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91_HB1994
LRB9104984EGfg
1 AN ACT to amend the Illinois Pension Code by adding
2 Section 7-199.4.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Pension Code is amended by
6 adding Section 7-199.4 as follows:
7 (40 ILCS 5/7-199.4 new)
8 Sec. 7-199.4. To compensate employers for services
9 related to the Fund.
10 If an employer of 500 or more participating employees has
11 designated one or more of its employees to act during working
12 hours as the Fund's agent, to assist employees in their
13 dealings with the Fund, to provide information about the
14 Fund, or otherwise to assist in the administration or
15 implementation of the programs established under this
16 Article, then the Fund shall annually compensate that
17 employer for the services provided. The compensation shall
18 be calculated at the rate of $4 for each employee of the
19 employer participating in the Fund on December 31, and shall
20 be payable no later than the following January 31. The Fund
21 shall treat these payments as a part of its annual
22 administrative expense.
23 Section 99. Effective date. This Act takes effect upon
24 becoming law.