SB0734 EngrossedLRB103 03178 RPS 48184 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
5changing Section 8-230.1 as follows:
 
6    (40 ILCS 5/8-230.1)  (from Ch. 108 1/2, par. 8-230.1)
7    Sec. 8-230.1. Right of employees to contribute for certain
8other service. Any employee in the service, after having made
9contributions covering a period of 10 or more years to the
10annuity and benefit fund herein provided for, may elect to pay
11for and receive credit for all annuity purposes for service
12theretofore rendered by the employee to the Chicago Transit
13Authority created by the Metropolitan Transit Authority Act or
14its predecessor public utilities; provided that the last 5
15years of service prior to retirement on annuity shall have
16been as an employee of the City and a contributor to this Fund.
17Such service credit may be paid for and granted on the same
18basis and conditions as are applicable in the case of
19employees who make payment for past service under the
20provisions of Section 8-230, but on the assumption that the
21employee's salary throughout all of his or her service with
22the Authority or its predecessor public utilities was at the
23rate of the employee's salary at the later of the date of his

 

 

SB0734 Engrossed- 2 -LRB103 03178 RPS 48184 b

1or her entrance or reentrance into the service as a municipal
2employee, as applicable. In no event, however, shall such
3service be credited if the employee has not forfeited and
4relinquished pension credit for service covering such period
5under any pension or retirement plan applicable to the
6Authority or its predecessor public utilities and instituted
7and maintained by the Authority or its predecessor public
8utilities for the benefit of its employees.
9(Source: P.A. 90-655, eff. 7-30-98.)
 
10    Section 90. The State Mandates Act is amended by adding
11Section 8.47 as follows:
 
12    (30 ILCS 805/8.47 new)
13    Sec. 8.47. Exempt mandate. Notwithstanding Sections 6 and
148 of this Act, no reimbursement by the State is required for
15the implementation of any mandate created by this amendatory
16Act of the 103rd General Assembly.