House Sponsors: STROGER. Senate Sponsors: MOLARO Short description: PEN CD-SERS-BUY CTA CREDIT Synopsis of Bill as introduced: Amends the State Employee Article of the Illinois Pension Code. Allows an alternative formula employee to purchase credit for service as a full-time law enforcement officer employed by the Chicago Transit Authority. Requires the applicant to pay both employee and employer contributions, plus interest. Effective immediately. PENSION NOTE (Pension Laws Commission) The fiscal impact of HB 1064 cannot be determined, as the amount of service credit that may be established for CTA employment is unknown. The fiscal impact is estimated to be minor as the alternative formula employee is required to make the employee and employer (normal cost) contributions, plus interest from the date of first employment as an alternative formula employee to the date of payment. HOUSE AMENDMENT NO. 1. Deletes reference to: 40 ILCS 5/14-110 Adds reference to: 40 ILCS 5/2-110 from Ch. 108 1/2, par. 2-110 40 ILCS 5/14-105.1 from Ch. 108 1/2, par. 14-105.1 Replaces everything. Amends the Illinois Pension Code. Provides that an active member of the General Assembly Retirement System may transfer any part of his or her creditable service accumulated under the State Employees Retirement System to the General Assembly Retirement System. Until July 1, 2003, allows GA members to make those transfers at a reduced cost by excluding certain interest. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status