Public Act 095-0504
Public Act 0504 95TH GENERAL ASSEMBLY
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Public Act 095-0504
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| SB1380 Enrolled |
LRB095 10799 AMC 31047 b |
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| AN ACT concerning public employee benefits.
| Be it enacted by the People of the State of Illinois,
| represented in the General Assembly:
| Section 5. The Illinois Pension Code is amended by adding | Sections 3-110.9, 8-226.7, and 9-121.17 and by changing | Sections 5-146, 5-147, 5-152, and 7-139 as follows:
| (40 ILCS 5/3-110.9 new) | Sec. 3-110.9. Transfer to Article 9.
| (a) Until 6 months after the effective date of this | amendatory Act of the 95th General Assembly, any active member | of a pension fund established under Article 9 of this Code may | apply for transfer of up to 6 years of his or her creditable | service accumulated in any police pension fund under this | Article to the Article 9 fund. Such creditable service shall be | transferred only upon payment by such police pension fund to | the Article 9 fund of an amount equal to: | (1) the amounts accumulated to the credit of the
| applicant on the books of the fund on the date of transfer; | and | (2) employer contributions in an amount equal to the
| amount determined under subparagraph (1); and | (3) any interest paid by the applicant in order to
| reinstate service. |
| Participation in the police pension fund shall terminate on | the date of transfer. | (b) Until 6 months after the effective date of this | amendatory Act of the 95th General Assembly, any active member | of an Article 9 fund may reinstate service that was terminated | by receipt of a refund, by payment to the police pension fund | of the amount of the refund with interest thereon at the rate | of 6% per year, compounded annually, from the date of refund to | the date of payment.
| (40 ILCS 5/5-146) (from Ch. 108 1/2, par. 5-146)
| Sec. 5-146. Wives and widows not entitled to annuities. The | following wives or widows have no right to annuity from the | fund:
| (a) A wife or widow, married subsequent to the effective | date, of a
policeman who dies in service, if the marriage | occurred less than one year
prior to the policeman's death, | except with respect to a policeman who dies in the performance | of an act of duty, as
provided in Section 5-147 in cases where | a widow
entitled to an annuity remarries after age 60, or when | a widow entitled
to an annuity remarries prior to attaining age | 60 and the marriage is
terminated, at any time thereafter, by | dissolution of marriage, declaration
of invalidity of marriage | or the death of the husband; if after an evidentiary hearing, | however, the Board, at its sole discretion determines that | special circumstances exist warranting payment of a widow's |
| annuity, then and only then shall the Board have authority to | grant and award the annuity that would have been otherwise | available;
| (b) A wife or widow of a policeman who withdraws, whether | or not he
enters upon annuity, and dies out of service, if the | marriage occurred
after the effective date and less than one | year prior to the policeman's
death, and the widow was not his | wife while he was in
service; if after an evidentiary hearing, | however, the Board, at its sole discretion determines that | special circumstances exist warranting payment of a widow's | annuity, then and only then shall the Board have authority to | grant and award the annuity that would have been otherwise | available;
| (c) A wife or widow of a policeman who (1) has served 10 or | more
years, (2) dies out of service after he has withdrawn, and | (3) has
received a refund of the sums to his credit for | annuity, and such refund
has not been repaid in accordance with | the other provisions of this Article;
| (d) A wife or widow of a policeman who dies out of service | after he
has withdrawn, and who has not served at least 10 | years;
| (e) A former wife of a policeman who has had a judgment of | dissolution
of marriage from her policeman husband annulled, | vacated or set aside by
court proceedings subsequent to the | policeman's death, unless (1) the
proceedings were filed within | 5 years after the date of dissolution of
marriage, and within 1 |
| year after the policeman's death, and (2) the board
was made a | party to the proceedings;
| (f) A widow of a policeman who died prior to January 1, | 1922, if she
had been denied a pension by the board of trustees | of any police pension
fund existing in the city by operation of | any other law;
| (g) A widow of a policeman who has been denied a pension or | annuity
by the board created by this Article and who files a | petition for a
rehearing, or files a second application for | annuity, unless the
petition for rehearing or second | application is filed within 1 year from
the date upon which the | annuity was denied by the board; provided, that
in the case of | legal disability, the year of limitation
shall begin on the day | after the termination of such disability.
| (Source: P.A. 86-272.)
