Full Text of HB2422 96th General Assembly
HB2422ham001 96TH GENERAL ASSEMBLY
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Personnel and Pensions Committee
Filed: 3/5/2009
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| AMENDMENT TO HOUSE BILL 2422
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| AMENDMENT NO. ______. Amend House Bill 2422 by replacing | 3 |
| everything after the enacting clause with the following:
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| "Section 5. The Illinois Pension Code is amended by | 5 |
| changing Sections 6-210.1, 6-210.2, and 8-172.1 as follows:
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| (40 ILCS 5/6-210.1)
(from Ch. 108 1/2, par. 6-210.1)
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| Sec. 6-210.1. Credit for former employment with the fire | 8 |
| department.
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| (a) Any fireman who (1) accumulated service credit in the | 10 |
| Article 8 fund for
service as an employee of the Chicago Fire | 11 |
| Department and (2) has terminated
that Article 8 service credit | 12 |
| and received a refund of contributions therefor,
may establish | 13 |
| service credit in this Fund for all or any part of that period | 14 |
| of
service under the Article 8 fund by making written | 15 |
| application to the Board by
January 1, 2010 2005 and paying to | 16 |
| this Fund (i) employee contributions based upon
the actual |
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| salary received and the rates in effect for members of this | 2 |
| Fund at
the time of such service, plus (ii) the difference | 3 |
| between the amount of employer contributions transferred to the | 4 |
| Fund under Section 8-172.1 and the amounts equal to the | 5 |
| employer's normal cost of contributions had such contributions | 6 |
| been made at the rates in effect for members of this Fund at | 7 |
| the time of such service, plus (iii) interest thereon | 8 |
| calculated as follows:
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| (1) For applications received by the Board before July | 10 |
| 14, 1995, interest shall be calculated
on the amount of | 11 |
| employee contributions determined under item (i) above, at | 12 |
| the
rate of 4% per annum, compounded annually, from the | 13 |
| date of termination of such
service to the date of payment.
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| (2) For applications received by the Board on or after | 15 |
| July 14, 1995 but before the effective date of this | 16 |
| amendatory Act of the 96th General Assembly , interest shall | 17 |
| be calculated
on the amount of employee contributions | 18 |
| determined under item (i) above, at the
rate of 4% per | 19 |
| annum, compounded annually, from the first date of the | 20 |
| period
for which credit is being established under this | 21 |
| subsection (a) to the date of
payment.
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| (3) For applications received by the Board on or after | 23 |
| the effective date of this amendatory Act of the 96th | 24 |
| General Assembly, interest shall be calculated
on the | 25 |
| amount of contributions determined under items (i) and (ii) | 26 |
| of this subsection (a), at the
actuarially assumed rate for |
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| each year, compounded annually, from the first date of the | 2 |
| period
for which credit is being established under this | 3 |
| subsection (a) to the date of
payment. | 4 |
| A fireman who (1) retired on or after January 16, 2004 and | 5 |
| on or before the effective date of this amendatory Act of the | 6 |
| 93rd General Assembly and (2) files an application to establish | 7 |
| service credit under this subsection (a) before January 1, | 8 |
| 2005, shall have his or her pension recalculated prospectively | 9 |
| to include the service credit established under this subsection | 10 |
| (a).
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| (b) A fireman who, at any time during the period 1970 | 12 |
| through 1983, was
an employee of the Chicago Fire Department | 13 |
| but did not participate in any
pension fund subject to this | 14 |
| Code with respect to that employment may establish
service | 15 |
| credit in this Fund for all or any part of that employment by | 16 |
| making
written application to the Board by January 1, 2010 2005
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| and paying to
this Fund (i)
employee contributions based upon | 18 |
| the actual salary received and the rates in
effect for members | 19 |
| of this Fund at the time of that employment, plus (ii)
the | 20 |
| amounts equal to the employer's normal cost of contributions | 21 |
| had such contributions been made at the rates in effect for | 22 |
| members of this Fund at the time of that employment, plus (iii) | 23 |
| interest thereon calculated at the actuarially assumed rate of | 24 |
| 4% per annum , compounded annually,
from the first date of the | 25 |
| employment for which credit is being established
under this | 26 |
| subsection (b) to the date of payment.
