093_HB0585sam001











                                     LRB093 05674 LRD 20215 a

 1                     AMENDMENT TO HOUSE BILL 585

 2        AMENDMENT NO.     .  Amend House Bill  585  by  replacing
 3    everything after the enacting clause with the following:

 4        "Section 5.  The State Finance Act is amended by changing
 5    Sections  8.12,  8a,  and  14.1  and  adding Section 6z-61 as
 6    follows:

 7        (30 ILCS 105/6z-61 new)
 8        Sec. 6z-61. Transfers from Pension Contribution Fund.
 9        (a)  As soon as practicable after the effective  date  of
10    this  amendatory  Act of the 93rd General Assembly, the State
11    Comptroller  shall  direct  and  the  State  Treasurer  shall
12    transfer from the Pension Contribution Fund to the  Teachers'
13    Retirement   System  of  Illinois  an  amount  equal  to  the
14    unexpended balance of the fiscal year 2004 appropriations  to
15    the  System  from  the  General  Revenue  Fund, the Education
16    Assistance Fund,  the  Common  School  Fund,  and  the  State
17    Pensions  Fund  so  that the amount received by the System in
18    fiscal year 2004 is equal to the fiscal year  2004  certified
19    contribution  amount  for  the  System  as  determined  under
20    Section 16-158 of the Illinois Pension Code.
21        (b)  As  soon  as practicable after the effective date of
22    this amendatory Act of the 93rd General Assembly,  the  State
 
                            -2-      LRB093 05674 LRD 20215 a
 1    Comptroller  shall  direct  and  the  State  Treasurer  shall
 2    transfer  from  the  Pension  Contribution  Fund to the State
 3    Universities  Retirement  System  an  amount  equal  to   the
 4    unexpended  balance of the fiscal year 2004 appropriations to
 5    the System from  the  General  Revenue  Fund,  the  Education
 6    Assistance  Fund,  and  the  State  Pensions Fund so that the
 7    amount received by the System in fiscal year 2004 is equal to
 8    the fiscal year 2004 certified contribution  amount  for  the
 9    System  as  determined  under  Section 15-165 of the Illinois
10    Pension Code.
11        (c)  As soon as practicable after the effective  date  of
12    this  amendatory  Act of the 93rd General Assembly, the State
13    Comptroller  shall  direct  and  the  State  Treasurer  shall
14    transfer from the Pension Contribution  Fund  to  the  Judges
15    Retirement   System  of  Illinois  an  amount  equal  to  the
16    unexpended balance of the fiscal year 2004 appropriations  to
17    the  System  from  the  General  Revenue  Fund  and the State
18    Pensions Fund so that the amount received by  the  System  in
19    fiscal  year  2004 is equal to the fiscal year 2004 certified
20    contribution  amount  for  the  System  as  determined  under
21    Section 18-140 of the Illinois Pension Code.
22        (d)  As soon as practicable after the effective  date  of
23    this  amendatory  Act of the 93rd General Assembly, the State
24    Comptroller  shall  direct  and  the  State  Treasurer  shall
25    transfer from the Pension Contribution Fund  to  the  General
26    Assembly  Retirement System an amount equal to the unexpended
27    balance of the fiscal year 2004 appropriations to the  System
28    from  the General Revenue Fund and the State Pensions Fund so
29    that the amount received by the System in fiscal year 2004 is
30    equal to the fiscal year 2004 certified  contribution  amount
31    for  the  System  as  determined  under  Section 2-134 of the
32    Illinois Pension Code.
33        (e)  As soon as practicable after the effective  date  of
34    this  amendatory Act of the 93rd General Assembly, and taking
 
                            -3-      LRB093 05674 LRD 20215 a
 1    into consideration the transfers provided for by  subsections
 2    (a),  (b),  (c),  and (d), the State Comptroller shall direct
 3    and the State Treasurer shall transfer the remaining  balance
 4    in  the  Pension  Contribution  Fund  to the State Employees'
 5    Retirement System of Illinois.

 6        (30 ILCS 105/8.12) (from Ch. 127, par. 144.12)
 7        Sec. 8.12. State Pensions Fund.
 8        (a)  The moneys in the State Pensions Fund shall be  used
 9    exclusively for the administration of the Uniform Disposition
10    of Unclaimed Property Act and for the payment of or repayment
11    to  the  General Revenue Fund a portion of the required State
12    contributions to the designated retirement systems.
13        "Designated retirement systems" means:
14             (1)  the  State  Employees'  Retirement  System   of
15        Illinois;
16             (2)  the Teachers' Retirement System of the State of
17        Illinois;
18             (3)  the State Universities Retirement System;
19             (4)  the Judges Retirement System of Illinois; and
20             (5)  the General Assembly Retirement System.
21        (b)  Each    year   the   General   Assembly   may   make
22    appropriations  from  the  State  Pensions   Fund   for   the
23    administration   of  the  Uniform  Disposition  of  Unclaimed
24    Property Act.
25        Each month, the Commissioner of the Office of  Banks  and
26    Real  Estate  shall certify to the State Treasurer the actual
27    expenditures  that  the  Office  of  Banks  and  Real  Estate
28    incurred conducting unclaimed property examinations under the
29    Uniform Disposition of  Unclaimed  Property  Act  during  the
30    immediately   preceding  month.   Within  a  reasonable  time
31    following the acceptance of such certification by  the  State
32    Treasurer,   the   State   Treasurer   shall   pay  from  its
33    appropriation from the State Pensions Fund to  the  Bank  and
 
                            -4-      LRB093 05674 LRD 20215 a
 1    Trust  Company  Fund  and the Savings and Residential Finance
 2    Regulatory Fund an amount equal to the expenditures  incurred
 3    by each Fund for that month.
 4        Each  month, the Director of Financial Institutions shall
 5    certify to the State Treasurer the actual  expenditures  that
 6    the  Department of Financial Institutions incurred conducting
 7    unclaimed property examinations under the Uniform Disposition
 8    of Unclaimed Property Act during  the  immediately  preceding
 9    month.   Within a reasonable time following the acceptance of
10    such  certification  by  the  State  Treasurer,   the   State
11    Treasurer  shall  pay  from  its appropriation from the State
12    Pensions Fund to the  Financial  Institutions  Fund  and  the
13    Credit  Union  Fund  an  amount  equal  to  the  expenditures
14    incurred by each Fund for that month.
15        (c)  Each  year  the General Assembly shall appropriate a
16    total amount equal to the balance in the State Pensions  Fund
17    at  the  close of business on June 30 of the preceding fiscal
18    year,  less  $5,000,000,  as  part  of  the  required   State
19    contributions  to  the  designated  retirement  systems.  The
20    amount of the appropriation  to  each  designated  retirement
21    system  shall constitute a portion of the total appropriation
22    under this subsection for that fiscal year which is the  same
23    as  that  retirement  system's portion of the total actuarial
24    reserve  deficiency  of  the  systems,   as   most   recently
25    determined  by the Governor's Office of Management and Budget
26    Bureau of the Budget.
27        (d)  The  Governor's  Office  of  Management  and  Budget
28    Bureau of the Budget shall determine the individual and total
29    reserve deficiencies of the  designated  retirement  systems.
30    For  this  purpose,  the  Governor's Office of Management and
31    Budget  Bureau  of  the  Budget  shall  utilize  the   latest
32    available   audit  and  actuarial  reports  of  each  of  the
33    retirement systems and the relevant reports and statistics of
34    the Public Employee Pension Fund Division of  the  Department
 
