Personnel and Pensions Committee

Filed: 1/10/2011

 

 


 

 


 
09600SB1858ham002LRB096 06188 JDS 44862 a

1
AMENDMENT TO SENATE BILL 1858

2    AMENDMENT NO. ______. Amend Senate Bill 1858, AS AMENDED,
3by replacing everything after the enacting clause with the
4following:
 
5    "Section 5. If and only if Senate Bill 3514 (as amended by
6House Amendments Nos. 3, 4, and 5) becomes law, the Illinois
7Pension Code is amended by changing Sections 2-124, 2-134,
814-131, 14-135.08, 15-155, 15-165, 16-158, 18-131, and 18-140
9as follows:
 
10    (40 ILCS 5/2-124)  (from Ch. 108 1/2, par. 2-124)
11    Sec. 2-124. Contributions by State.
12    (a) The State shall make contributions to the System by
13appropriations of amounts which, together with the
14contributions of participants, interest earned on investments,
15and other income will meet the cost of maintaining and
16administering the System on a 90% funded basis in accordance

 

 

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1with actuarial recommendations.
2    (b) The Board shall determine the amount of State
3contributions required for each fiscal year on the basis of the
4actuarial tables and other assumptions adopted by the Board and
5the prescribed rate of interest, using the formula in
6subsection (c).
7    (c) For State fiscal years 2012 through 2045, the minimum
8contribution to the System to be made by the State for each
9fiscal year shall be an amount determined by the System to be
10sufficient to bring the total assets of the System up to 90% of
11the total actuarial liabilities of the System by the end of
12State fiscal year 2045. In making these determinations, the
13required State contribution shall be calculated each year as a
14level percentage of payroll over the years remaining to and
15including fiscal year 2045 and shall be determined under the
16projected unit credit actuarial cost method.
17    For State fiscal years 1996 through 2005, the State
18contribution to the System, as a percentage of the applicable
19employee payroll, shall be increased in equal annual increments
20so that by State fiscal year 2011, the State is contributing at
21the rate required under this Section.
22    Notwithstanding any other provision of this Article, the
23total required State contribution for State fiscal year 2006 is
24$4,157,000.
25    Notwithstanding any other provision of this Article, the
26total required State contribution for State fiscal year 2007 is

 

 

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1$5,220,300.
2    For each of State fiscal years 2008 through 2009, the State
3contribution to the System, as a percentage of the applicable
4employee payroll, shall be increased in equal annual increments
5from the required State contribution for State fiscal year
62007, so that by State fiscal year 2011, the State is
7contributing at the rate otherwise required under this Section.
8    Notwithstanding any other provision of this Article, the
9total required State contribution for State fiscal year 2010 is
10$10,454,000 and shall be made from the proceeds of bonds sold
11in fiscal year 2010 pursuant to Section 7.2 of the General
12Obligation Bond Act, less (i) the pro rata share of bond sale
13expenses determined by the System's share of total bond
14proceeds, (ii) any amounts received from the General Revenue
15Fund in fiscal year 2010, and (iii) any reduction in bond
16proceeds due to the issuance of discounted bonds, if
17applicable.
18    Notwithstanding any other provision of this Article, the
19total required State contribution for State fiscal year 2011 is
20the amount recertified by the System on or before April 1, 2011
21June 15, 2010 pursuant to Section 2-134 and shall be made from
22the proceeds of bonds sold in fiscal year 2011 pursuant to
23Section 7.2 of the General Obligation Bond Act, less (i) the
24pro rata share of bond sale expenses determined by the System's
25share of total bond proceeds, (ii) any amounts received from
26the General Revenue Fund in fiscal year 2011, and (iii) any

 

 

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1reduction in bond proceeds due to the issuance of discounted
2bonds, if applicable.
3    Beginning in State fiscal year 2046, the minimum State
4contribution for each fiscal year shall be the amount needed to
5maintain the total assets of the System at 90% of the total
6actuarial liabilities of the System.
7    Amounts received by the System pursuant to Section 25 of
8the Budget Stabilization Act or Section 8.12 of the State
9Finance Act in any fiscal year do not reduce and do not
10constitute payment of any portion of the minimum State
11contribution required under this Article in that fiscal year.
12Such amounts shall not reduce, and shall not be included in the
13calculation of, the required State contributions under this
14Article in any future year until the System has reached a
15funding ratio of at least 90%. A reference in this Article to
16the "required State contribution" or any substantially similar
17term does not include or apply to any amounts payable to the
18System under Section 25 of the Budget Stabilization Act.
19    Notwithstanding any other provision of this Section, the
20required State contribution for State fiscal year 2005 and for
21fiscal year 2008 and each fiscal year thereafter, as calculated
22under this Section and certified under Section 2-134, shall not
23exceed an amount equal to (i) the amount of the required State
24contribution that would have been calculated under this Section
25for that fiscal year if the System had not received any
26payments under subsection (d) of Section 7.2 of the General

 

 

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1Obligation Bond Act, minus (ii) the portion of the State's
2total debt service payments for that fiscal year on the bonds
3issued for the purposes of that Section 7.2, as determined and
4certified by the Comptroller, that is the same as the System's
5portion of the total moneys distributed under subsection (d) of
6Section 7.2 of the General Obligation Bond Act. In determining
7this maximum for State fiscal years 2008 through 2010, however,
8the amount referred to in item (i) shall be increased, as a
9percentage of the applicable employee payroll, in equal
10increments calculated from the sum of the required State
11contribution for State fiscal year 2007 plus the applicable
12portion of the State's total debt service payments for fiscal
13year 2007 on the bonds issued for the purposes of Section 7.2
14of the General Obligation Bond Act, so that, by State fiscal
15year 2011, the State is contributing at the rate otherwise
16required under this Section.
17    (d) For purposes of determining the required State
18contribution to the System, the value of the System's assets
19shall be equal to the actuarial value of the System's assets,
20which shall be calculated as follows:
21    As of June 30, 2008, the actuarial value of the System's
22assets shall be equal to the market value of the assets as of
23that date. In determining the actuarial value of the System's
24assets for fiscal years after June 30, 2008, any actuarial
25gains or losses from investment return incurred in a fiscal
26year shall be recognized in equal annual amounts over the

 

 

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15-year period following that fiscal year.
2    (e) For purposes of determining the required State
3contribution to the system for a particular year, the actuarial
4value of assets shall be assumed to earn a rate of return equal
5to the system's actuarially assumed rate of return.
6(Source: P.A. 95-950, eff. 8-29-08; 96-43, eff. 7-15-09;
709600SB3514ham003.)
 
8    (40 ILCS 5/2-134)   (from Ch. 108 1/2, par. 2-134)
9    Sec. 2-134. To certify required State contributions and
10submit vouchers.
11    (a) The Board shall certify to the Governor on or before
12December 15 of each year the amount of the required State
13contribution to the System for the next fiscal year. The
14certification shall include a copy of the actuarial
15recommendations upon which it is based.
16    On or before May 1, 2004, the Board shall recalculate and
17recertify to the Governor the amount of the required State
18contribution to the System for State fiscal year 2005, taking
19into account the amounts appropriated to and received by the
20System under subsection (d) of Section 7.2 of the General
21Obligation Bond Act.
22    On or before July 1, 2005, the Board shall recalculate and
23recertify to the Governor the amount of the required State
24contribution to the System for State fiscal year 2006, taking
25into account the changes in required State contributions made

 

 

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1by this amendatory Act of the 94th General Assembly.
2    On or before April 1, 2011 June 15, 2010, the Board shall
3recalculate and recertify to the Governor the amount of the
4required State contribution to the System for State fiscal year
52011, applying the changes made by Public Act 96-889 to the
6System's assets and liabilities as of June 30, 2009 as though
7Public Act 96-889 was approved on that date.
8    (b) Beginning in State fiscal year 1996, on or as soon as
9possible after the 15th day of each month the Board shall
10submit vouchers for payment of State contributions to the
11System, in a total monthly amount of one-twelfth of the
12required annual State contribution certified under subsection
13(a). From the effective date of this amendatory Act of the 93rd
14General Assembly through June 30, 2004, the Board shall not
15submit vouchers for the remainder of fiscal year 2004 in excess
16of the fiscal year 2004 certified contribution amount
17determined under this Section after taking into consideration
18the transfer to the System under subsection (d) of Section
196z-61 of the State Finance Act. These vouchers shall be paid by
20the State Comptroller and Treasurer by warrants drawn on the
21funds appropriated to the System for that fiscal year. If in
22any month the amount remaining unexpended from all other
23appropriations to the System for the applicable fiscal year
24(including the appropriations to the System under Section 8.12
25of the State Finance Act and Section 1 of the State Pension
26Funds Continuing Appropriation Act) is less than the amount

 

 

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1lawfully vouchered under this Section, the difference shall be
2paid from the General Revenue Fund under the continuing
3appropriation authority provided in Section 1.1 of the State
4Pension Funds Continuing Appropriation Act.
5    (c) The full amount of any annual appropriation for the
6System for State fiscal year 1995 shall be transferred and made
7available to the System at the beginning of that fiscal year at
8the request of the Board. Any excess funds remaining at the end
9of any fiscal year from appropriations shall be retained by the
10System as a general reserve to meet the System's accrued
11liabilities.
12(Source: P.A. 94-4, eff. 6-1-05; 94-536, eff. 8-10-05; 95-331,
13eff. 8-21-07; 09600SB3514ham003.)
 
