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92_HB1964 LRB9206538LDcs 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 Section 18-133 as follows: 6 (40 ILCS 5/18-133) (from Ch. 108 1/2, par. 18-133) 7 Sec. 18-133. Financing; employee contributions. 8 (a) Effective July 1, 1967, each participant is required 9 to contribute 7 1/2% of each payment of salary toward the 10 retirement annuity. Such contributions shall continue during 11 the entire time the participant is in service, with the 12 following exceptions: 13 (1) Contributions for the retirement annuity are 14 not required on salary received after 18 years of service 15 by persons who were participants before January 2, 1954. 16 (2) A participant who continues to serve as a judge 17 after becoming eligible to receive the maximum rate of 18 annuity may elect, through a written direction filed with 19 the Board, to discontinue contributing to the System. 20 Any such option elected by a judge shall be irrevocable 21 unless prior to January 1, 2003
2000, and while 22 continuing to serve as judge, the judge (A) files with 23 the Board a letter cancelling the direction to 24 discontinue contributing to the System and requesting 25 that such contributing resume, and (B) pays into the 26 System an amount equal to the total of the discontinued 27 contributions plus interest thereon at 5% per annum. 28 Service credits earned in any other "participating 29 system" as defined in Article 20 of this Code shall be 30 considered for purposes of determining a judge's 31 eligibility to discontinue contributions under this -2- LRB9206538LDcs 1 subdivision (a)(2). 2 (3) A participant who (i) has attained age 60, (ii)3 continues to serve as a judge after becoming eligible to 4 receive the maximum rate of annuity ,and (ii) (iii)has 5 not elected to discontinue contributing to the System 6 under subdivision (a)(2) of this Section (or has revoked 7 any such election) may elect, through a written direction 8 filed with the Board, to make contributions to the System 9 based only on the amount of the increases in salary 10 received by the judge on or after the date of the 11 election, rather than the total salary received. If a 12 judge who is making contributions to the System on the 13 effective date of this amendatory Act of the 91st General 14 Assembly makes an election to limit contributions under 15 this subdivision (a)(3) within 90 days after that 16 effective date, the election shall be deemed to become 17 effective on that effective date and the judge shall be 18 entitled to receive a refund of any excess contributions 19 paid to the System during that 90-day period; any other 20 election under this subdivision (a)(3) becomes effective 21 on the first of the month following the date of the 22 election. An election to limit contributions under this 23 subdivision (a)(3) is irrevocable. Service credits 24 earned in any other participating system as defined in 25 Article 20 of this Code shall be considered for purposes 26 of determining a judge's eligibility to make an election 27 under this subdivision (a)(3). 28 (b) Beginning July 1, 1969, each participant is required 29 to contribute 1% of each payment of salary towards the 30 automatic increase in annuity provided in Section 18-125.1. 31 However, such contributions need not be made by any 32 participant who has elected prior to September 15, 1969, not 33 to be subject to the automatic increase in annuity 34 provisions. -3- LRB9206538LDcs 1 (c) Effective July 13, 1953, each married participant 2 subject to the survivor's annuity provisions is required to 3 contribute 2 1/2% of each payment of salary, whether or not 4 he or she is required to make any other contributions under 5 this Section. Such contributions shall be made concurrently 6 with the contributions made for annuity purposes. 7 (Source: P.A. 91-653, eff. 12-10-99.) 8 Section 99. Effective date. This Act takes effect upon 9 becoming law.
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