House Sponsors: DAVIS,STEVE-HARTKE. Short description: PEN CD-ST EMPL-MILITARY CREDIT Synopsis of Bill as introduced: Amends the State Employee Article of the Pension Code to allow purchase of certain military service credits without payment of the associated interest. Effective immediately. PENSION NOTE (Pension Laws Commission) SERS estimates there are over 10,000 employees with qualifying military service credit at a cost roughly estimated to be $3,500 per member. If every member of SERS with prior military service purchases the credit, accrued liability would increase by an estimated $35.0 million. Assuming only 50% of SERS mem- bers with prior military service purchased the credit (which is more likely) it is estimated accrued liability would increase by $17.5 million. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status