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| | SB1582 Engrossed | | LRB101 07577 RPS 52622 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 changing |
| 5 | | Section 13-208 as follows:
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| 6 | | (40 ILCS 5/13-208) (from Ch. 108 1/2, par. 13-208)
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| 7 | | Sec. 13-208. "Average final salary": The highest average |
| 8 | | monthly annual salary
as calculated by accumulating the salary |
| 9 | | for the highest 520 52
consecutive paid days of service pay |
| 10 | | periods within the last 10 years of service immediately
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| 11 | | preceding the date of retirement and dividing by 24 2. If the |
| 12 | | employee is paid for any portion of a work day, the fraction of |
| 13 | | the day worked and the salary for that fraction of the day |
| 14 | | shall be counted in accordance with the Fund's administrative |
| 15 | | rules.
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| 16 | | (Source: P.A. 90-12, eff. 6-13-97.)
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| 17 | | Section 99. Effective date. This Act takes effect upon |
| 18 | | becoming law.
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