92nd General Assembly
Summary of SB0480
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Senate Sponsors:

Short description: 
PEN CD-COOK CO-ADDL SERVICE                                                

Synopsis of Bill as introduced:
        Amends the Cook County Article of the  Pension  Code.   Allows  a      
   county  correctional officer to  establish credit for periods spent as      
   an officer  or  employee  of  a  labor  organization  that  represents      
   employees.   Requires  payment  of employee and employer contributions      
   plus interest; waives the employer  contributions  if  application  is      
   made  before July 1, 2002.  Allows certain members to purchase up to 5      
   years of service credit for time spent working as a benefits processor      
   for a firm under contract with the Fund and up to 10 years of  service      
   credit for time spent rendering contractual services (other than legal      
   services) to the Board.  Requires payment of an employee contribution,      
   but   no   employer   contribution   or  interest.   Allows  a  person      
   establishing credit for contractual service  to  reinstate  credit  in      
   this  Fund and repay a refund without a return to service.  Amends the      
   State Mandates Act to require  implementation  without  reimbursement.      
   Effective immediately.                                                      
          PENSION NOTE (Pension Laws Commission)                               
          The fiscal impact of SB 480 cannot be determined, as the             
          amount of service credit that would be purchased is unknown.         
          There would be a fiscal impact, but it is expected to be minor       
          as the amount of service credit that would be purchased would        
          probably be small.                                                   
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: Senate

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


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