HB2071 EngrossedLRB101 04625 RPS 49633 b

1    AN ACT concerning public employee benefits.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Pension Code is amended by adding
5Section 9-179.4 as follows:
 
6    (40 ILCS 5/9-179.4 new)
7    Sec. 9-179.4. Service for periods of furlough or salary
8reduction.
9    (a) An active participant may establish service credit and
10earnings credit for periods of furlough beginning on or after
11December 1, 2017 and ending on or before November 30, 2018. To
12receive this credit, the participant must (i) apply in writing
13to the Fund before December 31, 2019; (ii) not receive
14compensation or any type of remuneration from the county for
15any furlough period; (iii) make, on an after-tax basis,
16employee contributions required under this Article based on his
17or her salary during the periods of furlough, plus an amount
18determined by the Board to be equal to the employer's normal
19cost of the benefit, plus compounded interest at the
20actuarially assumed rate from the date of furlough to the date
21of payment; and (iv) pay the employee contributions required by
22this Section while he or she is an active participant and
23within 12 months after the date of application. The participant

 

 

HB2071 Engrossed- 2 -LRB101 04625 RPS 49633 b

1shall provide, at the time of application, written
2certification from the county stating (1) the total number of
3furlough days the participant has been required to take and (2)
4that the participant has not received compensation or any type
5of remuneration from the county for such furlough days.
6    (b) An active participant may establish earnings credit for
7periods of salary reduction beginning on or after December 1,
82017 and ending on or before November 30, 2018. To receive this
9credit, the participant must: (i) apply in writing to the Fund
10before December 31, 2019; (ii) not receive compensation or any
11type of remuneration from the county for any reduction in
12salary; (iii) make, on an after-tax basis, employee
13contributions required under this Article based on the
14reduction in salary, plus an amount determined by the Board to
15be equal to the employer's normal cost of the benefit, plus
16compounded interest at the actuarially assumed rate from the
17date of reduction in salary to the date of payment; and (iv)
18pay the employee contributions required by this Section while
19he or she is an active participant and within 12 months after
20the date of application. The participant shall provide, at the
21time of application, written certification from the county
22stating (1) the total reduction in salary for each pay period
23with a reduction in salary and (2) that the participant has not
24received compensation or any type of remuneration from the
25county for such reduction in salary.
26    (c) For the purposes of this Section, the employer's normal

 

 

HB2071 Engrossed- 3 -LRB101 04625 RPS 49633 b

1cost shall be determined by the Fund's actuarial valuation for
2the year ending December 31, 2018. Any payments received under
3this Section shall be considered contributions made by the
4employee for the purposes of Sections 9-169 and 10-107 of this
5Code.
 
6    Section 90. The State Mandates Act is amended by adding
7Section 8.43 as follows:
 
8    (30 ILCS 805/8.43 new)
9    Sec. 8.43. Exempt mandate. Notwithstanding Sections 6 and 8
10of this Act, no reimbursement by the State is required for the
11implementation of any mandate created by this amendatory Act of
12the 101st General Assembly.
 
13    Section 99. Effective date. This Act takes effect upon
14becoming law.