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91_SB0273
LRB9102117EGfg
1 AN ACT to amend the Illinois Pension Code and the State
2 Mandates Act.
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 Sections 2-117.4, 7-139.10, 8-230.8, 9-121.16,
7 11-125.9, 12-127.6, 13-404, 14-104.12, 15-113.11, 16-131.7,
8 17-114.4, and 18-112.7 as follows:
9 (40 ILCS 5/2-117.4 new)
10 Sec. 2-117.4. Credit for employment with the Metropolitan
11 Pier and Exposition Authority.
12 (a) A person who has service credit in the System and
13 has not yet begun to receive a retirement annuity may
14 establish service credit in this System for periods during
15 which he or she was employed by the Metropolitan Pier and
16 Exposition Authority or its predecessor entities, provided
17 that the person does not have credit for those periods in any
18 other public employee pension fund or retirement system and
19 has terminated participation with respect to those periods of
20 employment in any pension or retirement program established
21 by the Authority or its predecessor entities. A person may
22 not establish more than 10 years of service credit under this
23 subsection.
24 In order to establish this credit, the person must apply
25 in writing to the Board and pay to the System an amount equal
26 to the sum of: (i) employee contributions based upon the
27 period of credit to be established, the employee contribution
28 rate in effect at the time of application, and the
29 applicant's salary rate on the last day of service in the
30 System before his or her employment with the Authority, or
31 the first day of service in the System after that employment,
-2- LRB9102117EGfg
1 whichever is higher; (ii) the employer's normal cost of the
2 service credit established; and (iii) interest on items (i)
3 and (ii) at the rate of 6% per year, compounded annually,
4 from the date of the service to the date of payment. The
5 applicant may pay the required contribution in a lump sum at
6 any time before the retirement annuity begins or in 24 equal
7 monthly installments deducted from the retirement annuity.
8 (b) A person wishing to establish service credit under
9 subsection (a) may reinstate creditable service terminated
10 upon receipt of a refund, by paying to the System the amount
11 of the refund plus interest thereon at the rate of 6% per
12 year, compounded annually, from the date of the refund to the
13 date of payment.
14 (40 ILCS 5/7-139.10 new)
15 Sec. 7-139.10. Credit for employment with the
16 Metropolitan Pier and Exposition Authority.
17 (a) A person who has service credit in the Fund and has
18 not yet begun to receive a retirement annuity may establish
19 service credit in this Fund for periods during which he or
20 she was employed by the Metropolitan Pier and Exposition
21 Authority or its predecessor entities, provided that the
22 person does not have credit for those periods in any other
23 public employee pension fund or retirement system and has
24 terminated participation with respect to those periods of
25 employment in any pension or retirement program established
26 by the Authority or its predecessor entities. A person may
27 not establish more than 10 years of service credit under this
28 subsection.
29 In order to establish this credit, the person must apply
30 in writing to the Board and pay to the Fund an amount equal
31 to the sum of: (i) employee contributions based upon the
32 period of credit to be established, the employee contribution
33 rate in effect at the time of application, and the
-3- LRB9102117EGfg
1 applicant's salary rate on the last day of service in the
2 Fund before his or her employment with the Authority, or the
3 first day of service in the Fund after that employment,
4 whichever is higher; (ii) the employer's normal cost of the
5 service credit established; and (iii) interest at the
6 effective rate on items (i) and (ii) from the date of the
7 service to the date of payment. The applicant may pay the
8 required contribution in a lump sum at any time before the
9 retirement annuity begins or in 24 equal monthly installments
10 deducted from the retirement annuity.
11 (b) A person wishing to establish service credit under
12 subsection (a) may reinstate creditable service terminated
13 upon receipt of a separation benefit, by paying to the Fund
14 the amount of the separation benefit plus interest thereon at
15 the effective rate, compounded annually, from the date of
16 receiving the separation benefit to the date of payment.
17 (40 ILCS 5/8-230.8 new)
18 Sec. 8-230.8. Credit for employment with the Metropolitan
19 Pier and Exposition Authority.
20 (a) A person who has service credit in the Fund and has
21 not yet begun to receive a retirement annuity may establish
22 service credit in this Fund for periods during which he or
23 she was employed by the Metropolitan Pier and Exposition
24 Authority or its predecessor entities, provided that the
25 person does not have credit for those periods in any other
26 public employee pension fund or retirement system and has
27 terminated participation with respect to those periods of
28 employment in any pension or retirement program established
29 by the Authority or its predecessor entities. A person may
30 not establish more than 10 years of service credit under this
31 subsection.
