Illinois HB4573 amends the Illinois Pension Code to modify creditable service rules for the Illinois Municipal Retirement Fund.
HB4573 amends the Illinois Pension Code to modify creditable service rules for the Illinois Municipal Retirement Fund. It specifies that one month of creditable service is granted for the first month of participating employment, even if earnings are not reported. It also allows creditable service for periods of military service, authorized leave of absence without pay, and service transferred from another system. The bill details conditions for creditable service, including payment of employee contributions and interest.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.