House Sponsors: MADIGAN,MJ-CURRIE-MURPHY-POE-KLINGLER AND GRANBERG. Senate Sponsors: BOMKE-PHILIP-WALSH,T Short description: PENSIONS-SERS-TEACHERS Synopsis of Bill as introduced: Amends the Illinois Pension Code. Makes a technical change in a Section concerning State employees. PENSION NOTE (Pension Laws Commission) House Bill 2671 has no fiscal impact. SENATE AMENDMENT NO. 1. Deletes reference to: 40 ILCS 5/14-101 Adds reference to: 30 ILCS 105/15a from Ch. 127, par. 151a 40 ILCS 5/14-105 40 ILCS 5/14-108.3 40 ILCS 5/16-133.3 from Ch. 108 1/2, par. 16-133.3 40 ILCS 15/1.6 new Deletes everything. Amends the State Employee Article of the Illinois Pension Code. Provides service credit for up to 5 days of voluntary or involuntary furlough used to address a State fiscal emergency. Amends the State Employee and Downstate Teacher Articles of the Illinois Pension Code. Provides an early retirement incentive program for certain State employees who terminate service on or before December 31, 2002 (in certain cases, as late as April 30, 2003). Allows purchase of up to 5 years of age enhancement and creditable service; also removes the reduction for retirement between age 55 and 60. Requires the Illinois Pension Laws Commission to report on the net savings or cost of the program. Requires the State to fund the program through separate contributions made in fiscal years 2004 through 2013. Amends the State Pension Funds Continuing Appropriation Act to guarantee those contributions through continuing appropriations. Amends the State Finance Act to restrict personal service contracts relating to the early retirees. Effective immediately. Last action on Bill: PUBLIC ACT.............................. 92-0566 Last action date: JUN-25-2002 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1 END OF INQUIRY Full Text Bill Status