HB1565 Summary

• Amends Section 14-104 of the Illinois Pension Code to allow public employees to purchase creditable service for various periods of prior employment or service through contributions to the State Employees' Retirement System.

• Permits employees to establish service credit for military service (up to 4 years), authorized leave of absence periods, contractual services to the General Assembly, and employment with various state agencies and organizations.

• Allows laid-off employees who return to state employment to establish creditable service for their layoff period (up to 3 years) by paying required contributions plus employer's normal cost and interest, with application deadline of 6 months after July 27, 2010.

• Establishes service credit options for furlough periods beginning July 1, 2008, and allows employees to apply for credit before December 31, 2011, by paying required contributions plus employer costs and interest.

• Enables employees to purchase service credit for work as nurses under contract with the Department of Human Services, contractual services to Illinois Veterans Homes, and other specified employment with state agencies.