Illinois General Assembly - Full Text of SB0777
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Full Text of SB0777  99th General Assembly

SB0777ham004 99TH GENERAL ASSEMBLY

Rep. Barbara Flynn Currie

Filed: 5/29/2015

 

 


 

 


 
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1
AMENDMENT TO SENATE BILL 777

2    AMENDMENT NO. ______. Amend Senate Bill 777 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Illinois Pension Code is amended by
5changing Sections 5-167.2, 5-168, 6-128.2, and 6-165 and by
6adding Sections 5-168.2 and 6-165.2 as follows:
 
7    (40 ILCS 5/5-167.2)   (from Ch. 108 1/2, par. 5-167.2)
8    Sec. 5-167.2. Retirement before September 1, 1967. A
9retired policeman, qualifying for minimum annuity or who
10retired from service with 20 or more years of service, before
11September 1, 1967, shall, in January of the year following the
12year he attains the age of 65, or in January of the year 1970,
13if then more than 65 years of age, have his then fixed and
14payable monthly annuity increased by an amount equal to 2% of
15the original grant of annuity, for each year the policeman was
16in receipt of annuity payments after the year in which he

 

 

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1attains, or did attain the age of 63. An additional 2% increase
2in such then fixed and payable original granted annuity shall
3accrue in each January thereafter. Beginning January 1, 1986,
4the rate of such increase shall be 3% instead of 2%.
5    The provisions of the preceding paragraph of this Section
6apply only to a retired policeman eligible for such increases
7in his annuity who contributes to the Fund a sum equal to $5
8for each full year of credited service upon which his annuity
9was computed. All such sums contributed shall be placed in a
10Supplementary Payment Reserve and shall be used for the
11purposes of such Fund account.
12    Beginning with the monthly annuity payment due in July,
131982, the fixed and granted monthly annuity payment for any
14policeman who retired from the service, before September 1,
151976, at age 50 or over with 20 or more years of service and
16entitled to an annuity on January 1, 1974, shall be not less
17than $400. It is the intent of the General Assembly that the
18change made in this Section by this amendatory Act of 1982
19shall apply retroactively to July 1, 1982.
20    Beginning with the monthly annuity payment due on January
211, 1986, the fixed and granted monthly annuity payment for any
22policeman who retired from the service before January 1, 1986,
23at age 50 or over with 20 or more years of service, or any
24policeman who retired from service due to termination of
25disability and who is entitled to an annuity on January 1,
261986, shall be not less than $475.

 

 

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1    Beginning with the monthly annuity payment due on January
21, 1992, the fixed and granted monthly annuity payment for any
3policeman who retired from the service before January 1, 1992,
4at age 50 or over with 20 or more years of service, and for any
5policeman who retired from service due to termination of
6disability and who is entitled to an annuity on January 1,
71992, shall be not less than $650.
8    Beginning with the monthly annuity payment due on January
91, 1993, the fixed and granted monthly annuity payment for any
10policeman who retired from the service before January 1, 1993,
11at age 50 or over with 20 or more years of service, and for any
12policeman who retired from service due to termination of
13disability and who is entitled to an annuity on January 1,
141993, shall be not less than $750.
15    Beginning with the monthly annuity payment due on January
161, 1994, the fixed and granted monthly annuity payment for any
17policeman who retired from the service before January 1, 1994,
18at age 50 or over with 20 or more years of service, and for any
19policeman who retired from service due to termination of
20disability and who is entitled to an annuity on January 1,
211994, shall be not less than $850.
22    Beginning with the monthly annuity payment due on January
231, 2004, the fixed and granted monthly annuity payment for any
24policeman who retired from the service before January 1, 2004,
25at age 50 or over with 20 or more years of service, and for any
26policeman who retired from service due to termination of

 

 

