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Public Act 097-0099
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| HB0144 Enrolled | LRB097 05348 JDS 45403 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 changing |
Sections 3-101, 4-101, and 4-106.1 and adding Section 3-144.6 |
as follows:
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(40 ILCS 5/3-101) (from Ch. 108 1/2, par. 3-101)
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Sec. 3-101. Creation of fund. In each municipality, as |
defined in Section 3-103, the city council or
the board of |
trustees, as the case may be, shall establish and administer a
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police pension fund, as prescribed in this Article, for the
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benefit of its police officers and of their surviving spouses,
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children, and certain other dependents. The duty of the |
corporate authorities of a municipality to establish and |
administer a police pension fund shall be suspended during any |
period during which the fund is dissolved under Section 3-144.6 |
of this Code.
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(Source: P.A. 83-1440.)
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(40 ILCS 5/3-144.6 new) |
Sec. 3-144.6. Dissolution and reestablishment of inactive |
police pension funds. The corporate authorities of a |
municipality for which a pension fund has been established |
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under this Article may, by resolution or ordinance, dissolve |
the fund if an independent auditor has certified to the |
authorities that the fund has no liabilities, participants, or |
beneficiaries entitled to benefits, and the authorities shall |
reestablish the fund if a police officer of the municipality |
seeks to establish service credit in the fund or if |
reestablishment of the fund is required upon a former police |
officer's reinstatement of creditable service under subsection |
(b) of Section 3-110.7 of this Code. |
The Public Pension Division of the Department of Insurance |
shall adopt rules regarding the process and procedures for (i) |
dissolving a pension fund under this Section and (ii) |
redistributing assets and reestablishing the fund if |
reestablishment of the fund is necessary.
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(40 ILCS 5/4-101) (from Ch. 108 1/2, par. 4-101)
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Sec. 4-101. Creation of fund. In each municipality as |
defined in Section 4-103, the city council or
the board of |
trustees, as the case may be, shall establish and administer
a |
firefighters' pension fund as
prescribed in this Article, for |
the
benefit of its firefighters
and of their surviving spouses,
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children and certain other dependents. The duty of the |
corporate authorities of a municipality to establish and |
administer a firefighters' pension fund shall be suspended |
during any period during which the fund is dissolved under |
subsection (c) of Section 4-106.1 of this Code.
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(Source: P.A. 83-1440.)
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(40 ILCS 5/4-106.1) (from Ch. 108 1/2, par. 4-106.1)
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Sec. 4-106.1.
Discontinuation of fire protection district; |
annexation
to fire protection district; dissolution and |
reestablishment of inactive firefighters' pension funds.
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(a) Whenever a fire protection district which has |
established
a pension fund under this Article is discontinued |
under "An Act in
Relation to Fire Protection Districts", and |
the municipality assuming
the obligations of the district is |
required to and has established
a Firefighters' Pension Fund |
under this Article, the assets of the fund
established by the |
district shall be transferred to the "Board of Trustees
of the |
Firefighters Pension Fund" of the municipality. The |
Firefighter's
Pension Fund of the municipality shall assume all |
accrued liabilities of
the district's pension fund, and all |
accrued rights, benefits and future
expectancies of the |
members, retired employees and beneficiaries of the
district's |
fund shall remain unimpaired.
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(b) If a municipal fire department for which a pension fund |
has been
established under this Article is discontinued and the |
affected territory
is annexed by a fire protection district, |
and the fire protection district
is required to and has |
established a firefighters' pension fund under this
Article, |
then the assets of the firefighters' pension fund established |
by the
municipality shall be transferred to the board of |
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trustees of the pension fund
of the fire protection district. |
The firefighters' pension fund of the fire
protection district |
shall assume all liabilities of the municipality's
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firefighters' pension fund, and all of the accrued rights, |
benefits, and
future expectancies of the members, retired |
employees, and beneficiaries of
the municipality's |
firefighters' pension fund shall remain unimpaired.
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(c) The corporate authorities of a municipality for which a |
pension fund has been established under this Article may, by |
resolution or ordinance, dissolve the fund if an independent |
auditor has certified to the authorities that the fund has no |
liabilities, participants, or beneficiaries entitled to |
benefits, and the authorities shall reestablish the fund if a |
firefighter of the municipality seeks to establish service |
credit in the fund or if reestablishment of the fund is |
required upon a former firefighter's reinstatement of |
creditable service under subsection (g) of Section 4-109.3 of |
this Code. |
The Public Pension Division of the Department of Insurance |
shall adopt rules regarding the process and procedures for (i) |
dissolving a pension fund under this Section and (ii) |
redistributing assets and reestablishing the fund if |
reestablishment of the fund is necessary. |
(Source: P.A. 93-123, eff. 7-10-03.)
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Section 90. The State Mandates Act is amended by adding |