| (40 ILCS 5/5-147) (from Ch. 108 1/2, par. 5-147)
| Sec. 5-147. Widow's marriage to terminate annuity. | (a) Beginning on the effective date of this amendatory Act | of the
95th General Assembly, a widow's annuity shall no longer | be subject to
termination or suspension under this Section due | to remarriage. Any widow's
annuity that was previously | terminated or suspended under this Section by
reason of | remarriage shall, upon application, be resumed as of the date | of the
application, but in no event sooner than the effective | date of this amendatory
Act. The resumption shall not be |
| retroactive. This subsection (a) applies
regardless of whether | or not the deceased policeman was in service on or after
the | effective date of this amendatory Act of the 95th General | Assembly.
| (b) This subsection (b) does not apply on or after the | effective date of
this amendatory Act of the 95th General | Assembly.
| Any annuity
granted to a widow shall be suspended when she | remarries, unless she
remarries after attaining age 60 or the | annuity was granted under Section
5-144 and the remarriage | takes place after October 31, 1989.
Except as otherwise | provided by this Section, if a widow remarries before reaching
| age 60, annuity payment shall be suspended, but the widow's | annuity
payments shall be resumed if the subsequent marriage | ends either by dissolution of
marriage, declaration of | invalidity of marriage or the death of the
husband. If a widow | remarries after attaining age 60, or the annuity was
granted | under Section 5-144 and the remarriage takes place after June | 1,
1990, regardless of whether or not the deceased policeman | was in service on
or after the effective date of this | amendatory Act of 1991, the widow's
annuity shall continue | without interruption.
| If when a widow dies she
has not received, in form of | annuity, an amount equal to the accumulated
employee | contributions for widow's annuity,
the difference between such | accumulated contributions and the sum
received by her, along |
| with any part of the accumulated contributions
for age and | service annuity remaining in the fund at her death shall be
| refunded to the policemen's children, in equal parts to each; | provided,
if any child is less than age 18, such part of any | such amount required
to pay annuities to such children shall be | transferred to the child's
annuity reserve. If no children or | descendants thereof survive the
policeman, such refund shall be | paid to the estate of the policeman. In
making refunds under | this Section, no interest shall be considered upon
either the | total of annuity payments made or the amounts subject to
| refund.
| (Source: P.A. 86-1488.)
| (40 ILCS 5/5-152) (from Ch. 108 1/2, par. 5-152)
| Sec. 5-152. Child's annuity - Conditions - Amount. A | child's
annuity shall be payable in the following cases of | policemen who die
on or after the effective date: (a) A | policeman whose death results
from injury incurred in the | performance of an act or acts of duty;
(b) a policeman who dies | in service from any cause; (c) a policeman
who withdraws upon | or after attainment of age 50 and who enters upon
or is | eligible for annuity; (d) a present employee with at least 20
| years of service who dies after withdrawal, whether or not he | has
entered upon annuity.
| A child to be eligible must have been born or legally | adopted
before the policeman has withdrawn from service. In the |
| case of an adopted
child, the policeman shall be married and | living with his wife at the
time of the adoption, and the | proceedings for adoption must have been
initiated at least 6 | months prior to the policeman's death. The requirement
that the | proceedings for adoption be initiated at least 6 months prior | to
the policeman's death does not apply where death occurs as a | result of
an act of duty.
| Only one annuity shall be granted and paid for the benefit | of
any child if both parents have been policemen.
| The annuity shall be paid, without regard to the fact that
| the death of the deceased policeman parent may have occurred | prior to
the effective date of this amendatory Act of 1975, in
| an amount equal to 10% of the
annual maximum salary attached to | the classified civil
service position of a first class | patrolman
on July 1, 1975, or the date of the policeman's | death, whichever is later,
for each child while a widow or | widower of the
deceased policeman survives and in
an amount | equal to 15% of the annual maximum
salary attached to the | classified civil service position of a first
class patrolman on | July 1, 1975, or the date of the policeman's death, whichever
| is later, while no widow
or widower shall survive,
provided | that if the combined annuities for the widow
and children of a | policeman who dies on or after September 26, 1969,
as the | result of an act of duty, or for the children of such
policeman | in any case wherein a widow or widower does not exist,
exceed | the salary that would ordinarily have been paid to him if
he |
| had been in the active discharge of his duties, all such | annuities shall be
reduced pro rata so that the combined | annuities for the family shall
not exceed such limitation. The | compensation portion of the annuity
of the widow shall not be | considered in making such reduction.
