State of Illinois
92nd General Assembly
Legislation

   [ Search ]   [ PDF text ]   [ Legislation ]   
[ Home ]   [ Back ]   [ Bottom ]


[ Introduced ][ House Amendment 001 ]


92_HB2703eng

HB2703 Engrossed                               LRB9204333EGmg

 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 Sections 2-123 and 14-105.1 as follows:

 6        (40 ILCS 5/2-123) (from Ch. 108 1/2, par. 2-123)
 7        Sec. 2-123.  Refunds.
 8        (a)  A  participant who ceases to be a member, other than
 9    an annuitant, shall, upon written request, receive  a  refund
10    of  his  or  her  total contributions, without interest.  The
11    refund shall include the  additional  contributions  for  the
12    automatic  increase  in retirement annuity.  By accepting the
13    refund,  a  participant  forfeits  all  accrued  rights   and
14    benefits  in  the  System  and  loses credit for all service.
15    However, if he or she again becomes a member, he or  she  may
16    resume  status as a participant and reestablish any forfeited
17    service credit by  paying  to  the  System  the  full  amount
18    refunded,  together  with  interest  at 4% per annum from the
19    time the refund is paid to the date the member again  becomes
20    a participant.
21        A  former  member of the General Assembly may reestablish
22    any service credit forfeited by acceptance  of  a  refund  by
23    paying  to the System on or before February 1, 1993, the full
24    amount refunded, together with interest at 4% per annum  from
25    the date of payment of the refund to the date of repayment.
26        When  a member or former member owes money to the System,
27    interest at the rate of 4% per  annum  shall  accrue  and  be
28    payable  on  such  amounts  owed  beginning  on  the  date of
29    termination of service as a member  until  the  contributions
30    due have been paid in full.
31        (b)  A  participant  who  (1) has elected to cease making
 
HB2703 Engrossed            -2-                LRB9204333EGmg
 1    contributions for survivor's annuity under subsection (b)  of
 2    Section   2-126,  (2)  has  no  eligible  survivor's  annuity
 3    beneficiary upon becoming an  annuitant,  or  (3)  terminates
 4    service  with  less  than 8 years of service is entitled to a
 5    refund of the contributions for a survivor's annuity, without
 6    interest.  If the person later marries, a survivor's  annuity
 7    shall not be payable upon his or her death, unless the amount
 8    of the refund is repaid to the System, together with interest
 9    at  the  rate  of  4% per year from the date of refund to the
10    date of repayment.
11        (c)  If  at  the  date  of  retirement  or  death  of   a
12    participant who served as an officer of the General Assembly,
13    the  total  period  of such service is less than 4 years, the
14    additional  contributions  made  by  such   member   on   the
15    additional  salary as an officer shall be refunded unless the
16    participant served as an officer for at least 2 years and has
17    contributed the amount he or she would have contributed if he
18    or she had served as an officer for 4 years  as  provided  in
19    Section 2-126.
20        (d)  Upon  the termination of the last survivor's annuity
21    payable to a survivor of a deceased participant, the  excess,
22    if  any,  of  the total contributions made by the participant
23    for retirement and survivor's annuity, without interest, over
24    the  total  amount  of  retirement  and  survivor's   annuity
25    payments  received  by  the participant and the participant's
26    survivors shall be refunded upon request:
27             (i)  if there was a surviving spouse of the deceased
28        participant who was eligible for a survivor's annuity, to
29        the designated beneficiary of  that  spouse  or,  if  the
30        designated   beneficiary  is  deceased  or  there  is  no
31        designated beneficiary, to that spouse's estate;
32             (ii)  if there was no eligible surviving  spouse  of
33        the  deceased  participant, to the designated beneficiary
34        of  the  deceased  participant  or,  if  the   designated
 
