95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB2066


 
Introduced 2/14/2008, by Sen. James A. DeLeo
 
SYNOPSIS AS INTRODUCED:
 		













40 ILCS 5/5-214.2 new






30 ILCS 805/8.32 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 in a law enforcement capacity under the Code or as a law enforcement officer with 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.
















LRB095 19116 AMC 45326 b

















FISCAL NOTE ACT MAY APPLY


PENSION IMPACT NOTE ACT MAY APPLY


STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT
















 


 


A BILL FOR









 











SB2066

LRB095 19116 AMC 45326 b






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    AN ACT concerning public employee benefits.

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


 
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    Section 5. The Illinois Pension Code is amended  by adding 
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Section 5-214.2 as follows:
 
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    (40 ILCS 5/5-214.2  new)
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    Sec. 5-214.2. Credit for certain law enforcement service. 
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An active policeman in this Fund with  at least 5 years of 
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creditable service may  establish up to 10 years of additional 
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service credit for service in a law enforcement capacity under 
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Articles 3, 7, 9, 10, 13, 14, and 15 and Division 1 of Article 
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22 or as a law enforcement officer with the Chicago Housing 
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Authority, provided that: (1) service credit is not available 
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for that employment under any other provision of this Article; 
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(2) any service credit for that employment received under any 
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other provision of this Code  or under the retirement plan of 
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the Chicago Housing Authority has been terminated; and (3) the 
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policeman applies for this credit in writing and pays to the 
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Fund before withdrawal from service an amount to be determined 
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by the Fund, equal to (i) an amount representing employee 
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contributions, based on the annual salary rate received by the 
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policeman at the time of first participating in this Fund after 
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the employment for which service credit is being established 
 


 






SB2066
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LRB095 19116 AMC 45326 b




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and the employee contribution rate then in effect, plus (ii) an 
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amount representing employer contributions, as determined by 
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the Fund, plus (iii) interest at the rate of 4% per year, 
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compounded annually, on items (i) and (ii) from the date of 
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first participating in this Fund after the employment for which 
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service credit is being established to the date of payment. 
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Rollover contributions from other retirement plans qualified 
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under the U.S. Internal Revenue Code of 1986 may be used to 
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make the payment required under this Section.

 
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    Section 90. The State Mandates Act is amended by adding 
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Section 8.32 as follows:
 
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    (30 ILCS 805/8.32 new)
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    Sec. 8.32. Exempt mandate. Notwithstanding Sections 6 and 8 
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of this Act, no reimbursement by the State is required for the 
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implementation of any mandate created by this amendatory Act of 
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the 95th General Assembly.
 

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