SB0777 EnrolledLRB099 07693 EFG 27826 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
5Sections 5-167.2, 5-168, 6-128.2, and 6-165 and by adding
6Sections 5-168.2 and 6-165.2 as follows:
 
7    (40 ILCS 5/5-167.2)   (from Ch. 108 1/2, par. 5-167.2)
8    Sec. 5-167.2. Retirement before September 1, 1967. A
9retired policeman, qualifying for minimum annuity or who
10retired from service with 20 or more years of service, before
11September 1, 1967, shall, in January of the year following the
12year he attains the age of 65, or in January of the year 1970,
13if then more than 65 years of age, have his then fixed and
14payable monthly annuity increased by an amount equal to 2% of
15the original grant of annuity, for each year the policeman was
16in receipt of annuity payments after the year in which he
17attains, or did attain the age of 63. An additional 2% increase
18in such then fixed and payable original granted annuity shall
19accrue in each January thereafter. Beginning January 1, 1986,
20the rate of such increase shall be 3% instead of 2%.
21    The provisions of the preceding paragraph of this Section
22apply only to a retired policeman eligible for such increases
23in his annuity who contributes to the Fund a sum equal to $5

 

 

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1for each full year of credited service upon which his annuity
2was computed. All such sums contributed shall be placed in a
3Supplementary Payment Reserve and shall be used for the
4purposes of such Fund account.
5    Beginning with the monthly annuity payment due in July,
61982, the fixed and granted monthly annuity payment for any
7policeman who retired from the service, before September 1,
81976, at age 50 or over with 20 or more years of service and
9entitled to an annuity on January 1, 1974, shall be not less
10than $400. It is the intent of the General Assembly that the
11change made in this Section by this amendatory Act of 1982
12shall apply retroactively to July 1, 1982.
13    Beginning with the monthly annuity payment due on January
141, 1986, the fixed and granted monthly annuity payment for any
15policeman who retired from the service before January 1, 1986,
16at age 50 or over with 20 or more years of service, or any
17policeman who retired from service due to termination of
18disability and who is entitled to an annuity on January 1,
191986, shall be not less than $475.
20    Beginning with the monthly annuity payment due on January
211, 1992, the fixed and granted monthly annuity payment for any
22policeman who retired from the service before January 1, 1992,
23at age 50 or over with 20 or more years of service, and for any
24policeman who retired from service due to termination of
25disability and who is entitled to an annuity on January 1,
261992, shall be not less than $650.

 

 

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1    Beginning with the monthly annuity payment due on January
21, 1993, the fixed and granted monthly annuity payment for any
3policeman who retired from the service before January 1, 1993,
4at age 50 or over with 20 or more years of service, and for any
5policeman who retired from service due to termination of
6disability and who is entitled to an annuity on January 1,
71993, shall be not less than $750.
8    Beginning with the monthly annuity payment due on January
91, 1994, the fixed and granted monthly annuity payment for any
10policeman who retired from the service before January 1, 1994,
11at age 50 or over with 20 or more years of service, and for any
12policeman who retired from service due to termination of
13disability and who is entitled to an annuity on January 1,
141994, shall be not less than $850.
15    Beginning with the monthly annuity payment due on January
161, 2004, the fixed and granted monthly annuity payment for any
17policeman who retired from the service before January 1, 2004,
18at age 50 or over with 20 or more years of service, and for any
19policeman who retired from service due to termination of
20disability and who is entitled to an annuity on January 1,
212004, shall be not less than $950.
22    Beginning with the monthly annuity payment due on January
231, 2005, the fixed and granted monthly annuity payment for any
24policeman who retired from the service before January 1, 2005,
25at age 50 or over with 20 or more years of service, and for any
26policeman who retired from service due to termination of

 

 

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1disability and who is entitled to an annuity on January 1,
22005, shall be not less than $1,050.
3    Beginning with the monthly annuity payment due on January
41, 2016, the fixed and granted monthly annuity payment for any
5policeman who retired from the service before January 1, 2016,
6at age 50 or over with 20 or more years of service, and for any
7policeman who retired from service due to termination of
8disability and who is entitled to an annuity on January 1,
92016, shall be no less than 125% of the Federal Poverty Level.
10For purposes of this Section, the "Federal Poverty Level" shall
11be determined pursuant to the poverty guidelines updated
12periodically in the Federal Register by the United States
13Department of Health and Human Services under the authority of
1442 U.S.C. 9902(2).
15    The difference in amount between the original fixed and
16granted monthly annuity of any such policeman on the date of
17his retirement from the service and the monthly annuity
18provided for in the immediately preceding paragraph shall be
19paid as a supplement in the manner set forth in the immediately
20following paragraph.
21    To defray the annual cost of the increases indicated in the
22preceding part of this Section, the annual interest income
23accruing from investments held by this Fund, exclusive of gains
24or losses on sales or exchanges of assets during the year, over
25and above 4% a year shall be used to the extent necessary and
26available to finance the cost of such increases for the