32 In order to establish this credit, the person must apply
33 in writing to the Board and pay to the Fund an amount equal
-4- LRB9102117EGfg
1 to the sum of: (i) employee contributions based upon the
2 period of credit to be established, the employee contribution
3 rate in effect at the time of application, and the
4 applicant's salary rate on the last day of service in the
5 Fund before his or her employment with the Authority, or the
6 first day of service in the Fund after that employment,
7 whichever is higher; (ii) the employer's normal cost of the
8 service credit established; and (iii) interest on items (i)
9 and (ii) at the rate of 6% per year, compounded annually,
10 from the date of the service to the date of payment. The
11 applicant may pay the required contribution in a lump sum at
12 any time before the retirement annuity begins or in 24 equal
13 monthly installments deducted from the retirement annuity.
14 (b) A person wishing to establish service credit under
15 subsection (a) may reinstate creditable service terminated
16 upon receipt of a refund, by paying to the Fund the amount of
17 the refund plus interest thereon at the rate of 6% per year,
18 compounded annually, from the date of the refund to the date
19 of payment.
20 (40 ILCS 5/9-121.16 new)
21 Sec. 9-121.16. Credit for employment with the
22 Metropolitan Pier and Exposition Authority.
23 (a) A person who has service credit in the Fund and has
24 not yet begun to receive a retirement annuity may establish
25 service credit in this Fund for periods during which he or
26 she was employed by the Metropolitan Pier and Exposition
27 Authority or its predecessor entities, provided that the
28 person does not have credit for those periods in any other
29 public employee pension fund or retirement system and has
30 terminated participation with respect to those periods of
31 employment in any pension or retirement program established
32 by the Authority or its predecessor entities. A person may
33 not establish more than 10 years of service credit under this
-5- LRB9102117EGfg
1 subsection.
2 In order to establish this credit, the person must apply
3 in writing to the Board and pay to the Fund an amount equal
4 to the sum of: (i) employee contributions based upon the
5 period of credit to be established, the employee contribution
6 rate in effect at the time of application, and the
7 applicant's salary rate on the last day of service in the
8 Fund before his or her employment with the Authority, or the
9 first day of service in the Fund after that employment,
10 whichever is higher; (ii) the employer's normal cost of the
11 service credit established; and (iii) interest on items (i)
12 and (ii) at the rate of 6% per year, compounded annually,
13 from the date of the service to the date of payment. The
14 applicant may pay the required contribution in a lump sum at
15 any time before the retirement annuity begins or in 24 equal
16 monthly installments deducted from the retirement annuity.
17 (b) A person wishing to establish service credit under
18 subsection (a) may reinstate creditable service terminated
19 upon receipt of a refund, by paying to the Fund the amount of
20 the refund plus interest thereon at the rate of 6% per year,
21 compounded annually, from the date of the refund to the date
22 of payment.
23 (40 ILCS 5/11-125.9 new)
24 Sec. 11-125.9. Credit for employment with the
25 Metropolitan Pier and Exposition Authority.
26 (a) A person who has service credit in the Fund and has
27 not yet begun to receive a retirement annuity may establish
28 service credit in this Fund for periods during which he or
29 she was employed by the Metropolitan Pier and Exposition
30 Authority or its predecessor entities, provided that the
31 person does not have credit for those periods in any other
32 public employee pension fund or retirement system and has
33 terminated participation with respect to those periods of
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1 employment in any pension or retirement program established
2 by the Authority or its predecessor entities. A person may
3 not establish more than 10 years of service credit under this
4 subsection.
5 In order to establish this credit, the person must apply
6 in writing to the Board and pay to the Fund an amount equal
7 to the sum of: (i) employee contributions based upon the
8 period of credit to be established, the employee contribution
9 rate in effect at the time of application, and the
10 applicant's salary rate on the last day of service in the
11 Fund before his or her employment with the Authority, or the
12 first day of service in the Fund after that employment,
13 whichever is higher; (ii) the employer's normal cost of the
14 service credit established; and (iii) interest on items (i)
15 and (ii) at the rate of 6% per year, compounded annually,
16 from the date of the service to the date of payment. The
17 applicant may pay the required contribution in a lump sum at
18 any time before the retirement annuity begins or in 24 equal
19 monthly installments deducted from the retirement annuity.
