(40 ILCS 5/21-112) (from Ch. 108 1/2, par. 21-112)
Sec. 21-112.
Penalties.
For failure to make timely reporting of
employee wages and payment of contributions on covered wages paid prior
to January 1, 1987 in accordance with State Agency
regulations, a delinquent political subdivision or retirement system may be
assessed a late filing penalty which shall be, upon receipt of notice,
immediately due and payable to the State Agency. The amount of the penalty
may be adjusted from time to time with the approval of the Board of
Trustees of the State Employees' Retirement System of Illinois. If
the late filing is of such duration that the State Agency is unable
to make timely payment on behalf of the political subdivision or retirement
system to the U.S. Department of Health and Human Services and a federal
interest charge arises, the late filing penalty shall be applied toward
payment of the federal interest charge. If the federal interest charge
exceeds the amount of the late filing penalty, the political subdivision or
retirement system shall be assessed the balance of the federal interest charge.
(Source: P.A. 85-442.)
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