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1 | AN ACT concerning public employee benefits.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Illinois Pension Code is amended by changing | ||||||||||||||||||||||||||
5 | Section 17-116.1 as follows:
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6 | (40 ILCS 5/17-116.1) (from Ch. 108 1/2, par. 17-116.1)
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7 | Sec. 17-116.1. Early retirement without discount.
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8 | (a) A member retiring after June 1, 1980 and before June | ||||||||||||||||||||||||||
9 | 30, 1995 and within
6 months of the last day of teaching for | ||||||||||||||||||||||||||
10 | which retirement contributions were
required, may elect at the | ||||||||||||||||||||||||||
11 | time of application to make a one time employee
contribution to | ||||||||||||||||||||||||||
12 | the system and thereby avoid the early retirement reduction in
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13 | allowance specified in paragraph (4) of Section 17-116 of this | ||||||||||||||||||||||||||
14 | Article. The
exercise of the election shall obligate the last | ||||||||||||||||||||||||||
15 | Employer to also make a one
time non-refundable contribution to | ||||||||||||||||||||||||||
16 | the Fund.
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17 | (b) Subject to authorization by the Employer as provided in | ||||||||||||||||||||||||||
18 | subsection (c),
a member retiring on or after June 30, 1995 and | ||||||||||||||||||||||||||
19 | on or before June 30, 2015 2010 and
within 6 months of the last | ||||||||||||||||||||||||||
20 | day of teaching for which retirement
contributions were | ||||||||||||||||||||||||||
21 | required may elect at the time of application to make a
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22 | one-time employee contribution to the Fund and thereby avoid | ||||||||||||||||||||||||||
23 | the early
retirement reduction in allowance specified in |
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1 | paragraph (4) of Section
17-116. The exercise of the election | ||||||
2 | shall obligate the last Employer to
also make a one-time | ||||||
3 | nonrefundable contribution to the Fund.
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4 | (c) The benefits provided in subsection (b) are available | ||||||
5 | only to members
who retire, during a specified period, from | ||||||
6 | employment with an Employer that
has adopted and filed with the | ||||||
7 | Board a resolution expressly providing for the
creation of an | ||||||
8 | early retirement without discount program under this Section | ||||||
9 | for
that period.
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10 | The Employer has the full discretion and authority to | ||||||
11 | determine whether an
early retirement without discount program | ||||||
12 | is in its best interest and to
provide such a program to its | ||||||
13 | eligible employees in accordance with this
Section. The | ||||||
14 | Employer may decide to authorize such a program for one or more
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15 | of the following periods: for the period beginning July 1, 1997 | ||||||
16 | and ending
June 30, 1998, in which case the resolution must be | ||||||
17 | adopted by January 1, 1998;
for the period beginning July 1, | ||||||
18 | 1998 and ending June 30, 1999, in which case
the resolution | ||||||
19 | must be adopted by March 31, 1998; for the period
beginning | ||||||
20 | July 1, 1999 and ending June 30, 2000, in which case the | ||||||
21 | resolution
must be adopted by March 31, 1999; for the period | ||||||
22 | beginning July 1, 2000 and
ending June 30, 2001, in which case | ||||||
23 | the resolution must be adopted by March 31,
2000; for the | ||||||
24 | period beginning July 1, 2001 and ending June 30, 2002, in | ||||||
25 | which
case the resolution must be adopted by March 31, 2001; | ||||||
26 | for the period beginning
July 1, 2002 and ending June 30, 2003, |
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1 | in which case the resolution must be
adopted by March 31, 2002; | ||||||
2 | for the period beginning July 1, 2003 and ending
June 30, 2004, | ||||||
3 | in which case the resolution must be adopted by March 31, 2003;
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4 | for the period beginning July 1, 2004 and ending June 30, 2005, | ||||||
5 | in which
case the resolution must be adopted by March 31, 2004; | ||||||
6 | for the period
beginning July 1, 2005 and ending June 30, 2006, | ||||||
7 | in which case the resolution
must be adopted by August 31, | ||||||
8 | 2005; for the period beginning July 1, 2006 and
ending June 30, | ||||||
9 | 2007, in which case the resolution must be adopted by June 30,
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10 | 2006; for the period beginning July 1, 2007 and ending June 30, | ||||||
11 | 2008, in which
case the resolution must be adopted by June 30, | ||||||
12 | 2007; for the period beginning
July 1, 2008 and ending June 30, | ||||||
13 | 2009, in which case the resolution must be
adopted by June 30, | ||||||
14 | 2008; and for the period beginning July 1, 2009 and ending
June | ||||||
15 | 30, 2010, in which case the resolution must be adopted by June | ||||||
16 | 30, 2009 ; for the period beginning July 1, 2010 and ending June | ||||||
17 | 30, 2011, in which case the resolution must be adopted by June | ||||||
18 | 30, 2010; for the period beginning
July 1, 2011 and ending June | ||||||
19 | 30, 2012, in which case the resolution must be
adopted by June | ||||||
20 | 30, 2011; for the period beginning
July 1, 2012 and ending June | ||||||
21 | 30, 2013, in which case the resolution must be
adopted by June | ||||||
22 | 30, 2012; for the period beginning
July 1, 2013 and ending June | ||||||
23 | 30, 2014, in which case the resolution must be
adopted by June | ||||||
24 | 30, 2013; and for the period beginning
July 1, 2014 and ending | ||||||
25 | June 30, 2015, in which case the resolution must be
adopted by | ||||||
26 | June 30, 2014 .