20 (b) A person wishing to establish service credit under
21 subsection (a) may reinstate creditable service terminated
22 upon receipt of a refund, by paying to the Fund the amount of
23 the refund plus interest thereon at the rate of 6% per year,
24 compounded annually, from the date of the refund to the date
25 of payment.
26 (40 ILCS 5/12-127.6 new)
27 Sec. 12-127.6. Credit for employment with the
28 Metropolitan Pier and Exposition Authority.
29 (a) A person who has service credit in the Fund and has
30 not yet begun to receive a retirement annuity may establish
31 service credit in this Fund for periods during which he or
32 she was employed by the Metropolitan Pier and Exposition
33 Authority or its predecessor entities, provided that the
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1 person does not have credit for those periods in any other
2 public employee pension fund or retirement system and has
3 terminated participation with respect to those periods of
4 employment in any pension or retirement program established
5 by the Authority or its predecessor entities. A person may
6 not establish more than 10 years of service credit under this
7 subsection.
8 In order to establish this credit, the person must apply
9 in writing to the Board and pay to the Fund an amount equal
10 to the sum of: (i) employee contributions based upon the
11 period of credit to be established, the employee contribution
12 rate in effect at the time of application, and the
13 applicant's salary rate on the last day of service in the
14 Fund before his or her employment with the Authority, or the
15 first day of service in the Fund after that employment,
16 whichever is higher; (ii) the employer's normal cost of the
17 service credit established; and (iii) regular interest on
18 items (i) and (ii) from the date of the service to the date
19 of payment. The applicant may pay the required contribution
20 in a lump sum at any time before the retirement annuity
21 begins or in 24 equal monthly installments deducted from the
22 retirement annuity.
23 (b) A person wishing to establish service credit under
24 subsection (a) may reinstate creditable service terminated
25 upon receipt of a refund, by paying to the Fund the amount of
26 the refund plus regular interest thereon, compounded
27 annually, from the date of the refund to the date of payment.
28
29 (40 ILCS 5/13-404 new)
30 Sec. 13-404. Credit for employment with the Metropolitan
31 Pier and Exposition Authority.
32 (a) A person who has service credit in the Fund and has
33 not yet begun to receive a retirement annuity may establish
-8- LRB9102117EGfg
1 service credit in this Fund for periods during which he or
2 she was employed by the Metropolitan Pier and Exposition
3 Authority or its predecessor entities, provided that the
4 person does not have credit for those periods in any other
5 public employee pension fund or retirement system and has
6 terminated participation with respect to those periods of
7 employment in any pension or retirement program established
8 by the Authority or its predecessor entities. A person may
9 not establish more than 10 years of service credit under this
10 subsection.
11 In order to establish this credit, the person must apply
12 in writing to the Board and pay to the Fund an amount equal
13 to the sum of: (i) employee contributions based upon the
14 period of credit to be established, the employee contribution
15 rate in effect at the time of application, and the
16 applicant's salary rate on the last day of service in the
17 Fund before his or her employment with the Authority, or the
18 first day of service in the Fund after that employment,
19 whichever is higher; (ii) the employer's normal cost of the
20 service credit established; and (iii) interest on items (i)
21 and (ii) at the rate of 6% per year, compounded annually,
22 from the date of the service to the date of payment. The
23 applicant may pay the required contribution in a lump sum at
24 any time before the retirement annuity begins or in 24 equal
25 monthly installments deducted from the retirement annuity.
26 (b) A person wishing to establish service credit under
27 subsection (a) may reinstate creditable service terminated
28 upon receipt of a refund, by paying to the Fund the amount of
29 the refund plus interest thereon at the rate of 6% per year,
30 compounded annually, from the date of the refund to the date
31 of payment.
32 (40 ILCS 5/14-104.12 new)
33 Sec. 14-104.12. Credit for employment with the
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1 Metropolitan Pier and Exposition Authority.
