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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 adding | ||||||
5 | Section 9-179.4 as follows: | ||||||
6 | (40 ILCS 5/9-179.4 new) | ||||||
7 | Sec. 9-179.4. Service for periods of furlough or salary | ||||||
8 | reduction. | ||||||
9 | (a) An active participant may establish service credit and | ||||||
10 | earnings credit for periods of furlough beginning on or after | ||||||
11 | December 1, 2017 and ending on or before November 30, 2018. To | ||||||
12 | receive this credit, the participant must (i) apply in writing | ||||||
13 | to the Fund before December 31, 2019; (ii) not receive | ||||||
14 | compensation or any type of remuneration from the county for | ||||||
15 | any furlough period; (iii) make, on an after-tax basis, | ||||||
16 | employee contributions required under this Article based on his | ||||||
17 | or her salary during the periods of furlough, plus an amount | ||||||
18 | determined by the Board to be equal to the employer's normal | ||||||
19 | cost of the benefit, plus compounded interest at the | ||||||
20 | actuarially assumed rate from the date of furlough to the date | ||||||
21 | of payment; and (iv) pay the employee contributions required by | ||||||
22 | this Section while he or she is an active participant and | ||||||
23 | within 12 months after the date of application. The participant |
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1 | shall provide, at the time of application, written | ||||||
2 | certification from the county stating (1) the total number of | ||||||
3 | furlough days the participant has been required to take and (2) | ||||||
4 | that the participant has not received compensation or any type | ||||||
5 | of remuneration from the county for such furlough days. | ||||||
6 | (b) An active participant may establish earnings credit for | ||||||
7 | periods of salary reduction beginning on or after December 1, | ||||||
8 | 2017 and ending on or before November 30, 2018. To receive this | ||||||
9 | credit, the participant must: (i) apply in writing to the Fund | ||||||
10 | before December 31, 2019; (ii) not receive compensation or any | ||||||
11 | type of remuneration from the county for any reduction in | ||||||
12 | salary; (iii) make, on an after-tax basis, employee | ||||||
13 | contributions required under this Article based on the | ||||||
14 | reduction in salary, plus an amount determined by the Board to | ||||||
15 | be equal to the employer's normal cost of the benefit, plus | ||||||
16 | compounded interest at the actuarially assumed rate from the | ||||||
17 | date of reduction in salary to the date of payment; and (iv) | ||||||
18 | pay the employee contributions required by this Section while | ||||||
19 | he or she is an active participant and within 12 months after | ||||||
20 | the date of application. The participant shall provide, at the | ||||||
21 | time of application, written certification from the county | ||||||
22 | stating (1) the total reduction in salary for each pay period | ||||||
23 | with a reduction in salary and (2) that the participant has not | ||||||
24 | received compensation or any type of remuneration from the | ||||||
25 | county for such reduction in salary. | ||||||
26 | (c) For the purposes of this Section, the employer's normal |
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1 | cost shall be determined by the Fund's actuarial valuation for | ||||||
2 | the year ending December 31, 2018. Any payments received under | ||||||
3 | this Section shall be considered contributions made by the | ||||||
4 | employee for the purposes of Sections 9-169 and 10-107 of this | ||||||
5 | Code. | ||||||
6 | Section 90. The State Mandates Act is amended by adding | ||||||
7 | Section 8.43 as follows: | ||||||
8 | (30 ILCS 805/8.43 new) | ||||||
9 | Sec. 8.43. 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 101st General Assembly.
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13 | Section 99. Effective date. This Act takes effect upon | ||||||
14 | becoming law. |