Illinois General Assembly - Full Text of SB3778
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Full Text of SB3778  102nd General Assembly

SB3778sam001 102ND GENERAL ASSEMBLY

Sen. Christopher Belt

Filed: 2/7/2022

 

 


 

 


 
10200SB3778sam001LRB102 23771 RPS 35933 a

1
AMENDMENT TO SENATE BILL 3778

2    AMENDMENT NO. ______. Amend Senate Bill 3778 as follows:
 
3on page 26, immediately below line 13, by inserting the
4following:
 
5    "Notwithstanding the limitation in subsection (i), an
6investigator for the Department of Revenue, investigator for
7the Illinois Gaming Board, or arson investigator may elect to
8convert service credit earned under this Article to eligible
9creditable service, as defined by this Section, by filing a
10written election with the Board within 6 months after the
11effective date of this amendatory Act of the 102nd General
12Assembly and paying to the System an amount to be determined by
13the Board equal to (i) the difference between the amount of
14employee contributions originally paid for that service and
15the amounts that would have been contributed had such
16contributions been made at the rates applicable to

 

 

10200SB3778sam001- 2 -LRB102 23771 RPS 35933 a

1investigators for the Department of Revenue, investigators for
2the Illinois Gaming Board, or arson investigators, plus (ii)
3the difference between the employer's normal cost of the
4credit prior to the conversion authorized by this amendatory
5Act of the 102nd General Assembly and the employer's normal
6cost of the credit converted in accordance with this
7amendatory Act of the 102nd General Assembly, plus (iii)
8interest thereon at the actuarially assumed rate for each
9year, compounded annually, from the date of service to the
10date of payment.".