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House Bill 1232

House Bill 1232

ARCHIVE (2007)

Latest Information

DIGEST OF HB 1232 (Updated March 28, 2007 1:52 pm - DI 102)

Pension relief fund distributions. Extends until January 1, 2011, additional distributions from the pension relief fund ensuring that at least 50% of the pension liability of each unit of local government is paid from the pension relief fund. Provides that a member of the public employees' retirement fund (PERF), previously employed by a state quasi-governmental entity not affiliated with PERF that is absorbed by a PERF affiliated entity, may purchase service credit at the full actuarial cost. (The introduced version of this bill was prepared by the pension management oversight commission.)
Current Status:
In Committee - 2nd House
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