                            -5-      LRB093 05674 LRD 20215 a
 1    of Insurance.
 2        (d-1)  As soon as practicable after the effective date of
 3    this  amendatory  Act  of  the  93rd  General  Assembly,  the
 4    Comptroller  shall  direct  and  the Treasurer shall transfer
 5    from the State Pensions Fund to the General Revenue Fund,  as
 6    funds become available, a sum equal to the amounts that would
 7    have been paid from the General Revenue Fund to the Teachers'
 8    Retirement  System  of  the  State  of  Illinois,  the  State
 9    Universities  Retirement System, the Judges Retirement System
10    of Illinois, the General Assembly Retirement System, and  the
11    State  Employees'  Retirement  System  of  Illinois after the
12    effective date of this amendatory Act during the remainder of
13    fiscal year 2004 to the designated  retirement  systems  from
14    the  appropriations  provided  for  in  this  Section  if the
15    transfers provided in Section 6z-61  had  not  occurred.  The
16    transfers described in this subsection (d-1) are to partially
17    repay  the General Revenue Fund for the costs associated with
18    the  bonds  used  to  fund  the  moneys  transferred  to  the
19    designated retirement systems under Section 6z-61.
20        (e)  The changes to this Section made by this  amendatory
21    Act  of 1994 shall first apply to distributions from the Fund
22    for State fiscal year 1996.
23    (Source: P.A. 91-16, eff. 7-1-99; revised 8-23-03.)

24        (30 ILCS 105/8a) (from Ch. 127, par. 144a)
25        Sec. 8a.  Common School Fund; transfers to Common  School
26    Fund and Education Assistance Fund.
27        (a)  Except as provided in subsection (b) of this Section
28    and  except as otherwise provided in this subsection (a) with
29    respect to amounts transferred from the General Revenue  Fund
30    to  the Common School Fund for distribution therefrom for the
31    benefit of the Teachers' Retirement System of  the  State  of
32    Illinois   and   the  Public  School  Teachers'  Pension  and
33    Retirement Fund of Chicago:
 
                            -6-      LRB093 05674 LRD 20215 a
 1             (1)  With respect to all school districts, for  each
 2        fiscal year other than fiscal year 1994, on or before the
 3        eleventh  and  twenty-first days of each of the months of
 4        August through the following July, at  a  time  or  times
 5        designated  by  the Governor, the State Treasurer and the
 6        State Comptroller shall transfer from the General Revenue
 7        Fund to the Common School Fund and  Education  Assistance
 8        Fund,  as  appropriate, 1/24 or so much thereof as may be
 9        necessary of the amount appropriated to the  State  Board
10        of  Education  for  distribution  to all school districts
11        from such Common School  Fund  and  Education  Assistance
12        Fund,  for  the  fiscal  year,  including interest on the
13        School Fund proportionate for that distribution for  such
14        year.
15             (2)  With  respect  to all school districts, but for
16        fiscal year 1994 only, on the 11th day  of  August,  1993
17        and  on  or  before the 11th and 21st days of each of the
18        months of October, 1993 through July, 1994 at a  time  or
19        times designated by the Governor, the State Treasurer and
20        the  State  Comptroller  shall  transfer from the General
21        Revenue Fund to the Common School Fund 1/24  or  so  much
22        thereof as may be necessary of the amount appropriated to
23        the  State  Board  of  Education  for distribution to all
24        school districts from such Common School Fund, for fiscal
25        year  1994,  including  interest  on  the   School   Fund
26        proportionate for that distribution for such year; and on
27        or before the 21st day of August, 1993 at a time or times
28        designated  by  the Governor, the State Treasurer and the
29        State Comptroller shall transfer from the General Revenue
30        Fund to the Common School Fund 3/24 or so much thereof as
31        may be necessary of the amount appropriated to the  State
32        Board   of  Education  for  distribution  to  all  school
33        districts from the Common School Fund,  for  fiscal  year
34        1994,   including   interest   proportionate   for   that
 
                            -7-      LRB093 05674 LRD 20215 a
 1        distribution on the School Fund for such fiscal year.
 2        The  amounts  of  the payments made in July of each year:
 3    (i) shall be considered an outstanding liability  as  of  the
 4    30th  day  of June immediately preceding those July payments,
 5    within the meaning of Section 25 of this Act; (ii)  shall  be
 6    payable from the appropriation for the fiscal year that ended
 7    on  that  30th  day  of  June;  and (iii) shall be considered
 8    payments for claims covering the school year  that  commenced
 9    during the immediately preceding calendar year.
10        Notwithstanding   the   foregoing   provisions   of  this
11    subsection, as soon as may be after the 10th and 20th days of
12    each of the months of August through May, 1/24, and on or  as
13    soon  as may be after the 10th and 20th days of June, 1/12 of
14    the  annual  amount  appropriated  to  the  State  Board   of
15    Education  for  distribution  and  payment during that fiscal
16    year from the Common School Fund to and for  the  benefit  of
17    the  Teachers'  Retirement  System  of  the State of Illinois
18    (until the end of State fiscal  year  1995)  and  the  Public
19    School  Teachers'  Pension  and Retirement Fund of Chicago as
20    provided by the Illinois Pension Code and Section 18-7 of the
21    School Code, or so much thereof as may be necessary, shall be
22    transferred by the State Treasurer and the State  Comptroller
23    from  the  General  Revenue Fund to the Common School Fund to
24    permit semi-monthly payments from the Common School  Fund  to
25    and  for  the  benefit  of such teacher retirement systems as
26    required by Section 18-7 of the School Code.
27        Notwithstanding the other provisions of this Section,  on
28    or  as  soon  as  may  be  after  the 15th day of each month,
29    beginning  in  July  of  1995,  1/12  of  the  annual  amount
30    appropriated for that fiscal year from the Common School Fund
31    to the Teachers' Retirement System of the State  of  Illinois
32    (other  than  amounts  appropriated  under Section 1.1 of the
33    State Pension Funds Continuing Appropriation Act), or so much
34    thereof as may be necessary,  shall  be  transferred  by  the
 
