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IL HB5578
Bill
Status
Failed
1/8/2013
Primary Sponsor
Dave Winters
Click for details
AI Summary
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Amends the Illinois Pension Code to add Section 2-163 regarding blended pension benefits for General Assembly participants.
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Active participants who first joined the system before January 9, 2013 become eligible only for benefits provided to participants joining on or after January 9, 2013 for service periods after that date.
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Retirement annuities for participants who joined before January 9, 2013 are calculated using a weighted average of benefits earned before and after the effective date.
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Effective date is January 9, 2013.
Legislative Description
PEN CD-GA-BLENDED BENEFIT
Last Action
Session Sine Die
1/8/2013
Committee Referrals
Rules2/15/2012
Full Bill Text
No bill text available