92nd General Assembly
Status of HB3644
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 Full Text  Bill Summary

   40 ILCS 5/7-141           from Ch. 108 1/2, par. 7-141                      
   40 ILCS 5/7-142           from Ch. 108 1/2, par. 7-142                      
   40 ILCS 5/7-174           from Ch. 108 1/2, par. 7-174                      
   30 ILCS 805/8.26 new                                                        

        Amends the IMRF Article of the Illinois  Pension  Code.   Changes      
   the  vesting  requirement  for a retirement annuity from 8 years to 5.      
   Makes a corresponding change in one part of  the  retirement  formula.      
   Changes  the  service  requirement  for being a member of the Board of      
   Trustees, from 8 years to 5.  Amends the State Mandates Act to require      
   implementation without reimbursement.  Effective immediately.               
          PENSION IMPACT NOTE (Pension Laws Commission)                        
          IMRF estimates the cost of changing the vesting period from 8        
          to 5 years to be 0.63% of payroll. The effect of the change          
          will differ among municipal employees.                               
   SEP-25-2001  H  FILED WITH CLERK                                               
   NOV-07-2001  H  FIRST READING                                                  
   NOV-07-2001  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   NOV-19-2001  H                        PENSION NOTE FILED                       
   NOV-19-2001  H                   COMMITTEE               RULES                 
   JAN-07-2003  H  SESSION SINE DIE                                               


 Full Text  Bill Summary