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90_HB3515eng
40 ILCS 5/8-230.1 from Ch. 108 1/2, par. 8-230.1
Amends the Illinois Pension Code. Makes technical
changes in a Section of the Chicago Municipal Article
relating to contributions.
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1 AN ACT to amend the Illinois Pension Code by changing
2 Section 8-230.1.
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 8-230.1 as follows:
7 (40 ILCS 5/8-230.1) (from Ch. 108 1/2, par. 8-230.1)
8 Sec. 8-230.1. 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 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 or its predecessor public utilities; provided, that the last
17 5 years of service prior to retirement on annuity shall have
18 been as an employee of the City and a contributor to this
19 Fund. Such service credit may be paid for and granted on the
20 same basis and conditions as are applicable in the case of
21 employees who make payment for past service under the
22 provisions of Section the immediately preceding Sec. 8-230,
23 but on the assumption that the such employee's salary
24 throughout all of his or her service with the such Authority
25 or its predecessor public utilities was at the rate of the
26 employee's his salary at the date of his or her entrance into
27 the service as a municipal employee. In no event, however,
28 shall such service be credited if the such employee has not
29 forfeited and relinquished pension credit for service
30 covering such period under any pension or retirement plan
31 applicable to the such Authority or its predecessor public
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1 utilities, and instituted and maintained by the such
2 Authority or its predecessor public utilities for the benefit
3 of its employees.
4 (Source: P.A. 82-971; revised 8-8-97.)