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| | 98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB5919 Introduced 2/14/2014, by Rep. Jeanne M Ives SYNOPSIS AS INTRODUCED:
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| 40 ILCS 5/3-144.3 new | | 40 ILCS 5/4-138.6 new | |
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Amends the Downstate Police and Firefighter Articles of the Illinois Pension Code. Provides that, if at any time the Public Pension Division of the Department of Insurance finds that a pension has been calculated using compensation that should not have been included in salary or final average salary, then the beneficiary of that pension shall pay back to the fund an amount equal to the benefit incurred by using that compensation. Effective immediately.
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| | | FISCAL NOTE ACT MAY APPLY | | PENSION IMPACT NOTE ACT MAY APPLY |
| | A BILL FOR |
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| | HB5919 | | LRB098 18361 EFG 53498 b |
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| 1 | | AN ACT concerning public employee benefits.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Illinois Pension Code is amended by adding |
| 5 | | Sections 3-144.3 and 4-138.6 as follows:
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| 6 | | (40 ILCS 5/3-144.3 new) |
| 7 | | Sec. 3-144.3. Error in calculation of pension. If at any |
| 8 | | time the Public Pension Division of the Department of Insurance |
| 9 | | finds that a pension has been calculated using compensation |
| 10 | | that should not have been included in the calculation of salary |
| 11 | | or final average salary, then the beneficiary of that pension |
| 12 | | shall pay back to the fund an amount equal to the benefit |
| 13 | | incurred by using that compensation. This is a clarification of |
| 14 | | existing law.
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| 15 | | (40 ILCS 5/4-138.6 new) |
| 16 | | Sec. 4-138.6. Error in calculation of pension. If at any |
| 17 | | time the Public Pension Division of the Department of Insurance |
| 18 | | finds that a pension has been calculated using compensation |
| 19 | | that should not have been included in the calculation of salary |
| 20 | | or final average salary, then the beneficiary of that pension |
| 21 | | shall pay back to the fund an amount equal to the benefit |
| 22 | | incurred by using that compensation. This is a clarification of |