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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB0127
Introduced 1/7/2005, by Rep. Bill Mitchell SYNOPSIS AS INTRODUCED:
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40 ILCS 5/7-137.1 |
from Ch. 108 1/2, par. 7-137.1 |
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Amends the Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code to
allow appointed sanitary district trustees to elect to cease participating in
the Fund with respect to that office. Allows nonparticipating trustees to
receive a retirement annuity from the Fund while still serving as trustees.
Effective immediately.
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| FISCAL NOTE ACT MAY APPLY | |
PENSION IMPACT NOTE ACT MAY APPLY |
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A BILL FOR
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HB0127 |
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LRB094 04176 AMC 34200 b |
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| AN ACT in relation to 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 changing |
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| Section
7-137.1 as follows:
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| (40 ILCS 5/7-137.1) (from Ch. 108 1/2, par. 7-137.1)
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| Sec. 7-137.1. Elected officials and appointed sanitary |
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| district
trustees.
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| (a) A person holding an elective office who has elected
to |
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| participate in the Fund while in that office may revoke that |
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| election
and cease participating in the Fund by notifying the |
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| Board in writing
before January 1, 1992.
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| Upon such revocation, the person shall forfeit all |
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| creditable service
earned while holding that office, and the |
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| Board shall refund to the person,
without interest, all |
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| employee contributions paid for the forfeited
creditable |
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| service. The Board shall also refund or credit to the employing
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| municipality, without interest, the employer contributions |
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| relating to the
forfeited service, except those for death and |
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| disability.
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| (b) Notwithstanding the provisions of Sections 7-141 and |
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| 7-144,
beginning January 1, 1992, a person who holds an |
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| elective office and has
not elected to participate in the Fund |
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| with respect to that office (or has
revoked his election to |
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| participate with respect to that office under
subsection (a) of |
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| this Section) shall not be disqualified from receiving a
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| retirement annuity by reason of holding such office, provided |
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| that the
annuity is not based on any credits received for |
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| participating while
holding that office.
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| (c) An appointed sanitary district trustee may elect, at |
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| any time while
holding that office, to cease participating in |
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| the Fund with respect to that
office.
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