State of Illinois
90th General Assembly
Legislation

   [ Search ]   [ Legislation ]   [ Bill Summary ]
[ Home ]   [ Back ]   [ Bottom ]


[ Introduced ][ Engrossed ][ Enrolled ]
[ House Amendment 001 ][ Senate Amendment 001 ]

90_HB0593sam002

                                           LRB9001461EGfgam07
 1                     AMENDMENT TO HOUSE BILL 593
 2        AMENDMENT NO.     .  Amend House Bill 593 on page  1,  in
 3    line 2, by changing "and 7-109" to "7-109, and 9-179.3"; and
 4    on  page 1, in line 8, by changing "and 7-109" to "7-109, and
 5    9-179.3"; and
 6    on page 14, below line 6, by inserting the following:
 7        "(40 ILCS 5/9-179.3) (from Ch. 108 1/2, par. 9-179.3)
 8        Sec. 9-179.3.  Optional plan of additional  benefits  and
 9    contributions.
10        (a)  While  this  plan  is  in  effect,  an  employee may
11    establish additional optional credit for additional  optional
12    benefits   by  electing  in  writing  at  any  time  to  make
13    additional  optional   contributions.    The   employee   may
14    discontinue  making  the additional optional contributions at
15    any time by notifying the fund in writing.
16        (b)  Additional optional contributions for the additional
17    optional benefits shall be as follows:
18             (1)  For service after the  option  is  elected,  an
19        additional   contribution   of  3%  of  salary  shall  be
20        contributed to the fund on the same basis and  under  the
21        same  conditions as contributions required under Sections
22        9-170 and 9-176.
                            -2-            LRB9001461EGfgam07
 1             (2)  For service before the option  is  elected,  an
 2        additional  contribution  of  3%  of  the  salary for the
 3        applicable  period  of  service,  plus  interest  at  the
 4        effective rate from the date of service to  the  date  of
 5        payment.   All  payments for past service must be paid in
 6        full before  credit  is  given.  No  additional  optional
 7        contributions  may  be made for any period of service for
 8        which credit has been previously forfeited by  acceptance
 9        of  a  refund,  unless  the refund is repaid in full with
10        interest at the effective rate from the date of refund to
11        the date of repayment.
12        (c)  Additional optional benefits shall  accrue  for  all
13    periods    of   eligible   service   for   which   additional
14    contributions are paid in full.  The additional benefit shall
15    consist of an additional 1% for  each  year  of  service  for
16    which  optional  contributions  have  been paid, based on the
17    highest average annual salary for  any  4  consecutive  years
18    within the last 10 years of service immediately preceding the
19    date  of  withdrawal,  to be added to the employee retirement
20    annuity benefits as otherwise computed  under  this  Article.
21    The calculation of these additional benefits shall be subject
22    to  the  same  terms  and  conditions  as  are  used  in  the
23    calculation  of  retirement annuity under Section 9-134.  The
24    additional benefit shall be included in  the  calculation  of
25    the   automatic  annual  increase  in  annuity,  and  in  the
26    calculation of widow's annuity, where applicable.  However no
27    additional benefits will be granted  which  produce  a  total
28    annuity  greater  than the applicable maximum established for
29    that type of annuity in this Article, and additional benefits
30    shall  not  apply  to  any  benefit  computed  under  Section
31    9-128.1.
32        (d)  Refunds of additional optional  contributions  shall
33    be  made  on  the same basis and under the same conditions as
34    provided under Sections 9-164,  9-166  and  9-167.   Interest
                            -3-            LRB9001461EGfgam07
 1    shall be credited at the effective rate on the same basis and
 2    under the same conditions as for other contributions.
 3        (e)  Optional  contributions  shall be accounted for in a
 4    separate Optional Contribution Reserve.
 5        (f)  The tax levy, computed under Section 9-169, shall be
 6    based on  employee  contributions  including  the  amount  of
 7    optional additional employee contributions.
 8        (g)  Service eligible under this Section may include only
 9    service  as  an  employee of the County as defined in Section
10    9-108, and subject to Sections 9-219 and 9-220.   No  service
11    granted  under  Section  9-121.1, 9-121.4 or 9-179.2 shall be
12    eligible for optional service credit.   No  optional  service
13    credit  may  be  established for any military service, or for
14    any service under any other Article of this  Code.   Optional
15    service   credit   may  be  established  for  any  period  of
16    disability  paid  from  this  fund,  if  the  employee  makes
17    additional  optional  contributions  for  such   periods   of
18    disability.
19        (h)  This  plan  of  optional  benefits and contributions
20    shall not apply to any former county  employee  receiving  an
21    annuity  from  the  fund,  who  re-enters service as a County
22    employee, unless he renders at least 3  years  of  additional
23    service after the date of re-entry.
24        (i)  The   effective   date   of  the  optional  plan  of
25    additional benefits and contributions shall be July 1,  1985,
26    or the date upon which approval is received from the Internal
27    Revenue Service, whichever is later.
28        (j)  This  plan  of additional benefits and contributions
29    shall expire July 1, 2002 1997.  No additional  contributions
30    may  be made after that date, and no additional benefits will
31    accrue after that date.
32    (Source: P.A. 86-1027; 87-794.)".

[ Top ]