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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.
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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 |
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:
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(40 ILCS 5/3-110.9 new) |
Sec. 3-110.9. Transfer to Article 9.
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(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
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applicant on the books of the fund on the date of transfer; |
and |
(2) employer contributions in an amount equal to the
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amount determined under subparagraph (1); and |
(3) any interest paid by the applicant in order to
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reinstate service. |
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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.
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(40 ILCS 5/5-146) (from Ch. 108 1/2, par. 5-146)
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Sec. 5-146. Wives and widows not entitled to annuities. The |
following wives or widows have no right to annuity from the |
fund:
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(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 |
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annuity, then and only then shall the Board have authority to |
grant and award the annuity that would have been otherwise |
available;
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(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;
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(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;
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(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;
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(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 |
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year after the policeman's death, and (2) the board
was made a |
party to the proceedings;
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(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;
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(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.
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(Source: P.A. 86-272.)
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(40 ILCS 5/5-147) (from Ch. 108 1/2, par. 5-147)
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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 |
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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.
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(b) This subsection (b) does not apply on or after the |
effective date of
this amendatory Act of the 95th General |
Assembly.
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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
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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.
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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 |
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with any part of the accumulated contributions
for age and |
service annuity remaining in the fund at her death shall be
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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
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refund.
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(Source: P.A. 86-1488.)
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(40 ILCS 5/5-152) (from Ch. 108 1/2, par. 5-152)
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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
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years of service who dies after withdrawal, whether or not he |
has
entered upon annuity.
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A child to be eligible must have been born or legally |
adopted
before the policeman has withdrawn from service. In the |
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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.
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Only one annuity shall be granted and paid for the benefit |
of
any child if both parents have been policemen.
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The annuity shall be paid, without regard to the fact that
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the death of the deceased policeman parent may have occurred |
prior to
the effective date of this amendatory Act of 1975, in
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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
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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 |
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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
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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.
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In the case of a family of a policeman who dies on or after
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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.
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Child's annuity shall be paid to the parent providing for
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the child, unless another person is appointed by a court of law |
as
the child's guardian.
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(Source: P.A. 79-699; 79-881; 79-1454.)
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(40 ILCS 5/7-139) (from Ch. 108 1/2, par. 7-139)
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Sec. 7-139. Credits and creditable service to employees.
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(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:
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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
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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:
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If the effective date of participation for the |
participating municipality
or participating |
instrumentality is on or before January 1, 1998, creditable
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service shall be granted for the entire period of prior |
service with that
employer without any employee |
contribution.
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If the effective date of participation for the |
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participating municipality
or participating |
instrumentality is after January 1, 1998, creditable
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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.
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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 |
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participation.
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Any person who has withdrawn from the service of a |
participating
municipality
or participating |
instrumentality prior to the effective date, who reenters
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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
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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
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reentering service with the employer after the employer's |
effective date of
participation.
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2. For current service, each participating employee |
shall be
credited with:
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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.
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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 |
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of
establishing out-of-state service credits as |
permitted under the conditions set
forth in paragraph 6 |
of this subsection (a).
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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.
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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
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for the purpose of establishing out-of-state service |
credits.
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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.
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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:
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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.
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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.
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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
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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
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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.
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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
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is creditable hereunder, and if the employee has at |
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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
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payable.
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e. No credits or creditable service shall be |
allowed for leave of
absence without pay during any |
period of prior service.
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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
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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
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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 |
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are payable for death or disability during such period.
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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
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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.
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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 |
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effective rate.
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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.
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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
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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.
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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 |
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employee had participated and has irrevocably
forfeited |
all rights to benefits in the out-of-state public employees
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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
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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
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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.
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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 |
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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.
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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
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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
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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.
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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 |
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employee's accumulated unused sick leave
for which payment |
is not received, as follows:
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a. Sick leave days shall be limited to those |
accumulated under a sick
leave plan established by a |
participating municipality or participating
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instrumentality which is available to all employees or |
a class of employees.
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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.
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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.
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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 |
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subdivision 8.
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e. Employee contributions shall not be required |
for creditable service
under this subdivision 8.
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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.
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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,
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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 |
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purposes of Section 7-142.1.
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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) |