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Public Act 096-0285
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| HB2582 Enrolled |
LRB096 06189 AMC 16271 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. If, and only if, Senate Bill 2520 of the 95th |
General Assembly becomes law, then the Illinois Pension Code is |
amended by changing Section 5-214.2 as follows:
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(40 ILCS 5/5-214.2) |
Sec. 5-214.2. Credit for certain law enforcement service. |
An active policeman who is a member of this Fund on or before |
the effective date of this Section may establish up to 10 years |
of additional service credit in 6-month increments for service |
in a law enforcement capacity under Articles 3, 7, 8, 9, 10, |
13, 14, and 15 and Division 1 of Article 22, or as a law |
enforcement officer with the Chicago Housing Authority, or as a |
law enforcement officer with any agency of the United States |
government, provided that: (1) service credit is not available |
for that employment under any other provision of this Article; |
(2) any service credit for that employment received under any |
other provision of this Code or under the retirement plan of |
the Chicago Housing Authority or Federal Employee Retirement |
System has been terminated; and (3) the policeman applies for |
this credit in writing within one year after the effective date |
of this Section and pays to the Fund within 5 years after the |
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date of application an amount to be determined by the Fund in |
accordance with this Section. |
An active policeman who becomes a member of this Fund after |
the effective date of this Section may establish up to 10 years |
of additional service credit in 6-month increments for service |
in a law enforcement capacity under Articles 3, 7, 8, 9, 10, |
13, 14, and 15 and Division 1 of Article 22, or as a law |
enforcement officer with the Chicago Housing Authority, or as a |
law enforcement officer with any agency of the United States |
government, provided that: (1) service credit is not available |
for that employment under any other provision of this Article; |
(2) any service credit for that employment received under any |
other provision of this Code or under the retirement plan of |
the Chicago Housing Authority or Federal Employee Retirement |
System has been terminated; and (3) the policeman applies for |
this credit in writing within 2 years after he or she begins |
employment under this Article and pays to the Fund within 5 |
years after the date of application an amount to be determined |
by the Fund in accordance with this Section. |
The Fund must determine the policeman's payment required to |
establish creditable service under this Section by taking into |
account the appropriate actuarial assumptions, including |
without limitation the police officer's service, age, and |
salary history; the level of funding of the Fund; and any other |
factors that the Fund determines to be relevant. For this |
purpose, the policeman's required payment should result in no |
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significant increase to the Fund's unfunded actuarial accrued |
liability determined as of the most recent actuarial valuation, |
based on the same assumptions and methods used to develop and |
report the Fund's actuarial accrued liability and actuarial |
value of assets under Statement No. 25 of Governmental |
Accounting Standards Board or any subsequent applicable |
Statement.
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(Source: 95SB2520enr.)
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Section 90. The State Mandates Act is amended by adding |
Section 8.33 as follows:
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(30 ILCS 805/8.33 new) |
Sec. 8.33. 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 96th General Assembly.
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Section 99. Effective date. This Act takes effect upon |
becoming law.
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