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1disability and who is entitled to an annuity on January 1,
22004, shall be not less than $950.
3    Beginning with the monthly annuity payment due on January
41, 2005, the fixed and granted monthly annuity payment for any
5policeman who retired from the service before January 1, 2005,
6at age 50 or over with 20 or more years of service, and for any
7policeman who retired from service due to termination of
8disability and who is entitled to an annuity on January 1,
92005, shall be not less than $1,050.
10    Beginning with the monthly annuity payment due on January
111, 2016, the fixed and granted monthly annuity payment for any
12policeman who retired from the service before January 1, 2016,
13at age 50 or over with 20 or more years of service, and for any
14policeman who retired from service due to termination of
15disability and who is entitled to an annuity on January 1,
162016, shall be no less than 125% of the Federal Poverty Level.
17For purposes of this Section, the "Federal Poverty Level" shall
18be determined pursuant to the poverty guidelines updated
19periodically in the Federal Register by the United States
20Department of Health and Human Services under the authority of
2142 U.S.C. 9902(2).
22    The difference in amount between the original fixed and
23granted monthly annuity of any such policeman on the date of
24his retirement from the service and the monthly annuity
25provided for in the immediately preceding paragraph shall be
26paid as a supplement in the manner set forth in the immediately

 

 

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1following paragraph.
2    To defray the annual cost of the increases indicated in the
3preceding part of this Section, the annual interest income
4accruing from investments held by this Fund, exclusive of gains
5or losses on sales or exchanges of assets during the year, over
6and above 4% a year shall be used to the extent necessary and
7available to finance the cost of such increases for the
8following year and such amount shall be transferred as of the
9end of each year beginning with the year 1969 to a Fund account
10designated as the Supplementary Payment Reserve from the
11Interest and Investment Reserve set forth in Section 5-207.
12    In the event the funds in the Supplementary Payment Reserve
13in any year arising from: (1) the interest income accruing in
14the preceding year above 4% a year and (2) the contributions by
15retired persons are insufficient to make the total payments to
16all persons entitled to the annuity specified in this Section
17and (3) any interest earnings over 4% a year beginning with the
18year 1969 which were not previously used to finance such
19increases and which were transferred to the Prior Service
20Annuity Reserve, may be used to the extent necessary and
21available to provide sufficient funds to finance such increases
22for the current year and such sums shall be transferred from
23the Prior Service Annuity Reserve. In the event the total money
24available in the Supplementary Payment Reserve from such
25sources are insufficient to make the total payments to all
26persons entitled to such increases for the year, a

 

 

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1proportionate amount computed as the ratio of the money
2available to the total of the total payments specified for that
3year shall be paid to each person for that year.
4    The Fund shall be obligated for the payment of the
5increases in annuity as provided for in this Section only to
6the extent that the assets for such purpose are available.
7(Source: P.A. 93-654, eff. 1-16-04.)
 
8    (40 ILCS 5/5-168)   (from Ch. 108 1/2, par. 5-168)
9    Sec. 5-168. Financing.
10    (a) Except as expressly provided in this Section, the city
11shall levy a tax annually upon all taxable property therein for
12the purpose of providing revenue for the fund.
13    The tax shall be at a rate that will produce a sum which,
14when added to the amounts deducted from the policemen's
15salaries and the amounts deposited in accordance with
16subsection (g), is sufficient for the purposes of the fund.
17    For the years 1968 and 1969, the city council shall levy a
18tax annually at a rate on the dollar of the assessed valuation
19of all taxable property that will produce, when extended, not
20to exceed $9,700,000. Beginning with the year 1970 and through
212014, the city council shall levy a tax annually at a rate on
22the dollar of the assessed valuation of all taxable property
23that will produce when extended an amount not to exceed the
24total amount of contributions by the policemen to the Fund made
25in the calendar year 2 years before the year for which the

 

 

