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92_HB1964
LRB9206538LDcs
1 AN ACT in relation to public employee benefits.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Illinois Pension Code is amended by
5 changing Section 18-133 as follows:
6 (40 ILCS 5/18-133) (from Ch. 108 1/2, par. 18-133)
7 Sec. 18-133. Financing; employee contributions.
8 (a) Effective July 1, 1967, each participant is required
9 to contribute 7 1/2% of each payment of salary toward the
10 retirement annuity. Such contributions shall continue during
11 the entire time the participant is in service, with the
12 following exceptions:
13 (1) Contributions for the retirement annuity are
14 not required on salary received after 18 years of service
15 by persons who were participants before January 2, 1954.
16 (2) A participant who continues to serve as a judge
17 after becoming eligible to receive the maximum rate of
18 annuity may elect, through a written direction filed with
19 the Board, to discontinue contributing to the System.
20 Any such option elected by a judge shall be irrevocable
21 unless prior to January 1, 2003 2000, and while
22 continuing to serve as judge, the judge (A) files with
23 the Board a letter cancelling the direction to
24 discontinue contributing to the System and requesting
25 that such contributing resume, and (B) pays into the
26 System an amount equal to the total of the discontinued
27 contributions plus interest thereon at 5% per annum.
28 Service credits earned in any other "participating
29 system" as defined in Article 20 of this Code shall be
30 considered for purposes of determining a judge's
31 eligibility to discontinue contributions under this
-2- LRB9206538LDcs
1 subdivision (a)(2).
2 (3) A participant who (i) has attained age 60, (ii)
3 continues to serve as a judge after becoming eligible to
4 receive the maximum rate of annuity, and (ii) (iii) has
5 not elected to discontinue contributing to the System
6 under subdivision (a)(2) of this Section (or has revoked
7 any such election) may elect, through a written direction
8 filed with the Board, to make contributions to the System
9 based only on the amount of the increases in salary
10 received by the judge on or after the date of the
11 election, rather than the total salary received. If a
12 judge who is making contributions to the System on the
13 effective date of this amendatory Act of the 91st General
14 Assembly makes an election to limit contributions under
15 this subdivision (a)(3) within 90 days after that
16 effective date, the election shall be deemed to become
17 effective on that effective date and the judge shall be
18 entitled to receive a refund of any excess contributions
19 paid to the System during that 90-day period; any other
20 election under this subdivision (a)(3) becomes effective
21 on the first of the month following the date of the
22 election. An election to limit contributions under this
23 subdivision (a)(3) is irrevocable. Service credits
24 earned in any other participating system as defined in
25 Article 20 of this Code shall be considered for purposes
26 of determining a judge's eligibility to make an election
27 under this subdivision (a)(3).
28 (b) Beginning July 1, 1969, each participant is required
29 to contribute 1% of each payment of salary towards the
30 automatic increase in annuity provided in Section 18-125.1.
31 However, such contributions need not be made by any
32 participant who has elected prior to September 15, 1969, not
33 to be subject to the automatic increase in annuity
34 provisions.
-3- LRB9206538LDcs
1 (c) Effective July 13, 1953, each married participant
2 subject to the survivor's annuity provisions is required to
3 contribute 2 1/2% of each payment of salary, whether or not
4 he or she is required to make any other contributions under
5 this Section. Such contributions shall be made concurrently
6 with the contributions made for annuity purposes.
7 (Source: P.A. 91-653, eff. 12-10-99.)
8 Section 99. Effective date. This Act takes effect upon
9 becoming law.