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90_HB0765
40 ILCS 5/15-112 from Ch. 108 1/2, par. 15-112
Amends the State Universities Article of the the Pension
Code to allow certain university firefighters to have their
benefits based on their salary on the last day of service as
a firefighter. Effective immediately.
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1 AN ACT to amend the Illinois Pension Code by changing
2 Section 15-112.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Pension Code is amended by
6 changing Section 15-112 as follows:
7 (40 ILCS 5/15-112) (from Ch. 108 1/2, par. 15-112)
8 Sec. 15-112. Final rate of earnings. "Final rate of
9 earnings": For an employee who is paid on an hourly basis or
10 who receives an annual salary in installments during 12
11 months of each academic year, the average annual earnings
12 during the 48 consecutive calendar month period ending with
13 the last day of final termination of employment or the 4
14 consecutive academic years of service in which the employee's
15 earnings were the highest, whichever is greater. For any
16 other employee, the average annual earnings during the 4
17 consecutive academic years of service in which his or her
18 earnings were the highest. For an employee with less than 48
19 months or 4 consecutive academic years of service, the
20 average earnings during his or her entire period of service.
21 The earnings of an employee with more than 36 months of
22 service prior to the date of becoming a participant are, for
23 such period, considered equal to the average earnings during
24 the last 36 months of such service. For an employee on leave
25 of absence with pay, or on leave of absence without pay who
26 makes contributions during such leave, earnings are assumed
27 to be equal to the basic compensation on the date the leave
28 began. For an employee on disability leave, earnings are
29 assumed to be equal to the basic compensation on the date
30 disability occurs or the average earnings during the 24
31 months immediately preceding the month in which disability
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1 occurs, whichever is greater.
2 For a participant who retires on or after the effective
3 date of this amendatory Act of 1997 with at least 20 years of
4 service as a firefighter under this Article, the final rate
5 of earnings shall be the annual rate of earnings received by
6 the participant on his or her last day as a firefighter under
7 this Article, if that is greater than the final rate of
8 earnings as calculated under the other provisions of this
9 Section.
10 If a participant is an employee for at least 6 months
11 during the academic year in which his or her employment is
12 terminated, the annual final rate of earnings shall be 25% of
13 the sum of (1) the annual basic compensation for that year,
14 and (2) the amount earned during the 36 months immediately
15 preceding that year, if this is greater than the final rate
16 of earnings as calculated under the other provisions of this
17 Section.
18 The following are not considered as earnings in
19 determining final rate of earnings: separation pay,
20 retirement pay, payment in lieu of unused sick leave and
21 payments from an employer for the period used in determining
22 final rate of earnings for any purpose other than services
23 rendered, leave of absence or vacation granted during that
24 period, and vacation of up to 56 work days allowed upon
25 termination of employment under a vacation policy of an
26 employer which was in effect on or before January 1, 1977.
27 Intermittent periods of service shall be considered as
28 consecutive in determining final rate of earnings.
29 (Source: P.A. 84-1472.)
30 Section 99. Effective date. This Act takes effect upon
31 becoming law.