No age limitation in this | Section or Section 5-151 shall apply to a child who is so | physically or mentally handicapped as to be unable to support | himself or herself. Benefits payable under this Section shall | not be reduced or
terminated by reason of any child's | attainment of age 18 if he is then
dependent by reason of a | physical or mental disability but shall continue
to be paid as | long as such dependency continues. For the purposes of this
| subsection, "disability" means inability to engage in any | substantial
gainful activity by reason of any medically | determinable physical or
mental impairment which can be | expected to result in death or which has
lasted or can be | expected to last for a continuous period of not less
than 12 | months.
| In the case of a family of a policeman who dies on or after
| September 26, 1969, as the result of any cause other than the | performance
of an act of duty, in which annuities for such | family exceed an amount
equal to 60% of the salary that would | ordinarily have been paid to
him if he had been in the active | discharge of his duties, all such
annuities shall be reduced | pro rata so that the combined annuities shall
not exceed such | limitation.
|
| Child's annuity shall be paid to the parent providing for
| the child, unless another person is appointed by a court of law | as
the child's guardian.
| (Source: P.A. 79-699; 79-881; 79-1454.)
| (40 ILCS 5/7-139) (from Ch. 108 1/2, par. 7-139)
| Sec. 7-139. Credits and creditable service to employees.
| (a) Each participating employee shall be granted credits | and creditable
service, for purposes of determining the amount | of any annuity or benefit
to which he or a beneficiary is | entitled, as follows:
| 1. For prior service: Each participating employee who | is an employee
of a participating municipality or | participating instrumentality on the
effective date shall | be granted creditable service, but no credits under
| paragraph 2 of this subsection (a), for periods of prior | service for which
credit has not been received under any | other pension fund or retirement system
established under | this Code, as follows:
| If the effective date of participation for the | participating municipality
or participating | instrumentality is on or before January 1, 1998, creditable
| service shall be granted for the entire period of prior | service with that
employer without any employee | contribution.
| If the effective date of participation for the |
| participating municipality
or participating | instrumentality is after January 1, 1998, creditable
| service shall be granted for the last 20% of the period of | prior service with
that employer, but no more than 5 years, | without any employee contribution. A
participating | employee may establish creditable service for the | remainder of
the period of prior service with that employer | by making an application in
writing, accompanied by payment | of an employee contribution in an
amount determined by the | Fund, based on the employee contribution rates in
effect at | the time of application for the creditable service and the | employee's
salary rate on the effective date of | participation for that employer, plus
interest at the | effective rate from the date of the prior service to the | date
of payment. Application for this creditable service | may be made at any time
while the employee is still in | service.
| A municipality that (i) has at least 35 employees; (ii) | is located in a county with at least 2,000,000 inhabitants; | and (iii) maintains an independent defined benefit pension | plan for the benefit of its eligible employees may restrict | creditable service in whole or in part for periods of prior | service with the employer if the governing body of the | municipality adopts an irrevocable resolution to restrict | that creditable service and files the resolution with the | board before the municipality's effective date of |
| participation.
| Any person who has withdrawn from the service of a | participating
municipality
or participating | instrumentality prior to the effective date, who reenters
| the service of the same municipality or participating | instrumentality after
the effective date and becomes a | participating employee is entitled to
creditable service | for prior service as otherwise provided in this
subdivision | (a)(1) only if he or she renders 2 years of service as a
| participating employee after the effective date. | Application
for such service must be made while in a | participating status.
The salary rate to be used in the | calculation of the required employee
contribution, if any, | shall be the employee's salary rate at the time of first
| reentering service with the employer after the employer's | effective date of
participation.
| 2. For current service, each participating employee | shall be
credited with:
| a. Additional credits of amounts equal to each | payment of additional
contributions received from him | under Section 7-173, as of the
date the corresponding | payment of earnings is payable to him.
| b. Normal credits of amounts equal to each payment | of normal
contributions received from him, as of the | date the corresponding payment of
earnings is payable | to him, and normal contributions made for the purpose |
| of
establishing out-of-state service credits as | permitted under the conditions set
forth in paragraph 6 | of this subsection (a).
| c. Municipality credits in an amount equal to 1.4 | times the normal
credits, except those established by | out-of-state service credits, as of
the date of | computation of any benefit if these credits would | increase
the benefit.
| d. Survivor credits equal to each payment of | survivor contributions
received from the participating | employee as of the date the
corresponding payment of | earnings is payable, and survivor contributions made
| for the purpose of establishing out-of-state service | credits.
