093_SB0909

 
                                     LRB093 10892 EFG 11405 b

 1        AN ACT in relation to 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
 5    adding  Sections  3-110.8  and  9-121.14 and changing Section
 6    5-234 as follows:

 7        (40 ILCS 5/3-110.8 new)
 8        Sec. 3-110.8. Transfer to Article 5 Fund.
 9        (a)  Until January 1, 2006,  any  active  member  of  the
10    Article  5  pension fund may apply for transfer of his or her
11    creditable service accumulated in  any  police  pension  fund
12    under  this  Article  to that Article 5 fund.  The creditable
13    service shall be  transferred  upon  payment  by  the  police
14    pension fund to the Article 5 fund of an amount equal to:
15             (1)  the  amounts  accumulated  to the credit of the
16        applicant on the  books  of  the  fund  on  the  date  of
17        transfer; and
18             (2)  employer  contributions  in  an amount equal to
19        the amount determined under item (1); and
20             (3)  any interest paid by the applicant in order  to
21        reinstate service.
22    Participation  in  this  Fund  shall terminate on the date of
23    transfer.
24        (b)  Until January 1, 2006,  any  active  member  of  the
25    Article  5  pension  fund may reinstate service in any police
26    pension fund  under  this  Article  that  was  terminated  by
27    receipt of a refund, by payment to the police pension fund of
28    the  amount  of the refund, together with interest thereon at
29    the rate of 6% per year, compounded annually, from  the  date
30    of the refund to the date of repayment.
 
                            -2-      LRB093 10892 EFG 11405 b
 1        (40 ILCS 5/5-234) (from Ch. 108 1/2, par. 5-234)
 2        Sec. 5-234.  Transfer of credits.
 3        (a)  Any  police  officer  who  has  at least 10 years of
 4    creditable service in the Fund  may  transfer  to  this  Fund
 5    credits  and  creditable  service accumulated under any other
 6    pension fund or retirement system established under Article 8
 7    or 12 of this Code, by making application and paying  to  the
 8    Fund  before January 1, 1990 the amount by which the employee
 9    contributions  that  would  have  been  required  if  he  had
10    participated in this Fund during the period for which  credit
11    is  being  transferred,  plus  interest,  exceeds  the amount
12    actually transferred from such other fund or system  to  this
13    Fund under item (1) of Section 8-226.5 or item (1) of Section
14    12-127.5.
15        (b)  A  policeman  may  transfer to this Fund credits and
16    creditable service accumulated under any police pension  fund
17    established  under  Article 3 of this Code, by making written
18    application to the Fund before  January  1,  2006.   For  the
19    transfer  to be effective, the policeman must pay to the Fund
20    before withdrawal from service the amount, if any,  by  which
21    the  employee  contributions that would have been required if
22    he or she had participated in this Fund during the period for
23    which credit is being transferred, plus interest, exceeds the
24    amount actually transferred from the Article 3 fund  to  this
25    Fund under item (1) of subsection (a) of Section 3-110.8.
26        (c)  A  policeman  may  transfer to this Fund credits and
27    creditable  service  accumulated  under  the   pension   fund
28    established under Article 9 of this Code for service as a law
29    enforcement  officer,  by  making  written application to the
30    Fund  before  January  1,  2006.   For  the  transfer  to  be
31    effective,  the  policeman  must  pay  to  the  Fund   before
32    withdrawal  from  service  the  amount,  if any, by which the
33    employee contributions that would have been required if he or
34    she had participated in this Fund during the period for which
 
                            -3-      LRB093 10892 EFG 11405 b
 1    credit is  being  transferred,  plus  interest,  exceeds  the
 2    amount  actually  transferred from the Article 9 fund to this
 3    Fund under item (1) of subsection (a) of Section 9-121.14.
 4    (Source: P.A. 86-272.)

 5        (40 ILCS 5/9-121.14 new)
 6        Sec. 9-121.14. Transfer to Article 5 Fund.
 7        (a)  Until January 1, 2006,  any  active  member  of  the
 8    Article  5  pension fund may apply for transfer of his or her
 9    creditable service accumulated as a law  enforcement  officer
10    under  this  Article  to that Article 5 fund.  The creditable
11    service shall be accompanied by payment from this Fund to the
12    Article 5 fund of an amount equal to:
13             (1)  the amounts accumulated to the  credit  of  the
14        applicant  for  such  service on the books of the Fund on
15        the date of transfer; and
16             (2)  employer contributions in an  amount  equal  to
17        the amount determined under item (1); and
18             (3)  any  interest paid by the applicant in order to
19        reinstate service.
20    Participation in  this  Fund  with  respect  to  the  service
21    transferred shall terminate on the date of transfer.
22        (b)  Until  January  1,  2006,  any  active member of the
23    Article 5  pension  fund  may  reinstate  service  as  a  law
24    enforcement officer under this Article that was terminated by
25    receipt  of a refund, by paying to the Fund the amount of the
26    refund, together with interest thereon at the rate of 6%  per
27    year, compounded annually, from the date of the refund to the
28    date of repayment.

29        Section  90.  The State Mandates Act is amended by adding
30    Section 8.27 as follows:

31        (30 ILCS 805/8.27 new)
 
                            -4-      LRB093 10892 EFG 11405 b
 1        Sec. 8.27. Exempt mandate.   Notwithstanding  Sections  6
 2    and  8 of this Act, no reimbursement by the State is required
 3    for  the  implementation  of  any  mandate  created  by  this
 4    amendatory Act of the 93rd General Assembly.

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