                            -8-      LRB093 05674 LRD 20215 a
 1    State  Treasurer  and  the State Comptroller from the General
 2    Revenue Fund to the Common  School  Fund  to  permit  monthly
 3    payments  from  the  Common  School  Fund  to that retirement
 4    system in accordance with  Section  16-158  of  the  Illinois
 5    Pension Code and Section 18-7 of the School Code, except that
 6    such  transfers  in fiscal year 2004 from the General Revenue
 7    Fund to the  Common  School  Fund  for  the  benefit  of  the
 8    Teachers' Retirement System of the State of Illinois shall be
 9    reduced  in  the aggregate by the State Comptroller and State
10    Treasurer  to  adjust  for  the  amount  transferred  to  the
11    Teachers' Retirement System of the State of Illinois pursuant
12    to subsection (a) of Section 6z-61. Amounts  appropriated  to
13    the  Teachers'  Retirement  System  of  the State of Illinois
14    under Section 1.1  of  the  State  Pension  Funds  Continuing
15    Appropriation Act shall be transferred by the State Treasurer
16    and  the  State  Comptroller from the General Revenue Fund to
17    the Common School  Fund  as  necessary  to  provide  for  the
18    payment of vouchers drawn against those appropriations.
19        The Governor may notify the State Treasurer and the State
20    Comptroller   to  transfer,  at  a  time  designated  by  the
21    Governor, such additional  amount  as  may  be  necessary  to
22    effect  advance  distribution  to school districts of amounts
23    that otherwise would be payable in the next month pursuant to
24    Sections 18-8 through 18-10 of the  School  Code.  The  State
25    Treasurer  and the State Comptroller shall thereupon transfer
26    such additional amount. The aggregate amount transferred from
27    the General Revenue Fund to the Common  School  Fund  in  the
28    eleven months beginning August 1 of any fiscal year shall not
29    be  in  excess  of the amount necessary for payment of claims
30    certified by the State Superintendent of  Education  pursuant
31    to  the  appropriation  of  the  Common  School Fund for that
32    fiscal year. Notwithstanding  the  provisions  of  the  first
33    paragraph  in  this section, no transfer to effect an advance
34    distribution  shall  be  made  in   any   month   except   on
 
                            -9-      LRB093 05674 LRD 20215 a
 1    notification, as provided above, by the Governor.
 2        The  State Comptroller and State Treasurer shall transfer
 3    from the General Revenue Fund to the Common School  Fund  and
 4    the Education Assistance Fund such amounts as may be required
 5    to  honor  the  vouchers  presented  by  the  State  Board of
 6    Education pursuant to Sections 18-3, 18-4.3, 18-5,  18-6  and
 7    18-7 of the School Code.
 8        The State Comptroller shall report all transfers provided
 9    for  in  this  Act  to  the President of the Senate, Minority
10    Leader of the Senate, Speaker  of  the  House,  and  Minority
11    Leader of the House.
12        (b)  On  or  before the 11th and 21st days of each of the
13    months of June, 1982 through July, 1983, at a time  or  times
14    designated by the Governor, the State Treasurer and the State
15    Comptroller  shall  transfer from the General Revenue Fund to
16    the Common School Fund 1/24 or so  much  thereof  as  may  be
17    necessary  of  the  amount appropriated to the State Board of
18    Education for distribution from such Common School Fund,  for
19    that  same fiscal year, including interest on the School Fund
20    for such year.  The amounts of the payments in the months  of
21    July,  1982 and July, 1983 shall be considered an outstanding
22    liability as of the 30th day of  June  immediately  preceding
23    such  July  payment, within the meaning of Section 25 of this
24    Act, and shall be payable  from  the  appropriation  for  the
25    fiscal  year  which  ended on such 30th day of June, and such
26    July  payments  shall  be  considered  payments  for   claims
27    covering school years 1981-1982 and 1982-1983 respectively.
28        In  the  event  the Governor makes notification to effect
29    advanced distribution under the provisions of subsection  (a)
30    of  this  Section,  the aggregate amount transferred from the
31    General Revenue Fund to the Common  School  Fund  in  the  12
32    months  beginning  August  1, 1981 or the 12 months beginning
33    August 1, 1982 shall not be in excess of the amount necessary
34    for payment of claims certified by the  State  Superintendent
 
                            -10-     LRB093 05674 LRD 20215 a
 1    of  Education  pursuant  to  the  appropriation of the Common
 2    School Fund for the fiscal years commencing on the  first  of
 3    July of the years 1981 and 1982.
 4    (Source:  P.A.  90-372,  eff.  7-1-98;  90-587,  eff. 7-1-98;
 5    91-96, eff. 7-9-99.)

 6        (30 ILCS 105/14.1) (from Ch. 127, par. 150.1)
 7        Sec. 14.1. Appropriations for State contributions to  the
 8    State Employees' Retirement System; payroll requirements.
 9        (a)  Appropriations  for State contributions to the State
10    Employees' Retirement System of Illinois shall be expended in
11    the manner provided in  this  Section.  Except  as  otherwise
12    provided in subsection (a-1),  at the time of each payment of
13    salary  to an employee under the personal services line item,
14    payment shall be made  to  the  State  Employees'  Retirement
15    System,  from the amount appropriated for State contributions
16    to the State  Employees'  Retirement  System,  of  an  amount
17    calculated  at  the  rate certified for the applicable fiscal
18    year by  the  Board  of  Trustees  of  the  State  Employees'
19    Retirement  System  under  Section  14-135.08 of the Illinois
20    Pension Code.  If a line item appropriation  to  an  employer
21    for  this  purpose  is  unavailable or exhausted, the amounts
22    shall be paid under the  continuing  appropriation  for  this
23    purpose  contained  in  the  State  Pension  Funds Continuing
24    Appropriation Act.
25        (a-1)  Beginning on the effective date of this amendatory
26    Act of the 93rd General Assembly through the payment  of  the
27    final   payroll   from   fiscal   year  2004  appropriations,
28    appropriations  for  State   contributions   to   the   State
29    Employees' Retirement System of Illinois shall be expended in
30    the  manner provided in this subsection (a-1). At the time of
31    each payment of salary to  an  employee  under  the  personal
32    services line item from a fund other than the General Revenue
33    Fund,  payment  shall  be  made  for deposit into the General
 
                            -11-     LRB093 05674 LRD 20215 a
 1    Revenue  Fund  from  the  amount   appropriated   for   State
 2    contributions to the State Employees' Retirement System of an
 3    amount  calculated at the rate certified for fiscal year 2004
 4    by the Board of Trustees of the State  Employees'  Retirement
 5    System  under Section 14-135.08 of the Illinois Pension Code.
 6    This payment shall be made to the extent  that  a  line  item
 7    appropriation to an employer for this purpose is available or
 8    unexhausted.   No   payment  from  appropriations  for  State
 9    contributions shall be made in conjunction  with  payment  of
10    salary  to  an employee under the personal services line item
11    from the General Revenue Fund.
12        (b)  Except during the period beginning on the  effective
13    date  of this amendatory Act of the 93rd General Assembly and
14    ending at the time of the payment of the final  payroll  from
15    fiscal  year 2004 appropriations, the State Comptroller shall
16    not approve for payment any payroll voucher that (1) includes
17    payments  of  salary  to  eligible  employees  in  the  State
18    Employees' Retirement System of Illinois  and  (2)  does  not
19    include  the  corresponding payment of State contributions to
20    that retirement system  at  the  full  rate  certified  under
21    Section   14-135.08   for   that  fiscal  year  for  eligible
22    employees, unless the  balance  in  the  fund  on  which  the
23    payroll  voucher  is  drawn  is insufficient to pay the total
24    payroll voucher.  If the State Comptroller approves a payroll
25    voucher under this Section for  which  the  fund  balance  is
26    insufficient  to  pay  the  full amount of the required State
27    contribution to the State Employees' Retirement  System,  the
28    Comptroller shall promptly so notify the Retirement System.
29    (Source: P.A. 88-593, eff. 8-22-94; 89-136, eff. 7-14-95.)