The resolution must be filed with the Board |
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1 | within 10 days after it is
adopted. A single resolution may | ||||||
2 | authorize an early retirement without
discount program as | ||||||
3 | provided in this Section for more than one period.
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4 | Notwithstanding Section 17-157, the Employer shall also | ||||||
5 | have full discretion
and authority to determine whether to | ||||||
6 | allow its employees who withdrew from
service on or after June | ||||||
7 | 30, 1995 and before June 27, 1997 to participate in an
early | ||||||
8 | retirement without discount program under subsection (b). An | ||||||
9 | early
retirement without discount program for those who | ||||||
10 | withdrew from service on or
after June 30, 1995 and before June | ||||||
11 | 27, 1997 may be authorized only by a
resolution of the Employer | ||||||
12 | that is adopted by January 1, 1998 and filed with
the Board | ||||||
13 | within 10 days after its adoption. If such a resolution is duly
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14 | adopted and filed, a person who (i) withdrew from service with | ||||||
15 | the Employer on
or after June 30, 1995 and before June 27, | ||||||
16 | 1997, (ii) qualifies for early
retirement without discount | ||||||
17 | under subsection (b), (iii) applies to the Fund
within 90 days | ||||||
18 | after the authorizing resolution is adopted, and (iv) pays the
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19 | required employee contribution shall have his or her retirement | ||||||
20 | pension
recalculated in accordance with subsection (b). The | ||||||
21 | resulting increase shall
be effective retroactively to the | ||||||
22 | starting date of the retirement pension.
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23 | (d) The one-time employee contribution shall be equal to 7% | ||||||
24 | of the retiring
member's highest full-time annual salary rate | ||||||
25 | used in the determination of the
average salary rate for | ||||||
26 | retirement pension, or if not full-time then the
full-time |
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1 | equivalent, multiplied by (1) the number of years the teacher | ||||||
2 | is
under age 60, or (2) the number of years the employee's | ||||||
3 | creditable service is
less than 34 years, whichever is less.
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4 | The Employer contribution shall be 20% of such salary | ||||||
5 | multiplied by such
number of years.
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6 | (e) Upon receipt of the application and election, the Board | ||||||
7 | shall determine
the one time employee and Employer | ||||||
8 | contributions. The provisions of this
Section shall not be | ||||||
9 | applicable until the employee contribution, if any,
has been | ||||||
10 | received by the Fund;
however, the date that contribution is | ||||||
11 | received
shall not be considered in determining the effective | ||||||
12 | date of retirement.
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13 | (f) The number of employees who may retire under this | ||||||
14 | Section in any year
may be limited at the option of the | ||||||
15 | Employer to a specified number of those
eligible, not lower | ||||||
16 | than 200, but the Employer and the collective bargaining agent | ||||||
17 | for teachers may agree upon a greater limitation to the | ||||||
18 | specified number of employees who may retire under this Section | ||||||
19 | in any year. The right to participate in the early retirement | ||||||
20 | without discount authorized under this Section shall be | ||||||
21 | allocated
among those applying on the basis of seniority in the | ||||||
22 | service of the Employer or on such other basis for allocation | ||||||
23 | as the Employer and the collective bargaining agent for | ||||||
24 | teachers agree, in which case, such other basis may be employed | ||||||
25 | among other eligible employees as well.
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26 | (Source: P.A. 94-4, eff. 6-1-05.)
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1 | Section 90. The State Mandates Act is amended by adding | ||||||
2 | Section 8.33 as follows: | ||||||
3 | (30 ILCS 805/8.33 new) | ||||||
4 | Sec. 8.33. Exempt mandate. Notwithstanding Sections 6 and 8 | ||||||
5 | of this Act, no reimbursement by the State is required for the | ||||||
6 | implementation of any mandate created by this amendatory Act of | ||||||
7 | the 96th General Assembly.
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8 | Section 99. Effective date. This Act takes effect upon | ||||||
9 | becoming law.
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