14    (40 ILCS 5/14-131)
15    Sec. 14-131. Contributions by State.
16    (a) The State shall make contributions to the System by
17appropriations of amounts which, together with other employer
18contributions from trust, federal, and other funds, employee
19contributions, investment income, and other income, will be
20sufficient to meet the cost of maintaining and administering
21the System on a 90% funded basis in accordance with actuarial
22recommendations.
23    For the purposes of this Section and Section 14-135.08,
24references to State contributions refer only to employer
25contributions and do not include employee contributions that

 

 

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1are picked up or otherwise paid by the State or a department on
2behalf of the employee.
3    (b) The Board shall determine the total amount of State
4contributions required for each fiscal year on the basis of the
5actuarial tables and other assumptions adopted by the Board,
6using the formula in subsection (e).
7    The Board shall also determine a State contribution rate
8for each fiscal year, expressed as a percentage of payroll,
9based on the total required State contribution for that fiscal
10year (less the amount received by the System from
11appropriations under Section 8.12 of the State Finance Act and
12Section 1 of the State Pension Funds Continuing Appropriation
13Act, if any, for the fiscal year ending on the June 30
14immediately preceding the applicable November 15 certification
15deadline), the estimated payroll (including all forms of
16compensation) for personal services rendered by eligible
17employees, and the recommendations of the actuary.
18    For the purposes of this Section and Section 14.1 of the
19State Finance Act, the term "eligible employees" includes
20employees who participate in the System, persons who may elect
21to participate in the System but have not so elected, persons
22who are serving a qualifying period that is required for
23participation, and annuitants employed by a department as
24described in subdivision (a)(1) or (a)(2) of Section 14-111.
25    (c) Contributions shall be made by the several departments
26for each pay period by warrants drawn by the State Comptroller

 

 

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1against their respective funds or appropriations based upon
2vouchers stating the amount to be so contributed. These amounts
3shall be based on the full rate certified by the Board under
4Section 14-135.08 for that fiscal year. From the effective date
5of this amendatory Act of the 93rd General Assembly through the
6payment of the final payroll from fiscal year 2004
7appropriations, the several departments shall not make
8contributions for the remainder of fiscal year 2004 but shall
9instead make payments as required under subsection (a-1) of
10Section 14.1 of the State Finance Act. The several departments
11shall resume those contributions at the commencement of fiscal
12year 2005.
13    (c-1) Notwithstanding subsection (c) of this Section, for
14fiscal year 2010 only, contributions by the several departments
15are not required to be made for General Revenue Funds payrolls
16processed by the Comptroller. Payrolls paid by the several
17departments from all other State funds must continue to be
18processed pursuant to subsection (c) of this Section.
19    (c-2) For State fiscal year 2010 only, on or as soon as
20possible after the 15th day of each month the Board shall
21submit vouchers for payment of State contributions to the
22System, in a total monthly amount of one-twelfth of the fiscal
23year 2010 General Revenue Fund appropriation to the System.
24    (d) If an employee is paid from trust funds or federal
25funds, the department or other employer shall pay employer
26contributions from those funds to the System at the certified

 

 

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1rate, unless the terms of the trust or the federal-State
2agreement preclude the use of the funds for that purpose, in
3which case the required employer contributions shall be paid by
4the State. From the effective date of this amendatory Act of
5the 93rd General Assembly through the payment of the final
6payroll from fiscal year 2004 appropriations, the department or
7other employer shall not pay contributions for the remainder of
8fiscal year 2004 but shall instead make payments as required
9under subsection (a-1) of Section 14.1 of the State Finance
10Act. The department or other employer shall resume payment of
11contributions at the commencement of fiscal year 2005.
12    (e) For State fiscal years 2012 through 2045, the minimum
13contribution to the System to be made by the State for each
14fiscal year shall be an amount determined by the System to be
15sufficient to bring the total assets of the System up to 90% of
16the total actuarial liabilities of the System by the end of
17State fiscal year 2045. In making these determinations, the
18required State contribution shall be calculated each year as a
19level percentage of payroll over the years remaining to and
20including fiscal year 2045 and shall be determined under the
21projected unit credit actuarial cost method.
22    For State fiscal years 1996 through 2005, the State
23contribution to the System, as a percentage of the applicable
24employee payroll, shall be increased in equal annual increments
25so that by State fiscal year 2011, the State is contributing at
26the rate required under this Section; except that (i) for State

 

 

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1fiscal year 1998, for all purposes of this Code and any other
2law of this State, the certified percentage of the applicable
3employee payroll shall be 5.052% for employees earning eligible
4creditable service under Section 14-110 and 6.500% for all
5other employees, notwithstanding any contrary certification
6made under Section 14-135.08 before the effective date of this
7amendatory Act of 1997, and (ii) in the following specified
8State fiscal years, the State contribution to the System shall
9not be less than the following indicated percentages of the
10applicable employee payroll, even if the indicated percentage
11will produce a State contribution in excess of the amount
12otherwise required under this subsection and subsection (a):
139.8% in FY 1999; 10.0% in FY 2000; 10.2% in FY 2001; 10.4% in FY
142002; 10.6% in FY 2003; and 10.8% in FY 2004.
15    Notwithstanding any other provision of this Article, the
16total required State contribution to the System for State
17fiscal year 2006 is $203,783,900.
18    Notwithstanding any other provision of this Article, the
19total required State contribution to the System for State
20fiscal year 2007 is $344,164,400.
21    For each of State fiscal years 2008 through 2009, the State
22contribution to the System, as a percentage of the applicable
23employee payroll, shall be increased in equal annual increments
24from the required State contribution for State fiscal year
252007, so that by State fiscal year 2011, the State is
26contributing at the rate otherwise required under this Section.

 

 

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1    Notwithstanding any other provision of this Article, the
2total required State General Revenue Fund contribution for
3State fiscal year 2010 is $723,703,100 and shall be made from
4the proceeds of bonds sold in fiscal year 2010 pursuant to
5Section 7.2 of the General Obligation Bond Act, less (i) the
6pro rata share of bond sale expenses determined by the System's
7share of total bond proceeds, (ii) any amounts received from
8the General Revenue Fund in fiscal year 2010, and (iii) any
9reduction in bond proceeds due to the issuance of discounted
10bonds, if applicable.
11    Notwithstanding any other provision of this Article, the
12total required State General Revenue Fund contribution for
13State fiscal year 2011 is the amount recertified by the System
14on or before April 1, 2011 June 15, 2010 pursuant to Section
1514-135.08 and shall be made from the proceeds of bonds sold in
16fiscal year 2011 pursuant to Section 7.2 of the General
17Obligation Bond Act, less (i) the pro rata share of bond sale
18expenses determined by the System's share of total bond
19proceeds, (ii) any amounts received from the General Revenue
20Fund in fiscal year 2011, and (iii) any reduction in bond
21proceeds due to the issuance of discounted bonds, if
22applicable.
23    Beginning in State fiscal year 2046, the minimum State
24contribution for each fiscal year shall be the amount needed to
25maintain the total assets of the System at 90% of the total
26actuarial liabilities of the System.

 

 

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1    Amounts received by the System pursuant to Section 25 of
2the Budget Stabilization Act or Section 8.12 of the State
3Finance Act in any fiscal year do not reduce and do not
4constitute payment of any portion of the minimum State
5contribution required under this Article in that fiscal year.
6Such amounts shall not reduce, and shall not be included in the
7calculation of, the required State contributions under this
8Article in any future year until the System has reached a
9funding ratio of at least 90%. A reference in this Article to
10the "required State contribution" or any substantially similar
11term does not include or apply to any amounts payable to the
12System under Section 25 of the Budget Stabilization Act.
13    Notwithstanding any other provision of this Section, the
14required State contribution for State fiscal year 2005 and for
15fiscal year 2008 and each fiscal year thereafter, as calculated
16under this Section and certified under Section 14-135.08, shall
17not exceed an amount equal to (i) the amount of the required
18State contribution that would have been calculated under this
19Section for that fiscal year if the System had not received any
20payments under subsection (d) of Section 7.2 of the General
21Obligation Bond Act, minus (ii) the portion of the State's
22total debt service payments for that fiscal year on the bonds
23issued for the purposes of that Section 7.2, as determined and
24certified by the Comptroller, that is the same as the System's
25portion of the total moneys distributed under subsection (d) of
26Section 7.2 of the General Obligation Bond Act. In determining

 

 

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1this maximum for State fiscal years 2008 through 2010, however,
2the amount referred to in item (i) shall be increased, as a
3percentage of the applicable employee payroll, in equal
4increments calculated from the sum of the required State
5contribution for State fiscal year 2007 plus the applicable
6portion of the State's total debt service payments for fiscal
7year 2007 on the bonds issued for the purposes of Section 7.2
8of the General Obligation Bond Act, so that, by State fiscal
9year 2011, the State is contributing at the rate otherwise
10required under this Section.
11    (f) After the submission of all payments for eligible
12employees from personal services line items in fiscal year 2004
13have been made, the Comptroller shall provide to the System a
14certification of the sum of all fiscal year 2004 expenditures
15for personal services that would have been covered by payments
16to the System under this Section if the provisions of this
17amendatory Act of the 93rd General Assembly had not been
18enacted. Upon receipt of the certification, the System shall
19determine the amount due to the System based on the full rate
20certified by the Board under Section 14-135.08 for fiscal year
212004 in order to meet the State's obligation under this
22Section. The System shall compare this amount due to the amount
23received by the System in fiscal year 2004 through payments
24under this Section and under Section 6z-61 of the State Finance
25Act. If the amount due is more than the amount received, the
26difference shall be termed the "Fiscal Year 2004 Shortfall" for

 

 