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| (c) (Blank). A fireman may pay the contributions required | 2 |
| for service credit under
this Section established on or after | 3 |
| July 14, 1995 in the form of payroll deductions, in accordance | 4 |
| with
such procedures and limitations as may be established by | 5 |
| Board rule and any
applicable rules or ordinances of the | 6 |
| employer.
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| (d) Employer contributions shall be transferred as | 8 |
| provided in Sections
6-210.2 and 8-172.1. The employer shall | 9 |
| not be responsible for making any
additional employer | 10 |
| contributions for any credit established under this
Section.
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| (Source: P.A. 93-654, eff. 1-16-04; 93-917, eff. 8-12-04.)
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| (40 ILCS 5/6-210.2)
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| Sec. 6-210.2. City contributions for paramedics. | 14 |
| Municipality credits
computed and credited under Article 8 for | 15 |
| all firemen who (1) accumulated
service credit in the Article 8 | 16 |
| fund for service as a paramedic, (2) have
terminated that | 17 |
| Article 8 service credit and received a refund of
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| contributions, and (3) are participants in this Article 6 fund | 19 |
| on the
effective date of this amendatory Act of the 96th 93rd | 20 |
| General Assembly shall be
transferred by the Article 8 fund to | 21 |
| this Fund, together with interest at the
actuarially assumed | 22 |
| rate of 11% per annum , compounded annually, to the date of the | 23 |
| transfer, as
provided in Section 8-172.1 of this Code. These | 24 |
| city contributions shall be
credited to the individual fireman | 25 |
| only if he or she pays for prior service as
a paramedic in full |
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| to this Fund.
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| (Source: P.A. 93-654, eff. 1-16-04.)
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| (40 ILCS 5/8-172.1)
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| Sec. 8-172.1. Transfer of city contributions for | 5 |
| paramedics.
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| (a) Municipality credits computed and credited under this | 7 |
| Article 8 for all
persons who (1) accumulated service credit in | 8 |
| this Article 8 fund for service
as a paramedic, (2) have | 9 |
| terminated that Article 8 service credit and received
a refund | 10 |
| of contributions, and (3) are participants in the Article 6 | 11 |
| fund on
the effective date of this amendatory Act of the 96th | 12 |
| 93rd General Assembly shall
be transferred by this Article 8 | 13 |
| fund to the Article 6 fund together with
interest at the | 14 |
| actuarially assumed rate of 11% per annum , compounded annually, | 15 |
| to the date of
transfer. The city shall not be responsible for | 16 |
| making any additional employer
contributions to the Fund to | 17 |
| replace the amounts transferred under this
Section.
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| (b) Municipality credits computed and credited under this | 19 |
| Article 8 for all
persons who (1) accumulated service credit in | 20 |
| this Article 8 fund for service
as a paramedic, (2) have | 21 |
| terminated that Article 8 service credit and received
a refund | 22 |
| of contributions, and (3) are not participants in the Article 6 | 23 |
| fund
on the effective date of this amendatory Act of the 93rd | 24 |
| General Assembly shall
be used as provided in Section 8-172.
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| (Source: P.A. 93-654, eff. 1-16-04.) |
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| Section 90. The State Mandates Act is amended by adding | 2 |
| Section 8.33 as follows: | 3 |
| (30 ILCS 805/8.33 new) | 4 |
| Sec. 8.33. Exempt mandate. Notwithstanding Sections 6 and 8 | 5 |
| of this Act, no reimbursement by the State is required for the | 6 |
| implementation of any mandate created by this amendatory Act of | 7 |
| the 96th General Assembly.
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| Section 99. Effective date. This Act takes effect upon | 9 |
| becoming law.".
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