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1applicable annual tax is levied, multiplied by 1.40 for the tax
2levy year 1970; by 1.50 for the year 1971; by 1.65 for 1972; by
31.85 for 1973; by 1.90 for 1974; by 1.97 for 1975 through 1981;
4by 2.00 for 1982 and for each tax levy year through 2014.
5Beginning in tax levy year 2015, the city council shall levy a
6tax annually at a rate on the dollar of the assessed valuation
7of all taxable property that will produce when extended an
8annual amount that is equal to no less than the amount of the
9city's contribution in each of the following payment years: for
102016, $420,000,000; for 2017, $464,000,000; for 2018,
11$500,000,000; for 2019, $557,000,000; for 2020, $579,000,000.
12    Beginning in tax levy year 2020, the city council shall
13levy a tax annually at a rate on the dollar of the assessed
14valuation of all taxable property that will produce when
15extended an annual amount that is equal to no less than (1) the
16normal cost to the Fund, plus (2) an annual amount sufficient
17to bring the total assets of the Fund up to 90% of the total
18actuarial liabilities of the Fund by the end of fiscal year
192055 2040, as annually updated and determined by an enrolled
20actuary employed by the Illinois Department of Insurance or by
21an enrolled actuary retained by the Fund or the city. In making
22these determinations, the required minimum employer
23contribution shall be calculated each year as a level
24percentage of payroll over the years remaining up to and
25including fiscal year 2055 2040 and shall be determined under
26the entry age normal actuarial cost method. Beginning in

 

 

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1payment year 2056, the city's total required contribution in
2that year and each year thereafter shall be an annual amount
3that is equal to no less than (1) the normal cost of the Fund,
4plus (2) the annual amount determined by an enrolled actuary
5employed by the Illinois Department of Insurance or by an
6enrolled actuary retained by the Fund to be equal to the
7amount, if any, needed to bring the total actuarial assets of
8the Fund up to 90% of the total actuarial liabilities of the
9Fund as of the end of the year, utilizing the entry age normal
10cost method as provided above projected unit credit actuarial
11cost method.
12    For the purposes of this subsection (a), contributions by
13the policeman to the Fund shall not include payments made by a
14policeman to establish credit under Section 5-214.2 of this
15Code.
16    (a-5) For purposes of determining the required employer
17contribution to the Fund, the value of the Fund's assets shall
18be equal to the actuarial value of the Fund's assets, which
19shall be calculated as follows:
20        (1) On March 30, 2011, the actuarial value of the
21    Fund's assets shall be equal to the market value of the
22    assets as of that date.
23        (2) In determining the actuarial value of the Fund's
24    assets for fiscal years after March 30, 2011, any actuarial
25    gains or losses from investment return incurred in a fiscal
26    year shall be recognized in equal annual amounts over the

 

 

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1    5-year period following that fiscal year.
2    (a-7) If the city fails to transmit to the Fund
3contributions required of it under this Article for more than
490 days after the payment of those contributions is due, the
5Fund shall may, after giving notice to the city, certify to the
6State Comptroller the amounts of the delinquent payments, and
7the Comptroller must, beginning in fiscal year 2016, deduct and
8deposit into the Fund the certified amounts or a portion of
9those amounts from the following proportions of grants of State
10funds to the city:
11        (1) in fiscal year 2016, one-third of the total amount
12    of any grants of State funds to the city;
13        (2) in fiscal year 2017, two-thirds of the total amount
14    of any grants of State funds to the city; and
15        (3) in fiscal year 2018 and each fiscal year
16    thereafter, the total amount of any grants of State funds
17    to the city.
18    The State Comptroller may not deduct from any grants of
19State funds to the city more than the amount of delinquent
20payments certified to the State Comptroller by the Fund.
21    (b) The tax shall be levied and collected in like manner
22with the general taxes of the city, and is in addition to all
23other taxes which the city is now or may hereafter be
24authorized to levy upon all taxable property therein, and is
25exclusive of and in addition to the amount of tax the city is
26now or may hereafter be authorized to levy for general purposes