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1purposes of this Section, and the Fiscal Year 2004 Shortfall
2shall be satisfied under Section 1.2 of the State Pension Funds
3Continuing Appropriation Act. If the amount due is less than
4the amount received, the difference shall be termed the "Fiscal
5Year 2004 Overpayment" for purposes of this Section, and the
6Fiscal Year 2004 Overpayment shall be repaid by the System to
7the Pension Contribution Fund as soon as practicable after the
8certification.
9    (g) For purposes of determining the required State
10contribution to the System, the value of the System's assets
11shall be equal to the actuarial value of the System's assets,
12which shall be calculated as follows:
13    As of June 30, 2008, the actuarial value of the System's
14assets shall be equal to the market value of the assets as of
15that date. In determining the actuarial value of the System's
16assets for fiscal years after June 30, 2008, any actuarial
17gains or losses from investment return incurred in a fiscal
18year shall be recognized in equal annual amounts over the
195-year period following that fiscal year.
20    (h) For purposes of determining the required State
21contribution to the System for a particular year, the actuarial
22value of assets shall be assumed to earn a rate of return equal
23to the System's actuarially assumed rate of return.
24    (i) After the submission of all payments for eligible
25employees from personal services line items paid from the
26General Revenue Fund in fiscal year 2010 have been made, the

 

 

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1Comptroller shall provide to the System a certification of the
2sum of all fiscal year 2010 expenditures for personal services
3that would have been covered by payments to the System under
4this Section if the provisions of this amendatory Act of the
596th General Assembly had not been enacted. Upon receipt of the
6certification, the System shall determine the amount due to the
7System based on the full rate certified by the Board under
8Section 14-135.08 for fiscal year 2010 in order to meet the
9State's obligation under this Section. The System shall compare
10this amount due to the amount received by the System in fiscal
11year 2010 through payments under this Section. If the amount
12due is more than the amount received, the difference shall be
13termed the "Fiscal Year 2010 Shortfall" for purposes of this
14Section, and the Fiscal Year 2010 Shortfall shall be satisfied
15under Section 1.2 of the State Pension Funds Continuing
16Appropriation Act. If the amount due is less than the amount
17received, the difference shall be termed the "Fiscal Year 2010
18Overpayment" for purposes of this Section, and the Fiscal Year
192010 Overpayment shall be repaid by the System to the General
20Revenue Fund as soon as practicable after the certification.
21    (j) After the submission of all payments for eligible
22employees from personal services line items paid from the
23General Revenue Fund in fiscal year 2011 have been made, the
24Comptroller shall provide to the System a certification of the
25sum of all fiscal year 2011 expenditures for personal services
26that would have been covered by payments to the System under

 

 

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1this Section if the provisions of this amendatory Act of the
296th General Assembly had not been enacted. Upon receipt of the
3certification, the System shall determine the amount due to the
4System based on the full rate certified by the Board under
5Section 14-135.08 for fiscal year 2011 in order to meet the
6State's obligation under this Section. The System shall compare
7this amount due to the amount received by the System in fiscal
8year 2011 through payments under this Section. If the amount
9due is more than the amount received, the difference shall be
10termed the "Fiscal Year 2011 Shortfall" for purposes of this
11Section, and the Fiscal Year 2011 Shortfall shall be satisfied
12under Section 1.2 of the State Pension Funds Continuing
13Appropriation Act. If the amount due is less than the amount
14received, the difference shall be termed the "Fiscal Year 2011
15Overpayment" for purposes of this Section, and the Fiscal Year
162011 Overpayment shall be repaid by the System to the General
17Revenue Fund as soon as practicable after the certification.
18(Source: P.A. 95-950, eff. 8-29-08; 96-43, eff. 7-15-09; 96-45,
19eff. 7-15-09; 09600SB3514ham003; 09600SB3514ham005.)
 
20    (40 ILCS 5/14-135.08)  (from Ch. 108 1/2, par. 14-135.08)
21    Sec. 14-135.08. To certify required State contributions.
22    (a) To certify to the Governor and to each department, on
23or before November 15 of each year, the required rate for State
24contributions to the System for the next State fiscal year, as
25determined under subsection (b) of Section 14-131. The

 

 

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1certification to the Governor shall include a copy of the
2actuarial recommendations upon which the rate is based.
3    (b) The certification shall include an additional amount
4necessary to pay all principal of and interest on those general
5obligation bonds due the next fiscal year authorized by Section
67.2(a) of the General Obligation Bond Act and issued to provide
7the proceeds deposited by the State with the System in July
82003, representing deposits other than amounts reserved under
9Section 7.2(c) of the General Obligation Bond Act. For State
10fiscal year 2005, the Board shall make a supplemental
11certification of the additional amount necessary to pay all
12principal of and interest on those general obligation bonds due
13in State fiscal years 2004 and 2005 authorized by Section
147.2(a) of the General Obligation Bond Act and issued to provide
15the proceeds deposited by the State with the System in July
162003, representing deposits other than amounts reserved under
17Section 7.2(c) of the General Obligation Bond Act, as soon as
18practical after the effective date of this amendatory Act of
19the 93rd General Assembly.
20    On or before May 1, 2004, the Board shall recalculate and
21recertify to the Governor and to each department the amount of
22the required State contribution to the System and the required
23rates for State contributions to the System for State fiscal
24year 2005, taking into account the amounts appropriated to and
25received by the System under subsection (d) of Section 7.2 of
26the General Obligation Bond Act.

 

 

09600SB1858ham002- 20 -LRB096 06188 JDS 44862 a

1    On or before July 1, 2005, the Board shall recalculate and
2recertify to the Governor and to each department the amount of
3the required State contribution to the System and the required
4rates for State contributions to the System for State fiscal
5year 2006, taking into account the changes in required State
6contributions made by this amendatory Act of the 94th General
7Assembly.
8    On or before April 1, 2011 June 15, 2010, the Board shall
9recalculate and recertify to the Governor and to each
10department the amount of the required State contribution to the
11System for State fiscal year 2011, applying the changes made by
12Public Act 96-889 to the System's assets and liabilities as of
13June 30, 2009 as though Public Act 96-889 was approved on that
14date.
15(Source: P.A. 93-2, eff. 4-7-03; 93-839, eff. 7-30-04; 94-4,
16eff. 6-1-05; 09600SB3514ham003.)
 
17    (40 ILCS 5/15-155)  (from Ch. 108 1/2, par. 15-155)
18    Sec. 15-155. Employer contributions.
19    (a) The State of Illinois shall make contributions by
20appropriations of amounts which, together with the other
21employer contributions from trust, federal, and other funds,
22employee contributions, income from investments, and other
23income of this System, will be sufficient to meet the cost of
24maintaining and administering the System on a 90% funded basis
25in accordance with actuarial recommendations.

 

 

09600SB1858ham002- 21 -LRB096 06188 JDS 44862 a

1    The Board shall determine the amount of State contributions
2required for each fiscal year on the basis of the actuarial
3tables and other assumptions adopted by the Board and the
4recommendations of the actuary, using the formula in subsection
5(a-1).
6    (a-1) For State fiscal years 2012 through 2045, the minimum
7contribution to the System to be made by the State for each
8fiscal year shall be an amount determined by the System to be
9sufficient to bring the total assets of the System up to 90% of
10the total actuarial liabilities of the System by the end of
11State fiscal year 2045. In making these determinations, the
12required State contribution shall be calculated each year as a
13level percentage of payroll over the years remaining to and
14including fiscal year 2045 and shall be determined under the
15projected unit credit actuarial cost method.
16    For State fiscal years 1996 through 2005, the State
17contribution to the System, as a percentage of the applicable
18employee payroll, shall be increased in equal annual increments
19so that by State fiscal year 2011, the State is contributing at
20the rate required under this Section.
21    Notwithstanding any other provision of this Article, the
22total required State contribution for State fiscal year 2006 is
23$166,641,900.
24    Notwithstanding any other provision of this Article, the
25total required State contribution for State fiscal year 2007 is
26$252,064,100.

 

 

09600SB1858ham002- 22 -LRB096 06188 JDS 44862 a

1    For each of State fiscal years 2008 through 2009, the State
2contribution to the System, as a percentage of the applicable
3employee payroll, shall be increased in equal annual increments
4from the required State contribution for State fiscal year
52007, so that by State fiscal year 2011, the State is
6contributing at the rate otherwise required under this Section.
7    Notwithstanding any other provision of this Article, the
8total required State contribution for State fiscal year 2010 is
9$702,514,000 and shall be made from the State Pensions Fund and
10proceeds of bonds sold in fiscal year 2010 pursuant to Section
117.2 of the General Obligation Bond Act, less (i) the pro rata
12share of bond sale expenses determined by the System's share of
13total bond proceeds, (ii) any amounts received from the General
14Revenue Fund in fiscal year 2010, (iii) any reduction in bond
15proceeds due to the issuance of discounted bonds, if
16applicable.
17    Notwithstanding any other provision of this Article, the
18total required State contribution for State fiscal year 2011 is
19the amount recertified by the System on or before April 1, 2011
20June 15, 2010 pursuant to Section 15-165 and shall be made from
21the State Pensions Fund and proceeds of bonds sold in fiscal
22year 2011 pursuant to Section 7.2 of the General Obligation
23Bond Act, less (i) the pro rata share of bond sale expenses
24determined by the System's share of total bond proceeds, (ii)
25any amounts received from the General Revenue Fund in fiscal
26year 2011, and (iii) any reduction in bond proceeds due to the

 

 

09600SB1858ham002- 23 -LRB096 06188 JDS 44862 a

1issuance of discounted bonds, if applicable.
2    Beginning in State fiscal year 2046, the minimum State
3contribution for each fiscal year shall be the amount needed to
4maintain the total assets of the System at 90% of the total
5actuarial liabilities of the System.
6    Amounts received by the System pursuant to Section 25 of
7the Budget Stabilization Act or Section 8.12 of the State
8Finance Act in any fiscal year do not reduce and do not
9constitute payment of any portion of the minimum State
10contribution required under this Article in that fiscal year.
11Such amounts shall not reduce, and shall not be included in the
12calculation of, the required State contributions under this
13Article in any future year until the System has reached a
14funding ratio of at least 90%. A reference in this Article to
15the "required State contribution" or any substantially similar
16term does not include or apply to any amounts payable to the
17System under Section 25 of the Budget Stabilization Act.
18    Notwithstanding any other provision of this Section, the
19required State contribution for State fiscal year 2005 and for
20fiscal year 2008 and each fiscal year thereafter, as calculated
21under this Section and certified under Section 15-165, shall
22not exceed an amount equal to (i) the amount of the required
23State contribution that would have been calculated under this
24Section for that fiscal year if the System had not received any
25payments under subsection (d) of Section 7.2 of the General
26Obligation Bond Act, minus (ii) the portion of the State's

 

 

09600SB1858ham002- 24 -LRB096 06188 JDS 44862 a

1total debt service payments for that fiscal year on the bonds
2issued for the purposes of that Section 7.2, as determined and
3certified by the Comptroller, that is the same as the System's
4portion of the total moneys distributed under subsection (d) of
5Section 7.2 of the General Obligation Bond Act. In determining
6this maximum for State fiscal years 2008 through 2010, however,
7the amount referred to in item (i) shall be increased, as a
8percentage of the applicable employee payroll, in equal
9increments calculated from the sum of the required State
10contribution for State fiscal year 2007 plus the applicable
11portion of the State's total debt service payments for fiscal
12year 2007 on the bonds issued for the purposes of Section 7.2
13of the General Obligation Bond Act, so that, by State fiscal
14year 2011, the State is contributing at the rate otherwise
15required under this Section.
16    (b) If an employee is paid from trust or federal funds, the
17employer shall pay to the Board contributions from those funds
18which are sufficient to cover the accruing normal costs on
19behalf of the employee. However, universities having employees
20who are compensated out of local auxiliary funds, income funds,
21or service enterprise funds are not required to pay such
22contributions on behalf of those employees. The local auxiliary
23funds, income funds, and service enterprise funds of
24universities shall not be considered trust funds for the
25purpose of this Article, but funds of alumni associations,
26foundations, and athletic associations which are affiliated

 

 

09600SB1858ham002- 25 -LRB096 06188 JDS 44862 a

1with the universities included as employers under this Article
2and other employers which do not receive State appropriations
3are considered to be trust funds for the purpose of this
4Article.
5    (b-1) The City of Urbana and the City of Champaign shall
6each make employer contributions to this System for their
7respective firefighter employees who participate in this
8System pursuant to subsection (h) of Section 15-107. The rate
9of contributions to be made by those municipalities shall be
10determined annually by the Board on the basis of the actuarial
11assumptions adopted by the Board and the recommendations of the
12actuary, and shall be expressed as a percentage of salary for
13each such employee. The Board shall certify the rate to the
14affected municipalities as soon as may be practical. The
15employer contributions required under this subsection shall be
16remitted by the municipality to the System at the same time and
17in the same manner as employee contributions.
18    (c) Through State fiscal year 1995: The total employer
19contribution shall be apportioned among the various funds of
20the State and other employers, whether trust, federal, or other
21funds, in accordance with actuarial procedures approved by the
22Board. State of Illinois contributions for employers receiving
23State appropriations for personal services shall be payable
24from appropriations made to the employers or to the System. The
25contributions for Class I community colleges covering earnings
26other than those paid from trust and federal funds, shall be

 

 

09600SB1858ham002- 26 -LRB096 06188 JDS 44862 a

1payable solely from appropriations to the Illinois Community
2College Board or the System for employer contributions.
3    (d) Beginning in State fiscal year 1996, the required State
4contributions to the System shall be appropriated directly to
5the System and shall be payable through vouchers issued in
6accordance with subsection (c) of Section 15-165, except as
7provided in subsection (g).
8    (e) The State Comptroller shall draw warrants payable to
9the System upon proper certification by the System or by the
10employer in accordance with the appropriation laws and this
11Code.
12    (f) Normal costs under this Section means liability for
13pensions and other benefits which accrues to the System because
14of the credits earned for service rendered by the participants
15during the fiscal year and expenses of administering the
16System, but shall not include the principal of or any
17redemption premium or interest on any bonds issued by the Board
18or any expenses incurred or deposits required in connection
19therewith.
20    (g) If the amount of a participant's earnings for any
21academic year used to determine the final rate of earnings,
22determined on a full-time equivalent basis, exceeds the amount
23of his or her earnings with the same employer for the previous
24academic year, determined on a full-time equivalent basis, by
25more than 6%, the participant's employer shall pay to the
26System, in addition to all other payments required under this

 

 

09600SB1858ham002- 27 -LRB096 06188 JDS 44862 a

1Section and in accordance with guidelines established by the
2System, the present value of the increase in benefits resulting
3from the portion of the increase in earnings that is in excess
4of 6%. This present value shall be computed by the System on
5the basis of the actuarial assumptions and tables used in the
6most recent actuarial valuation of the System that is available
7at the time of the computation. The System may require the
8employer to provide any pertinent information or
9documentation.
10    Whenever it determines that a payment is or may be required
11under this subsection (g), the System shall calculate the
12amount of the payment and bill the employer for that amount.
13The bill shall specify the calculations used to determine the
14amount due. If the employer disputes the amount of the bill, it
15may, within 30 days after receipt of the bill, apply to the
16System in writing for a recalculation. The application must
17specify in detail the grounds of the dispute and, if the
18employer asserts that the calculation is subject to subsection
19(h) or (i) of this Section, must include an affidavit setting
20forth and attesting to all facts within the employer's
21knowledge that are pertinent to the applicability of subsection
22(h) or (i). Upon receiving a timely application for
23recalculation, the System shall review the application and, if
24appropriate, recalculate the amount due.
25    The employer contributions required under this subsection
26(f) may be paid in the form of a lump sum within 90 days after

 

 

09600SB1858ham002- 28 -LRB096 06188 JDS 44862 a

1receipt of the bill. If the employer contributions are not paid
2within 90 days after receipt of the bill, then interest will be
3charged at a rate equal to the System's annual actuarially
4assumed rate of return on investment compounded annually from
5the 91st day after receipt of the bill. Payments must be
6concluded within 3 years after the employer's receipt of the
7bill.
8    (h) This subsection (h) applies only to payments made or
9salary increases given on or after June 1, 2005 but before July
101, 2011. The changes made by Public Act 94-1057 shall not
11require the System to refund any payments received before July
1231, 2006 (the effective date of Public Act 94-1057).
13    When assessing payment for any amount due under subsection
14(g), the System shall exclude earnings increases paid to
15participants under contracts or collective bargaining
16agreements entered into, amended, or renewed before June 1,
172005.
18    When assessing payment for any amount due under subsection
19(g), the System shall exclude earnings increases paid to a
20participant at a time when the participant is 10 or more years
21from retirement eligibility under Section 15-135.
22    When assessing payment for any amount due under subsection
23(g), the System shall exclude earnings increases resulting from
24overload work, including a contract for summer teaching, or
25overtime when the employer has certified to the System, and the
26System has approved the certification, that: (i) in the case of

 

 

09600SB1858ham002- 29 -LRB096 06188 JDS 44862 a

1overloads (A) the overload work is for the sole purpose of
2academic instruction in excess of the standard number of
3instruction hours for a full-time employee occurring during the
4academic year that the overload is paid and (B) the earnings
5increases are equal to or less than the rate of pay for
6academic instruction computed using the participant's current
7salary rate and work schedule; and (ii) in the case of
8overtime, the overtime was necessary for the educational
9mission.
10    When assessing payment for any amount due under subsection
11(g), the System shall exclude any earnings increase resulting
12from (i) a promotion for which the employee moves from one
13classification to a higher classification under the State
14Universities Civil Service System, (ii) a promotion in academic
15rank for a tenured or tenure-track faculty position, or (iii) a
16promotion that the Illinois Community College Board has
17recommended in accordance with subsection (k) of this Section.
18These earnings increases shall be excluded only if the
19promotion is to a position that has existed and been filled by
20a member for no less than one complete academic year and the
21earnings increase as a result of the promotion is an increase
22that results in an amount no greater than the average salary
23paid for other similar positions.
24    (i) When assessing payment for any amount due under
25subsection (g), the System shall exclude any salary increase
26described in subsection (h) of this Section given on or after

 

 

09600SB1858ham002- 30 -LRB096 06188 JDS 44862 a

1July 1, 2011 but before July 1, 2014 under a contract or
2collective bargaining agreement entered into, amended, or
3renewed on or after June 1, 2005 but before July 1, 2011.
4Notwithstanding any other provision of this Section, any
5payments made or salary increases given after June 30, 2014
6shall be used in assessing payment for any amount due under
7subsection (g) of this Section.
8    (j) The System shall prepare a report and file copies of
9the report with the Governor and the General Assembly by
10January 1, 2007 that contains all of the following information:
11        (1) The number of recalculations required by the
12    changes made to this Section by Public Act 94-1057 for each
13    employer.
14        (2) The dollar amount by which each employer's
15    contribution to the System was changed due to
16    recalculations required by Public Act 94-1057.
17        (3) The total amount the System received from each
18    employer as a result of the changes made to this Section by
19    Public Act 94-4.
20        (4) The increase in the required State contribution
21    resulting from the changes made to this Section by Public
22    Act 94-1057.
23    (k) The Illinois Community College Board shall adopt rules
24for recommending lists of promotional positions submitted to
25the Board by community colleges and for reviewing the
26promotional lists on an annual basis. When recommending

 

 

09600SB1858ham002- 31 -LRB096 06188 JDS 44862 a

1promotional lists, the Board shall consider the similarity of
2the positions submitted to those positions recognized for State
3universities by the State Universities Civil Service System.
4The Illinois Community College Board shall file a copy of its
5findings with the System. The System shall consider the
6findings of the Illinois Community College Board when making
7determinations under this Section. The System shall not exclude
8any earnings increases resulting from a promotion when the
9promotion was not submitted by a community college. Nothing in
10this subsection (k) shall require any community college to
11submit any information to the Community College Board.
12    (l) For purposes of determining the required State
13contribution to the System, the value of the System's assets
14shall be equal to the actuarial value of the System's assets,
15which shall be calculated as follows:
16    As of June 30, 2008, the actuarial value of the System's
17assets shall be equal to the market value of the assets as of
18that date. In determining the actuarial value of the System's
19assets for fiscal years after June 30, 2008, any actuarial
20gains or losses from investment return incurred in a fiscal
21year shall be recognized in equal annual amounts over the
225-year period following that fiscal year.
23    (m) For purposes of determining the required State
24contribution to the system for a particular year, the actuarial
25value of assets shall be assumed to earn a rate of return equal
26to the system's actuarially assumed rate of return.

