SMITH,MICHAEL. 40 ILCS 5/7-141 from Ch. 108 1/2, par. 7-141 40 ILCS 5/7-142 from Ch. 108 1/2, par. 7-142 40 ILCS 5/7-168 from Ch. 108 1/2, par. 7-168 40 ILCS 5/7-174 from Ch. 108 1/2, par. 7-174 30 ILCS 805/8.25 new Amends the IMRF Article of the Illinois Pension Code. Changes the vesting requirement for a retirement annuity from 8 years to 5. Makes a corresponding change in one part of the retirement formula. Authorizes the Fund to pay interest on separation benefits. Changes the service requirement for being a member of the Board of Trustees, from 8 years to 5. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. FEB-06-2001 H FILED WITH CLERK FEB-06-2001 H FIRST READING FEB-06-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES FEB-07-2001 H ASSIGNED TO COMMITTEE PERS PENSION MAR-16-2001 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL JAN-07-2003 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary