Illinois General Assembly - Bill Status for HB4973

Amends the IMRF Article of the Illinois Pension Code. Provides that any moneys received by an elected official from the State of Illinois for service in that capacity shall be deemed earnings unless specifically excluded. Changes the provisions defining and specifying the manner of designating a beneficiary. With respect to persons establishing service credit for periods spent on a leave of absence, removes a provision requiring application within 2 years. Removes obsolete language relating to the payment of federal social security contributions to the Fund. Provides that an employee whose disability determination or medical examination results are at issue before the Board may request that the portion of the Board meeting or committee hearing concerning the disability determination or medical examination be closed to the public. Provides that if a retiring employee has accumulated nonconcurrent service with more than one participating municipality or participating instrumentality, aggregate municipality charges shall be prorated among all nonfinal employers based on service credit and projected earnings with those employers and, for the final employer, municipality charges shall be based on the remaining cost of the employee's pension. Makes a technical correction. Provides that each county with current or former elected county officers participating in the alternative annuity program shall have a separate employer contribution rate computed for those elected officers, and provides that those officers shall be treated as a separate unit within the Fund. In the provisions relating to employer pick-up of employee contributions, requires pick-up of employee contributions under the alternative program for elected county officers. Makes other changes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Replaces everything after the enacting clause with the bill as introduced with the following changes: Removes provisions defining and specifying the manner of designating a beneficiary. Removes provisions concerning pickup of employee contributions from the bill. Further amends the IMRF Article of the Illinois Pension Code to limit the alternative annuity program for county officers to elected county officers who have elected to establish alternative credit before the effective date of the amendatory Act and makes conforming changes. Effective immediately.

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