92nd General Assembly
Summary of HB2703
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House Sponsors:

Senate Sponsors:

Short description: 

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.      
   Effective immediately.                                                      
          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

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   1     SENATE -   0


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