State of Illinois
92nd General Assembly
Legislation

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92_SB0565

 
                                               LRB9204841EGfg

 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 15-135.1 as follows:

 6        (40 ILCS 5/15-135.1)
 7        Sec.  15-135.1.  Election  to  avoid  application of P.A.
 8    90-65.
 9        (a)  A participant who was an employee on  July  7,  1997
10    and  retires  on or after July 30, 1999 the effective date of
11    this amendatory Act of the 91st General Assembly may elect in
12    writing at the time of  retirement  to  have  the  retirement
13    annuity  calculated  in  accordance  with  the  provisions of
14    Sections 15-135 and 15-136 as they existed immediately  prior
15    to  amendment by Public Act 90-65.  This election, once made,
16    is irrevocable.
17        (a-1)  A participant who was an employee on July 7,  1997
18    and  retired  on or after January 1, 1998 but before July 30,
19    1999 may elect in writing, within 60 days after the effective
20    date of this amendatory Act of the 92nd General Assembly,  to
21    have the retirement annuity calculated in accordance with the
22    provisions  of  Sections  15-135  and  15-136 as they existed
23    immediately prior to amendment by  Public  Act  90-65.   This
24    election  is prospective only and, once made, is irrevocable.
25    When an election under this subsection  (a-1)  is  made,  the
26    System shall recalculate the retirement annuity, effective on
27    the next annuity payment date following the date of election.
28    The  election  applies  to  group insurance costs that become
29    payable after the Department of Central  Management  Services
30    is  notified  of  the election under subsection (c), but does
31    not entitle the person to a refund  of  any  group  insurance
 
                            -2-                LRB9204841EGfg
 1    costs already paid.
 2        (b)  The fact that a person has elected to participate in
 3    the optional retirement program under Section 15-158.2 or has
 4    elected  the  portability  option  under  subsection (a-1) of
 5    Section 15-154 does not prevent the  person  from  making  an
 6    election  under  subsection (a) or (a-1) of this Section; the
 7    fact that such a person makes an  election  under  subsection
 8    (a)  or  (a-1)  of  this Section does not allow the person to
 9    change the irrevocable election that he  or  she  made  under
10    Section 15-158.2 or subsection (a-1) of Section 15-154.
11        (c)  The  System  shall promptly notify the Department of
12    Central Management Services of each election made under  this
13    Section.
14    (Source: P.A. 91-395, eff. 7-30-99.)

15        Section  99.  Effective date.  This Act takes effect upon
16    becoming law.

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