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HB3578 Enrolled |
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LRB095 11357 AMC 32113 b |
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| service, plus
interest at the effective rate from the date of |
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| service to the date of
payment. All payments for past service |
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| must be paid in full before credit
is given. No additional |
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| optional contributions may be made for any period
of service |
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| for which credit has been previously forfeited by acceptance of
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| a refund, unless the refund is repaid in full with interest at |
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| the
effective rate from the date of refund to the date of |
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| repayment.
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| (b) In lieu of the retirement annuity otherwise payable |
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| under this
Article, any county officer elected by vote of the |
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| people who (1) has
elected to participate in the Fund and make |
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| additional optional
contributions in accordance with this |
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| Section, and (2)
has attained age 60 with at least 10 years of |
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| service credit,
or has attained age 65 with at least 8 years of |
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| service credit, may elect
to have his retirement annuity |
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| computed as follows: 3% of the
participant's salary at the time |
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| of termination of service for each of the
first 8 years of |
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| service credit, plus 4% of such salary for each of the
next 4 |
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| years of service credit, plus
5% of such salary for each year |
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| of service credit in excess of 12 years,
subject to a maximum |
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| of 80% of such salary. To the extent such elected
county |
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| officer has made additional optional contributions with |
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| respect to
only a portion of his years of service credit, his |
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| retirement annuity will
first be determined in accordance with |
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| this Section to the extent such
additional optional |
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| contributions were made, and then in accordance with
the |
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HB3578 Enrolled |
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LRB095 11357 AMC 32113 b |
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| remaining Sections of this Article to the extent of years of |
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| service
credit with respect to which additional optional |
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| contributions were not made.
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| (c) In lieu of the disability benefits otherwise payable |
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| under this
Article, any county officer elected by vote of the |
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| people who (1) has
elected to participate in the Fund, and (2) |
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| has become
permanently disabled and as a consequence is unable |
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| to perform the duties
of his office, and (3) was making |
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| optional contributions in accordance with
this Section at the |
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| time the disability was incurred, may elect to receive
a |
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| disability annuity calculated in
accordance with the formula in |
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| subsection (b). For the purposes of this
subsection, such |
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| elected county officer shall be considered permanently
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| disabled only if: (i) disability occurs while in service as an |
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| elected
county officer and is of such a nature as to prevent |
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| him from reasonably
performing the duties of his office at the |
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| time; and (ii) the board has
received a written certification |
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| by at least 2 licensed physicians
appointed by it stating that |
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| such officer is disabled and that the
disability is likely to |
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| be permanent.
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| (d) Refunds of additional optional contributions shall be |
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| made on the
same basis and under the same conditions as |
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| provided under Section 9-164,
9-166 and 9-167. Interest shall |
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| be credited at the effective rate on the
same basis and under |
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| the same conditions as for other contributions.
Optional |
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| contributions shall be accounted for in a separate Elected |
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HB3578 Enrolled |
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LRB095 11357 AMC 32113 b |
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| County
Officer Optional Contribution Reserve. Optional |
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| contributions under this
Section shall be included in the |
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| amount of employee contributions used to
compute the tax levy |
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| under Section 9-169.
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| (e) The effective date of this plan of optional alternative |
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| benefits
and contributions shall be January 1, 1988, or the |
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| date upon which
approval is received from the U.S. Internal |
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| Revenue Service, whichever is
later. The plan of optional |
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| alternative benefits and contributions shall
not be available |
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| to any former county officer or employee receiving an
annuity |
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| from the Fund on the effective date of the plan, unless he
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| re-enters service as an elected county officer and renders at |
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| least 3 years
of additional service after the date of re-entry.
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| (f) The plan of optional alternative benefits and |
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| contributions authorized under this Section applies only to |
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| county officers elected by vote of the people on or before the |
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| effective date of this amendatory Act of the 95th General |
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| Assembly.
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| (Source: P.A. 85-964.)
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| Section 90. The State Mandates Act is amended by adding |
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| Section 8.31 as follows: |
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| (30 ILCS 805/8.31 new) |
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| Sec. 8.31. Exempt mandate. Notwithstanding Sections 6 and 8 |
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| of this Act, no reimbursement by the State is required for the |