22 99-03-24 S THIRD READING - PASSED 059-000-000 99-03-24 H ARRIVE IN HOUSE 99-03-24 H PLACED CALENDAR ORDER OF FIRST READING 99-04-15 H HOUSE SPONSOR MCKEON 99-04-15 H FIRST READING 99-04-15 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-04-20 H ASSIGNED TO COMMITTEE PERS PENSION 99-04-29 H COMMITTEE AND 3RD 99-04-29 H READING DEADLINE 99-04-29 H EXTENDED - 5/21/99 99-04-29 H COMMITTEE PERS PENSION 99-05-21 H COMMITTEE AND 3RD 99-05-21 H READING DEADLINE 99-05-21 H EXTENDED - 5/31/99 99-05-21 H COMMITTEE PERS PENSION 99-05-26 H MOTION FILED TO SUSPEND RULE 25 MURPHY 99-05-26 H MOTION PREVAILED TO SUSPEND RULE 25 99-05-26 H COMMITTEE PERS PENSION 99-05-31 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL 00-11-14 H ASSIGNED TO COMMITTEE PERS PENSION 00-11-14 H MOTION PREVAILED TO SUSPEND RULE 25 00-11-14 H COMMITTEE PERS PENSION 00-11-15 H AMENDMENT NO. 01-PERS PENSION H 00-11-15 H ADOPTED 00-11-15 H DO PASS AMENDED/SHORT DEBATE 009-000-000 HPPN 00-11-15 H PLACED CALENDAR 2ND READING-SHORT DEBATE 00-11-15 H SECOND READING-SHORT DEBATE 00-11-15 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 00-11-16 H FISCAL NOTE FILED AS AMENDED BY HOUSE AMEND #1 00-11-16 H ADDED AS A JOINT SPONSOR HOEFT 00-11-16 H ADDED AS A JOINT SPONSOR MURPHY 00-11-16 H ADDED AS A JOINT SPONSOR BOST 00-11-16 H ADDED AS A JOINT SPONSOR OSTERMAN 00-11-16 H THIRD READING/SHORT DEBATE/PASSED 113-001-000 00-11-28 S SECRETARYS DESK - CONCURRENCE 01 00-11-28 S FILED WITH SECRETARY 00-11-28 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01/CULLERTON 00-11-28 S MOTION REFERRED TO SRUL 00-11-28 S SECRETARYS DESK 00-11-29 01-01-01 S REFER TO RULES/PURSUANT SEN RULE 3-9 (B) RULES SRUL 01-01-09 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary