093_HB3155

 
                                     LRB093 02655 LRD 02665 b

 1        AN ACT in relation to public employee benefits.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section  5.   The  Illinois  Pension  Code  is amended by
 5    changing Sections 14-104.6 and 14-108.2 as follows:

 6        (40 ILCS 5/14-104.6) (from Ch. 108 1/2, par. 14-104.6)
 7        Sec.  14-104.6.  Service  transferred  from  Article  16.
 8    Service also includes the following:
 9        (a)  Any period as a teacher employed by  the  Department
10    of Corrections for which credit was established under Article
11    16 of this Code, subject to the following conditions: (1) the
12    credits  accrued  for  such  employment under Article 16 have
13    been transferred to this System; and (2) the participant  has
14    contributed  to  this  System an amount equal to (A) employee
15    contributions  at  the  rate  in  effect  for  noncoordinated
16    eligible creditable service at the date of membership in this
17    System, based upon the salary in effect during such period of
18    service, plus (B) the employer's share  of  the  normal  cost
19    under  this  System  for  each  year  that  credit  is  being
20    established, based on the salary in effect during such period
21    of  service,  plus (C) regular interest, compounded annually,
22    from July 1, 1987 (January 1, 2004 if the  person  becomes  a
23    member  in  December,  2003) to the date of payment, less (D)
24    the amount transferred on behalf  of  the  participant  under
25    Section 16-131.6.
26        (b)  Any  period as a security employee of the Department
27    of Human Services, as defined in Section  14-110,  for  which
28    credit was established under Article 16 of this Code, subject
29    to the following conditions: (1) the credits accrued for that
30    employment  under  Article  16  have been transferred to this
31    System; and (2)  the  participant  has  contributed  to  this
 
                            -2-      LRB093 02655 LRD 02665 b
 1    System  an  amount equal to (A) employee contributions at the
 2    rate in effect for noncoordinated eligible creditable service
 3    at the date of membership in  this  System,  based  upon  the
 4    salary  in  effect during the period of service, plus (B) the
 5    employer's share of the normal cost  under  this  System  for
 6    each  year  that  credit  is  being established, based on the
 7    salary in effect during  the  period  of  service,  plus  (C)
 8    regular  interest,  compounded annually, from July 1, 2001 to
 9    the date of payment,  less  (D)  the  amount  transferred  on
10    behalf of the participant under Section 16-131.6.
11        (c)  Credit  established  under  this  Section  shall  be
12    deemed  noncoordinated eligible creditable service as defined
13    in Section 14-110.
14    (Source: P.A. 92-14, eff. 6-28-01.)

15        (40 ILCS 5/14-108.2) (from Ch. 108 1/2, par. 14-108.2)
16        Sec. 14-108.2.  Any person employed by the Department  of
17    Corrections  who  is  a  member  of  the Teachers' Retirement
18    System established under Article 16 of this Code may elect to
19    become a member of this System on  either  December  1,  2003
20    June  1, 1987 or December 15, 2003 July 1, 1987, by notifying
21    the board of his election in writing on  or  before  November
22    30, 2003 May 31, 1987.
23        For  such  persons  electing to become covered employees,
24    participation in the Article 16  system  shall  terminate  on
25    December 1, 2003 June 1,  1987, and membership in this System
26    shall begin on that date.
27        For such persons electing to become noncovered employees,
28    participation  in  the  Article  16 system shall terminate on
29    December 15, 2003 July 1, 1987, and membership in this System
30    shall begin on that date.
31    (Source: P.A. 84-1472.)

32        Section 99.  Effective date.  This Act takes effect  upon
 
                            -3-      LRB093 02655 LRD 02665 b
 1    becoming law.