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40 ILCS 5/2-126
(40 ILCS 5/2-126) (from Ch. 108 1/2, par. 2-126)
(Text of Section WITH the changes made by P.A. 98-599, which has been
held unconstitutional)
Sec. 2-126. Contributions by participants.
(a) Each participant shall contribute toward the cost of his or her
retirement annuity a percentage of each payment of salary received by him or
her for service as a member as follows: for service between October 31, 1947
and January 1, 1959, 5%; for service between January 1, 1959 and June 30, 1969,
6%; for service between July 1, 1969 and January 10, 1973, 6 1/2%; for service
after January 10, 1973, 7%; for service after December 31, 1981, 8 1/2%.
(b) Beginning August 2, 1949, each male participant, and from July 1,
1971, each female participant shall contribute towards the cost of the
survivor's annuity 2% of salary.
A participant who has no eligible survivor's annuity beneficiary may elect
to cease making contributions for survivor's annuity under this subsection.
A survivor's annuity shall not be payable upon the death of a person who has
made this election, unless prior to that death the election has been revoked
and the amount of the contributions that would have been paid under this
subsection in the absence of the election is paid to the System, together
with interest at the rate of 4% per year from the date the contributions
would have been made to the date of payment.
(c) Beginning July 1, 1967 and, in the case of Tier 1 participants, ending on June 30, 2014, each participant shall contribute 1% of
salary towards the cost of automatic increase in annuity provided in
Section 2-119.1. These contributions shall be made concurrently with
contributions for retirement annuity purposes.
(d) In addition, each participant serving as an officer of the General
Assembly shall contribute, for the same purposes and at the same rates
as are required of a regular participant, on each additional payment
received as an officer. If the participant serves as an
officer for at least 2 but less than 4 years, he or she shall
contribute an amount equal to the amount that would have been contributed
had the participant served as an officer for 4 years. Persons who serve
as officers in the 87th General Assembly but cannot receive the additional
payment to officers because of the ban on increases in salary during their
terms may nonetheless make contributions based on those additional payments
for the purpose of having the additional payments included in their highest
salary for annuity purposes; however, persons electing to make these
additional contributions must also pay an amount representing the
corresponding employer contributions, as calculated by the System.
(e) Notwithstanding any other provision of this Article, the required contribution of a participant who first becomes a participant on or after January 1, 2011 shall not exceed the contribution that would be due under this Article if that participant's highest salary for annuity purposes were $106,800, plus any increases in that amount under Section 2-108.1. (Source: P.A. 98-599, eff. 6-1-14.) (Text of Section WITHOUT the changes made by P.A. 98-599, which has been
held unconstitutional)
Sec. 2-126. Contributions by participants.
(a) Each participant shall contribute toward the cost of his or her
retirement annuity a percentage of each payment of salary received by him or
her for service as a member as follows: for service between October 31, 1947
and January 1, 1959, 5%; for service between January 1, 1959 and June 30, 1969,
6%; for service between July 1, 1969 and January 10, 1973, 6 1/2%; for service
after January 10, 1973, 7%; for service after December 31, 1981, 8 1/2%.
(b) Beginning August 2, 1949, each male participant, and from July 1,
1971, each female participant shall contribute towards the cost of the
survivor's annuity 2% of salary.
A participant who has no eligible survivor's annuity beneficiary may elect
to cease making contributions for survivor's annuity under this subsection.
A survivor's annuity shall not be payable upon the death of a person who has
made this election, unless prior to that death the election has been revoked
and the amount of the contributions that would have been paid under this
subsection in the absence of the election is paid to the System, together
with interest at the rate of 4% per year from the date the contributions
would have been made to the date of payment.
(c) Beginning July 1, 1967, each participant shall contribute 1% of
salary towards the cost of automatic increase in annuity provided in
Section 2-119.1. These contributions shall be made concurrently with
contributions for retirement annuity purposes.
(d) In addition, each participant serving as an officer of the General
Assembly shall contribute, for the same purposes and at the same rates
as are required of a regular participant, on each additional payment
received as an officer. If the participant serves as an
officer for at least 2 but less than 4 years, he or she shall
contribute an amount equal to the amount that would have been contributed
had the participant served as an officer for 4 years. Persons who serve
as officers in the 87th General Assembly but cannot receive the additional
payment to officers because of the ban on increases in salary during their
terms may nonetheless make contributions based on those additional payments
for the purpose of having the additional payments included in their highest
salary for annuity purposes; however, persons electing to make these
additional contributions must also pay an amount representing the
corresponding employer contributions, as calculated by the System.
(e) Notwithstanding any other provision of this Article, the required contribution of a participant who first becomes a participant on or after January 1, 2011 shall not exceed the contribution that would be due under this Article if that participant's highest salary for annuity purposes were $106,800, plus any increases in that amount under Section 2-108.1. (Source: P.A. 96-1490, eff. 1-1-11.)
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