92nd General Assembly
Status of SB1020
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 Full Text  Bill Summary

   40 ILCS 5/3-110           from Ch. 108 1/2, par. 3-110                      

        Amends the Downstate Police Article of the Illinois Pension Code       
   to allow purchase of service credit for up to 2 years of military           
   service not immediately preceded by employment, with the approval of        
   the municipality. Allows purchase at a reduced interest rate for 6          
   months.  Effective immediately.                                             
          PENSION NOTE (Pension Laws Commission)                               
          The fiscal impact of SB1020 cannot be determined as the number       
          of officers who will purchase the military service credit is         
          unknown. For some employees, the employee contributions requir-      
          ed by SB 1020 may not cover the entire cost of purchased mili-       
          tary service credit, which would result in a fiscal impact to        
          the employer.                                                        
   FEB-22-2001  S  FIRST READING                                                  
   FEB-22-2001  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   FEB-28-2001  S       ASSIGNED TO COMMITTEE               INS & PENS.           
   MAR-01-2001  S                        PENSION NOTE FILED AS INTRODUCED         
   MAR-06-2001  S       TO SUBCOMMITTEE                                           
   MAR-06-2001  S                   COMMITTEE               INS & PENS.           
   MAR-31-2001  S  RE-REFERRED TO RULES COMM/RULE 3-9(A)    RULES                 
   NOV-19-2002  S  ADDED AS A CHIEF CO-SPONSOR              LINK                  
   JAN-07-2003  S  SESSION SINE DIE                                               


 Full Text  Bill Summary