Bill Title: Amends the Illinois Pension Code. In the General Assembly and Judges Articles, authorizes a participant to terminate his or her participation in those systems. In the Downstate Teachers, State Employees, and State Universities Articles, authorizes a person to elect not to participate or to terminate his or her participation in those systems. In all 5 systems, provides that an active participant terminating participation in the system shall be entitled to a refund of his or her contributions (other than contributions to the defined contribution plan or self-managed plan) plus interest, minus any benefits received prior to terminating participation. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2015-10-10 - Pursuant to Senate Rule 3-9(b) / Referred to Assignments [SB1299 Detail]

Text: Latest bill text (Introduced) [HTML]

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