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90_HB2718
40 ILCS 5/11-221.1 from Ch. 108 1/2, par. 11-221.1
Amends the Illinois Pension Code. Makes technical
changes in a Section of the Chicago Laborer Article relating
to contributions.
LRB9010244EGfg
LRB9010244EGfg
1 AN ACT to amend the Illinois Pension Code by changing
2 Section 11-221.1.
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 11-221.1 as follows:
7 (40 ILCS 5/11-221.1) (from Ch. 108 1/2, par. 11-221.1)
8 Sec. 11-221.1. Right of employees to contribute for
9 certain other service. Any employee in the service, after
10 having made contributions covering a period of 10 ten or more
11 years to the annuity and benefit fund herein provided for,
12 may elect to pay for and receive credit for all annuity
13 purposes for service theretofore rendered by the employee him
14 to the Chicago Transit Authority created by the "Metropolitan
15 Transit Authority Act", approved April 12, 1945, as amended;
16 provided, that if the such employee has more than 10 ten
17 years of such service, only the last 10 ten years of such
18 service shall be credited. Such service credit may be paid
19 for and granted on the same basis and conditions as are
20 applicable in the case of employees who make payment for past
21 service under the provisions of Section the immediately
22 preceding Sec. 11-221, but on the assumption that the such
23 employee's salary throughout all of his or her service with
24 the such Authority was at the rate of the employee's his
25 salary at the date of his or her entrance into the service as
26 an employee. In no event, however, shall such service be
27 credited if the such employee has not forfeited and
28 relinquished pension credit for service covering such period
29 under any pension or retirement plan applicable to the such
30 Authority and instituted and maintained by the such Authority
31 for the benefit of its employees.
-2- LRB9010244EGfg
1 (Source: P. A. 77-1761; revised 8-8-97.)