 

 

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1following year and such amount shall be transferred as of the
2end of each year beginning with the year 1969 to a Fund account
3designated as the Supplementary Payment Reserve from the
4Interest and Investment Reserve set forth in Section 5-207.
5    In the event the funds in the Supplementary Payment Reserve
6in any year arising from: (1) the interest income accruing in
7the preceding year above 4% a year and (2) the contributions by
8retired persons are insufficient to make the total payments to
9all persons entitled to the annuity specified in this Section
10and (3) any interest earnings over 4% a year beginning with the
11year 1969 which were not previously used to finance such
12increases and which were transferred to the Prior Service
13Annuity Reserve, may be used to the extent necessary and
14available to provide sufficient funds to finance such increases
15for the current year and such sums shall be transferred from
16the Prior Service Annuity Reserve. In the event the total money
17available in the Supplementary Payment Reserve from such
18sources are insufficient to make the total payments to all
19persons entitled to such increases for the year, a
20proportionate amount computed as the ratio of the money
21available to the total of the total payments specified for that
22year shall be paid to each person for that year.
23    The Fund shall be obligated for the payment of the
24increases in annuity as provided for in this Section only to
25the extent that the assets for such purpose are available.
26(Source: P.A. 93-654, eff. 1-16-04.)
 

 

 

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1    (40 ILCS 5/5-168)   (from Ch. 108 1/2, par. 5-168)
2    Sec. 5-168. Financing.
3    (a) Except as expressly provided in this Section, the city
4shall levy a tax annually upon all taxable property therein for
5the purpose of providing revenue for the fund.
6    The tax shall be at a rate that will produce a sum which,
7when added to the amounts deducted from the policemen's
8salaries and the amounts deposited in accordance with
9subsection (g), is sufficient for the purposes of the fund.
10    For the years 1968 and 1969, the city council shall levy a
11tax annually at a rate on the dollar of the assessed valuation
12of all taxable property that will produce, when extended, not
13to exceed $9,700,000. Beginning with the year 1970 and through
142014, the city council shall levy a tax annually at a rate on
15the dollar of the assessed valuation of all taxable property
16that will produce when extended an amount not to exceed the
17total amount of contributions by the policemen to the Fund made
18in the calendar year 2 years before the year for which the
19applicable annual tax is levied, multiplied by 1.40 for the tax
20levy year 1970; by 1.50 for the year 1971; by 1.65 for 1972; by
211.85 for 1973; by 1.90 for 1974; by 1.97 for 1975 through 1981;
22by 2.00 for 1982 and for each tax levy year through 2014.
23Beginning in tax levy year 2015, the city council shall levy a
24tax annually at a rate on the dollar of the assessed valuation
25of all taxable property that will produce when extended an

 

 

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1annual amount that is equal to no less than the amount of the
2city's contribution in each of the following payment years: for
32016, $420,000,000; for 2017, $464,000,000; for 2018,
4$500,000,000; for 2019, $557,000,000; for 2020, $579,000,000.
5    Beginning in tax levy year 2020, the city council shall
6levy a tax annually at a rate on the dollar of the assessed
7valuation of all taxable property that will produce when
8extended an annual amount that is equal to no less than (1) the
9normal cost to the Fund, plus (2) an annual amount sufficient
10to bring the total assets of the Fund up to 90% of the total
11actuarial liabilities of the Fund by the end of fiscal year
122055 2040, as annually updated and determined by an enrolled
13actuary employed by the Illinois Department of Insurance or by
14an enrolled actuary retained by the Fund or the city. In making
15these determinations, the required minimum employer
16contribution shall be calculated each year as a level
17percentage of payroll over the years remaining up to and
18including fiscal year 2055 2040 and shall be determined under
19the entry age normal actuarial cost method. Beginning in
20payment year 2056, the city's total required contribution in
21that year and each year thereafter shall be an annual amount
22that is equal to no less than (1) the normal cost of the Fund,
23plus (2) the annual amount determined by an enrolled actuary
24employed by the Illinois Department of Insurance or by an
25enrolled actuary retained by the Fund to be equal to the
26amount, if any, needed to bring the total actuarial assets of

 

 

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1the Fund up to 90% of the total actuarial liabilities of the
2Fund as of the end of the year, utilizing the entry age normal
3cost method as provided above projected unit credit actuarial
4cost method.
5    For the purposes of this subsection (a), contributions by
6the policeman to the Fund shall not include payments made by a
7policeman to establish credit under Section 5-214.2 of this
8Code.
9    (a-5) For purposes of determining the required employer
10contribution to the Fund, the value of the Fund's assets shall
11be equal to the actuarial value of the Fund's assets, which
12shall be calculated as follows:
13        (1) On March 30, 2011, the actuarial value of the
14    Fund's assets shall be equal to the market value of the
15    assets as of that date.
16        (2) In determining the actuarial value of the Fund's
17    assets for fiscal years after March 30, 2011, any actuarial
18    gains or losses from investment return incurred in a fiscal
19    year shall be recognized in equal annual amounts over the
20    5-year period following that fiscal year.
21    (a-7) If the city fails to transmit to the Fund
22contributions required of it under this Article for more than
2390 days after the payment of those contributions is due, the
24Fund shall may, after giving notice to the city, certify to the
25State Comptroller the amounts of the delinquent payments, and
26the Comptroller must, beginning in fiscal year 2016, deduct and

