SB1582 EnrolledLRB101 07577 RPS 52622 b

1    AN ACT concerning public employee benefits.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Pension Code is amended by changing
5Section 13-208 as follows:
 
6    (40 ILCS 5/13-208)  (from Ch. 108 1/2, par. 13-208)
7    Sec. 13-208. "Average final salary": The highest average
8monthly annual salary as calculated by accumulating the salary
9for the highest 520 52 consecutive paid days of service pay
10periods within the last 10 years of service immediately
11preceding the date of retirement and dividing by 24 2. If the
12employee is paid for any portion of a work day, the fraction of
13the day worked and the salary for that fraction of the day
14shall be counted in accordance with the Fund's administrative
15rules.
16(Source: P.A. 90-12, eff. 6-13-97.)
 
17    Section 99. Effective date. This Act takes effect upon
18becoming law.