Full Text of HB2071 101st General Assembly
HB2071 101ST GENERAL ASSEMBLY |
| | 101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020 HB2071 Introduced , by Rep. Michael J. Zalewski SYNOPSIS AS INTRODUCED: |
| 40 ILCS 5/9-179.4 new | | 30 ILCS 805/8.43 new | |
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Amends the Cook County Article of the Illinois Pension Code. Provides that a participant may establish service credit and earnings credit for periods of furlough beginning on or after December 1, 2017 and ending on or before November 30, 2018 if the participant applies before December 31, 2019, makes a specified contribution, and meets other criteria. Provides that a participant may establish earnings credit for periods of salary reduction beginning on or after December 1, 2017 and ending on or before November 30, 2018 if the participant applies before December 31, 2019, makes a specified contribution, and meets other criteria. 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 |
| | A BILL FOR |
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| | | HB2071 | | LRB101 04625 RPS 49633 b |
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| 1 | | AN ACT concerning public employee benefits.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 5. The Illinois Pension Code is amended by adding | 5 | | Section 9-179.4 as follows: | 6 | | (40 ILCS 5/9-179.4 new) | 7 | | Sec. 9-179.4. Service for periods of furlough or salary | 8 | | reduction. | 9 | | (a) A participant may establish service credit and earnings | 10 | | credit for periods of furlough beginning on or after December | 11 | | 1, 2017 and ending on or before November 30, 2018. To receive | 12 | | this credit, the participant must (i) apply in writing to the | 13 | | Fund before December 31, 2019; (ii) not receive compensation | 14 | | from the county for any furlough period; and (iii) make, on an | 15 | | after-tax basis, employee contributions required under this | 16 | | Article based on his or her salary during the periods of | 17 | | furlough, plus an amount determined by the Board to be equal to | 18 | | the employer's normal cost of the benefit, plus compounded | 19 | | interest at the actuarially assumed rate from the date of | 20 | | furlough to the date of payment. The participant shall provide, | 21 | | at the time of application, written certification from the | 22 | | county providing the total number of furlough days a | 23 | | participant has been required to take. |
| | | HB2071 | - 2 - | LRB101 04625 RPS 49633 b |
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| 1 | | (b) A participant may establish earnings credit for periods | 2 | | of salary reduction beginning on or after December 1, 2017 and | 3 | | ending on or before November 30, 2018 | | | . To receive this credit, | 4 | | the participant must: (1) apply in writing to the Fund before | 5 | | December 31, 2019; and (2) make, on an after-tax basis, | 6 | | employee contributions required under this Article based on the | 7 | | reduction in salary, plus an amount determined by the Board to | 8 | | be equal to the employer's normal cost of the benefit, plus | 9 | | compounded interest at the actuarially assumed rate from the | 10 | | date of reduction in salary to the date of payment. The | 11 | | participant shall provide, at the time of application, written | 12 | | certification from the county providing the total reduction in | 13 | | salary per pay period for each pay period with a reduction in | 14 | | salary. | 15 | | Section 90. The State Mandates Act is amended by adding | 16 | | Section 8.43 as follows: | 17 | | (30 ILCS 805/8.43 new) | 18 | | Sec. 8.43. Exempt mandate. Notwithstanding Sections 6 and 8 | 19 | | of this Act, no reimbursement by the State is required for the | 20 | | implementation of any mandate created by this amendatory Act of | 21 | | the 101st General Assembly.
| 22 | | Section 99. Effective date. This Act takes effect upon | 23 | | becoming law.
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