(820 ILCS 405/1502.2) (from Ch. 48, par. 572.2)
Sec. 1502.2.
Benefit conversion factor.
A. For calendar year
1991, the benefit conversion factor shall be the total benefit wages
based on the total benefits paid under this Act which would have become
benefit wages pursuant to Sections 1501 and 1502 for the 12 consecutive
calendar month period ending June 30, 1990, if Sections 1501 and 1502 were
applicable during such period, divided by the total benefits paid under
this Act for the same 12 month period.
B. For calendar year 1992, the benefit conversion factor shall
be the total benefit wages based on the total benefits paid under this Act
which would have become benefit wages pursuant to Sections 1501 and 1502
for the 24 consecutive calendar month period ending June 30, 1991, if
Sections 1501 and 1502 were applicable during such period, divided by the
total benefits paid under this Act for the same 24 month period.
C. For calendar year 1993 and each calendar year thereafter, the
benefit conversion factor shall be the total benefit wages based on the
total benefits paid under this Act which would have become benefit wages
pursuant to Sections 1501 and 1502 for the 36 consecutive calendar month
period ending June 30, 1992, if Sections 1501 and 1502 were applicable
during such period, divided by the total benefits paid under this Act for
the same 36 month period.
D. If the number obtained in the preceding subsections is not
an exact multiple of one-tenth of one percent, it shall be increased
or reduced, as the case may be, to the nearer multiple of one-tenth
of one percent. If such number is equally near to 2 multiples
of one-tenth of one percent, it shall be increased to the higher
multiple of one-tenth of one percent.
E. Notwithstanding the above provisions of this Section, the benefit
conversion factor shall not exceed 167 percent.
(Source: P.A. 85-956; 85-1009.)
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