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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB4463
Introduced 1/11/2006, by Rep. James H. Meyer SYNOPSIS AS INTRODUCED:
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40 ILCS 5/20-109 |
from Ch. 108 1/2, par. 20-109 |
30 ILCS 805/8.30 new |
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Amends the Retirement Systems Reciprocal Act of the Illinois Pension Code. In the definition of "pension credit", provides that the one-year limitation does not apply to credits and equities in the Illinois Municipal Retirement Fund for contributions, earnings, or service as a teacher aide for transfer of those credits and equities to the Teachers' Retirement System of the State of Illinois. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
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| FISCAL NOTE ACT MAY APPLY |
PENSION IMPACT NOTE ACT MAY APPLY |
STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT |
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A BILL FOR
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HB4463 |
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LRB094 14363 AMC 49289 b |
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| AN ACT concerning 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 20-109 as follows:
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| (40 ILCS 5/20-109) (from Ch. 108 1/2, par. 20-109)
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| Sec. 20-109. "Pension credit": Credit or equities acquired |
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| by an
employee in the form of contributions, earnings or |
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| service as defined
under the law governing each of the systems |
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| in which he has credits or
equities, except credits and |
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| equities (1) of less than one year in any
one system, except |
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| that this one-year limitation shall not apply to
(A) credits |
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| and equities in the Illinois Municipal Retirement Fund for |
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| contributions, earnings, or service as a teacher aide for |
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| transfer of those credits and equities to the Teachers' |
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| Retirement System of the State of Illinois or (B) employees who |
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| transfer or are transferred, as a class, from one
participating |
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| system to another or who are persons to whom Section
14-108.2a |
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| or 14-108.2b applies; or (2) which have previously been
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| forfeited by acceptance of a refund or which have been applied |
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| towards a
retirement annuity and have not been reestablished in |
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| accordance with the
law governing the system from which the |
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| refund or retirement annuity had
been received. If a retirement |
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| system provides no refund of contributions,
the pension credit |
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| in the case of any employee who has participated in that
system |
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| shall be considered effective for the purposes of this Article.
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| (Source: P.A. 88-535; 89-246, eff. 8-4-95.)
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| Section 90. The State Mandates Act is amended by adding |
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| Section 8.30 as
follows:
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| (30 ILCS 805/8.30 new)
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