Illinois General Assembly - Full Text of HB1702
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Full Text of HB1702  95th General Assembly

HB1702sam003 95TH GENERAL ASSEMBLY

Sen. Don Harmon

Filed: 4/30/2008

 

 


 

 


 
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1
AMENDMENT TO HOUSE BILL 1702

2     AMENDMENT NO. ______. Amend House Bill 1702, AS AMENDED,
3 with reference to page and line numbers of Senate Amendment No.
4 2, on page 1, line 5, by replacing "14-152.1" with "14-152.2
5 and by adding Section 14-131.1"; and
 
6 by replacing line 7 on page 21 through line 10 on page 23 with
7 the following:
 
8     "(40 ILCS 5/14-131.1 new)
9     Sec. 14-131.1. Contributions by the Illinois State Toll
10 Highway Authority. The Illinois State Toll Highway Authority
11 must make contributions to the System of amounts that will be
12 sufficient to meet the cost of any additional liability created
13 by this amendatory Act of the 95th General Assembly for its
14 employees. The Board shall determine the total amount of the
15 contributions required on the basis of actuarial tables and
16 other assumptions adopted by the Board and shall certify the

 

 

09500HB1702sam003 - 2 - LRB095 07885 AMC 50044 a

1 amount of the required contributions to the Governor and the
2 Illinois State Toll Highway Authority on or before November 15,
3 2008. The contributions required under this Section may be
4 amortized over a period of not more than 10 years as a level
5 dollar amount in a manner consistent with rules adopted by the
6 Board.
 
7     (40 ILCS 5/14-152.2)
8     Sec. 14-152.2. New benefit increases.
9     (a) The General Assembly finds and declares that the
10 amendment to Section 14-104 made by this amendatory Act of the
11 95th General Assembly that allows members to establish
12 creditable service for certain participation in the University
13 of Illinois Government Public Service Internship Program
14 (GPSI) constitutes a new benefit increase within the meaning of
15 Section 14-152.1. Funding for this new benefit increase will be
16 provided by additional employee contributions under subsection
17 (r) of Section 14-104.
18     (b) The General Assembly finds and declares that the
19 amendment to Section 14-110 made by this amendatory Act of the
20 95th General Assembly that adds certain groups of employees to
21 the alternative formula constitutes a new benefit increase
22 within the meaning of Section 14-152.1. This new benefit
23 increase will expire 5 years after the effective date of this
24 amendatory Act. Funding for this new benefit increase will be
25 provided by annual contributions from the Illinois State Toll

 

 

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1 Highway Authority (for employees of the Illinois State Toll
2 Highway Authority), increased employee contributions and
3 increased State contributions, beginning in FY 2010, per the
4 funding plan contained in subsection (e) of Section 14-131.
5 (Source: P.A. 95-652, eff. 10-11-07.)".