30        Section  10.   The General Obligation Bond Act is amended
31    by changing Section 7.2 as follows:

32        (30 ILCS 330/7.2)
 
                            -12-     LRB093 05674 LRD 20215 a
 1        Sec. 7.2. State pension funding.
 2        (a)  The amount of $10,000,000,000 is  authorized  to  be
 3    used   for   the  purpose  of  making  contributions  to  the
 4    designated retirement systems.   For  the  purposes  of  this
 5    Section,  "designated  retirement  systems"  means  the State
 6    Employees'  Retirement  System  of  Illinois;  the  Teachers'
 7    Retirement  System  of  the  State  of  Illinois;  the  State
 8    Universities Retirement System; the Judges Retirement  System
 9    of Illinois; and the General Assembly Retirement System.
10        (b)  The  Pension  Contribution  Fund  is  created  as  a
11    special fund in the State Treasury.
12        The  proceeds  of the additional $10,000,000,000 of Bonds
13    authorized  by  this  amendatory  Act  of  the  93rd  General
14    Assembly, less the amounts authorized in the Bond Sale  Order
15    to  be  deposited  directly  into  the  capitalized  interest
16    account   of  the  General  Obligation  Bond  Retirement  and
17    Interest Fund or otherwise directly paid out  for  bond  sale
18    expenses under Section 8, shall be deposited into the Pension
19    Contribution Fund and used as provided in this Section.
20        (c)  Of  the amount of Bond proceeds first deposited into
21    the Pension Contribution Fund, there shall  be  reserved  for
22    transfers  under  this  subsection  the  sum of $300,000,000,
23    representing  the  required  State   contributions   to   the
24    designated  retirement  systems for the last quarter of State
25    fiscal  year  2003,   plus   the   sum   of   $1,860,000,000,
26    representing   the   required   State  contributions  to  the
27    designated retirement systems for State fiscal year 2004.
28        Upon the deposit of sufficient moneys  into  the  Pension
29    Contribution   Fund,  the  Comptroller  and  Treasurer  shall
30    immediately transfer the sum of $300,000,000 from the Pension
31    Contribution Fund to the General Revenue Fund.
32        Whenever any payment of required State contributions  for
33    State  fiscal  year  2004  is  made  to one of the designated
34    retirement systems, the Comptroller and Treasurer  shall,  as
 
                            -13-     LRB093 05674 LRD 20215 a
 1    soon  as  practicable, transfer from the Pension Contribution
 2    Fund to the General Revenue  Fund  an  amount  equal  to  the
 3    amount  of  that payment to the designated retirement system.
 4    Beginning on the effective date of this amendatory Act of the
 5    93rd  General  Assembly,  the  transfers  from  the   Pension
 6    Contribution  Fund  to  the  General  Revenue  Fund  shall be
 7    suspended until June 30, 2004, and the remaining  balance  in
 8    the  Pension  Contribution Fund shall be transferred directly
 9    to the designated retirement systems as provided  in  Section
10    6z-61 of the State Finance Act. On and after July 1, 2004, in
11    the  event  that  any  amount  is  on  deposit in the Pension
12    Contribution Fund from time to time If  the  amount  reserved
13    for  these  transfers exceeds the total amount of fiscal year
14    2004  payments  of  required  State  contributions   to   the
15    designated  retirement systems, the Comptroller and Treasurer
16    shall continue to make such transfers based  on  fiscal  year
17    2005 payments until the entire amount on deposit reserved has
18    been transferred.
19        (d)  All  amounts deposited into the Pension Contribution
20    Fund, other than the amounts reserved for the transfers under
21    subsection (c),  shall  be  appropriated  to  the  designated
22    retirement   systems   to   reduce  their  actuarial  reserve
23    deficiencies.   The  amount  of  the  appropriation  to  each
24    designated retirement system shall constitute  a  portion  of
25    the  total  appropriation  under  this subsection that is the
26    same  as  that  retirement  system's  portion  of  the  total
27    actuarial reserve deficiency of the systems, as most recently
28    determined by the Governor's Office of Management and  Budget
29    Bureau  of the Budget under Section 8.12 of the State Finance
30    Act.
31        Within 15 days after any Bond proceeds in excess  of  the
32    amounts initially reserved under subsection (c) are deposited
33    into  the Pension Contribution Fund, the Governor's Office of
34    Management and Budget Bureau of the Budget shall (i) allocate
 
                            -14-     LRB093 05674 LRD 20215 a
 1    those proceeds among the  designated  retirement  systems  in
 2    proportion    to    their    respective   actuarial   reserve
 3    deficiencies, as most recently determined under Section  8.12
 4    of  the State Finance Act, and (ii) certify those allocations
 5    to the designated retirement systems and the Comptroller.
 6        Upon receiving certification of an allocation under  this
 7    subsection,  a  designated  retirement system shall submit to
 8    the Comptroller a voucher for the amount of  its  allocation.
 9    The  voucher  shall be paid out of the amount appropriated to
10    that  designated   retirement   system   from   the   Pension
11    Contribution Fund pursuant to this subsection.
12    (Source: P.A. 93-2, eff. 4-7-03; revised 8-23-03.)

13        Section  15.   The  Illinois  Pension  Code is amended by
14    changing Sections 2-134, 14-131, 16-158, 15-165,  and  18-140
15    as follows:

16        (40 ILCS 5/2-134) (from Ch. 108 1/2, par. 2-134)
17        Sec.  2-134.  To certify required State contributions and
18    submit vouchers.
19        (a)  The Board shall certify to the Governor on or before
20    November 15 of each year the amount  of  the  required  State
21    contribution  to  the  System  for the next fiscal year.  The
22    certification  shall  include  a  copy   of   the   actuarial
23    recommendations upon which it is based.
24        On or before May 1, 2004, the Board shall recalculate and
25    recertify  to  the  Governor the amount of the required State
26    contribution to the System for State fiscal year 2005, taking
27    into account the amounts appropriated to and received by  the
28    System  under  subsection  (d)  of Section 7.2 of the General
29    Obligation Bond Act.
30        (b)  Beginning in State fiscal year 1996, on or  as  soon
31    as  possible after the 15th day of each month the Board shall
32    submit vouchers for payment of  State  contributions  to  the
 
