Full Text of SB1741 95th General Assembly
SB1741 95TH GENERAL ASSEMBLY
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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008 SB1741
Introduced 2/9/2007, by Sen. William Delgado SYNOPSIS AS INTRODUCED: |
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40 ILCS 5/5-214.2 new |
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30 ILCS 805/8.31 new |
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Amends the Chicago Police Article of the Illinois Pension Code. Authorizes an active member with at least 5 years of creditable service to establish up to 10 years of additional service credit for certain employment as a law enforcement officer with a downstate municipal police department, the Cook County Police Department, the State of Illinois, or the Chicago Housing Authority. Requires the applicant to pay employee and employer contributions, plus interest; permits the use of rollover contributions. 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 |
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A BILL FOR
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SB1741 |
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LRB095 06678 AMC 26790 b |
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| AN ACT concerning public employee benefits.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Illinois Pension Code is amended by adding | 5 |
| Section 5-214.2 as follows: | 6 |
| (40 ILCS 5/5-214.2 new) | 7 |
| Sec. 5-214.2. Credit for certain law enforcement service. | 8 |
| An active policeman in this Fund with at least 5 years of | 9 |
| creditable service may establish up to 10 years of additional | 10 |
| service credit for employment as a police officer in the police | 11 |
| department of a municipality as defined in Article 3 of this | 12 |
| Code, as a member of the County Police Department under Article | 13 |
| 9 of this Code, as a State Policeman or other law enforcement | 14 |
| officer under the alternative formula (Section 14-110) of | 15 |
| Article 14, or as a law enforcement officer with the Chicago | 16 |
| Housing Authority, provided that: (1) service credit is not | 17 |
| available for that employment under any other provision of this | 18 |
| Article; (2) any service credit for that employment received | 19 |
| under Article 3, Article 9, Article 14, or any other provision | 20 |
| of this Code, or under the retirement plan of the Chicago | 21 |
| Housing Authority, has been terminated; and (3) the policeman | 22 |
| applies for this credit in writing before January 1, 2009 and | 23 |
| pays to the Fund before withdrawal from service an amount to be |
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SB1741 |
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LRB095 06678 AMC 26790 b |
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| determined by the Fund, equal to (i) an amount representing | 2 |
| employee contributions, based on the annual salary rate | 3 |
| received by the policeman at the time of first participating in | 4 |
| this Fund after the employment for which service credit is | 5 |
| being established and the employee contribution rate then in | 6 |
| effect, plus (ii) an amount representing employer | 7 |
| contributions, as determined by the Fund, plus (iii) interest | 8 |
| at the rate of 4% per year, compounded annually, on items (i) | 9 |
| and (ii) from the date of first participating in this Fund | 10 |
| after the employment for which service credit is being | 11 |
| established to the date of payment. Rollover contributions from | 12 |
| other retirement plans qualified under the U.S. Internal | 13 |
| Revenue Code of 1986 may be used to make the payment required | 14 |
| under this Section.
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| Section 90. The State Mandates Act is amended by adding | 16 |
| Section 8.31 as follows: | 17 |
| (30 ILCS 805/8.31 new) | 18 |
| Sec. 8.31. 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 95th General Assembly.
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| Section 99. Effective date. This Act takes effect upon | 23 |
| becoming law.
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