Bill Title: Amends the Downstate Police and Illinois Municipal Retirement Fund (IMRF) Articles of the Illinois Pension Code. Allows participants of a downstate police pension fund to transfer up to 10 years of creditable service to the IMRF and allows participants of IMRF to transfer up to 10 years of creditable service to the a downstate police pension fund. Requires the participant to either pay the difference in contributions or have the creditable service reduced accordingly. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2011-01-12 - Session Sine Die [SB1542 Detail]

Text: Latest bill text (Introduced) [HTML]

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