94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
SB2585


 
Introduced 1/20/2006, by Sen. James A. DeLeo
 
SYNOPSIS AS INTRODUCED:
 		














40 ILCS 5/5-214.2 new






30 ILCS 805/8.30 new









    Amends the Chicago Police Article of the Illinois Pension Code.  Authorizes an active member with at least 5 years of creditable service to establish up to 10 years of additional service credit for certain employment as a law enforcement officer with a downstate municipal police department, the Cook  County  Police Department, the State of Illinois, or the Chicago Housing Authority. Requires the applicant to pay employee and employer contributions, plus interest; permits the use of rollover contributions.  Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
















LRB094 17480 AMC 52775 b

















FISCAL NOTE ACT MAY APPLY


PENSION IMPACT NOTE ACT MAY APPLY


STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT
















 


 


A BILL FOR









 











SB2585

LRB094 17480 AMC 52775 b






1
    AN ACT concerning public employee benefits.

 
2
    Be it enacted by the People of the State of Illinois,
 
3
represented in the General Assembly:


 
4
    Section 5. The Illinois Pension Code is amended  by adding 
5
Section 5-214.2 as follows:
 
6
    (40 ILCS 5/5-214.2  new)
7
    Sec. 5-214.2. Credit for certain law enforcement service. 
8
An active policeman in this Fund with  at least 5 years of 
9
creditable service may  establish up to 10 years of additional 
10
service credit for employment as a police officer in the police 
11
department of a municipality as defined in Article 3 of this 
12
Code, as a member of the County Police Department under Article 
13
9 of this Code, as a State Policeman or other law enforcement 
14
officer under the alternative formula (Section 14-110) of 
15
Article 14, or as a law enforcement officer with the Chicago 
16
Housing Authority, provided that: (1) service credit is not 
17
available for that employment under any other provision of this 
18
Article; (2) any service credit for that employment received 
19
under Article 3, Article 9, Article 14, or any other provision 
20
of this Code, or under the retirement plan of the Chicago 
21
Housing Authority, has been terminated; and (3) the policeman 
22
applies for this credit in writing before January 1, 2008 and 
23
pays to the Fund before withdrawal from service an amount to be 
24
determined by the Fund, equal to (i) an amount representing 
25
employee contributions, based on the annual salary rate 
26
received by the policeman at the time of first participating in 
27
this Fund after the employment for which service credit is 
28
being established and the employee contribution rate then in 
29
effect, plus (ii) an amount representing employer 
30
contributions, as determined by the Fund, plus (iii) interest 
31
at the rate of 4% per year, compounded annually, on items (i) 
32
and (ii) from the date of first participating in this Fund 
 


 






SB2585
- 2 -
LRB094 17480 AMC 52775 b




1
after the employment for which service credit is being 
2
established to the date of payment. Rollover contributions from 
3
other retirement plans qualified under the U.S. Internal 
4
Revenue Code of 1986 may be used to make the payment required 
5
under this Section.

 
6
    Section 90. The State Mandates Act is amended by adding 
7
Section 8.30 as
follows:


 
8
    (30 ILCS 805/8.30 new)

9
    Sec. 8.30. Exempt mandate. Notwithstanding Sections 6 and 8 
10
of this
Act, no reimbursement by the State is required for the 
11
implementation of
any mandate created by this amendatory Act of 
12
the 94th General Assembly.

 

13
    Section 99. Effective date. This Act takes effect upon 
14
becoming law.