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IL HB6293
Bill
Status
2/11/2016
Primary Sponsor
Elaine Nekritz
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AI Summary
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Limits the purchase of credit for former county service under Section 9-179.2 of the Illinois Pension Code to employees who first become contributors before the effective date of this amendatory act.
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Adds a new definition of "in service" to the Cook County Article of the Illinois Pension Code, defining it as any period during which contributions are being made to the Fund on behalf of an employee.
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Allows eligible employees who worked for a governmental unit without contributing to that unit's retirement system to purchase credit for such service by paying back contributions plus interest at the effective rate.
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Prohibits the purchase of credit for any period of service for which the employee retains credit in another public annuity and benefit fund established by Illinois state law.
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Takes effect immediately upon becoming law.
Legislative Description
PEN CD-COOK CO-PURCHASE CREDIT
Last Action
Rule 19(a) / Re-referred to Rules Committee
4/8/2016