| 3. For periods of temporary and total and permanent | disability
benefits, each employee receiving disability | benefits shall be granted
creditable service for the period | during which disability benefits are
payable. Normal and | survivor credits, based upon the rate of earnings
applied | for disability benefits, shall also be granted if such | credits
would result in a higher benefit to any such | employee or his
beneficiary.
| 4. For authorized leave of absence without pay: A | participating
employee shall be granted credits and | creditable service for periods of
authorized leave of | absence without pay under the following
conditions:
|
| a. An application for credits and creditable | service is submitted to the
board while the employee is | in a status of
active employment, and within 2 years | after termination of the
leave of absence period for | which credits and creditable service are
sought.
| b. Not more than 12 complete months of creditable | service
for authorized leave of absence without pay | shall be counted for purposes of
determining any | benefits payable under this Article.
| c. Credits and creditable service shall be granted | for leave of
absence only if such leave is approved by | the governing body of the
municipality, including | approval of the estimated cost thereof to the
| municipality as determined by the fund, and employee | contributions, plus
interest at the effective rate | applicable for each year from the end of
the period of | leave to date of payment, have been paid to the fund in
| accordance with Section 7-173. The contributions shall | be computed upon the
assumption earnings continued | during the period of leave at the rate in
effect when | the leave began.
| d. Benefits under the provisions of Sections | 7-141, 7-146, 7-150
and 7-163 shall become payable to | employees on authorized leave of
absence, or their | designated beneficiary, only if such leave of absence
| is creditable hereunder, and if the employee has at |
| least one year of
creditable service other than the | service granted for leave of absence.
Any employee | contributions due may be deducted from any benefits
| payable.
| e. No credits or creditable service shall be | allowed for leave of
absence without pay during any | period of prior service.
| 5. For military service: The governing body of a | municipality or
participating instrumentality may elect to | allow creditable service to
participating employees who | leave their employment to serve in the armed
forces of the | United States for all periods of such service, provided
| that the person returns to active employment within 90 days | after
completion
of full time active duty, but no | creditable service shall be allowed such
person for any | period that can be used in the computation of a pension
or | any other pay or benefit, other than pay for active duty, | for service
in any branch of the armed forces of the United | States. If necessary to
the computation of any benefit, the | board shall establish municipality
credits for | participating employees under this paragraph on the
| assumption that the employee received earnings at the rate | received at
the time he left the employment to enter the | armed forces. A
participating employee in the armed forces | shall not be considered an
employee during such period of | service and no additional death and no
disability benefits |
| are payable for death or disability during such period.
| Any participating employee who left his employment | with a
municipality or participating instrumentality to | serve in the armed
forces of the United States and who | again became a participating
employee within 90 days after | completion of full time active duty by
entering the service | of a different municipality or participating
| instrumentality, which has elected to allow creditable | service for
periods of military service under the preceding | paragraph, shall also be
allowed creditable service for his | period of military service on the
same terms that would | apply if he had been employed, before entering
military | service, by the municipality or instrumentality which | employed
him after he left the military service and the | employer costs arising in
relation to such grant of | creditable service shall be charged to and
paid by that | municipality or instrumentality.
| Notwithstanding the foregoing, any participating | employee
shall be entitled to creditable service as | required by any federal law
relating to re-employment | rights of persons who served in the United States
Armed | Services. Such creditable service shall be granted upon | payment by
the member of an amount equal to the employee | contributions which would
have been required had the | employee continued in service at the same
rate of earnings | during the military leave period, plus interest at
the |
| effective rate.
| 5.1. In addition to any creditable service established | under
paragraph 5 of this subsection (a), creditable | service may be granted for
up to 24 months of service in | the armed forces of the United States.
| In order to receive creditable service for military | service under this
paragraph 5.1, a participating employee | must (1) apply to the Fund
in writing and provide evidence | of the military service that is satisfactory
to the Board; | (2) obtain the written approval of the current employer; | and (3)
make contributions to the Fund equal to (i)
the | employee contributions that would have been required had | the service been
rendered as a member, plus (ii) an amount | determined by the board to be equal
to the employer's | normal cost of the benefits accrued for that military
| service, plus (iii) interest on items (i) and (ii) from the | date of first
membership in the Fund to the date of | payment. If payment is made during
the 6-month period that | begins 3 months after the effective date of this
amendatory | Act of 1997, the required interest shall be at the rate of | 2.5%
per year, compounded annually; otherwise, the | required interest shall be
calculated at the regular | interest rate.
