TITLE 50: INSURANCE
CHAPTER I: DEPARTMENT OF INSURANCE SUBCHAPTER aaa: PENSIONS PART 4402 DEFINITION OF SALARY SECTION 4402.50 RETROACTIVE PAY INCREASES
Section 4402.50 Retroactive Pay Increases
a) Retroactive payments of compensation are treated as if they were paid during the period for which the increase is computed. If an employee retired after the effective date of the salary increase and is entitled to receive retroactive payment of salary, the new salary becomes final salary attached to the rank at the time of retirement and the salary on which the service pension is computed.
b) Entitlement to retroactive pay is to be determined by the contract or agreement which authorizes the salary increase.
(Source: Amended at 20 Ill. Reg. 5838, effective April 9, 1996) |