92nd General Assembly
Summary of HB1012
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House Sponsors:
SMITH,MICHAEL.

Short description: 
PEN CD-ST POL-25 YEARS ANY AGE                                             

Synopsis of Bill as introduced:
        Amends the State Employee Article of the Illinois  Pension  Code.      
   Provides  that persons under the alternative (State police) retirement      
   formula may retire at any age with 25  years  of  eligible  creditable      
   service.  Effective immediately.                                            
          PENSION NOTE (Pension Laws Commission)                               
          HB 1012 will increase the accrued liability of SERS by an            
          estimated $27.8 million. The increase in annual cost has not         
          been calculated but is expected to be minor.                         
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



 Full Text  Bill Status