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Sen. John M. Sullivan
Filed: 3/1/2010
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09600SB2995sam001 |
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LRB096 16688 AMC 37664 a |
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| AMENDMENT TO SENATE BILL 2995
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| AMENDMENT NO. ______. Amend Senate Bill 2995, by replacing |
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| line 22 on page 21 through line 8 on page 22 with the |
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| following:
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| "(o) A member employed on a full-time basis by the Illinois |
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| Department of Transportation in the position of highway |
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| maintainer who has at least 20 years of creditable service |
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| under this Section may elect, within 6 months of the effective |
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| date of this amendatory Act of the 96th General Assembly, to |
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| convert up to 5 years of service under this Article rendered at |
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| Illinois Veterans Homes to service under this Section by paying |
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| to the Fund an amount equal to the increase in the present |
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| value of future benefits, as calculated by the System. In |
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| calculating the increase in the present value of future |
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| benefits, the System shall use the same actuarial assumptions |
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| used in the most recent actuarial valuation. The member must |
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| submit the required contributions prior to retirement.".
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