| 6. For out-of-state service: Creditable service shall | be granted for
service rendered to an out-of-state local | governmental body under the
following conditions: The |
| employee had participated and has irrevocably
forfeited | all rights to benefits in the out-of-state public employees
| pension system; the governing body of his participating | municipality or
instrumentality authorizes the employee to | establish such service; the
employee has 2 years current | service with this municipality or
participating | instrumentality; the employee makes a payment of
| contributions, which shall be computed at 8% (normal) plus | 2% (survivor)
times length of service purchased times the | average rate of earnings for the
first 2
years of service | with the municipality or participating
instrumentality | whose governing body authorizes the service established
| plus interest at the effective rate on the date such | credits are
established, payable from the date the employee | completes the required 2
years of current service to date | of payment. In no case shall more than
120 months of | creditable service be granted under this provision.
| 7. For retroactive service: Any employee who could have | but did not
elect to become a participating employee, or | who should have been a
participant in the Municipal Public | Utilities Annuity and Benefit Fund
before that fund was | superseded, may receive creditable service for the
period | of service not to exceed 50 months; however, a current or | former
elected or appointed official of a participating | municipality may establish credit under this paragraph 7 | for more than 50
months of service as an official of that |
| municipality, if the excess over 50 months is approved by | resolution of the
governing body of the affected | municipality filed with
the Fund before January 1, 2002.
| Any employee who is a
participating employee on or | after September 24, 1981 and who was
excluded from | participation by the age restrictions removed by Public Act
| 82-596 may receive creditable service for the period, on or | after January
1, 1979, excluded by the age restriction and, | in addition, if the governing
body of the participating | municipality or participating instrumentality elects
to | allow creditable service for all employees excluded by the | age restriction
prior to January 1, 1979, for service | during the period prior to that date
excluded by the age | restriction. Any employee who was excluded from
| participation by the age restriction removed by Public Act | 82-596 and who is
not a participating employee on or after | September 24, 1981 may receive
creditable service for | service after January 1,
1979. Creditable service under | this paragraph
shall be granted upon payment of the | employee contributions
which would have been required had | he participated, with interest at the
effective rate for | each year from the end of the period of service
established | to date of payment.
| 8. For accumulated unused sick leave: A participating | employee who is
applying for a retirement annuity shall be | entitled to creditable service
for that portion of the |
| employee's accumulated unused sick leave
for which payment | is not received, as follows:
| a. Sick leave days shall be limited to those | accumulated under a sick
leave plan established by a | participating municipality or participating
| instrumentality which is available to all employees or | a class of employees.
| b. Only sick leave days accumulated with a | participating municipality or
participating | instrumentality with which the employee was in service | within
60 days of the effective date of his retirement | annuity shall be credited;
If the employee was in | service with more than one employer during this
period | only the sick leave days with the employer with which | the employee
has the greatest number of unpaid sick | leave days shall be considered.
| c. The creditable service granted shall be | considered solely for the
purpose of computing the | amount of the retirement annuity and shall not be
used | to establish any minimum service period required by any | provision of the
Illinois Pension Code, the effective | date of the retirement annuity, or the
final rate of | earnings.
| d. The creditable service shall be at the rate of | 1/20 of a month for
each full sick day, provided that | no more than 12 months may be credited
under this |
| subdivision 8.
| e. Employee contributions shall not be required | for creditable service
under this subdivision 8.
| f. Each participating municipality and | participating instrumentality
with which an employee | has service within 60 days of the effective date of
his | retirement annuity shall certify to the board the | number of accumulated
unpaid sick leave days credited | to the employee at the time of termination
of service.
| 9. For service transferred from another system: | Credits and
creditable service shall be granted for service | under Article 3, 4, 5, 8, 14,
or 16 of this Act, to any | active member of this Fund, and to any
inactive member who | has been a county sheriff, upon
transfer of such credits | pursuant to Section 3-110.3, 4-108.3, 5-235,
8-226.7,
| 14-105.6, or 16-131.4, and payment by the member of the | amount by
which (1) the employer and employee contributions | that would have been required
if he had participated in | this Fund as a sheriff's law enforcement employee
during | the period for which credit is
being transferred, plus | interest thereon at the effective rate for each
year, | compounded annually, from the date of termination of the | service for
which credit is being transferred to the date | of payment, exceeds (2) the
amount actually transferred to | the Fund.