 

 

09600SB1858ham002- 32 -LRB096 06188 JDS 44862 a

1(Source: P.A. 95-331, eff. 8-21-07; 95-950, eff. 8-29-08;
296-43, eff. 7-15-09; 09600SB3514ham003.)
 
3    (40 ILCS 5/15-165)   (from Ch. 108 1/2, par. 15-165)
4    Sec. 15-165. To certify amounts and submit vouchers.
5    (a) The Board shall certify to the Governor on or before
6November 15 of each year the appropriation required from State
7funds for the purposes of this System for the following fiscal
8year. The certification shall include a copy of the actuarial
9recommendations upon which it is based.
10    On or before May 1, 2004, the Board shall recalculate and
11recertify to the Governor the amount of the required State
12contribution to the System for State fiscal year 2005, taking
13into account the amounts appropriated to and received by the
14System under subsection (d) of Section 7.2 of the General
15Obligation Bond Act.
16    On or before July 1, 2005, the Board shall recalculate and
17recertify to the Governor the amount of the required State
18contribution to the System for State fiscal year 2006, taking
19into account the changes in required State contributions made
20by this amendatory Act of the 94th General Assembly.
21    On or before April 1, 2011 June 15, 2010, the Board shall
22recalculate and recertify to the Governor the amount of the
23required State contribution to the System for State fiscal year
242011, applying the changes made by Public Act 96-889 to the
25System's assets and liabilities as of June 30, 2009 as though

 

 

09600SB1858ham002- 33 -LRB096 06188 JDS 44862 a

1Public Act 96-889 was approved on that date.
2    (b) The Board shall certify to the State Comptroller or
3employer, as the case may be, from time to time, by its
4president and secretary, with its seal attached, the amounts
5payable to the System from the various funds.
6    (c) Beginning in State fiscal year 1996, on or as soon as
7possible after the 15th day of each month the Board shall
8submit vouchers for payment of State contributions to the
9System, in a total monthly amount of one-twelfth of the
10required annual State contribution certified under subsection
11(a). From the effective date of this amendatory Act of the 93rd
12General Assembly through June 30, 2004, the Board shall not
13submit vouchers for the remainder of fiscal year 2004 in excess
14of the fiscal year 2004 certified contribution amount
15determined under this Section after taking into consideration
16the transfer to the System under subsection (b) of Section
176z-61 of the State Finance Act. These vouchers shall be paid by
18the State Comptroller and Treasurer by warrants drawn on the
19funds appropriated to the System for that fiscal year.
20    If in any month the amount remaining unexpended from all
21other appropriations to the System for the applicable fiscal
22year (including the appropriations to the System under Section
238.12 of the State Finance Act and Section 1 of the State
24Pension Funds Continuing Appropriation Act) is less than the
25amount lawfully vouchered under this Section, the difference
26shall be paid from the General Revenue Fund under the

 

 

09600SB1858ham002- 34 -LRB096 06188 JDS 44862 a

1continuing appropriation authority provided in Section 1.1 of
2the State Pension Funds Continuing Appropriation Act.
3    (d) So long as the payments received are the full amount
4lawfully vouchered under this Section, payments received by the
5System under this Section shall be applied first toward the
6employer contribution to the self-managed plan established
7under Section 15-158.2. Payments shall be applied second toward
8the employer's portion of the normal costs of the System, as
9defined in subsection (f) of Section 15-155. The balance shall
10be applied toward the unfunded actuarial liabilities of the
11System.
12    (e) In the event that the System does not receive, as a
13result of legislative enactment or otherwise, payments
14sufficient to fully fund the employer contribution to the
15self-managed plan established under Section 15-158.2 and to
16fully fund that portion of the employer's portion of the normal
17costs of the System, as calculated in accordance with Section
1815-155(a-1), then any payments received shall be applied
19proportionately to the optional retirement program established
20under Section 15-158.2 and to the employer's portion of the
21normal costs of the System, as calculated in accordance with
22Section 15-155(a-1).
23(Source: P.A. 93-2, eff. 4-7-03; 93-665, eff. 3-5-04; 94-4,
24eff. 6-1-05; 09600SB3514ham003.)
 
25    (40 ILCS 5/16-158)   (from Ch. 108 1/2, par. 16-158)

 

 

09600SB1858ham002- 35 -LRB096 06188 JDS 44862 a

1    Sec. 16-158. Contributions by State and other employing
2units.
3    (a) The State shall make contributions to the System by
4means of appropriations from the Common School Fund and other
5State funds of amounts which, together with other employer
6contributions, employee contributions, investment income, and
7other income, will be sufficient to meet the cost of
8maintaining and administering the System on a 90% funded basis
9in accordance with actuarial recommendations.
10    The Board shall determine the amount of State contributions
11required for each fiscal year on the basis of the actuarial
12tables and other assumptions adopted by the Board and the
13recommendations of the actuary, using the formula in subsection
14(b-3).
15    (a-1) Annually, on or before November 15, the Board shall
16certify to the Governor the amount of the required State
17contribution for the coming fiscal year. The certification
18shall include a copy of the actuarial recommendations upon
19which it is based.
20    On or before May 1, 2004, the Board shall recalculate and
21recertify to the Governor the amount of the required State
22contribution to the System for State fiscal year 2005, taking
23into account the amounts appropriated to and received by the
24System under subsection (d) of Section 7.2 of the General
25Obligation Bond Act.
26    On or before April 1, 2011 July 1, 2005, the Board shall

 

 

09600SB1858ham002- 36 -LRB096 06188 JDS 44862 a

1recalculate and recertify to the Governor the amount of the
2required State contribution to the System for State fiscal year
32006, taking into account the changes in required State
4contributions made by this amendatory Act of the 94th General
5Assembly.
6    On or before June 15, 2010, the Board shall recalculate and
7recertify to the Governor the amount of the required State
8contribution to the System for State fiscal year 2011, applying
9the changes made by Public Act 96-889 to the System's assets
10and liabilities as of June 30, 2009 as though Public Act 96-889
11was approved on that date.
12    (b) Through State fiscal year 1995, the State contributions
13shall be paid to the System in accordance with Section 18-7 of
14the School Code.
15    (b-1) Beginning in State fiscal year 1996, on the 15th day
16of each month, or as soon thereafter as may be practicable, the
17Board shall submit vouchers for payment of State contributions
18to the System, in a total monthly amount of one-twelfth of the
19required annual State contribution certified under subsection
20(a-1). From the effective date of this amendatory Act of the
2193rd General Assembly through June 30, 2004, the Board shall
22not submit vouchers for the remainder of fiscal year 2004 in
23excess of the fiscal year 2004 certified contribution amount
24determined under this Section after taking into consideration
25the transfer to the System under subsection (a) of Section
266z-61 of the State Finance Act. These vouchers shall be paid by

 

 

09600SB1858ham002- 37 -LRB096 06188 JDS 44862 a

1the State Comptroller and Treasurer by warrants drawn on the
2funds appropriated to the System for that fiscal year.
3    If in any month the amount remaining unexpended from all
4other appropriations to the System for the applicable fiscal
5year (including the appropriations to the System under Section
68.12 of the State Finance Act and Section 1 of the State
7Pension Funds Continuing Appropriation Act) is less than the
8amount lawfully vouchered under this subsection, the
9difference shall be paid from the Common School Fund under the
10continuing appropriation authority provided in Section 1.1 of
11the State Pension Funds Continuing Appropriation Act.
12    (b-2) Allocations from the Common School Fund apportioned
13to school districts not coming under this System shall not be
14diminished or affected by the provisions of this Article.
15    (b-3) For State fiscal years 2012 through 2045, the minimum
16contribution to the System to be made by the State for each
17fiscal year shall be an amount determined by the System to be
18sufficient to bring the total assets of the System up to 90% of
19the total actuarial liabilities of the System by the end of
20State fiscal year 2045. In making these determinations, the
21required State contribution shall be calculated each year as a
22level percentage of payroll over the years remaining to and
23including fiscal year 2045 and shall be determined under the
24projected unit credit actuarial cost method.
25    For State fiscal years 1996 through 2005, the State
26contribution to the System, as a percentage of the applicable

 

 

09600SB1858ham002- 38 -LRB096 06188 JDS 44862 a

1employee payroll, shall be increased in equal annual increments
2so that by State fiscal year 2011, the State is contributing at
3the rate required under this Section; except that in the
4following specified State fiscal years, the State contribution
5to the System shall not be less than the following indicated
6percentages of the applicable employee payroll, even if the
7indicated percentage will produce a State contribution in
8excess of the amount otherwise required under this subsection
9and subsection (a), and notwithstanding any contrary
10certification made under subsection (a-1) before the effective
11date of this amendatory Act of 1998: 10.02% in FY 1999; 10.77%
12in FY 2000; 11.47% in FY 2001; 12.16% in FY 2002; 12.86% in FY
132003; and 13.56% in FY 2004.
14    Notwithstanding any other provision of this Article, the
15total required State contribution for State fiscal year 2006 is
16$534,627,700.
17    Notwithstanding any other provision of this Article, the
18total required State contribution for State fiscal year 2007 is
19$738,014,500.
20    For each of State fiscal years 2008 through 2009, the State
21contribution to the System, as a percentage of the applicable
22employee payroll, shall be increased in equal annual increments
23from the required State contribution for State fiscal year
242007, so that by State fiscal year 2011, the State is
25contributing at the rate otherwise required under this Section.
26    Notwithstanding any other provision of this Article, the