                            -15-     LRB093 05674 LRD 20215 a
 1    System,  in  a  total  monthly  amount  of one-twelfth of the
 2    required annual State contribution certified under subsection
 3    (a). From the effective date of this amendatory  Act  of  the
 4    93rd  General Assembly through June 30, 2004, the Board shall
 5    not submit vouchers for the remainder of fiscal year 2004  in
 6    excess  of the fiscal year 2004 certified contribution amount
 7    determined under this Section after taking into consideration
 8    the transfer to the System under subsection  (d)  of  Section
 9    6z-61  of the State Finance Act. These vouchers shall be paid
10    by the State Comptroller and Treasurer by warrants  drawn  on
11    the  funds  appropriated  to the System for that fiscal year.
12    If in any month the  amount  remaining  unexpended  from  all
13    other  appropriations to the System for the applicable fiscal
14    year  (including  the  appropriations  to  the  System  under
15    Section 8.12 of the State Finance Act and Section  1  of  the
16    State  Pension  Funds  Continuing  Appropriation Act) is less
17    than the amount lawfully vouchered under  this  Section,  the
18    difference  shall be paid from the General Revenue Fund under
19    the continuing appropriation authority  provided  in  Section
20    1.1 of the State Pension Funds Continuing Appropriation Act.
21        (c)  The  full amount of any annual appropriation for the
22    System for State fiscal year 1995 shall  be  transferred  and
23    made  available to the System at the beginning of that fiscal
24    year at the request of the Board.  Any excess funds remaining
25    at the end of any fiscal year from  appropriations  shall  be
26    retained  by  the  System  as  a  general reserve to meet the
27    System's accrued liabilities.
28    (Source: P.A. 93-2, eff. 4-7-03.)

29        (40 ILCS 5/14-131) (from Ch. 108 1/2, par. 14-131)
30        Sec. 14-131. Contributions by State.
31        (a)  The State shall make contributions to the System  by
32    appropriations of amounts which, together with other employer
33    contributions  from trust, federal, and other funds, employee
 
                            -16-     LRB093 05674 LRD 20215 a
 1    contributions, investment income, and other income,  will  be
 2    sufficient  to meet the cost of maintaining and administering
 3    the System on a 90% funded basis in accordance with actuarial
 4    recommendations.
 5        For the purposes of this Section and  Section  14-135.08,
 6    references  to  State  contributions  refer  only to employer
 7    contributions and do not include employee contributions  that
 8    are  picked up or otherwise paid by the State or a department
 9    on behalf of the employee.
10        (b)  The Board shall determine the total amount of  State
11    contributions  required  for each fiscal year on the basis of
12    the actuarial tables and other  assumptions  adopted  by  the
13    Board, using the formula in subsection (e).
14        The  Board shall also determine a State contribution rate
15    for each fiscal year, expressed as a percentage  of  payroll,
16    based  on  the  total  required  State  contribution for that
17    fiscal year (less the amount  received  by  the  System  from
18    appropriations  under  Section  8.12 of the State Finance Act
19    and  Section  1  of  the  State  Pension   Funds   Continuing
20    Appropriation  Act, if any, for the fiscal year ending on the
21    June 30 immediately  preceding  the  applicable  November  15
22    certification deadline), the estimated payroll (including all
23    forms  of  compensation)  for  personal  services rendered by
24    eligible employees, and the recommendations of the actuary.
25        For the purposes of this Section and Section 14.1 of  the
26    State  Finance  Act,  the  term "eligible employees" includes
27    employees who participate in  the  System,  persons  who  may
28    elect  to  participate in the System but have not so elected,
29    persons who are serving a qualifying period that is  required
30    for participation, and annuitants employed by a department as
31    described in subdivision (a)(1) or (a)(2) of Section 14-111.
32        (c)  Contributions   shall   be   made   by  the  several
33    departments for each pay period  by  warrants  drawn  by  the
34    State   Comptroller   against   their   respective  funds  or
 
                            -17-     LRB093 05674 LRD 20215 a
 1    appropriations based upon vouchers stating the amount  to  be
 2    so  contributed.   These  amounts  shall be based on the full
 3    rate certified by the Board under Section 14-135.08 for  that
 4    fiscal  year.  From the effective date of this amendatory Act
 5    of the 93rd General Assembly through the payment of the final
 6    payroll from fiscal year  2004  appropriations,  the  several
 7    departments shall not make contributions for the remainder of
 8    fiscal  year 2004 but shall instead make payments as required
 9    under subsection (a-1) of Section 14.1 of the  State  Finance
10    Act. The several departments shall resume those contributions
11    at the commencement of fiscal year 2005.
12        (d)  If  an  employee is paid from trust funds or federal
13    funds, the department or other employer  shall  pay  employer
14    contributions from those funds to the System at the certified
15    rate,  unless  the  terms  of  the trust or the federal-State
16    agreement preclude the use of the funds for that purpose,  in
17    which  case the required employer contributions shall be paid
18    by the State. From the effective date of this amendatory  Act
19    of the 93rd General Assembly through the payment of the final
20    payroll  from fiscal year 2004 appropriations, the department
21    or  other  employer  shall  not  pay  contributions  for  the
22    remainder of fiscal year 2004 but shall instead make payments
23    as required under subsection (a-1) of  Section  14.1  of  the
24    State  Finance  Act.  The  department or other employer shall
25    resume payment of contributions at the commencement of fiscal
26    year 2005.
27        (e)  For  State  fiscal  years  2011  through  2045,  the
28    minimum contribution to the System to be made  by  the  State
29    for  each  fiscal  year  shall be an amount determined by the
30    System to be sufficient to bring  the  total  assets  of  the
31    System  up  to  90% of the total actuarial liabilities of the
32    System by the end of State fiscal year 2045.  In making these
33    determinations, the  required  State  contribution  shall  be
34    calculated  each  year  as a level percentage of payroll over
 
                            -18-     LRB093 05674 LRD 20215 a
 1    the years remaining to and including  fiscal  year  2045  and
 2    shall be determined under the projected unit credit actuarial
 3    cost method.
 4        For  State  fiscal  years  1996  through  2010, the State
 5    contribution to the System, as a percentage of the applicable
 6    employee  payroll,  shall  be  increased  in   equal   annual
 7    increments  so  that  by State fiscal year 2011, the State is
 8    contributing at the rate required under this Section;  except
 9    that (i) for State fiscal year 1998, for all purposes of this
10    Code   and  any  other  law  of  this  State,  the  certified
11    percentage of the applicable employee payroll shall be 5.052%
12    for  employees  earning  eligible  creditable  service  under
13    Section  14-110  and  6.500%   for   all   other   employees,
14    notwithstanding any contrary certification made under Section
15    14-135.08 before the effective date of this amendatory Act of
16    1997, and (ii) in the following specified State fiscal years,
17    the  State  contribution to the System shall not be less than
18    the  following  indicated  percentages  of   the   applicable
19    employee  payroll,  even  if  the  indicated  percentage will
20    produce  a  State  contribution  in  excess  of  the   amount
21    otherwise required under this subsection and subsection (a):
22    9.8% in FY 1999; 10.0% in FY 2000; 10.2% in FY 2001; 10.4% in
23    FY 2002; 10.6% in FY 2003; and 10.8% in FY 2004.
24        Beginning  in  State  fiscal year 2046, the minimum State
25    contribution for each fiscal year shall be the amount  needed
26    to  maintain  the  total  assets  of the System at 90% of the
27    total actuarial liabilities of the System.
28        Notwithstanding any other provision of this Section,  the
29    required  State  contribution  for State fiscal year 2005 and
30    each fiscal year thereafter, as calculated under this Section
31    and certified under Section 14-135.08, shall  not  exceed  an
32    amount  equal  to  (i)  the  amount  of  the  required  State
33    contribution  that  would  have  been  calculated  under this
34    Section for that fiscal year if the System had  not  received
 