Such transferred service shall be deemed to be | service as a sheriff's law
enforcement employee for the |
| purposes of Section 7-142.1.
| 10. For service transferred from an Article 3 system | under Section 3-110.8: Credits and
creditable service | shall be granted for service under Article 3 of this Act as | provided in Section 3-110.8, to any active member of this | Fund upon
transfer of such credits pursuant to Section | 3-110.8. If the amount by
which (1) the employer and | employee contributions that would have been required
if he | had participated in this Fund during the period for which | credit is
being transferred, plus interest thereon at the | effective rate for each
year, compounded annually, from the | date of termination of the service for
which credit is | being transferred to the date of payment, exceeds (2) the
| amount actually transferred to the Fund, then the amount of | creditable service established under this paragraph 10 | shall be reduced by a corresponding amount in accordance | with the rules and procedures established under this | paragraph 10.
| The board shall establish by rule the manner of making | the calculation required under
this paragraph 10, taking | into account the appropriate actuarial
assumptions; the | member's service, age, and salary history; the level
of | funding of the employer; and
any other factors that the | board determines to be relevant.
| (b) Creditable service - amount:
| 1. One month of creditable service
shall be allowed for |
| each month for which a participating employee made
| contributions as required under Section 7-173, or for which | creditable
service is otherwise granted hereunder. Not | more than 1 month of
service shall be credited and counted | for 1 calendar month, and not more
than 1 year of service | shall be credited and counted for any calendar
year. A | calendar month means a nominal month beginning on the first | day
thereof, and a calendar year means a year beginning | January 1 and ending
December 31.
| 2. A seasonal employee shall be given 12 months of | creditable
service if he renders the number of months of | service normally required
by the position in a 12-month | period and he remains in service for the
entire 12-month | period. Otherwise a fractional year of service in the
| number of months of service rendered shall be credited.
| 3. An intermittent employee shall be given creditable | service for
only those months in which a contribution is | made under Section 7-173.
| (c) No application for correction of credits or creditable | service shall
be considered unless the board receives an | application for correction while
(1) the applicant is a | participating employee and in active employment
with a | participating municipality or instrumentality, or (2) while | the
applicant is actively participating in a pension fund or | retirement
system which is a participating system under the | Retirement Systems
Reciprocal Act. A participating employee or |
| other applicant shall not be
entitled to credits or creditable | service unless the required employee
contributions are made in | a lump sum or in installments made in accordance
with board | rule.
| (d) Upon the granting of a retirement, surviving spouse or | child
annuity, a death benefit or a separation benefit, on | account of any
employee, all individual accumulated credits | shall thereupon terminate.
Upon the withdrawal of additional | contributions, the credits applicable
thereto shall thereupon | terminate. Terminated credits shall not be applied
to increase | the benefits any remaining employee would otherwise receive | under
this Article.
| (Source: P.A. 93-933, eff. 8-13-04; 94-356, eff. 7-29-05.)
| (40 ILCS 5/8-226.7 new) | Sec. 8-226.7. Transfer to Article 7. Until 6 months after | the effective date of this amendatory Act of the 95th General | Assembly, any member who is a sheriff's law enforcement | employee under Article 7 of this Code who is eligible to | transfer service credit to that Fund from this Fund under | paragraph (9) of subsection (a) of Section 7-139 may apply for | transfer of that service credit to the Illinois Municipal | Retirement Fund. The credits and creditable service shall be | transferred upon application, and shall include payment by this | Fund to the Illinois Municipal Retirement Fund of: | (1) the amounts accumulated to the credit of the |
| applicant for that service, including interest, on the | books of the Fund on the date of transfer; and | (2) the corresponding employer credits computed and | credited for that service under this Article, including | interest, on the books of the Fund on the date of transfer. | Participation in this Fund as to the credits transferred | under this Section shall terminate on the date of transfer.
| (40 ILCS 5/9-121.17 new) | Sec. 9-121.17. Transfer from Article 3. Until 6 months | after the effective date, an employee may transfer to this Fund | up to 6 years of creditable service accumulated under Article 3 | of this Code, upon payment to this Fund of (1) the amount by | which the employee and employer contributions that would have | been required if the employee had participated in this Fund | during the period for which credit is being transferred, plus | interest, exceeds the amount actually transferred from the | Article 3 fund to this Fund, plus (2) interest on the amount | determined under item (1) at the rate of 6% per year, | compounded annually, from the date of the transfer to the date | of payment.
| Section 90. The State Mandates Act is amended by adding | Section 8.31 as follows:
| (30 ILCS 805/8.31 new) |
| Sec. 8.31. 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 95th General Assembly.
| Section 99. Effective date. This Act takes effect upon | becoming law.
|
Effective Date: 8/28/2007
|
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