 

 

09600SB1858ham002- 39 -LRB096 06188 JDS 44862 a

1total required State contribution for State fiscal year 2010 is
2$2,089,268,000 and shall be made from the proceeds of bonds
3sold in fiscal year 2010 pursuant to Section 7.2 of the General
4Obligation Bond Act, less (i) the pro rata share of bond sale
5expenses determined by the System's share of total bond
6proceeds, (ii) any amounts received from the Common School Fund
7in fiscal year 2010, and (iii) any reduction in bond proceeds
8due to the issuance of discounted bonds, if applicable.
9    Notwithstanding any other provision of this Article, the
10total required State contribution for State fiscal year 2011 is
11the amount recertified by the System on or before April 1, 2011
12June 15, 2010 pursuant to subsection (a-1) of this Section and
13shall be made from the proceeds of bonds sold in fiscal year
142011 pursuant to Section 7.2 of the General Obligation Bond
15Act, less (i) the pro rata share of bond sale expenses
16determined by the System's share of total bond proceeds, (ii)
17any amounts received from the Common School Fund in fiscal year
182011, and (iii) any reduction in bond proceeds due to the
19issuance of discounted bonds, if applicable. This amount shall
20include, in addition to the amount certified by the System, an
21amount necessary to meet employer contributions required by the
22State as an employer under paragraph (e) of this Section, which
23may also be used by the System for contributions required by
24paragraph (a) of Section 16-127.
25    Beginning in State fiscal year 2046, the minimum State
26contribution for each fiscal year shall be the amount needed to

 

 

09600SB1858ham002- 40 -LRB096 06188 JDS 44862 a

1maintain the total assets of the System at 90% of the total
2actuarial liabilities of the System.
3    Amounts received by the System pursuant to Section 25 of
4the Budget Stabilization Act or Section 8.12 of the State
5Finance Act in any fiscal year do not reduce and do not
6constitute payment of any portion of the minimum State
7contribution required under this Article in that fiscal year.
8Such amounts shall not reduce, and shall not be included in the
9calculation of, the required State contributions under this
10Article in any future year until the System has reached a
11funding ratio of at least 90%. A reference in this Article to
12the "required State contribution" or any substantially similar
13term does not include or apply to any amounts payable to the
14System under Section 25 of the Budget Stabilization Act.
15    Notwithstanding any other provision of this Section, the
16required State contribution for State fiscal year 2005 and for
17fiscal year 2008 and each fiscal year thereafter, as calculated
18under this Section and certified under subsection (a-1), shall
19not exceed an amount equal to (i) the amount of the required
20State contribution that would have been calculated under this
21Section for that fiscal year if the System had not received any
22payments under subsection (d) of Section 7.2 of the General
23Obligation Bond Act, minus (ii) the portion of the State's
24total debt service payments for that fiscal year on the bonds
25issued for the purposes of that Section 7.2, as determined and
26certified by the Comptroller, that is the same as the System's

 

 

09600SB1858ham002- 41 -LRB096 06188 JDS 44862 a

1portion of the total moneys distributed under subsection (d) of
2Section 7.2 of the General Obligation Bond Act. In determining
3this maximum for State fiscal years 2008 through 2010, however,
4the amount referred to in item (i) shall be increased, as a
5percentage of the applicable employee payroll, in equal
6increments calculated from the sum of the required State
7contribution for State fiscal year 2007 plus the applicable
8portion of the State's total debt service payments for fiscal
9year 2007 on the bonds issued for the purposes of Section 7.2
10of the General Obligation Bond Act, so that, by State fiscal
11year 2011, the State is contributing at the rate otherwise
12required under this Section.
13    (c) Payment of the required State contributions and of all
14pensions, retirement annuities, death benefits, refunds, and
15other benefits granted under or assumed by this System, and all
16expenses in connection with the administration and operation
17thereof, are obligations of the State.
18    If members are paid from special trust or federal funds
19which are administered by the employing unit, whether school
20district or other unit, the employing unit shall pay to the
21System from such funds the full accruing retirement costs based
22upon that service, as determined by the System. Employer
23contributions, based on salary paid to members from federal
24funds, may be forwarded by the distributing agency of the State
25of Illinois to the System prior to allocation, in an amount
26determined in accordance with guidelines established by such

 

 

09600SB1858ham002- 42 -LRB096 06188 JDS 44862 a

1agency and the System.
2    (d) Effective July 1, 1986, any employer of a teacher as
3defined in paragraph (8) of Section 16-106 shall pay the
4employer's normal cost of benefits based upon the teacher's
5service, in addition to employee contributions, as determined
6by the System. Such employer contributions shall be forwarded
7monthly in accordance with guidelines established by the
8System.
9    However, with respect to benefits granted under Section
1016-133.4 or 16-133.5 to a teacher as defined in paragraph (8)
11of Section 16-106, the employer's contribution shall be 12%
12(rather than 20%) of the member's highest annual salary rate
13for each year of creditable service granted, and the employer
14shall also pay the required employee contribution on behalf of
15the teacher. For the purposes of Sections 16-133.4 and
1616-133.5, a teacher as defined in paragraph (8) of Section
1716-106 who is serving in that capacity while on leave of
18absence from another employer under this Article shall not be
19considered an employee of the employer from which the teacher
20is on leave.
21    (e) Beginning July 1, 1998, every employer of a teacher
22shall pay to the System an employer contribution computed as
23follows:
24        (1) Beginning July 1, 1998 through June 30, 1999, the
25    employer contribution shall be equal to 0.3% of each
26    teacher's salary.

 

 

09600SB1858ham002- 43 -LRB096 06188 JDS 44862 a

1        (2) Beginning July 1, 1999 and thereafter, the employer
2    contribution shall be equal to 0.58% of each teacher's
3    salary.
4The school district or other employing unit may pay these
5employer contributions out of any source of funding available
6for that purpose and shall forward the contributions to the
7System on the schedule established for the payment of member
8contributions.
9    These employer contributions are intended to offset a
10portion of the cost to the System of the increases in
11retirement benefits resulting from this amendatory Act of 1998.
12    Each employer of teachers is entitled to a credit against
13the contributions required under this subsection (e) with
14respect to salaries paid to teachers for the period January 1,
152002 through June 30, 2003, equal to the amount paid by that
16employer under subsection (a-5) of Section 6.6 of the State
17Employees Group Insurance Act of 1971 with respect to salaries
18paid to teachers for that period.
19    The additional 1% employee contribution required under
20Section 16-152 by this amendatory Act of 1998 is the
21responsibility of the teacher and not the teacher's employer,
22unless the employer agrees, through collective bargaining or
23otherwise, to make the contribution on behalf of the teacher.
24    If an employer is required by a contract in effect on May
251, 1998 between the employer and an employee organization to
26pay, on behalf of all its full-time employees covered by this

 

 

09600SB1858ham002- 44 -LRB096 06188 JDS 44862 a

1Article, all mandatory employee contributions required under
2this Article, then the employer shall be excused from paying
3the employer contribution required under this subsection (e)
4for the balance of the term of that contract. The employer and
5the employee organization shall jointly certify to the System
6the existence of the contractual requirement, in such form as
7the System may prescribe. This exclusion shall cease upon the
8termination, extension, or renewal of the contract at any time
9after May 1, 1998.
10    (f) If the amount of a teacher's salary for any school year
11used to determine final average salary exceeds the member's
12annual full-time salary rate with the same employer for the
13previous school year by more than 6%, the teacher's employer
14shall pay to the System, in addition to all other payments
15required under this Section and in accordance with guidelines
16established by the System, the present value of the increase in
17benefits resulting from the portion of the increase in salary
18that is in excess of 6%. This present value shall be computed
19by the System on the basis of the actuarial assumptions and
20tables used in the most recent actuarial valuation of the
21System that is available at the time of the computation. If a
22teacher's salary for the 2005-2006 school year is used to
23determine final average salary under this subsection (f), then
24the changes made to this subsection (f) by Public Act 94-1057
25shall apply in calculating whether the increase in his or her
26salary is in excess of 6%. For the purposes of this Section,

 

 

09600SB1858ham002- 45 -LRB096 06188 JDS 44862 a

1change in employment under Section 10-21.12 of the School Code
2on or after June 1, 2005 shall constitute a change in employer.
3The System may require the employer to provide any pertinent
4information or documentation. The changes made to this
5subsection (f) by this amendatory Act of the 94th General
6Assembly apply without regard to whether the teacher was in
7service on or after its effective date.
8    Whenever it determines that a payment is or may be required
9under this subsection, the System shall calculate the amount of
10the payment and bill the employer for that amount. The bill
11shall specify the calculations used to determine the amount
12due. If the employer disputes the amount of the bill, it may,
13within 30 days after receipt of the bill, apply to the System
14in writing for a recalculation. The application must specify in
15detail the grounds of the dispute and, if the employer asserts
16that the calculation is subject to subsection (g) or (h) of
17this Section, must include an affidavit setting forth and
18attesting to all facts within the employer's knowledge that are
19pertinent to the applicability of that subsection. Upon
20receiving a timely application for recalculation, the System
21shall review the application and, if appropriate, recalculate
22the amount due.
23    The employer contributions required under this subsection
24(f) may be paid in the form of a lump sum within 90 days after
25receipt of the bill. If the employer contributions are not paid
26within 90 days after receipt of the bill, then interest will be

 

 

