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30 ILCS 105/30c
(30 ILCS 105/30c) (from Ch. 127, par. 166c)
Sec. 30c.
The acceptance of a reduction in earnings or the
foregoing of an increase in earnings by an employee in consideration for
which an employer pays the amount of the adjustment in earnings to an
insurance company or companies selected by the employer to be applied as
a premium on an annuity contract, with or without incidental life
insurance benefits, under which the employee's rights are
non-forfeitable except for failure to pay future premiums may be
permitted in the following cases:
(a) By any employer as defined in Section 15-106 of the "Illinois
Pension Code", for any employee;
(b) By any Department as defined in Section 14-103.04 of the
"Illinois Pension Code", for any employee;
(c) By the State Board of Education
with the State Comptroller for any employee who is certified under the laws
governing certification of teachers and is covered by the Teachers'
Retirement System of the State of Illinois;
(d) By the State Board of Education with the Comptroller
for any regional superintendent of schools or assistant regional
superintendent of schools; or
(e) By the Department of Children and Family Services, the Department of
Human Services, or the
Department of Corrections, each with the Comptroller for any teacher at
any of the institutions listed in Section 9 of the Children and Family Services Act, in Section 4 of the Mental Health and Developmental
Disabilities Administrative Act,
or in the Unified Code of Corrections.
The State may enter into agreements whereby individual
employees elect to receive, in lieu of salary or wages, benefits which are
not taxable under the federal Internal Revenue Code. Such agreements may
include the acceptance of a reduction in earnings or the foregoing of an
increase in earnings by an employee and the employer's payment of such
amounts, as employer contributions, for benefits which the employee selects
from a list of employee benefits offered by the employer.
The selection of the insurance company or companies, health care
provider or organization and the purchase of the contracts
shall not be subject to "The Illinois Purchasing Act".
Each employer, or Department, as specified in this Section, the
Department of Children and Family Services with the Comptroller, the
Department of Human Services with the
Comptroller or the Department of Corrections with the Comptroller or the
State Board of Education with the Comptroller, as the case
may be, may adopt rules to implement this Act including, but not by way
of limitation, (a) the method of filing an election to accept an
adjustment in earnings and revocation of the election, (b) the effective
date of an election, (c) changes in the amount of the adjustment in
earnings, and (d) selection of the organization, company
or companies from which contracts are to be purchased.
(Source: P.A. 89-507, eff. 7-1-97.)
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