Synopsis of Bill as introduced:
Amends the Illinois Pension Code. Makes a technical change in a
Section concerning the General Assembly.
PENSION NOTE (Pension Laws Commission)
House Bill 2703 has no fiscal impact.
HOUSE AMENDMENT NO. 1.
Deletes reference to:
40 ILCS 5/2-101 from Ch. 108 1/2, par. 2-101
Adds reference to:
40 ILCS 5/2-123 from Ch. 108 1/2, par. 2-123
40 ILCS 5/14-105.1 from Ch. 108 1/2, par. 14-105.1
Deletes everything. Amends the Illinois Pension Code. Provides
that a former member of the General Assembly Retirement System may
transfer credits from the State Employees' Retirement System to GARS
and may reinstate credits in those Systems that have been terminated
due to acceptance of a refund. Also makes technical changes.
PENSION NOTE, H-AM 1 (Pension Laws Commission)
The fiscal impact of HB 2703 (H-am 1) cannot be calculated, as
it depends on the amount of service credit transferred. The
fiscal impact is expected to be very minor.
FISCAL NOTE, H-AM 1 (State Employees Retirement Systems)
It is not possible to determine the precise impact of HB 2703.
Since an individual transferring credit from SERS to GARS must
pay the full employer and employee contributions, the resulting
cost impact would be very minor.
Last action on Bill: SESSION SINE DIE
Last action date: JAN-07-2003
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0
END OF INQUIRY
Full Text Bill Status