 

 

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1under any law which may limit the amount of tax which the city
2may levy for general purposes. The county clerk of the county
3in which the city is located, in reducing tax levies under
4Section 8-3-1 of the Illinois Municipal Code, shall not
5consider the tax herein authorized as a part of the general tax
6levy for city purposes, and shall not include the tax in any
7limitation of the percent of the assessed valuation upon which
8taxes are required to be extended for the city.
9    (c) On or before January 10 of each year, the board shall
10notify the city council of the requirement that the tax herein
11authorized be levied by the city council for that current year.
12The board shall compute the amounts necessary for the purposes
13of this fund to be credited to the reserves established and
14maintained within the fund; shall make an annual determination
15of the amount of the required city contributions; and shall
16certify the results thereof to the city council.
17    As soon as any revenue derived from the tax is collected it
18shall be paid to the city treasurer of the city and shall be
19held by him for the benefit of the fund in accordance with this
20Article.
21    (d) If the funds available are insufficient during any year
22to meet the requirements of this Article, the city may issue
23tax anticipation warrants against the tax levy for the current
24fiscal year.
25    (e) The various sums, including interest, to be contributed
26by the city, shall be taken from the revenue derived from such

 

 

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1tax or otherwise as expressly provided in this Section. Any
2moneys of the city derived from any source other than the tax
3herein authorized shall not be used for any purpose of the fund
4nor the cost of administration thereof, unless applied to make
5the deposit expressly authorized in this Section or the
6additional city contributions required under subsection (h).
7    (f) If it is not possible or practicable for the city to
8make its contributions at the time that salary deductions are
9made, the city shall make such contributions as soon as
10possible thereafter, with interest thereon to the time it is
11made.
12    (g) In lieu of levying all or a portion of the tax required
13under this Section in any year, the city may deposit with the
14city treasurer no later than March 1 of that year for the
15benefit of the fund, to be held in accordance with this
16Article, an amount that, together with the taxes levied under
17this Section for that year, is not less than the amount of the
18city contributions for that year as certified by the board to
19the city council. The deposit may be derived from any source
20legally available for that purpose, including, but not limited
21to, the proceeds of city borrowings. The making of a deposit
22shall satisfy fully the requirements of this Section for that
23year to the extent of the amounts so deposited. Amounts
24deposited under this subsection may be used by the fund for any
25of the purposes for which the proceeds of the tax levied under
26this Section may be used, including the payment of any amount

 

 

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1that is otherwise required by this Article to be paid from the
2proceeds of that tax.
3    (h) In addition to the contributions required under the
4other provisions of this Article, by November 1 of the
5following specified years, the city shall deposit with the city
6treasurer for the benefit of the fund, to be held and used in
7accordance with this Article, the following specified amounts:
8$6,300,000 in 1999; $5,880,000 in 2000; $5,460,000 in 2001;
9$5,040,000 in 2002; and $4,620,000 in 2003.
10    The additional city contributions required under this
11subsection are intended to decrease the unfunded liability of
12the fund and shall not decrease the amount of the city
13contributions required under the other provisions of this
14Article. The additional city contributions made under this
15subsection may be used by the fund for any of its lawful
16purposes.
17    (i) Any proceeds received by the city in relation to the
18operation of a casino or casinos within the city shall be
19expended by the city for payment to the Policemen's Annuity and
20Benefit Fund of Chicago to satisfy the city contribution
21obligation in any year.
22(Source: P.A. 95-1036, eff. 2-17-09; 96-1495, eff. 1-1-11.)
 
