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90_SB0449
40 ILCS 5/18-112.6 new
Amends the Judges Article of the Illinois Pension Code.
Allows a judge to purchase up to 2 years of service credit
for a period spent as an elected member of a board of
education or the board of trustees of a community college
district in this State. Effective immediately.
LRB9002365EGfg
LRB9002365EGfg
1 AN ACT to amend the Illinois Pension Code by adding
2 Section 18-112.6.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Pension Code is amended by
6 adding Section 18-112.6 as follows:
7 (40 ILCS 5/18-112.6 new)
8 Sec. 18-112.6. Service credit for member of educational
9 board. Until July 1, 1998, an active participant in this
10 System who has at least 6 years of service as a judge may
11 establish up to 2 years of service credit in this System for
12 a period during which the participant held elective office as
13 a member of a board of education in this State or a member of
14 the board of trustees of a community college district in this
15 State, by applying to the Board in writing and paying to the
16 System an amount equal to (1) employee contributions based on
17 the rate in effect for a judge on the date of becoming a
18 participant in this System and the salary received by the
19 judge on that date, plus (2) the employer's share of the
20 normal cost of the benefits being established, plus (3)
21 interest thereon at the prescribed rate, compounded annually,
22 from the date of membership to the date of payment. However,
23 credit may not be established under this Section for any
24 period for which the judge has received credit under any
25 other pension fund or retirement system subject to this Code,
26 unless that credit has been terminated.
27 Section 99. Effective date. This Act takes effect upon
28 becoming law.