State of Illinois
91st General Assembly
Legislation

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91_SB1458

 
                                               LRB9110685EGfg

 1        AN ACT to amend the Illinois Pension Code and  the  State
 2    Mandates Act.

 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    adding Section 3-110.8 and changing Section 5-234 as follows:

 7        (40 ILCS 5/3-110.8 new)
 8        Sec. 3-110.8. Transfer to Article 5 Fund.
 9        (a)  Until  January  1,  2002,  any  active member of the
10    Article 5 pension fund may apply for transfer of his  or  her
11    creditable  service  accumulated  in  any police pension fund
12    under this Article to that Article 5  fund.   The  creditable
13    service  shall  be  transferred  upon  payment  by the police
14    pension fund to the Article 5 fund of an amount equal to:
15             (1)  the amounts accumulated to the  credit  of  the
16        applicant  on  the  books  of  the  fund  on  the date of
17        transfer; and
18             (2)  employer contributions in an  amount  equal  to
19        the amount determined under item (1); and
20             (3)  any  interest paid by the applicant in order to
21        reinstate service.
22    Participation in this Fund shall terminate  on  the  date  of
23    transfer.
24        (b)  Until  January  1,  2002,  any  active member of the
25    Article 5 pension fund may reinstate service  in  any  police
26    pension  fund  under  this  Article  that  was  terminated by
27    receipt of a refund, by payment to the police pension fund of
28    the amount of the refund, together with interest  thereon  at
29    the  rate  of 6% per year, compounded annually, from the date
30    of the refund to the date of repayment.
 
                            -2-                LRB9110685EGfg
 1        (40 ILCS 5/5-234) (from Ch. 108 1/2, par. 5-234)
 2        Sec. 5-234.  Transfer of credits.
 3        (a)  Any police officer who has  at  least  10  years  of
 4    creditable  service  in  the  Fund  may transfer to this Fund
 5    credits and creditable service accumulated  under  any  other
 6    pension fund or retirement system established under Article 8
 7    or  12  of this Code, by making application and paying to the
 8    Fund before January 1, 1990 the amount by which the  employee
 9    contributions  that  would  have  been  required  if  he  had
10    participated  in this Fund during the period for which credit
11    is being  transferred,  plus  interest,  exceeds  the  amount
12    actually  transferred  from such other fund or system to this
13    Fund under item (1) of Section 8-226.5 or item (1) of Section
14    12-127.5.
15        (b)  A policeman may transfer to this  Fund  credits  and
16    creditable  service accumulated under any police pension fund
17    established under Article 3 of this Code, by  making  written
18    application  to  the  Fund  before  January 1, 2002.  For the
19    transfer to be effective, the policeman must pay to the  Fund
20    before  withdrawal  from service the amount, if any, by which
21    the employee contributions that would have been  required  if
22    he or she had participated in this Fund during the period for
23    which credit is being transferred, plus interest, exceeds the
24    amount  actually  transferred from the Article 3 fund to this
25    Fund under item (1) of subsection (a) of Section 3-110.8.
26    (Source: P.A. 86-272.)

27        Section 90.  The State Mandates Act is amended by  adding
28    Section 8.24 as follows:

29        (30 ILCS 805/8.24 new)
30        Sec.  8.24.  Exempt  mandate.  Notwithstanding Sections 6
31    and 8 of this Act, no reimbursement by the State is  required
32    for  the  implementation  of  any  mandate  created  by  this
 
                            -3-                LRB9110685EGfg
 1    amendatory Act of the 91st General Assembly.

 2        Section  99.  Effective date.  This Act takes effect upon
 3    becoming law.

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