23    (40 ILCS 5/5-168.2 new)
24    Sec. 5-168.2. Funding obligation.
25    (a) Beginning January 1, 2016, the city shall be obligated

 

 

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1to contribute to the Fund in each fiscal year an amount not
2less than the amount determined annually under subsection (a)
3of Section 5-168 of this Code. Notwithstanding any other
4provision of law, if the city fails to pay the amount
5guaranteed under this Section on or before December 31 of the
6year in which such amount is due, the Fund may bring a mandamus
7action in the Circuit Court of Cook County to compel the city
8to make the required payment, irrespective of other remedies
9that may be available to the Fund. The obligations and causes
10of action created under this Section shall be in addition to
11any other right or remedy otherwise accorded by common law or
12State or federal law, and nothing in this Section shall be
13construed to deny, abrogate, impair, or waive any such common
14law or statutory right or remedy.
15    (b) In ordering the city to make the required payment, the
16court may order a reasonable payment schedule to enable the
17city to make the required payment without significantly
18imperilling the public health, safety, or welfare. Any payments
19required to be made by the city pursuant to this Section are
20expressly subordinated to the payment of the principal,
21interest, premium, if any, and other payments on or related to
22any bonded debt obligation of the city, either currently
23outstanding or to be issued, for which the source of repayment
24or security thereon is derived directly or indirectly from any
25funds collected or received by the city. Payments on such
26bonded obligations include any statutory fund transfers or

 

 

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1other prefunding mechanisms or formulas set forth, now or
2hereafter, in State law, city ordinance, or bond indentures,
3into debt service funds or accounts of the city related to such
4bonded obligations, consistent with the payment schedules
5associated with such obligations.
 
6    (40 ILCS 5/6-128.2)   (from Ch. 108 1/2, par. 6-128.2)
7    Sec. 6-128.2. Minimum retirement annuities.
8    (a) Beginning with the monthly payment due in January,
91988, the monthly annuity payment for any person who is
10entitled to receive a retirement annuity under this Article in
11January, 1990 and has retired from service at age 50 or over
12with 20 or more years of service, and for any person who
13retires from service on or after January 24, 1990 at age 50 or
14over with 20 or more years of service, shall not be less than
15$475 per month. The $475 minimum annuity is exclusive of any
16automatic annual increases provided by Sections 6-164 and
176-164.1, but not exclusive of previous raises in the minimum
18annuity as provided by any Section of this Article.
19    Beginning January 1, 1992, the minimum retirement annuity
20payable to any person who has retired from service at age 50 or
21over with 20 or more years of service and is entitled to
22receive a retirement annuity under this Article on that date,
23or who retires from service at age 50 or over with 20 or more
24years of service after that date, shall be $650 per month.
25    Beginning January 1, 1993, the minimum retirement annuity

 

 

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1payable to any person who has retired from service at age 50 or
2over with 20 or more years of service and is entitled to
3receive a retirement annuity under this Article on that date,
4or who retires from service at age 50 or over with 20 or more
5years of service after that date, shall be $750 per month.
6    Beginning January 1, 1994, the minimum retirement annuity
7payable to any person who has retired from service at age 50 or
8over with 20 or more years of service and is entitled to
9receive a retirement annuity under this Article on that date,
10or who retires from service at age 50 or over with 20 or more
11years of service after that date, shall be $850 per month.
12    Beginning January 1, 2004, the minimum retirement annuity
13payable to any person who has retired from service at age 50 or
14over with 20 or more years of service and is entitled to
15receive a retirement annuity under this Article on that date,
16or who retires from service at age 50 or over with 20 or more
17years of service after that date, shall be $950 per month.
18    Beginning January 1, 2005, the minimum retirement annuity
19payable to any person who has retired from service at age 50 or
20over with 20 or more years of service and is entitled to
21receive a retirement annuity under this Article on that date,
22or who retires from service at age 50 or over with 20 or more
23years of service after that date, shall be $1,050 per month.
24    Beginning January 1, 2016, the minimum retirement annuity
25payable to any person who has retired from service at age 50 or
26over with 20 or more years of service and is entitled to

 

 

