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Public Act 095-0654 |
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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 changing | ||||
Section 9-121.6 as follows:
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(40 ILCS 5/9-121.6) (from Ch. 108 1/2, par. 9-121.6)
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Sec. 9-121.6. Alternative annuity for county officers. (a) | ||||
Any
county officer elected by vote of the people may elect to | ||||
establish
alternative credits for an alternative annuity by | ||||
electing in writing to
make additional optional contributions | ||||
in accordance with this Section and
procedures established by | ||||
the board. Such elected county officer
may discontinue making | ||||
the additional optional contributions by notifying
the Fund in | ||||
writing in accordance with this Section and procedures
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established by the board.
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Additional optional contributions for the alternative | ||||
annuity shall
be as follows:
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(1) For service after the option is elected, an additional | ||||
contribution
of 3% of salary shall be contributed to the Fund | ||||
on the same basis and
under the same conditions as | ||||
contributions required under Sections 9-170
and 9-176.
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(2) For service before the option is elected, an additional
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contribution of 3% of the salary for the applicable period of |
service, plus
interest at the effective rate from the date of | ||
service to the date of
payment. All payments for past service | ||
must be paid in full before credit
is given. No additional | ||
optional contributions may be made for any period
of service | ||
for which credit has been previously forfeited by acceptance of
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a refund, unless the refund is repaid in full with interest at | ||
the
effective rate from the date of refund to the date of | ||
repayment.
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(b) In lieu of the retirement annuity otherwise payable | ||
under this
Article, any county officer elected by vote of the | ||
people who (1) has
elected to participate in the Fund and make | ||
additional optional
contributions in accordance with this | ||
Section, and (2)
has attained age 60 with at least 10 years of | ||
service credit,
or has attained age 65 with at least 8 years of | ||
service credit, may elect
to have his retirement annuity | ||
computed as follows: 3% of the
participant's salary at the time | ||
of termination of service for each of the
first 8 years of | ||
service credit, plus 4% of such salary for each of the
next 4 | ||
years of service credit, plus
5% of such salary for each year | ||
of service credit in excess of 12 years,
subject to a maximum | ||
of 80% of such salary. To the extent such elected
county | ||
officer has made additional optional contributions with | ||
respect to
only a portion of his years of service credit, his | ||
retirement annuity will
first be determined in accordance with | ||
this Section to the extent such
additional optional | ||
contributions were made, and then in accordance with
the |
remaining Sections of this Article to the extent of years of | ||
service
credit with respect to which additional optional | ||
contributions were not made.
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(c) In lieu of the disability benefits otherwise payable | ||
under this
Article, any county officer elected by vote of the | ||
people who (1) has
elected to participate in the Fund, and (2) | ||
has become
permanently disabled and as a consequence is unable | ||
to perform the duties
of his office, and (3) was making | ||
optional contributions in accordance with
this Section at the | ||
time the disability was incurred, may elect to receive
a | ||
disability annuity calculated in
accordance with the formula in | ||
subsection (b). For the purposes of this
subsection, such | ||
elected county officer shall be considered permanently
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disabled only if: (i) disability occurs while in service as an | ||
elected
county officer and is of such a nature as to prevent | ||
him from reasonably
performing the duties of his office at the | ||
time; and (ii) the board has
received a written certification | ||
by at least 2 licensed physicians
appointed by it stating that | ||
such officer is disabled and that the
disability is likely to | ||
be permanent.
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(d) Refunds of additional optional contributions shall be | ||
made on the
same basis and under the same conditions as | ||
provided under Section 9-164,
9-166 and 9-167. Interest shall | ||
be credited at the effective rate on the
same basis and under | ||
the same conditions as for other contributions.
Optional | ||
contributions shall be accounted for in a separate Elected |
County
Officer Optional Contribution Reserve. Optional | ||
contributions under this
Section shall be included in the | ||
amount of employee contributions used to
compute the tax levy | ||
under Section 9-169.
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(e) The effective date of this plan of optional alternative | ||
benefits
and contributions shall be January 1, 1988, or the | ||
date upon which
approval is received from the U.S. Internal | ||
Revenue Service, whichever is
later. The plan of optional | ||
alternative benefits and contributions shall
not be available | ||
to any former county officer or employee receiving an
annuity | ||
from the Fund on the effective date of the plan, unless he
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re-enters service as an elected county officer and renders at | ||
least 3 years
of additional service after the date of re-entry.
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(f) The plan of optional alternative benefits and | ||
contributions authorized under this Section applies only to | ||
county officers elected by vote of the people on or before the | ||
effective date of this amendatory Act of the 95th General | ||
Assembly.
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(Source: P.A. 85-964.)
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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.
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