09600SB1858ham002- 46 -LRB096 06188 JDS 44862 a

1charged at a rate equal to the System's annual actuarially
2assumed rate of return on investment compounded annually from
3the 91st day after receipt of the bill. Payments must be
4concluded within 3 years after the employer's receipt of the
5bill.
6    (g) This subsection (g) applies only to payments made or
7salary increases given on or after June 1, 2005 but before July
81, 2011. The changes made by Public Act 94-1057 shall not
9require the System to refund any payments received before July
1031, 2006 (the effective date of Public Act 94-1057).
11    When assessing payment for any amount due under subsection
12(f), the System shall exclude salary increases paid to teachers
13under contracts or collective bargaining agreements entered
14into, amended, or renewed before June 1, 2005.
15    When assessing payment for any amount due under subsection
16(f), the System shall exclude salary increases paid to a
17teacher at a time when the teacher is 10 or more years from
18retirement eligibility under Section 16-132 or 16-133.2.
19    When assessing payment for any amount due under subsection
20(f), the System shall exclude salary increases resulting from
21overload work, including summer school, when the school
22district has certified to the System, and the System has
23approved the certification, that (i) the overload work is for
24the sole purpose of classroom instruction in excess of the
25standard number of classes for a full-time teacher in a school
26district during a school year and (ii) the salary increases are

 

 

09600SB1858ham002- 47 -LRB096 06188 JDS 44862 a

1equal to or less than the rate of pay for classroom instruction
2computed on the teacher's current salary and work schedule.
3    When assessing payment for any amount due under subsection
4(f), the System shall exclude a salary increase resulting from
5a promotion (i) for which the employee is required to hold a
6certificate or supervisory endorsement issued by the State
7Teacher Certification Board that is a different certification
8or supervisory endorsement than is required for the teacher's
9previous position and (ii) to a position that has existed and
10been filled by a member for no less than one complete academic
11year and the salary increase from the promotion is an increase
12that results in an amount no greater than the lesser of the
13average salary paid for other similar positions in the district
14requiring the same certification or the amount stipulated in
15the collective bargaining agreement for a similar position
16requiring the same certification.
17    When assessing payment for any amount due under subsection
18(f), the System shall exclude any payment to the teacher from
19the State of Illinois or the State Board of Education over
20which the employer does not have discretion, notwithstanding
21that the payment is included in the computation of final
22average salary.
23    (h) When assessing payment for any amount due under
24subsection (f), the System shall exclude any salary increase
25described in subsection (g) of this Section given on or after
26July 1, 2011 but before July 1, 2014 under a contract or

 

 

09600SB1858ham002- 48 -LRB096 06188 JDS 44862 a

1collective bargaining agreement entered into, amended, or
2renewed on or after June 1, 2005 but before July 1, 2011.
3Notwithstanding any other provision of this Section, any
4payments made or salary increases given after June 30, 2014
5shall be used in assessing payment for any amount due under
6subsection (f) of this Section.
7    (i) The System shall prepare a report and file copies of
8the report with the Governor and the General Assembly by
9January 1, 2007 that contains all of the following information:
10        (1) The number of recalculations required by the
11    changes made to this Section by Public Act 94-1057 for each
12    employer.
13        (2) The dollar amount by which each employer's
14    contribution to the System was changed due to
15    recalculations required by Public Act 94-1057.
16        (3) The total amount the System received from each
17    employer as a result of the changes made to this Section by
18    Public Act 94-4.
19        (4) The increase in the required State contribution
20    resulting from the changes made to this Section by Public
21    Act 94-1057.
22    (j) For purposes of determining the required State
23contribution to the System, the value of the System's assets
24shall be equal to the actuarial value of the System's assets,
25which shall be calculated as follows:
26    As of June 30, 2008, the actuarial value of the System's

 

 

09600SB1858ham002- 49 -LRB096 06188 JDS 44862 a

1assets shall be equal to the market value of the assets as of
2that date. In determining the actuarial value of the System's
3assets for fiscal years after June 30, 2008, any actuarial
4gains or losses from investment return incurred in a fiscal
5year shall be recognized in equal annual amounts over the
65-year period following that fiscal year.
7    (k) For purposes of determining the required State
8contribution to the system for a particular year, the actuarial
9value of assets shall be assumed to earn a rate of return equal
10to the system's actuarially assumed rate of return.
11(Source: P.A. 95-331, eff. 8-21-07; 95-950, eff. 8-29-08;
1296-43, eff. 7-15-09; 09600SB3514ham003.)
 
13    (40 ILCS 5/18-131)  (from Ch. 108 1/2, par. 18-131)
14    Sec. 18-131. Financing; employer contributions.
15    (a) The State of Illinois shall make contributions to this
16System by appropriations of the amounts which, together with
17the contributions of participants, net earnings on
18investments, and other income, will meet the costs of
19maintaining and administering this System on a 90% funded basis
20in accordance with actuarial recommendations.
21    (b) The Board shall determine the amount of State
22contributions required for each fiscal year on the basis of the
23actuarial tables and other assumptions adopted by the Board and
24the prescribed rate of interest, using the formula in
25subsection (c).

 

 

09600SB1858ham002- 50 -LRB096 06188 JDS 44862 a

1    (c) For State fiscal years 2012 through 2045, the minimum
2contribution to the System to be made by the State for each
3fiscal year shall be an amount determined by the System to be
4sufficient to bring the total assets of the System up to 90% of
5the total actuarial liabilities of the System by the end of
6State fiscal year 2045. In making these determinations, the
7required State contribution shall be calculated each year as a
8level percentage of payroll over the years remaining to and
9including fiscal year 2045 and shall be determined under the
10projected unit credit actuarial cost method.
11    For State fiscal years 1996 through 2005, the State
12contribution to the System, as a percentage of the applicable
13employee payroll, shall be increased in equal annual increments
14so that by State fiscal year 2011, the State is contributing at
15the rate required under this Section.
16    Notwithstanding any other provision of this Article, the
17total required State contribution for State fiscal year 2006 is
18$29,189,400.
19    Notwithstanding any other provision of this Article, the
20total required State contribution for State fiscal year 2007 is
21$35,236,800.
22    For each of State fiscal years 2008 through 2009, the State
23contribution to the System, as a percentage of the applicable
24employee payroll, shall be increased in equal annual increments
25from the required State contribution for State fiscal year
262007, so that by State fiscal year 2011, the State is

 

 

09600SB1858ham002- 51 -LRB096 06188 JDS 44862 a

1contributing at the rate otherwise required under this Section.
2    Notwithstanding any other provision of this Article, the
3total required State contribution for State fiscal year 2010 is
4$78,832,000 and shall be made from the proceeds of bonds sold
5in fiscal year 2010 pursuant to Section 7.2 of the General
6Obligation Bond Act, less (i) the pro rata share of bond sale
7expenses determined by the System's share of total bond
8proceeds, (ii) any amounts received from the General Revenue
9Fund in fiscal year 2010, and (iii) any reduction in bond
10proceeds due to the issuance of discounted bonds, if
11applicable.
12    Notwithstanding any other provision of this Article, the
13total required State contribution for State fiscal year 2011 is
14the amount recertified by the System on or before April 1, 2011
15June 15, 2010 pursuant to Section 18-140 and shall be made from
16the proceeds of bonds sold in fiscal year 2011 pursuant to
17Section 7.2 of the General Obligation Bond Act, less (i) the
18pro rata share of bond sale expenses determined by the System's
19share of total bond proceeds, (ii) any amounts received from
20the General Revenue Fund in fiscal year 2011, and (iii) any
21reduction in bond proceeds due to the issuance of discounted
22bonds, if applicable.
23    Beginning in State fiscal year 2046, the minimum State
24contribution for each fiscal year shall be the amount needed to
25maintain the total assets of the System at 90% of the total
26actuarial liabilities of the System.

 

 

09600SB1858ham002- 52 -LRB096 06188 JDS 44862 a

1    Amounts received by the System pursuant to Section 25 of
2the Budget Stabilization Act or Section 8.12 of the State
3Finance Act in any fiscal year do not reduce and do not
4constitute payment of any portion of the minimum State
5contribution required under this Article in that fiscal year.
6Such amounts shall not reduce, and shall not be included in the
7calculation of, the required State contributions under this
8Article in any future year until the System has reached a
9funding ratio of at least 90%. A reference in this Article to
10the "required State contribution" or any substantially similar
11term does not include or apply to any amounts payable to the
12System under Section 25 of the Budget Stabilization Act.
13    Notwithstanding any other provision of this Section, the
14required State contribution for State fiscal year 2005 and for
15fiscal year 2008 and each fiscal year thereafter, as calculated
16under this Section and certified under Section 18-140, shall
17not exceed an amount equal to (i) the amount of the required
18State contribution that would have been calculated under this
19Section for that fiscal year if the System had not received any
20payments under subsection (d) of Section 7.2 of the General
21Obligation Bond Act, minus (ii) the portion of the State's
22total debt service payments for that fiscal year on the bonds
23issued for the purposes of that Section 7.2, as determined and
24certified by the Comptroller, that is the same as the System's
25portion of the total moneys distributed under subsection (d) of
26Section 7.2 of the General Obligation Bond Act. In determining

 

 

09600SB1858ham002- 53 -LRB096 06188 JDS 44862 a

1this maximum for State fiscal years 2008 through 2010, however,
2the amount referred to in item (i) shall be increased, as a
3percentage of the applicable employee payroll, in equal
4increments calculated from the sum of the required State
5contribution for State fiscal year 2007 plus the applicable
6portion of the State's total debt service payments for fiscal
7year 2007 on the bonds issued for the purposes of Section 7.2
8of the General Obligation Bond Act, so that, by State fiscal
9year 2011, the State is contributing at the rate otherwise
10required under this Section.
11    (d) For purposes of determining the required State
12contribution to the System, the value of the System's assets
13shall be equal to the actuarial value of the System's assets,
14which shall be calculated as follows:
15    As of June 30, 2008, the actuarial value of the System's
16assets shall be equal to the market value of the assets as of
17that date. In determining the actuarial value of the System's
18assets for fiscal years after June 30, 2008, any actuarial
19gains or losses from investment return incurred in a fiscal
20year shall be recognized in equal annual amounts over the
215-year period following that fiscal year.
22    (e) For purposes of determining the required State
23contribution to the system for a particular year, the actuarial
24value of assets shall be assumed to earn a rate of return equal
25to the system's actuarially assumed rate of return.
26(Source: P.A. 95-950, eff. 8-29-08; 96-43, eff. 7-15-09;

 

 

09600SB1858ham002- 54 -LRB096 06188 JDS 44862 a

109600SB3514ham003.)
 
