[ Search ] [ Legislation ] [ Bill Summary ]
[ Home ] [ Back ] [ Bottom ]
90_HB0801 40 ILCS 5/14-103.12 from Ch. 108 1/2, par. 14-103.12 Amends the State Employee Article of the Pension Code to allow persons with at least 20 years of creditable service as an investigator for the Secretary of State to have their pensions based on their salary rate on their last day of service in that capacity. Effective immediately. LRB9003034EGfg LRB9003034EGfg 1 AN ACT to amend the Illinois Pension Code by changing 2 Section 14-103.12. 3 Be it enacted by the People of the State of Illinois, 4 represented in the General Assembly: 5 Section 5. The Illinois Pension Code is amended by 6 changing Section 14-103.12 as follows: 7 (40 ILCS 5/14-103.12) (from Ch. 108 1/2, par. 14-103.12) 8 Sec. 14-103.12. Final Average Compensation. 9 (a) For retirement and survivor annuities, "final 10 average compensation" means the monthly compensation obtained 11 by dividing the total compensation of an employee during the 12 period of: (1) the 48 consecutive months of service within 13 the last 120 months of service in which the total 14 compensation was the highest, or (2) the total period of 15 service, if less than 48 months, by the number of months of 16 service in such period; provided that for purposes of a 17 retirement annuity the average compensation for the last 12 18 months of the 48-month period shall not exceed the final 19 average compensation by more than 25%. 20 (b) For death and disability benefits, in the case of a 21 full-time employee, "final average compensation" means the 22 greater of (1) the rate of compensation of the employee at 23 the date of death or disability multiplied by 1 in the case 24 of a salaried employee, by 174 in the case of an hourly 25 employee, and by 22 in the case of a per diem employee, or 26 (2) for benefits commencing on or after January 1, 1991, 27 final average compensation as determined under subsection 28 (a). 29 For purposes of this paragraph, full or part-time status 30 shall be certified by the employing agency. Final rate of 31 compensation for a part-time employee shall be the total -2- LRB9003034EGfg 1 compensation earned during the last full calendar month prior 2 to the date of death or disability. 3 (c) Notwithstanding the provisions of subsection (a), 4 for the purpose of calculating retirement and survivor 5 annuities of persons with at least 20 years of eligible 6 creditable service as a State policeman or an investigator 7 for the Secretary of State (as those terms are defined in 8 Section 14-110), "final average compensation" means the 9 monthly rate of compensation received by the person on the 10 last day of service in that capacity
as a State policeman,or 11 the average monthly compensation received by the person for 12 the last 48 months of service prior to retirement, whichever 13 is greater. 14 (d) Notwithstanding the provisions of subsection (a), 15 for a person who was receiving, on the date of retirement or 16 death, a disability benefit calculated under subdivision 17 (b)(2) of this Section, the final average compensation used 18 to calculate the disability benefit may be used for purposes 19 of calculating the retirement and survivor annuities. 20 (e) In computing the final average compensation, periods 21 of military leave shall not be considered. 22 (Source: P.A. 86-273; 86-1488.) 23 Section 99. Effective date. This Act takes effect upon 24 becoming law.
[ Top ]