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IL SB2247
Bill
Status
1/13/2015
Primary Sponsor
William McCann
Click for details
AI Summary
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Deletes the requirement for state employees to pay an additional amount representing the employer's normal cost of the benefit plus interest when purchasing service credit for active military service under Section 14-104(j).
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Specifies that the deletion of this additional payment requirement applies only to credit purchased on or after the bill's effective date and does not entitle any person to a refund of contributions or interest already paid.
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Removes the changes made by this bill from the definition of "new benefit increase" in Section 14-152.1, exempting this military service credit provision from new benefit increase funding requirements.
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Takes effect immediately upon becoming law.
Legislative Description
PENCD-SERS-MILITARY SERVICE
Last Action
Session Sine Die
1/13/2015