Illinois General Assembly - Full Text of SB3778
Illinois General Assembly

  Bills & Resolutions  
  Compiled Statutes  
  Public Acts  
  Legislative Reports  
  IL Constitution  
  Legislative Guide  
  Legislative Glossary  

 Search By Number
 (example: HB0001)
Search Tips

Search By Keyword

Full Text of SB3778  102nd General Assembly

SB3778sam002 102ND GENERAL ASSEMBLY

Sen. Christopher Belt

Filed: 2/7/2022

 

 


 

 


 
10200SB3778sam002LRB102 23771 RPS 35890 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 either the Department of Revenue or the
7Illinois Gaming Board may elect to convert service credit
8earned under this Article to eligible creditable service, as
9defined by this Section, by filing a written election with the
10Board within 6 months after the effective date of this
11amendatory Act of the 102nd General Assembly and paying to the
12System an amount to be determined by the Board equal to (i) the
13difference between the amount of employee contributions
14originally paid for that service and the amounts that would
15have been contributed had such contributions been made at the
16rates applicable to investigators of the Department of Revenue

 

 

10200SB3778sam002- 2 -LRB102 23771 RPS 35890 a

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