(c) Additional optional benefits shall accrue for all periods of
eligible service for which additional contributions are paid in full. The
additional benefit shall consist of an additional 1% for each year of
service for which optional contributions have been paid, based on the
highest average annual salary for any 4 consecutive years within the last
10 years of service immediately preceding the date of withdrawal, to be
added to the employee retirement annuity benefits as otherwise computed
under this Article. The calculation of these additional benefits shall be
subject to the same terms and conditions as are used in the calculation of
retirement annuity under Section 9-134. The additional benefit shall be
included in the calculation of the automatic annual increase in annuity,
and in the calculation of widow's annuity, where applicable. However no
additional benefits will be granted which produce a total annuity greater
than the applicable maximum established for that type of annuity in this
Article, and additional benefits shall not apply to any benefit computed
under Section 9-128.1.
(d) Refunds of additional optional contributions shall be made on the
same basis and under the same conditions as provided under Sections 9-164,
9-166 and 9-167. Interest shall be credited at the effective rate on the
same basis and under the same conditions as for other contributions.
(e) (Blank).
(f) The tax levy, computed under Section 9-169, shall be based on
employee contributions including the amount of optional additional employee
contributions.
(g) Service eligible under this Section may include only service as an
employee of the County as defined in Section 9-108, and subject to Sections
9-219 and 9-220. No service granted under Section 9-121.1, 9-121.4 or
9-179.2 shall be eligible for optional service credit. No optional service
credit may be established for any military service, or for any service
under any other Article of this Code. Optional service credit may be
established for any period of disability paid from this fund, if the employee
makes additional optional contributions for such periods of disability.
(h) This plan of optional benefits and contributions shall not apply to
any former county employee receiving an annuity from the fund, who
re-enters service as a County employee, unless he renders at least 3 years
of additional service after the date of re-entry.
(i) The effective date of the optional plan of additional benefits and
contributions shall be July 1, 1985, or the date upon which approval is
received from the Internal Revenue Service, whichever is later.
(j) This plan of additional benefits and contributions shall expire
July 1, 2005. No additional contributions may be made after
that date, and no additional benefits will accrue after that date.
(Source: P.A. 95-369, eff. 8-23-07.)
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