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Public Act 100-0769


 

Public Act 0769 100TH GENERAL ASSEMBLY

  
  
  

 


 
Public Act 100-0769
 
HB5137 EnrolledLRB100 20023 RPS 35305 b

    AN ACT concerning public employee benefits.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The Illinois Pension Code is amended by changing
Sections 15-198 and 16-203 and by adding Sections 15-202 and
16-204 as follows:
 
    (40 ILCS 5/15-198)
    Sec. 15-198. Application and expiration of new benefit
increases.
    (a) As used in this Section, "new benefit increase" means
an increase in the amount of any benefit provided under this
Article, or an expansion of the conditions of eligibility for
any benefit under this Article, that results from an amendment
to this Code that takes effect after the effective date of this
amendatory Act of the 94th General Assembly. "New benefit
increase", however, does not include any benefit increase
resulting from the changes made to Article 1 or this Article by
Public Act 100-23 or this amendatory Act of the 100th General
Assembly this amendatory Act of the 100th General Assembly.
    (b) Notwithstanding any other provision of this Code or any
subsequent amendment to this Code, every new benefit increase
is subject to this Section and shall be deemed to be granted
only in conformance with and contingent upon compliance with
the provisions of this Section.
    (c) The Public Act enacting a new benefit increase must
identify and provide for payment to the System of additional
funding at least sufficient to fund the resulting annual
increase in cost to the System as it accrues.
    Every new benefit increase is contingent upon the General
Assembly providing the additional funding required under this
subsection. The Commission on Government Forecasting and
Accountability shall analyze whether adequate additional
funding has been provided for the new benefit increase and
shall report its analysis to the Public Pension Division of the
Department of Insurance. A new benefit increase created by a
Public Act that does not include the additional funding
required under this subsection is null and void. If the Public
Pension Division determines that the additional funding
provided for a new benefit increase under this subsection is or
has become inadequate, it may so certify to the Governor and
the State Comptroller and, in the absence of corrective action
by the General Assembly, the new benefit increase shall expire
at the end of the fiscal year in which the certification is
made.
    (d) Every new benefit increase shall expire 5 years after
its effective date or on such earlier date as may be specified
in the language enacting the new benefit increase or provided
under subsection (c). This does not prevent the General
Assembly from extending or re-creating a new benefit increase
by law.
    (e) Except as otherwise provided in the language creating
the new benefit increase, a new benefit increase that expires
under this Section continues to apply to persons who applied
and qualified for the affected benefit while the new benefit
increase was in effect and to the affected beneficiaries and
alternate payees of such persons, but does not apply to any
other person, including without limitation a person who
continues in service after the expiration date and did not
apply and qualify for the affected benefit while the new
benefit increase was in effect.
(Source: P.A. 100-23, eff. 7-6-17.)
 
    (40 ILCS 5/15-202 new)
    Sec. 15-202. Optional defined contribution benefit. As
soon as practicable after the effective date of this amendatory
Act of the 100th General Assembly, the System shall offer a
defined contribution benefit to active members of the System.
The defined contribution benefit shall be an optional benefit
to any member who chooses to participate. The defined
contribution benefit shall collect optional employee and
optional employer contributions into an account and shall offer
investment options to the participant. The benefit under this
Section shall be operated in full compliance with any
applicable State and federal laws, and the System shall utilize
generally accepted practices in creating and maintaining the
benefit for the best interest of the participants. The System
may use funds from the employee and employer contributions to
defray any and all costs of creating and maintaining the
benefit. The System shall produce an annual report on the
participation in the benefit and shall make the report public.
 
    (40 ILCS 5/16-203)
    Sec. 16-203. Application and expiration of new benefit
increases.
    (a) As used in this Section, "new benefit increase" means
an increase in the amount of any benefit provided under this
Article, or an expansion of the conditions of eligibility for
any benefit under this Article, that results from an amendment
to this Code that takes effect after June 1, 2005 (the
effective date of Public Act 94-4). "New benefit increase",
however, does not include any benefit increase resulting from
the changes made to Article 1 or this Article by Public Act
95-910, Public Act 100-23, or this amendatory Act of the 100th
General Assembly or this amendatory Act of the 100th General
Assembly.
    (b) Notwithstanding any other provision of this Code or any
subsequent amendment to this Code, every new benefit increase
is subject to this Section and shall be deemed to be granted
only in conformance with and contingent upon compliance with
the provisions of this Section.
    (c) The Public Act enacting a new benefit increase must
identify and provide for payment to the System of additional
funding at least sufficient to fund the resulting annual
increase in cost to the System as it accrues.
    Every new benefit increase is contingent upon the General
Assembly providing the additional funding required under this
subsection. The Commission on Government Forecasting and
Accountability shall analyze whether adequate additional
funding has been provided for the new benefit increase and
shall report its analysis to the Public Pension Division of the
Department of Insurance. A new benefit increase created by a
Public Act that does not include the additional funding
required under this subsection is null and void. If the Public
Pension Division determines that the additional funding
provided for a new benefit increase under this subsection is or
has become inadequate, it may so certify to the Governor and
the State Comptroller and, in the absence of corrective action
by the General Assembly, the new benefit increase shall expire
at the end of the fiscal year in which the certification is
made.
    (d) Every new benefit increase shall expire 5 years after
its effective date or on such earlier date as may be specified
in the language enacting the new benefit increase or provided
under subsection (c). This does not prevent the General
Assembly from extending or re-creating a new benefit increase
by law.
    (e) Except as otherwise provided in the language creating
the new benefit increase, a new benefit increase that expires
under this Section continues to apply to persons who applied
and qualified for the affected benefit while the new benefit
increase was in effect and to the affected beneficiaries and
alternate payees of such persons, but does not apply to any
other person, including without limitation a person who
continues in service after the expiration date and did not
apply and qualify for the affected benefit while the new
benefit increase was in effect.
(Source: P.A. 100-23, eff. 7-6-17.)
 
    (40 ILCS 5/16-204 new)
    Sec. 16-204. Optional defined contribution benefit. As
soon as practicable after the effective date of this amendatory
Act of the 100th General Assembly, the System shall offer a
defined contribution benefit to active members of the System.
The defined contribution benefit shall be an optional benefit
to any member who chooses to participate. The defined
contribution benefit shall collect optional employee and
optional employer contributions into an account and shall offer
investment options to the participant. The benefit under this
Section shall be operated in full compliance with any
applicable State and federal laws, and the System shall utilize
generally accepted practices in creating and maintaining the
benefit for the best interest of the participants. The System
may use funds from the employee and employer contributions to
defray any and all costs of creating and maintaining the
benefit. The System shall produce an annual report on the
participation in the benefit and shall make the report public.
 
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 8/10/2018