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1receive a retirement annuity under this Article on that date,
2or who retires from service at age 50 or over with 20 or more
3years of service after that date, shall be no less than 125% of
4the Federal Poverty Level. For purposes of this Section, the
5"Federal Poverty Level" shall be determined pursuant to the
6poverty guidelines updated periodically in the Federal
7Register by the United States Department of Health and Human
8Services under the authority of 42 U.S.C. 9902(2).
9    The minimum annuities established by this subsection (a) do
10include previous raises in the minimum annuity as provided by
11any Section of this Article, but do not include any sums which
12have been added or will be added to annuity payments by the
13automatic annual increases provided by Sections 6-164 and
146-164.1. Such annual increases shall be paid in addition to the
15minimum amounts specified in this subsection.
16    (b) Notwithstanding any other provision of this Article,
17beginning January 1, 1990, the minimum retirement annuity
18payable to any person who is entitled to receive a retirement
19annuity under this Article on that date shall be $475 per
20month.
21    (c) The changes made to this Section by this amendatory Act
22of the 93rd General Assembly apply to all persons receiving a
23retirement annuity under this Article, without regard to
24whether the retirement of the fireman occurred prior to the
25effective date of this amendatory Act.
26(Source: P.A. 93-654, eff. 1-16-04.)
 

 

 

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1    (40 ILCS 5/6-165)   (from Ch. 108 1/2, par. 6-165)
2    Sec. 6-165. Financing; tax.
3    (a) Except as expressly provided in this Section, each city
4shall levy a tax annually upon all taxable property therein for
5the purpose of providing revenue for the fund. For the years
6prior to the year 1960, the tax rate shall be as provided for
7in the "Firemen's Annuity and Benefit Fund of the Illinois
8Municipal Code". The tax, from and after January 1, 1968 to and
9including the year 1971, shall not exceed .0863% of the value,
10as equalized or assessed by the Department of Revenue, of all
11taxable property in the city. Beginning with the year 1972 and
12through 2014, the city shall levy a tax annually at a rate on
13the dollar of the value, as equalized or assessed by the
14Department of Revenue of all taxable property within such city
15that will produce, when extended, not to exceed an amount equal
16to the total amount of contributions by the employees to the
17fund made in the calendar year 2 years prior to the year for
18which the annual applicable tax is levied, multiplied by 2.23
19through the calendar year 1981, and by 2.26 for the year 1982
20and for each tax levy year through 2014. Beginning in tax levy
21year 2015, the city council shall levy a tax annually at a rate
22on the dollar of the assessed valuation of all taxable property
23that will produce when extended an annual amount that is equal
24to no less than the amount of the city's contribution in each
25of the following payment years: for 2016, $199,000,000; for

 

 

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12017, $208,000,000; for 2018, $227,000,000; for 2019,
2$235,000,000; for 2020, $245,000,000.
3    Beginning in tax levy year 2020, the city council shall
4levy a tax annually at a rate on the dollar of the assessed
5valuation of all taxable property that will produce when
6extended an annual amount that is equal to no less than (1) the
7normal cost to the Fund, plus (2) an annual amount sufficient
8to bring the total assets of the Fund up to 90% of the total
9actuarial liabilities of the Fund by the end of fiscal year
102055 2040, as annually updated and determined by an enrolled
11actuary employed by the Illinois Department of Insurance or by
12an enrolled actuary retained by the Fund or the city. In making
13these determinations, the required minimum employer
14contribution shall be calculated each year as a level
15percentage of payroll over the years remaining up to and
16including fiscal year 2055 2040 and shall be determined under
17the entry age normal actuarial cost method. Beginning in
18payment year 2056, the city's required contribution in that
19year and for each year thereafter shall be an annual amount
20that is equal to no less than (1) the normal cost to the Fund,
21plus (2) the annual amount determined by an enrolled actuary
22employed by the Illinois Department of Insurance or by an
23enrolled actuary retained by the Fund to be equal to the
24amount, if any, needed to bring the total actuarial assets of
25the Fund up to 90% of the total actuarial liabilities of the
26Fund as of the end of the year, utilizing the entry age normal

