101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB2582

 

Introduced , by Rep. Michael J. Zalewski

 

SYNOPSIS AS INTRODUCED:
 
40 ILCS 5/13-208  from Ch. 108 1/2, par. 13-208

    Amends the Metropolitan Water Reclamation District Article of the Illinois Pension Code. Provides that "average final salary" means the highest average monthly (instead of annual) salary as calculated by accumulating the salary for the highest 520 consecutive paid days of service (instead of 52 consecutive pay periods) within the last 10 years of service immediately preceding the date of retirement and dividing by 24 (instead of 2). Provides that if the employee is paid for any portion of a work day, the fraction of the day worked and the salary for that fraction of the day shall be counted in accordance with the Fund's administrative rules. Effective immediately.


LRB101 07576 RPS 52621 b

FISCAL NOTE ACT MAY APPLY
PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB2582LRB101 07576 RPS 52621 b

1    AN ACT concerning public employee benefits.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Pension Code is amended by changing
5Section 13-208 as follows:
 
6    (40 ILCS 5/13-208)  (from Ch. 108 1/2, par. 13-208)
7    Sec. 13-208. "Average final salary": The highest average
8monthly annual salary as calculated by accumulating the salary
9for the highest 520 52 consecutive paid days of service pay
10periods within the last 10 years of service immediately
11preceding the date of retirement and dividing by 24 2. If the
12employee is paid for any portion of a work day, the fraction of
13the day worked and the salary for that fraction of the day
14shall be counted in accordance with the Fund's administrative
15rules.
16(Source: P.A. 90-12, eff. 6-13-97.)
 
17    Section 99. Effective date. This Act takes effect upon
18becoming law.