                            -19-     LRB093 05674 LRD 20215 a
 1    any  payments  under  subsection  (d)  of  Section 7.2 of the
 2    General Obligation Bond Act, minus (ii) the  portion  of  the
 3    State's  total  debt service payments for that fiscal year on
 4    the bonds issued for the purposes of  that  Section  7.2,  as
 5    determined and certified by the Comptroller, that is the same
 6    as the System's portion of the total moneys distributed under
 7    subsection  (d) of Section 7.2 of the General Obligation Bond
 8    Act.
 9        (f)  After the submission of all  payments  for  eligible
10    employees  from  personal  services line items in fiscal year
11    2004 have been made, the Comptroller  shall  provide  to  the
12    System  a  certification  of  the sum of all fiscal year 2004
13    expenditures for  personal  services  that  would  have  been
14    covered  by  payments to the System under this Section if the
15    provisions  of  this  amendatory  Act  of  the  93rd  General
16    Assembly  had  not  been  enacted.  Upon   receipt   of   the
17    certification,  the  System shall determine the amount due to
18    the System based on the full  rate  certified  by  the  Board
19    under Section 14-135.08 for fiscal year 2004 in order to meet
20    the  State's  obligation under this Section. The System shall
21    compare this amount due to the amount received by the  System
22    in  fiscal  year 2004 through payments under this Section and
23    under Section 6z-61 of the State Finance Act. If  the  amount
24    due is more than the amount received, the difference shall be
25    termed  the "Fiscal Year 2004 Shortfall" for purposes of this
26    Section,  and  the  Fiscal  Year  2004  Shortfall  shall   be
27    satisfied  under  Section  1.2  of  the  State  Pension Funds
28    Continuing Appropriation Act. If the amount due is less  than
29    the  amount  received,  the  difference  shall  be termed the
30    "Fiscal Year 2004 Overpayment" for purposes of this  Section,
31    and  the  Fiscal Year 2004 Overpayment shall be repaid by the
32    System  to  the  Pension  Contribution  Fund   as   soon   as
33    practicable after the certification.
34    (Source: P.A. 93-2, eff. 4-7-03.)
 
                            -20-     LRB093 05674 LRD 20215 a
 1        (40 ILCS 5/16-158) (from Ch. 108 1/2, par. 16-158)
 2        Sec.  16-158.  Contributions by State and other employing
 3    units.
 4        (a)  The State shall make contributions to the System  by
 5    means of appropriations from the Common School Fund and other
 6    State  funds  of  amounts which, together with other employer
 7    contributions, employee contributions, investment income, and
 8    other  income,  will  be  sufficient  to  meet  the  cost  of
 9    maintaining and administering the  System  on  a  90%  funded
10    basis in accordance with actuarial recommendations.
11        The   Board   shall   determine   the   amount  of  State
12    contributions required for each fiscal year on the  basis  of
13    the  actuarial  tables  and  other assumptions adopted by the
14    Board and the  recommendations  of  the  actuary,  using  the
15    formula in subsection (b-3).
16        (a-1)  Annually,  on  or  before  November  15, the Board
17    shall certify to the Governor  the  amount  of  the  required
18    State   contribution   for   the  coming  fiscal  year.   The
19    certification  shall  include  a  copy   of   the   actuarial
20    recommendations upon which it is based.
21        On or before May 1, 2004, the Board shall recalculate and
22    recertify  to  the  Governor the amount of the required State
23    contribution to the System for State fiscal year 2005, taking
24    into account the amounts appropriated to and received by  the
25    System  under  subsection  (d)  of Section 7.2 of the General
26    Obligation Bond Act.
27        (b)  Through  State   fiscal   year   1995,   the   State
28    contributions  shall be paid to the System in accordance with
29    Section 18-7 of the School Code.
30        (b-1)  Beginning in State fiscal year 1996, on  the  15th
31    day   of  each  month,  or  as  soon  thereafter  as  may  be
32    practicable, the Board shall submit vouchers for  payment  of
33    State  contributions to the System, in a total monthly amount
34    of one-twelfth of  the  required  annual  State  contribution
 
                            -21-     LRB093 05674 LRD 20215 a
 1    certified  under subsection (a-1). From the effective date of
 2    this amendatory Act of the 93rd General Assembly through June
 3    30, 2004,  the  Board  shall  not  submit  vouchers  for  the
 4    remainder  of  fiscal  year 2004 in excess of the fiscal year
 5    2004 certified  contribution  amount  determined  under  this
 6    Section  after  taking into consideration the transfer to the
 7    System under subsection (a) of Section  6z-61  of  the  State
 8    Finance  Act.  These  vouchers  shall  be  paid  by the State
 9    Comptroller and Treasurer by  warrants  drawn  on  the  funds
10    appropriated to the System for that fiscal year.
11        If  in any month the amount remaining unexpended from all
12    other appropriations to the System for the applicable  fiscal
13    year  (including  the  appropriations  to  the  System  under
14    Section  8.12  of  the State Finance Act and Section 1 of the
15    State Pension Funds Continuing  Appropriation  Act)  is  less
16    than the amount lawfully vouchered under this subsection, the
17    difference  shall  be  paid from the Common School Fund under
18    the continuing appropriation authority  provided  in  Section
19    1.1 of the State Pension Funds Continuing Appropriation Act.
20        (b-2)  Allocations    from   the   Common   School   Fund
21    apportioned to school districts not coming under this  System
22    shall not be diminished or affected by the provisions of this
23    Article.
24        (b-3)  For  State  fiscal  years  2011  through 2045, the
25    minimum contribution to the System to be made  by  the  State
26    for  each  fiscal  year  shall be an amount determined by the
27    System to be sufficient to bring  the  total  assets  of  the
28    System  up  to  90% of the total actuarial liabilities of the
29    System by the end of State fiscal year 2045.  In making these
30    determinations, the  required  State  contribution  shall  be
31    calculated  each  year  as a level percentage of payroll over
32    the years remaining to and including  fiscal  year  2045  and
33    shall be determined under the projected unit credit actuarial
34    cost method.
 
