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| Public Act 097-0099 | ||||
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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 | ||||
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 | ||
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 | ||
Section 8.35 as follows: | ||
(30 ILCS 805/8.35 new) | ||
Sec. 8.35. 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 97th General Assembly.
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