 

 

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1actuarial cost method as provided above projected unit credit
2actuarial cost method.
3    To provide revenue for the ordinary death benefit
4established by Section 6-150 of this Article, in addition to
5the contributions by the firemen for this purpose, the city
6council shall for the year 1962 and each year thereafter
7annually levy a tax, which shall be in addition to and
8exclusive of the taxes authorized to be levied under the
9foregoing provisions of this Section, upon all taxable property
10in the city, as equalized or assessed by the Department of
11Revenue, at such rate per cent of the value of such property as
12shall be sufficient to produce for each year the sum of
13$142,000.
14    The amounts produced by the taxes levied annually, together
15with the deposit expressly authorized in this Section, shall be
16sufficient, when added to the amounts deducted from the
17salaries of firemen and applied to the fund, to provide for the
18purposes of the fund.
19    (a-5) For purposes of determining the required employer
20contribution to the Fund, the value of the Fund's assets shall
21be equal to the actuarial value of the Fund's assets, which
22shall be calculated as follows:
23        (1) On March 30, 2011, the actuarial value of the
24    Fund's assets shall be equal to the market value of the
25    assets as of that date.
26        (2) In determining the actuarial value of the Fund's

 

 

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1    assets for fiscal years after March 30, 2011, any actuarial
2    gains or losses from investment return incurred in a fiscal
3    year shall be recognized in equal annual amounts over the
4    5-year period following that fiscal year.
5    (a-7) If the city fails to transmit to the Fund
6contributions required of it under this Article for more than
790 days after the payment of those contributions is due, the
8Fund shall may, after giving notice to the city, certify to the
9State Comptroller the amounts of the delinquent payments, and
10the Comptroller must, beginning in fiscal year 2016, deduct and
11deposit into the Fund the certified amounts or a portion of
12those amounts from the following proportions of grants of State
13funds to the city:
14        (1) in fiscal year 2016, one-third of the total amount
15    of any grants of State funds to the city;
16        (2) in fiscal year 2017, two-thirds of the total amount
17    of any grants of State funds to the city; and
18        (3) in fiscal year 2018 and each fiscal year
19    thereafter, the total amount of any grants of State funds
20    to the city.
21    The State Comptroller may not deduct from any grants of
22State funds to the city more than the amount of delinquent
23payments certified to the State Comptroller by the Fund.
24    (b) The taxes shall be levied and collected in like manner
25with the general taxes of the city, and shall be in addition to
26all other taxes which the city may levy upon all taxable

 

 

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1property therein and shall be exclusive of and in addition to
2the amount of tax the city may levy for general purposes under
3Section 8-3-1 of the Illinois Municipal Code, approved May 29,
41961, as amended, or under any other law or laws which may
5limit the amount of tax which the city may levy for general
6purposes.
7    (c) The amounts of the taxes to be levied in each year
8shall be certified to the city council by the board.
9    (d) As soon as any revenue derived from such taxes is
10collected, it shall be paid to the city treasurer and held for
11the benefit of the fund, and all such revenue shall be paid
12into the fund in accordance with the provisions of this
13Article.
14    (e) If the funds available are insufficient during any year
15to meet the requirements of this Article, the city may issue
16tax anticipation warrants, against the tax levies herein
17authorized for the current fiscal year.
18    (f) The various sums, hereinafter stated, including
19interest, to be contributed by the city, shall be taken from
20the revenue derived from the taxes or otherwise as expressly
21provided in this Section. Except for defraying the cost of
22administration of the fund during the calendar year in which a
23city first attains a population of 500,000 and comes under the
24provisions of this Article and the first calendar year
25thereafter, any money of the city derived from any source other
26than these taxes or the sale of tax anticipation warrants shall