2 (a) A person who has service credit in the System and
3 has not yet begun to receive a retirement annuity may
4 establish service credit in this System for periods during
5 which he or she was employed by the Metropolitan Pier and
6 Exposition Authority or its predecessor entities, provided
7 that the person does not have credit for those periods in any
8 other public employee pension fund or retirement system and
9 has terminated participation with respect to those periods of
10 employment in any pension or retirement program established
11 by the Authority or its predecessor entities. A person may
12 not establish more than 10 years of service credit under this
13 subsection.
14 In order to establish this credit, the person must apply
15 in writing to the Board and pay to the System an amount equal
16 to the sum of: (i) employee contributions based upon the
17 period of credit to be established, the employee contribution
18 rate in effect at the time of application, and the
19 applicant's salary rate on the last day of service in the
20 System before his or her employment with the Authority, or
21 the first day of service in the System after that employment,
22 whichever is higher; (ii) the employer's normal cost of the
23 service credit established; and (iii) regular interest on
24 items (i) and (ii) from the date of the service to the date
25 of payment. The applicant may pay the required contribution
26 in a lump sum at any time before the retirement annuity
27 begins or in 24 equal monthly installments deducted from the
28 retirement annuity.
29 (b) A person wishing to establish service credit under
30 subsection (a) may reinstate creditable service terminated
31 upon receipt of a refund, by paying to the System the amount
32 of the refund plus regular interest thereon, compounded
33 annually, from the date of the refund to the date of payment.
34
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1 (40 ILCS 5/15-113.11 new)
2 Sec. 15-113.11. Credit for employment with the
3 Metropolitan Pier and Exposition Authority.
4 (a) A person who has service credit in the System and
5 has not yet begun to receive a retirement annuity may
6 establish service credit in this System for periods during
7 which he or she was employed by the Metropolitan Pier and
8 Exposition Authority or its predecessor entities, provided
9 that the person does not have credit for those periods in any
10 other public employee pension fund or retirement system and
11 has terminated participation with respect to those periods of
12 employment in any pension or retirement program established
13 by the Authority or its predecessor entities. A person may
14 not establish more than 10 years of service credit under this
15 subsection.
16 In order to establish this credit, the person must apply
17 in writing to the Board and pay to the System an amount equal
18 to the sum of: (i) employee contributions based upon the
19 period of credit to be established, the employee contribution
20 rate in effect at the time of application, and the
21 applicant's salary rate on the last day of service in the
22 System before his or her employment with the Authority, or
23 the first day of service in the System after that employment,
24 whichever is higher; (ii) the employer's normal cost of the
25 service credit established; and (iii) interest on items (i)
26 and (ii) at the effective rate from the date of the service
27 to the date of payment. The applicant may pay the required
28 contribution in a lump sum at any time before the retirement
29 annuity begins or in 24 equal monthly installments deducted
30 from the retirement annuity.
31 (b) A person wishing to establish service credit under
32 subsection (a) may reinstate creditable service terminated
33 upon receipt of a refund, by paying to the System the amount
34 of the refund plus interest thereon at the effective rate,
-11- LRB9102117EGfg
1 compounded annually, from the date of the refund to the date
2 of payment.
3 (40 ILCS 5/16-131.7 new)
4 Sec. 16-131.7. Credit for employment with the
5 Metropolitan Pier and Exposition Authority.
6 (a) A person who has service credit in the System and
7 has not yet begun to receive a retirement annuity may
8 establish service credit in this System for periods during
9 which he or she was employed by the Metropolitan Pier and
10 Exposition Authority or its predecessor entities, provided
11 that the person does not have credit for those periods in any
12 other public employee pension fund or retirement system and
13 has terminated participation with respect to those periods of
14 employment in any pension or retirement program established
15 by the Authority or its predecessor entities. A person may
16 not establish more than 10 years of service credit under this
17 subsection.
18 In order to establish this credit, the person must apply
19 in writing to the Board and pay to the System an amount equal
20 to the sum of: (i) employee contributions based upon the
21 period of credit to be established, the employee contribution
22 rate in effect at the time of application, and the
23 applicant's salary rate on the last day of service in the
24 System before his or her employment with the Authority, or
25 the first day of service in the System after that employment,
26 whichever is higher; (ii) the employer's normal cost of the
27 service credit established; and (iii) regular interest on
28 items (i) and (ii) from the date of the service to the date
29 of payment. The applicant may pay the required contribution
30 in a lump sum at any time before the retirement annuity
31 begins or in 24 equal monthly installments deducted from the
32 retirement annuity.