                            -22-     LRB093 05674 LRD 20215 a
 1        For  State  fiscal  years  1996  through  2010, the State
 2    contribution to the System, as a percentage of the applicable
 3    employee  payroll,  shall  be  increased  in   equal   annual
 4    increments  so  that  by State fiscal year 2011, the State is
 5    contributing at the rate required under this Section;  except
 6    that in the following specified State fiscal years, the State
 7    contribution  to  the  System  shall  not  be  less  than the
 8    following indicated percentages of  the  applicable  employee
 9    payroll,  even  if  the  indicated  percentage will produce a
10    State contribution in excess of the amount otherwise required
11    under this subsection and subsection (a), and notwithstanding
12    any contrary certification made under subsection (a-1) before
13    the effective date of this amendatory Act of 1998:  10.02% in
14    FY 1999; 10.77% in FY 2000; 11.47% in FY 2001; 12.16%  in  FY
15    2002; 12.86% in FY 2003; and 13.56% in FY 2004.
16        Beginning  in  State  fiscal year 2046, the minimum State
17    contribution for each fiscal year shall be the amount  needed
18    to  maintain  the  total  assets  of the System at 90% of the
19    total actuarial liabilities of the System.
20        Notwithstanding any other provision of this Section,  the
21    required  State  contribution  for State fiscal year 2005 and
22    each fiscal year thereafter, as calculated under this Section
23    and certified under subsection (a-1),  shall  not  exceed  an
24    amount  equal  to  (i)  the  amount  of  the  required  State
25    contribution  that  would  have  been  calculated  under this
26    Section for that fiscal year if the System had  not  received
27    any  payments  under  subsection  (d)  of  Section 7.2 of the
28    General Obligation Bond Act, minus (ii) the  portion  of  the
29    State's  total  debt service payments for that fiscal year on
30    the bonds issued for the purposes of  that  Section  7.2,  as
31    determined and certified by the Comptroller, that is the same
32    as the System's portion of the total moneys distributed under
33    subsection  (d) of Section 7.2 of the General Obligation Bond
34    Act.
 
                            -23-     LRB093 05674 LRD 20215 a
 1        (c)  Payment of the required State contributions  and  of
 2    all  pensions, retirement annuities, death benefits, refunds,
 3    and other benefits granted under or assumed by  this  System,
 4    and  all  expenses  in connection with the administration and
 5    operation thereof, are obligations of the State.
 6        If members are paid from special trust or  federal  funds
 7    which  are administered by the employing unit, whether school
 8    district or other unit, the employing unit shall pay  to  the
 9    System  from  such  funds  the full accruing retirement costs
10    based  upon  that  service,  as  determined  by  the  System.
11    Employer contributions, based on salary paid to members  from
12    federal funds, may be forwarded by the distributing agency of
13    the  State  of Illinois to the System prior to allocation, in
14    an  amount   determined   in   accordance   with   guidelines
15    established by such agency and the System.
16        (d)  Effective July 1, 1986, any employer of a teacher as
17    defined  in  paragraph  (8)  of  Section 16-106 shall pay the
18    employer's normal cost of benefits based upon  the  teacher's
19    service, in addition to employee contributions, as determined
20    by   the   System.   Such  employer  contributions  shall  be
21    forwarded monthly in accordance with  guidelines  established
22    by the System.
23        However,  with  respect to benefits granted under Section
24    16-133.4 or 16-133.5 to a teacher as defined in paragraph (8)
25    of Section 16-106, the employer's contribution shall  be  12%
26    (rather  than 20%) of the member's highest annual salary rate
27    for each year of creditable service granted, and the employer
28    shall also pay the required employee contribution  on  behalf
29    of  the  teacher.   For the purposes of Sections 16-133.4 and
30    16-133.5, a teacher as defined in paragraph  (8)  of  Section
31    16-106  who  is  serving  in  that capacity while on leave of
32    absence from another employer under this Article shall not be
33    considered an employee of the employer from which the teacher
34    is on leave.
 
                            -24-     LRB093 05674 LRD 20215 a
 1        (e)  Beginning July 1, 1998, every employer of a  teacher
 2    shall  pay to the System an employer contribution computed as
 3    follows:
 4             (1)  Beginning July 1, 1998 through June  30,  1999,
 5        the  employer contribution shall be equal to 0.3% of each
 6        teacher's salary.
 7             (2)  Beginning July  1,  1999  and  thereafter,  the
 8        employer  contribution  shall  be  equal to 0.58% of each
 9        teacher's salary.
10    The school district or other employing  unit  may  pay  these
11    employer contributions out of any source of funding available
12    for  that  purpose and shall forward the contributions to the
13    System on the schedule established for the payment of  member
14    contributions.
15        These  employer  contributions  are  intended to offset a
16    portion of the  cost  to  the  System  of  the  increases  in
17    retirement  benefits  resulting  from  this amendatory Act of
18    1998.
19        Each employer of teachers is entitled to a credit against
20    the contributions required under  this  subsection  (e)  with
21    respect  to  salaries paid to teachers for the period January
22    1, 2002 through June 30, 2003, equal to the  amount  paid  by
23    that  employer  under  subsection (a-5) of Section 6.6 of the
24    State Employees Group Insurance Act of 1971 with  respect  to
25    salaries paid to teachers for that period.
26        The  additional  1%  employee contribution required under
27    Section  16-152  by  this  amendatory  Act  of  1998  is  the
28    responsibility of the teacher and not the teacher's employer,
29    unless the employer agrees, through collective bargaining  or
30    otherwise, to make the contribution on behalf of the teacher.
31        If an employer is required by a contract in effect on May
32    1,  1998 between the employer and an employee organization to
33    pay, on behalf of all its full-time employees covered by this
34    Article, all mandatory employee contributions required  under
 
                            -25-     LRB093 05674 LRD 20215 a
 1    this  Article, then the employer shall be excused from paying
 2    the employer contribution required under this subsection  (e)
 3    for  the  balance of the term of that contract.  The employer
 4    and the employee organization shall jointly  certify  to  the
 5    System  the existence of the contractual requirement, in such
 6    form as the System may prescribe.  This exclusion shall cease
 7    upon the termination, extension, or renewal of  the  contract
 8    at any time after May 1, 1998.
 9    (Source: P.A. 92-505, eff. 12-20-01; 93-2, eff. 4-7-03.)

10        (40 ILCS 5/15-165) (from Ch. 108 1/2, par. 15-165)
11        Sec. 15-165.  To certify amounts and submit vouchers.
12        (a)  The Board shall certify to the Governor on or before
13    November  15  of  each  year  the appropriation required from
14    State funds for the purposes of this System for the following
15    fiscal year.  The certification shall include a copy  of  the
16    actuarial recommendations upon which it is based.
17        On or before May 1, 2004, the Board shall recalculate and
18    recertify  to  the  Governor the amount of the required State
19    contribution to the System for State fiscal year 2005, taking
20    into account the amounts appropriated to and received by  the
21    System  under  subsection  (d)  of Section 7.2 of the General
22    Obligation Bond Act.
23        (b)  The Board shall certify to the State Comptroller  or
24    employer,  as  the  case  may  be,  from time to time, by its
25    president and secretary, with its seal attached, the  amounts
26    payable to the System from the various funds.
27        (c)  Beginning  in  State fiscal year 1996, on or as soon
28    as possible after the 15th day of each month the Board  shall
29    submit  vouchers  for  payment  of State contributions to the
30    System, in a total  monthly  amount  of  one-twelfth  of  the
31    required annual State contribution certified under subsection
32    (a).  From  the  effective date of this amendatory Act of the
33    93rd General Assembly through June 30, 2004, the Board  shall
 
