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92_SB0499
LRB9207499EGfg
1 AN ACT to amend the Illinois Pension Code.
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 18-122 as follows:
6 (40 ILCS 5/18-122) (from Ch. 108 1/2, par. 18-122)
7 Sec. 18-122. Participation; military service.
8 Participation shall continue until the date a participant
9 becomes an annuitant, dies, or accepts a refund.
10 Participation shall not cease during any period an
11 eligible judge is serving with the military or naval forces
12 of the United States while the United States is engaged in
13 any war or for one year after such war, if the judge makes
14 contributions, together with any interest payments which
15 might be required, for delayed contribution payments.
16 A participant may also apply for creditable service for
17 up to 2 years of military service that need not have followed
18 service as a judge and need not have been served during
19 wartime. However, for this military service not immediately
20 following employment as a judge, the applicant must make
21 contributions to the System (1) at the rates provided in
22 Section 18-133 based upon the judge's rate of compensation on
23 the last date as a participating judge prior to such military
24 service, or on the first date as a participating judge after
25 such military service, whichever is greater, plus (2) if
26 payment is made on or after May 1, 2002 1993, an amount
27 determined by the Board to be equal to the employer's normal
28 cost of the benefits accrued for such military service, plus
29 (3) interest at the effective rate from the date of first
30 membership in the System to the date of payment.
31 The amendment to this Section made by this amendatory Act
-2- LRB9207499EGfg
1 of 1993 shall apply to persons who are active contributors to
2 the System on or after November 30, 1992. A person who was
3 an active contributor to the System on November 30, 1992 but
4 is no longer an active contributor may apply to purchase
5 military credit not immediately following employment as a
6 judge within 60 days after the effective date of this
7 amendatory Act of 1993; if the person is an annuitant, the
8 resulting increase in annuity shall begin to accrue on the
9 first day of the month following the month in which the
10 required payment is received by the System. The change in
11 the required contribution for purchased military credit made
12 by this amendatory Act of 1993 shall not entitle any person
13 to a refund of contributions already paid. The change in the
14 required contribution for purchased military credit made by
15 this amendatory Act of the 92nd General Assembly does not
16 entitle any person to a refund of contributions already paid.
17 (Source: P.A. 87-794; 87-1265; 88-45.)
18 Section 99. Effective date. This Act takes effect upon
19 becoming law.