Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process.
Recent laws may not yet be included in the ILCS database, but they are found on this site as
Public
Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the
Guide.
Because the statute database is maintained primarily for legislative drafting purposes,
statutory changes are sometimes included in the statute database before they take effect.
If the source note at the end of a Section of the statutes includes a Public Act that has
not yet taken effect, the version of the law that is currently in effect may have already
been removed from the database and you should refer to that Public Act to see the changes
made to the current law.
(40 ILCS 5/15-113.7) (from Ch. 108 1/2, par. 15-113.7)
Sec. 15-113.7. Service for other public employment. "Service for
other public employment": Includes those periods not exceeding the lesser of
10 years or 2/3 of the service granted under other Sections of this Article
dealing with service credit, during which a person was employed full time by
the United States government, or by the government of a state, or by a
political subdivision of a state, or by an agency or instrumentality of any of
the foregoing, if the person (1) cannot qualify for a retirement pension or
other benefit based upon employer contributions from another retirement system,
exclusive of federal social security, based in whole or in part upon this
employment, and (2) pays the lesser of (A) an amount equal to 8% of his or her
annual basic compensation on the date of becoming a participating employee
subsequent to this service multiplied by the number of years of such service,
together with compound interest from the date participation begins to the date
payment is received by the board at the rate of 6% per annum through August 31,
1982, and at the effective rates after that date, and (B) 50% of the actuarial
value of the increase in the retirement annuity provided by this service, and
(3) contributes for at least 5 years subsequent to this employment to one or
more of the following systems: the State Universities Retirement System, the
Teachers' Retirement System of the State of Illinois, and the Public School
Teachers' Pension and Retirement Fund of Chicago. If a function of a
governmental unit as defined by Section 20-107 is transferred by law, in whole
or in part to an employer, and an employee transfers employment from this
governmental unit to such employer within 6 months of the transfer of the
function, the payment for service authorized under this Section shall not
exceed the amount which would have been payable for this service to the
retirement system covering the governmental unit from which the function was
transferred.
The service granted under this Section shall not be considered in determining
whether the person has the minimum of 8 years of service required to qualify
for a retirement annuity at age 55 or the 5 years of service required to
qualify for a retirement annuity at age 62, as provided in Section 15-135.
The maximum allowable service of 10 years for this governmental employment
shall be reduced by the service credit which is validated under paragraph
(2) of subsection (b) of Section 16-127 and paragraph one of Section 17-133.
Except as hereinafter provided, this Section shall not apply to
persons who become participants in the system after September 1, 1974.
(Source: P.A. 95-83, eff. 8-13-07.)
|
