House Sponsors: LANG-DURKIN. Short description: PEN CD-JUDGE-EARLY RET PENALTY Synopsis of Bill as introduced: Amends the Judges Article of the Illinois Pension Code. Provides that a judge who has attained age 60 and is eligible to receive the maximum rate of annuity may elect to have his or her contributions to the System based only on the increases in salary received by the judge on or after the date of the election, rather than the total salary received; does not apply to a judge who has previously elected to stop contributing, unless the judge has revoked that election. Extends the deadline for revocation to January 1, 2000. In the provisions relating to reduction of annuity due to retirement before age 60 with fewer than 28 years of service, reduces the early retirement penalty. Effective immediately. PENSION NOTE (Pension Laws Commission) Reducing early retirement reduction would increase accrued liability by $372,000, and increase total annual cost by $39,800 in the 1st year. Impact from allowing judges to make contributions based on salary increase cannot be determined. 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