 

 

09900SB0777ham004- 22 -LRB099 07693 EFG 36392 a

1not be used to provide revenue for the fund, nor to pay any
2part of the cost of administration thereof, unless applied to
3make the deposit expressly authorized in this Section or the
4additional city contributions required under subsection (h).
5    (g) In lieu of levying all or a portion of the tax required
6under this Section in any year, the city may deposit with the
7city treasurer no later than March 1 of that year for the
8benefit of the fund, to be held in accordance with this
9Article, an amount that, together with the taxes levied under
10this Section for that year, is not less than the amount of the
11city contributions for that year as certified by the board to
12the city council. The deposit may be derived from any source
13legally available for that purpose, including, but not limited
14to, the proceeds of city borrowings. The making of a deposit
15shall satisfy fully the requirements of this Section for that
16year to the extent of the amounts so deposited. Amounts
17deposited under this subsection may be used by the fund for any
18of the purposes for which the proceeds of the taxes levied
19under this Section may be used, including the payment of any
20amount that is otherwise required by this Article to be paid
21from the proceeds of those taxes.
22    (h) In addition to the contributions required under the
23other provisions of this Article, by November 1 of the
24following specified years, the city shall deposit with the city
25treasurer for the benefit of the fund, to be held and used in
26accordance with this Article, the following specified amounts:

 

 

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1$6,300,000 in 1999; $5,880,000 in 2000; $5,460,000 in 2001;
2$5,040,000 in 2002; and $4,620,000 in 2003.
3    The additional city contributions required under this
4subsection are intended to decrease the unfunded liability of
5the fund and shall not decrease the amount of the city
6contributions required under the other provisions of this
7Article. The additional city contributions made under this
8subsection may be used by the fund for any of its lawful
9purposes.
10    (i) Any proceeds received by the city in relation to the
11operation of a casino or casinos within the city shall be
12expended by the city for payment to the Firemen's Annuity and
13Benefit Fund of Chicago to satisfy the city contribution
14obligation in any year.
15(Source: P.A. 96-1495, eff. 1-1-11.)
 
16    (40 ILCS 5/6-165.2 new)
17    Sec. 6-165.2. Funding Obligation.
18    (a) Beginning January 1, 2016, the city shall be obligated
19to contribute to the Fund in each fiscal year an amount not
20less than the amount determined annually under subsection (a)
21of Section 6-165 of this Code. Notwithstanding any other
22provision of law, if the city fails to pay the amount
23guaranteed under this Section on or before December 31 of the
24year in which such amount is due, the Fund may bring a mandamus
25action in the Circuit Court of Cook County to compel the city

 

 

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1to make the required payment, irrespective of other remedies
2that may be available to the Fund. The obligations and causes
3of action created under this Section shall be in addition to
4any other right or remedy otherwise accorded by common law or
5State or federal law, and nothing in this Section shall be
6construed to deny, abrogate, impair, or waive any such common
7law or statutory right or remedy.
8    (b) In ordering the city to make the required payment, the
9court may order a reasonable payment schedule to enable the
10city to make the required payment without significantly
11imperilling the public health, safety, or welfare. Any payments
12required to be made by the city pursuant to this Section are
13expressly subordinated to the payment of the principal,
14interest, premium, if any, and other payments on or related to
15any bonded debt obligation of the city, either currently
16outstanding or to be issued, for which the source of repayment
17or security thereon is derived directly or indirectly from any
18funds collected or received by the city or collected or
19received on behalf of the city. Payments on such bonded
20obligations include any statutory fund transfers or other
21prefunding mechanisms or formulas set forth, now or hereafter,
22in State law, city ordinance, or bond indentures, into debt
23service funds or accounts of the city related to such bonded
24obligations, consistent with the payment schedules associated
25with such obligations.
 

 

 

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1    Section 99. Effective date. This Act takes effect upon
2becoming law.".