State of Illinois
92nd General Assembly
Legislation

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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.

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