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Public Act 101-0011 | ||||
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AN ACT concerning public employee benefits.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Illinois Pension Code is amended by adding | ||||
Section 9-179.4 as follows: | ||||
(40 ILCS 5/9-179.4 new) | ||||
Sec. 9-179.4. Service for periods of furlough or salary | ||||
reduction. | ||||
(a) An active participant may establish service credit and | ||||
earnings credit for periods of furlough beginning on or after | ||||
December 1, 2017 and ending on or before November 30, 2018. To | ||||
receive this credit, the participant must (i) apply in writing | ||||
to the Fund before December 31, 2019; (ii) not receive | ||||
compensation or any type of remuneration from the county for | ||||
any furlough period; (iii) make, on an after-tax basis, | ||||
employee contributions required under this Article based on his | ||||
or her salary during the periods of furlough, plus an amount | ||||
determined by the Board to be equal to the employer's normal | ||||
cost of the benefit, plus compounded interest at the | ||||
actuarially assumed rate from the date of furlough to the date | ||||
of payment; and (iv) pay the employee contributions required by | ||||
this Section while he or she is an active participant and | ||||
within 12 months after the date of application. The participant |
shall provide, at the time of application, written | ||
certification from the county stating (1) the total number of | ||
furlough days the participant has been required to take and (2) | ||
that the participant has not received compensation or any type | ||
of remuneration from the county for such furlough days. | ||
(b) An active participant may establish earnings credit for | ||
periods of salary reduction beginning on or after December 1, | ||
2017 and ending on or before November 30, 2018. To receive this | ||
credit, the participant must: (i) apply in writing to the Fund | ||
before December 31, 2019; (ii) not receive compensation or any | ||
type of remuneration from the county for any reduction in | ||
salary; (iii) make, on an after-tax basis, employee | ||
contributions required under this Article based on the | ||
reduction in salary, plus an amount determined by the Board to | ||
be equal to the employer's normal cost of the benefit, plus | ||
compounded interest at the actuarially assumed rate from the | ||
date of reduction in salary to the date of payment; and (iv) | ||
pay the employee contributions required by this Section while | ||
he or she is an active participant and within 12 months after | ||
the date of application. The participant shall provide, at the | ||
time of application, written certification from the county | ||
stating (1) the total reduction in salary for each pay period | ||
with a reduction in salary and (2) that the participant has not | ||
received compensation or any type of remuneration from the | ||
county for such reduction in salary. | ||
(c) For the purposes of this Section, the employer's normal |
cost shall be determined by the Fund's actuarial valuation for | ||
the year ending December 31, 2018. Any payments received under | ||
this Section shall be considered contributions made by the | ||
employee for the purposes of Sections 9-169 and 10-107 of this | ||
Code. | ||
Section 90. The State Mandates Act is amended by adding | ||
Section 8.43 as follows: | ||
(30 ILCS 805/8.43 new) | ||
Sec. 8.43. Exempt mandate. Notwithstanding Sections 6 and 8 | ||
of this Act, no reimbursement by the State is required for the | ||
implementation of any mandate created by this amendatory Act of | ||
the 101st General Assembly.
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Section 99. Effective date. This Act takes effect upon | ||
becoming law. |