Bill Title: Amends the State Employee Article of the Illinois Pension Code. In provisions concerning final average compensation, provides that for a member on leave of absence without pay who purchases service credit for that period of leave, earnings are assumed to be equal to the rate of compensation in effect immediately prior to the leave. Provides that, if no contributions are required to establish service credit for the period of leave, the member may elect to establish earnings credit for the leave period within 48 months after returning to work by making the employee and employer contributions, plus interest at the actuarially assumed rate. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2009-08-14 - Public Act . . . . . . . . . 96-0525 [HB3964 Detail]

Text: Latest bill text (Enrolled) [HTML]

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