33 (b) A person wishing to establish service credit under
-12- LRB9102117EGfg
1 subsection (a) may reinstate creditable service terminated
2 upon receipt of a refund, by paying to the System the amount
3 of the refund plus regular interest thereon, compounded
4 annually, from the date of the refund to the date of payment.
5
6 (40 ILCS 5/17-114.4 new)
7 Sec. 17-114.4. Credit for employment with the
8 Metropolitan Pier and Exposition Authority.
9 (a) A person who has service credit in the Fund and has
10 not yet begun to receive a retirement annuity may establish
11 service credit in this Fund for periods during which he or
12 she was employed by the Metropolitan Pier and Exposition
13 Authority or its predecessor entities, provided that the
14 person does not have credit for those periods in any other
15 public employee pension fund or retirement system and has
16 terminated participation with respect to those periods of
17 employment in any pension or retirement program established
18 by the Authority or its predecessor entities. A person may
19 not establish more than 10 years of service credit under this
20 subsection.
21 In order to establish this credit, the person must apply
22 in writing to the Board and pay to the Fund an amount equal
23 to the sum of: (i) employee contributions based upon the
24 period of credit to be established, the employee contribution
25 rate in effect at the time of application, and the
26 applicant's salary rate on the last day of service in the
27 Fund before his or her employment with the Authority, or the
28 first day of service in the Fund after that employment,
29 whichever is higher; (ii) the employer's normal cost of the
30 service credit established; and (iii) interest on items (i)
31 and (ii) at the rate of 6% per year, compounded annually,
32 from the date of the service to the date of payment. The
33 applicant may pay the required contribution in a lump sum at
-13- LRB9102117EGfg
1 any time before the retirement annuity begins or in 24 equal
2 monthly installments deducted from the retirement annuity.
3 (b) A person wishing to establish service credit under
4 subsection (a) may reinstate creditable service terminated
5 upon receipt of a refund, by paying to the Fund the amount of
6 the refund plus interest thereon at the rate of 6% per year,
7 compounded annually, from the date of the refund to the date
8 of payment.
9 (40 ILCS 5/18-112.7 new)
10 Sec. 18-112.7. Credit for employment with the
11 Metropolitan Pier and Exposition Authority.
12 (a) A person who has service credit in the System and
13 has not yet begun to receive a retirement annuity may
14 establish service credit in this System for periods during
15 which he or she was employed by the Metropolitan Pier and
16 Exposition Authority or its predecessor entities, provided
17 that the person does not have credit for those periods in any
18 other public employee pension fund or retirement system and
19 has terminated participation with respect to those periods of
20 employment in any pension or retirement program established
21 by the Authority or its predecessor entities. A person may
22 not establish more than 10 years of service credit under this
23 subsection.
24 In order to establish this credit, the person must apply
25 in writing to the Board and pay to the System an amount equal
26 to the sum of: (i) employee contributions based upon the
27 period of credit to be established, the employee contribution
28 rate in effect at the time of application, and the
29 applicant's salary rate on the last day of service in the
30 System before his or her employment with the Authority, or
31 the first day of service in the System after that employment,
32 whichever is higher; (ii) the employer's normal cost of the
33 service credit established; and (iii) interest on items (i)
-14- LRB9102117EGfg
1 and (ii) at the rate of 6% per year, compounded annually,
2 from the date of the service to the date of payment. The
3 applicant may pay the required contribution in a lump sum at
4 any time before the retirement annuity begins or in 24 equal
5 monthly installments deducted from the retirement annuity.
6 (b) A person wishing to establish service credit under
7 subsection (a) may reinstate creditable service terminated
8 upon receipt of a refund, by paying to the System the amount
9 of the refund plus interest thereon at the rate of 6% per
10 year, compounded annually, from the date of the refund to the
11 date of payment.
12 Section 90. The State Mandates Act is amended by adding
13 Section 8.23 as follows:
14 (30 ILCS 805/8.23 new)
15 Sec. 8.23. Exempt mandate. Notwithstanding Sections 6
16 and 8 of this Act, no reimbursement by the State is required
17 for the implementation of any mandate created by this
18 amendatory Act of the 91st General Assembly.
19 Section 99. Effective date. This Act takes effect upon
20 becoming law.