2    (40 ILCS 5/18-140)   (from Ch. 108 1/2, par. 18-140)
3    Sec. 18-140. To certify required State contributions and
4submit vouchers.
5    (a) The Board shall certify to the Governor, on or before
6November 15 of each year, the amount of the required State
7contribution to the System for the following fiscal year. The
8certification shall include a copy of the actuarial
9recommendations upon which it is based.
10    On or before May 1, 2004, the Board shall recalculate and
11recertify to the Governor the amount of the required State
12contribution to the System for State fiscal year 2005, taking
13into account the amounts appropriated to and received by the
14System under subsection (d) of Section 7.2 of the General
15Obligation Bond Act.
16    On or before July 1, 2005, the Board shall recalculate and
17recertify to the Governor the amount of the required State
18contribution to the System for State fiscal year 2006, taking
19into account the changes in required State contributions made
20by this amendatory Act of the 94th General Assembly.
21    On or before April 1, 2011 June 15, 2010, the Board shall
22recalculate and recertify to the Governor the amount of the
23required State contribution to the System for State fiscal year
242011, applying the changes made by Public Act 96-889 to the
25System's assets and liabilities as of June 30, 2009 as though

 

 

09600SB1858ham002- 55 -LRB096 06188 JDS 44862 a

1Public Act 96-889 was approved on that date.
2    (b) Beginning in State fiscal year 1996, on or as soon as
3possible after the 15th day of each month the Board shall
4submit vouchers for payment of State contributions to the
5System, in a total monthly amount of one-twelfth of the
6required annual State contribution certified under subsection
7(a). From the effective date of this amendatory Act of the 93rd
8General Assembly through June 30, 2004, the Board shall not
9submit vouchers for the remainder of fiscal year 2004 in excess
10of the fiscal year 2004 certified contribution amount
11determined under this Section after taking into consideration
12the transfer to the System under subsection (c) of Section
136z-61 of the State Finance Act. These vouchers shall be paid by
14the State Comptroller and Treasurer by warrants drawn on the
15funds appropriated to the System for that fiscal year.
16    If in any month the amount remaining unexpended from all
17other appropriations to the System for the applicable fiscal
18year (including the appropriations to the System under Section
198.12 of the State Finance Act and Section 1 of the State
20Pension Funds Continuing Appropriation Act) is less than the
21amount lawfully vouchered under this Section, the difference
22shall be paid from the General Revenue Fund under the
23continuing appropriation authority provided in Section 1.1 of
24the State Pension Funds Continuing Appropriation Act.
25(Source: P.A. 93-2, eff. 4-7-03; 93-665, eff. 3-5-04; 94-4,
26eff. 6-1-05; 09600SB3514ham003.)
 

 

 

09600SB1858ham002- 56 -LRB096 06188 JDS 44862 a

1    Section 10. If and only if Senate Bill 3514 (as amended by
2House Amendments Nos. 3, 4, and 5) becomes law, the State
3Pension Funds Continuing Appropriation Act is amended by
4changing Sections 1.1 and 1.2 as follows:
 
5    (40 ILCS 15/1.1)
6    Sec. 1.1. Appropriations to certain retirement systems.
7    (a) There is hereby appropriated from the General Revenue
8Fund to the General Assembly Retirement System, on a continuing
9monthly basis, the amount, if any, by which the total available
10amount of all other appropriations to that retirement system
11for the payment of State contributions is less than the total
12amount of the vouchers for required State contributions
13lawfully submitted by the retirement system for that month
14under Section 2-134 of the Illinois Pension Code.
15    (b) There is hereby appropriated from the General Revenue
16Fund to the State Universities Retirement System, on a
17continuing monthly basis, the amount, if any, by which the
18total available amount of all other appropriations to that
19retirement system for the payment of State contributions,
20including any deficiency in the required contributions of the
21optional retirement program established under Section 15-158.2
22of the Illinois Pension Code, is less than the total amount of
23the vouchers for required State contributions lawfully
24submitted by the retirement system for that month under Section

 

 

09600SB1858ham002- 57 -LRB096 06188 JDS 44862 a

115-165 of the Illinois Pension Code.
2    (c) There is hereby appropriated from the Common School
3Fund to the Teachers' Retirement System of the State of
4Illinois, on a continuing monthly basis, the amount, if any, by
5which the total available amount of all other appropriations to
6that retirement system for the payment of State contributions
7is less than the total amount of the vouchers for required
8State contributions lawfully submitted by the retirement
9system for that month under Section 16-158 of the Illinois
10Pension Code.
11    (d) There is hereby appropriated from the General Revenue
12Fund to the Judges Retirement System of Illinois, on a
13continuing monthly basis, the amount, if any, by which the
14total available amount of all other appropriations to that
15retirement system for the payment of State contributions is
16less than the total amount of the vouchers for required State
17contributions lawfully submitted by the retirement system for
18that month under Section 18-140 of the Illinois Pension Code.
19    (e) The continuing appropriations provided by this Section
20shall first be available in State fiscal year 1996.
21    (f) For State fiscal year 2010 only, the continuing
22appropriations provided by this Section are equal to the amount
23certified by each System on or before December 31, 2008, less
24(i) the gross proceeds of the bonds sold in fiscal year 2010
25under the authorization contained in subsection (a) of Section
267.2 of the General Obligation Bond Act and (ii) any amounts

 

 

09600SB1858ham002- 58 -LRB096 06188 JDS 44862 a

1received from the State Pensions Fund.
2    (g) For State fiscal year 2011 only, the continuing
3appropriations provided by this Section are equal to the amount
4certified by each System on or before April 1, 2011 June 15,
52010, less (i) the gross proceeds of the bonds sold in fiscal
6year 2011 under the authorization contained in subsection (a)
7of Section 7.2 of the General Obligation Bond Act and (ii) any
8amounts received from the State Pensions Fund.
9(Source: P.A. 96-43, eff. 7-15-09; 09600SB3514ham003.)
 
10    (40 ILCS 15/1.2)
11    Sec. 1.2. Appropriations for the State Employees'
12Retirement System.
13    (a) From each fund from which an amount is appropriated for
14personal services to a department or other employer under
15Article 14 of the Illinois Pension Code, there is hereby
16appropriated to that department or other employer, on a
17continuing annual basis for each State fiscal year, an
18additional amount equal to the amount, if any, by which (1) an
19amount equal to the percentage of the personal services line
20item for that department or employer from that fund for that
21fiscal year that the Board of Trustees of the State Employees'
22Retirement System of Illinois has certified under Section
2314-135.08 of the Illinois Pension Code to be necessary to meet
24the State's obligation under Section 14-131 of the Illinois
25Pension Code for that fiscal year, exceeds (2) the amounts

 

 

09600SB1858ham002- 59 -LRB096 06188 JDS 44862 a

1otherwise appropriated to that department or employer from that
2fund for State contributions to the State Employees' Retirement
3System for that fiscal year. From the effective date of this
4amendatory Act of the 93rd General Assembly through the final
5payment from a department or employer's personal services line
6item for fiscal year 2004, payments to the State Employees'
7Retirement System that otherwise would have been made under
8this subsection (a) shall be governed by the provisions in
9subsection (a-1).
10    (a-1) If a Fiscal Year 2004 Shortfall is certified under
11subsection (f) of Section 14-131 of the Illinois Pension Code,
12there is hereby appropriated to the State Employees' Retirement
13System of Illinois on a continuing basis from the General
14Revenue Fund an additional aggregate amount equal to the Fiscal
15Year 2004 Shortfall.
16    (a-2) If a Fiscal Year 2010 Shortfall is certified under
17subsection (g) of Section 14-131 of the Illinois Pension Code,
18there is hereby appropriated to the State Employees' Retirement
19System of Illinois on a continuing basis from the General
20Revenue Fund an additional aggregate amount equal to the Fiscal
21Year 2010 Shortfall.
22    (b) The continuing appropriations provided for by this
23Section shall first be available in State fiscal year 1996.
24    (c) Beginning in Fiscal Year 2005, any continuing
25appropriation under this Section arising out of an
26appropriation for personal services from the Road Fund to the

 

 

09600SB1858ham002- 60 -LRB096 06188 JDS 44862 a

1Department of State Police or the Secretary of State shall be
2payable from the General Revenue Fund rather than the Road
3Fund.
4    (d) For State fiscal year 2010 only, a continuing
5appropriation is provided to the State Employees' Retirement
6System equal to the amount certified by the System on or before
7December 31, 2008, less the gross proceeds of the bonds sold in
8fiscal year 2010 under the authorization contained in
9subsection (a) of Section 7.2 of the General Obligation Bond
10Act.
11    (e) For State fiscal year 2011 only, a continuing
12appropriation is provided to the State Employees' Retirement
13System equal to the amount certified by the System on or before
14April 1, 2011 June 15, 2010, less the gross proceeds of the
15bonds sold in fiscal year 2011 under the authorization
16contained in subsection (a) of Section 7.2 of the General
17Obligation Bond Act.
18(Source: P.A. 96-43, eff. 7-15-09; 96-45, eff. 7-15-09;
1909600SB3514ham003.)
 
20    Section 99. Effective date. This Act takes effect upon
21becoming law or on the effective date of Senate Bill 3514 of
22the 96th General Assembly, whichever is later.".