                            -26-     LRB093 05674 LRD 20215 a
 1    not  submit vouchers for the remainder of fiscal year 2004 in
 2    excess of the fiscal year 2004 certified contribution  amount
 3    determined under this Section after taking into consideration
 4    the  transfer  to  the System under subsection (b) of Section
 5    6z-61 of the State Finance Act. These vouchers shall be  paid
 6    by  the  State Comptroller and Treasurer by warrants drawn on
 7    the funds appropriated to the System for that fiscal year.
 8        If in any month the amount remaining unexpended from  all
 9    other  appropriations to the System for the applicable fiscal
10    year  (including  the  appropriations  to  the  System  under
11    Section 8.12 of the State Finance Act and Section  1  of  the
12    State  Pension  Funds  Continuing  Appropriation Act) is less
13    than the amount lawfully vouchered under  this  Section,  the
14    difference  shall be paid from the General Revenue Fund under
15    the continuing appropriation authority  provided  in  Section
16    1.1 of the State Pension Funds Continuing Appropriation Act.
17        (d)  So long as the payments received are the full amount
18    lawfully  vouchered  under this Section, payments received by
19    the System under this Section shall be applied  first  toward
20    the   employer   contribution   to   the   self-managed  plan
21    established  under  Section  15-158.2.   Payments  shall   be
22    applied  second  toward  the employer's portion of the normal
23    costs of the System, as defined in subsection (f) of  Section
24    15-155.   The  balance  shall  be applied toward the unfunded
25    actuarial liabilities of the System.
26        (e)  In the event that the System does not receive, as  a
27    result   of  legislative  enactment  or  otherwise,  payments
28    sufficient to fully fund the  employer  contribution  to  the
29    self-managed  plan  established under Section 15-158.2 and to
30    fully fund that portion of  the  employer's  portion  of  the
31    normal  costs of the System, as calculated in accordance with
32    Section 15-155(a-1), then  any  payments  received  shall  be
33    applied  proportionately  to  the optional retirement program
34    established under Section  15-158.2  and  to  the  employer's
 
                            -27-     LRB093 05674 LRD 20215 a
 1    portion  of  the normal costs of the System, as calculated in
 2    accordance with Section 15-155(a-1).
 3    (Source: P.A. 93-2, eff. 4-7-03.)

 4        (40 ILCS 5/18-140) (from Ch. 108 1/2, par. 18-140)
 5        Sec. 18-140.  To certify required State contributions and
 6    submit vouchers.
 7        (a)  The Board shall  certify  to  the  Governor,  on  or
 8    before  November  15 of each year, the amount of the required
 9    State contribution to the System  for  the  following  fiscal
10    year.    The  certification  shall  include  a  copy  of  the
11    actuarial recommendations upon which it is based.
12        On or before May 1, 2004, the Board shall recalculate and
13    recertify to the Governor the amount of  the  required  State
14    contribution to the System for State fiscal year 2005, taking
15    into  account the amounts appropriated to and received by the
16    System under subsection (d) of Section  7.2  of  the  General
17    Obligation Bond Act.
18        (b)  Beginning  in  State fiscal year 1996, on or as soon
19    as possible after the 15th day of each month the Board  shall
20    submit  vouchers  for  payment  of State contributions to the
21    System, in a total  monthly  amount  of  one-twelfth  of  the
22    required annual State contribution certified under subsection
23    (a).  From  the  effective date of this amendatory Act of the
24    93rd General Assembly through June 30, 2004, the Board  shall
25    not  submit vouchers for the remainder of fiscal year 2004 in
26    excess of the fiscal year 2004 certified contribution  amount
27    determined under this Section after taking into consideration
28    the  transfer  to  the System under subsection (c) of Section
29    6z-61 of the State Finance Act. These vouchers shall be  paid
30    by  the  State Comptroller and Treasurer by warrants drawn on
31    the funds appropriated to the System for that fiscal year.
32        If in any month the amount remaining unexpended from  all
33    other  appropriations to the System for the applicable fiscal
 
                            -28-     LRB093 05674 LRD 20215 a
 1    year  (including  the  appropriations  to  the  System  under
 2    Section 8.12 of the State Finance Act and Section  1  of  the
 3    State  Pension  Funds  Continuing  Appropriation Act) is less
 4    than the amount lawfully vouchered under  this  Section,  the
 5    difference  shall be paid from the General Revenue Fund under
 6    the continuing appropriation authority  provided  in  Section
 7    1.1 of the State Pension Funds Continuing Appropriation Act.
 8    (Source: P.A. 93-2, eff. 4-7-03.)

 9        Section   20.    The   State   Pension  Funds  Continuing
10    Appropriation Act is  amended  by  changing  Section  1.2  as
11    follows:

12        (40 ILCS 15/1.2)
13        Sec.   1.2.   Appropriations  for  the  State  Employees'
14    Retirement System.
15        (a)  From each fund from which an amount is  appropriated
16    for personal services to a department or other employer under
17    Article  14  of  the  Illinois  Pension Code, there is hereby
18    appropriated to that  department  or  other  employer,  on  a
19    continuing  annual  basis  for  each  State  fiscal  year, an
20    additional amount equal to the amount, if any, by  which  (1)
21    an  amount  equal  to the percentage of the personal services
22    line item for that department or employer from that fund  for
23    that  fiscal  year  that  the  Board of Trustees of the State
24    Employees' Retirement System of Illinois has certified  under
25    Section   14-135.08  of  the  Illinois  Pension  Code  to  be
26    necessary to meet the State's obligation under Section 14-131
27    of the Illinois Pension Code for that  fiscal  year,  exceeds
28    (2)  the amounts otherwise appropriated to that department or
29    employer from that fund for State contributions to the  State
30    Employees'  Retirement  System for that fiscal year. From the
31    effective date of this amendatory Act  of  the  93rd  General
32    Assembly  through  the  final  payment  from  a department or
 
                            -29-     LRB093 05674 LRD 20215 a
 1    employer's personal services line item for fiscal year  2004,
 2    payments  to  the  State  Employees'  Retirement  System that
 3    otherwise would have been  made  under  this  subsection  (a)
 4    shall be governed by the provisions in subsection (a-1).
 5        (a-1)  If a Fiscal Year 2004 Shortfall is certified under
 6    subsection  (f)  of  Section  14-131  of the Illinois Pension
 7    Code, there is hereby appropriated to  the  State  Employees'
 8    Retirement  System of Illinois on a continuing basis from the
 9    General Revenue Fund an additional aggregate amount equal  to
10    the Fiscal Year 2004 Shortfall.
11        (b)  The  continuing  appropriations provided for by this
12    Section shall first be available in State fiscal year 1996.
13    (Source: P.A. 88-593, eff. 8-22-94.)

14        Section 99.  Effective date.  This Act takes effect  upon
15    becoming law.".