HB2703 Engrossed            -3-                LRB9204333EGmg
 1        beneficiary   is  deceased  or  there  is  no  designated
 2        beneficiary, to the deceased participant's estate.
 3        (e)  Upon the death of a  participant,  if  a  survivor's
 4    annuity  is  not  payable  under  this Article, a beneficiary
 5    designated by the participant shall be entitled to  a  refund
 6    of  all  contributions  made  by  the  participant.    If the
 7    participant has not  designated  a  refund  beneficiary,  the
 8    surviving   spouse   shall  be  entitled  to  the  refund  of
 9    contributions;  if  there  is  no   surviving   spouse,   the
10    contributions   shall   be   refunded  to  the  participant's
11    surviving children, if any, and if no children  survive,  the
12    refund payment shall be made to the participant's estate.
13    (Source: P.A. 90-448, eff. 8-16-97; 90-766, eff. 8-14-98.)

14        (40 ILCS 5/14-105.1) (from Ch. 108 1/2, par. 14-105.1)
15        Sec. 14-105.1. General Assembly.
16        (a) Any  active  (and until February 1, 1993, any former)
17    member of the General Assembly Retirement  System  may  apply
18    for  transfer  of  his  or her credits and creditable service
19    accumulated under this System to the General Assembly  System
20    or  a  Fund  established  under Article 5 or 12 of this Code.
21    Such credits and  creditable  service  shall  be  transferred
22    forthwith.   Payment  by  this System to the General Assembly
23    Retirement System or the Fund established under Article 5  or
24    12 shall be made at the same time and shall consist of:
25             (1)  the  amounts  accumulated  to the credit of the
26        applicant, including regular interest, on  the  books  of
27        the System on the date of transfer; and
28             (2)  employer  contributions  in  an amount equal to
29        the amount of member contributions  as  determined  under
30        subparagraph (1).
31    Participation  in  this  System as to any credits transferred
32    under this subsection Section shall terminate on the date  of
33    transfer.
 
HB2703 Engrossed            -4-                LRB9204333EGmg
 1        (a-5) Any active or former member of the General Assembly
 2    Retirement  System  may  apply  for  transfer  of  all or any
 3    portion  of  his  or  her  credits  and  creditable   service
 4    accumulated   under  this  System  to  the  General  Assembly
 5    Retirement System.  Such credits and creditable service shall
 6    be transferred forthwith.  Payment  by  this  System  to  the
 7    General  Assembly Retirement System shall be made at the same
 8    time and shall consist of:
 9             (1)  the amounts accumulated to the  credit  of  the
10        applicant,  including  regular  interest, on the books of
11        the System on the date of transfer; and
12             (2)  employer contributions in an  amount  equal  to
13        the  amount  of  member contributions as determined under
14        subparagraph (1).
15    Participation in this System as to  any  credits  transferred
16    under   this  subsection  shall  terminate  on  the  date  of
17    transfer.
18        (b)  An active (and until February  1,  1993,  a  former)
19    member  of  the  General Assembly who has service credits and
20    creditable service under the System may establish  additional
21    service  credits  and  creditable  service for periods during
22    which he was an elected official and could  have  elected  to
23    participate  but  did  not  so  elect.   Service  credits and
24    creditable service may  be  established  by  payment  to  the
25    System  of an amount equal to the contributions he would have
26    made if he had elected to participate, plus regular  interest
27    to the date of payment.
28        (c)  An  active  or former (and until February 1, 1993, a
29    former) member of the General Assembly Retirement System  may
30    reinstate service and service credits terminated upon receipt
31    of  a  separation  benefit,  by  payment to the System of the
32    amount  of  the  separation  benefit  plus  regular  interest
33    thereon to the date of payment.
34    (Source: P.A. 86-27; 86-273; 86-1028; 86-1488; 87-794.)
 
HB2703 Engrossed            -5-                LRB9204333EGmg
 1        Section 99. Effective date.  This Act takes  effect  upon
 2    becoming law.

[ Top ]