|
|
|
HB0378 Engrossed |
|
LRB093 03957 EFG 03996 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 changing |
5 |
| Section 6-210.1 as follows:
|
6 |
| (40 ILCS 5/6-210.1)
(from Ch. 108 1/2, par. 6-210.1)
|
7 |
| Sec. 6-210.1. Credit for former employment with the fire |
8 |
| department.
|
9 |
| (a) Any fireman who (1) accumulated service credit in the |
10 |
| Article 8 fund for
service as an employee of the Chicago Fire |
11 |
| Department and (2) has terminated
that Article 8 service credit |
12 |
| and received a refund of contributions therefor,
may establish |
13 |
| service credit in this Fund for all or any part of that period |
14 |
| of
service under the Article 8 fund by making written |
15 |
| application to the Board by
January 1, 2005
2000 and paying to |
16 |
| this Fund (i) employee contributions based upon
the actual |
17 |
| salary received and the rates in effect for members of this |
18 |
| Fund at
the time of such service, plus (ii) interest thereon |
19 |
| calculated as follows:
|
20 |
| (1) For applications received by the Board before July |
21 |
| 14, 1995, interest shall be calculated
on the amount of |
22 |
| employee contributions determined under item (i) above, at |
23 |
| the
rate of 4% per annum, compounded annually, from the |
24 |
| date of termination of such
service to the date of payment.
|
25 |
| (2) For applications received by the Board on or after |
26 |
| July 14, 1995, interest shall be calculated
on the amount |
27 |
| of employee contributions determined under item (i) above, |
28 |
| at the
rate of 4% per annum, compounded annually, from the |
29 |
| first date of the period
for which credit is being |
30 |
| established under this subsection (a) to the date of
|
31 |
| payment.
|
32 |
| A fireman who (1) retired on or after January 16, 2004 and |