Full Text of SB2156 99th General Assembly
SB2156sam001 99TH GENERAL ASSEMBLY | Sen. Bill Cunningham Filed: 9/9/2015
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| 1 | | AMENDMENT TO SENATE BILL 2156
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 2156 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 5. The Illinois Pension Code is amended by | 5 | | changing Section 15-110 as follows:
| 6 | | (40 ILCS 5/15-110) (from Ch. 108 1/2, par. 15-110)
| 7 | | Sec. 15-110. Basic compensation. "Basic compensation": | 8 | | (a) For an employee who first became a participant before | 9 | | the effective date of this amendatory Act of the 99th General | 10 | | Assembly, the The gross
basic rate of salary or wages payable | 11 | | by an employer, including the
value of maintenance, board, | 12 | | living quarters, personal laundry , or other
allowances | 13 | | furnished in lieu of salary which are considered gross income
| 14 | | under the federal Federal Internal Revenue Code, the employee | 15 | | contributions required
under Section 15-157, and the amount | 16 | | paid by any employer
to a custodial account for investment in |
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| 1 | | regulated investment company stocks
for the benefit of the | 2 | | employee pursuant to the University Employees Custodial | 3 | | Accounts Act "An Act in relation to payments
to custodial | 4 | | accounts for the benefit of employees of public institutions
of | 5 | | higher education", approved September 9, 1983 , and the
amount | 6 | | of the premium payable by any employer to an
insurance company | 7 | | or companies on an annuity contract, pursuant to the
employee's | 8 | | election to accept a reduction in earnings or forego an
| 9 | | increase in earnings under Section 30c of the State Finance Act | 10 | | "An Act in relation to State
Finance," approved June 10, 1919, | 11 | | as amended , or a tax-sheltered annuity
plan approved by any | 12 | | employer. For an employee who first became a participant before | 13 | | the effective date of this amendatory Act of the 99th General | 14 | | Assembly, basic Basic compensation does not include (1)
salary | 15 | | or wages for overtime or other extra service; (2) prospective | 16 | | salary
or wages under a summer teaching contract not yet | 17 | | entered upon; and (3)
overseas differential allowances, | 18 | | quarters allowances, post allowances,
educational allowances | 19 | | and transportation allowances paid by an employer
under a | 20 | | contract with the federal government or its agencies for
| 21 | | services rendered in other countries. If an employee who first | 22 | | became a participant before the effective date of this | 23 | | amendatory Act of the 99th General Assembly elects to receive | 24 | | in
lieu of cash salary or wages, fringe benefits which are not | 25 | | taxable under
the Federal Internal Revenue Code, the amount of | 26 | | the cash salary or wages
which is waived shall be included in |
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| 1 | | determining basic compensation. | 2 | | (b) For an employee who first becomes a participant on or | 3 | | after the effective date of this amendatory Act of the 99th | 4 | | General Assembly, the gross basic rate of salary or wages | 5 | | payable by an employer, the employee contributions required | 6 | | under Section 15-157, the amount paid by any employer to a | 7 | | custodial account for investment in regulated investment | 8 | | company stocks for the benefit of the employee pursuant to the | 9 | | University Employees Custodial Accounts Act, and the amount of | 10 | | the premium payable by any employer to an insurance company or | 11 | | companies on an annuity contract, pursuant to the employee's | 12 | | election to accept a reduction in earnings or forego an | 13 | | increase in earnings under Section 30c of the State Finance | 14 | | Act, or a tax-sheltered annuity plan approved by any employer. | 15 | | For an employee who first becomes a participant on or after the | 16 | | effective date of this amendatory Act of the 99th General | 17 | | Assembly, basic compensation does not include (1) salary or | 18 | | wages for overtime or other extra service; (2) prospective | 19 | | salary or wages under a summer teaching contract not yet | 20 | | entered upon; (3) overseas differential allowances, quarters | 21 | | allowances, post allowances, educational allowances and | 22 | | transportation allowances paid by an employer under a contract | 23 | | with the federal government or its agencies for services | 24 | | rendered in other countries; and (4) the value of maintenance, | 25 | | board, living quarters, personal laundry, or other allowances | 26 | | furnished in lieu of salary which are considered gross income |
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| 1 | | under the federal Internal Revenue Code. If an employee who | 2 | | first becomes a participant on or after the effective date of | 3 | | this amendatory Act of the 99th General Assembly elects to | 4 | | receive in lieu of cash salary or wages, fringe benefits which | 5 | | are not taxable under the federal Internal Revenue Code, the | 6 | | amount of the cash salary or wages which is waived shall not be | 7 | | included in determining basic compensation.
| 8 | | (Source: P.A. 84-1308.)".
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