 

 

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1deposit into the Fund the certified amounts or a portion of
2those amounts from the following proportions of grants of State
3funds to the city:
4        (1) in fiscal year 2016, one-third of the total amount
5    of any grants of State funds to the city;
6        (2) in fiscal year 2017, two-thirds of the total amount
7    of any grants of State funds to the city; and
8        (3) in fiscal year 2018 and each fiscal year
9    thereafter, the total amount of any grants of State funds
10    to the city.
11    The State Comptroller may not deduct from any grants of
12State funds to the city more than the amount of delinquent
13payments certified to the State Comptroller by the Fund.
14    (b) The tax shall be levied and collected in like manner
15with the general taxes of the city, and is in addition to all
16other taxes which the city is now or may hereafter be
17authorized to levy upon all taxable property therein, and is
18exclusive of and in addition to the amount of tax the city is
19now or may hereafter be authorized to levy for general purposes
20under any law which may limit the amount of tax which the city
21may levy for general purposes. The county clerk of the county
22in which the city is located, in reducing tax levies under
23Section 8-3-1 of the Illinois Municipal Code, shall not
24consider the tax herein authorized as a part of the general tax
25levy for city purposes, and shall not include the tax in any
26limitation of the percent of the assessed valuation upon which

 

 

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1taxes are required to be extended for the city.
2    (c) On or before January 10 of each year, the board shall
3notify the city council of the requirement that the tax herein
4authorized be levied by the city council for that current year.
5The board shall compute the amounts necessary for the purposes
6of this fund to be credited to the reserves established and
7maintained within the fund; shall make an annual determination
8of the amount of the required city contributions; and shall
9certify the results thereof to the city council.
10    As soon as any revenue derived from the tax is collected it
11shall be paid to the city treasurer of the city and shall be
12held by him for the benefit of the fund in accordance with this
13Article.
14    (d) If the funds available are insufficient during any year
15to meet the requirements of this Article, the city may issue
16tax anticipation warrants against the tax levy for the current
17fiscal year.
18    (e) The various sums, including interest, to be contributed
19by the city, shall be taken from the revenue derived from such
20tax or otherwise as expressly provided in this Section. Any
21moneys of the city derived from any source other than the tax
22herein authorized shall not be used for any purpose of the fund
23nor the cost of administration thereof, unless applied to make
24the deposit expressly authorized in this Section or the
25additional city contributions required under subsection (h).
26    (f) If it is not possible or practicable for the city to

 

 

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1make its contributions at the time that salary deductions are
2made, the city shall make such contributions as soon as
3possible thereafter, with interest thereon to the time it is
4made.
5    (g) In lieu of levying all or a portion of the tax required
6under this Section in any year, the city may deposit with the
7city treasurer no later than March 1 of that year for the
8benefit of the fund, to be held in accordance with this
9Article, an amount that, together with the taxes levied under
10this Section for that year, is not less than the amount of the
11city contributions for that year as certified by the board to
12the city council. The deposit may be derived from any source
13legally available for that purpose, including, but not limited
14to, the proceeds of city borrowings. The making of a deposit
15shall satisfy fully the requirements of this Section for that
16year to the extent of the amounts so deposited. Amounts
17deposited under this subsection may be used by the fund for any
18of the purposes for which the proceeds of the tax levied under
19this Section may be used, including the payment of any amount
20that is otherwise required by this Article to be paid from the
21proceeds of that tax.
22    (h) In addition to the contributions required under the
23other provisions of this Article, by November 1 of the
24following specified years, the city shall deposit with the city
25treasurer for the benefit of the fund, to be held and used in
26accordance with this Article, the following specified amounts:

 

 

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1$6,300,000 in 1999; $5,880,000 in 2000; $5,460,000 in 2001;
2$5,040,000 in 2002; and $4,620,000 in 2003.
3    The additional city contributions required under this
4subsection are intended to decrease the unfunded liability of
5the fund and shall not decrease the amount of the city
6contributions required under the other provisions of this
7Article. The additional city contributions made under this
8subsection may be used by the fund for any of its lawful
9purposes.
10    (i) Any proceeds received by the city in relation to the
11operation of a casino or casinos within the city shall be
12expended by the city for payment to the Policemen's Annuity and
13Benefit Fund of Chicago to satisfy the city contribution
14obligation in any year.
15(Source: P.A. 95-1036, eff. 2-17-09; 96-1495, eff. 1-1-11.)
 
16    (40 ILCS 5/5-168.2 new)
17    Sec. 5-168.2. Funding obligation.
18    (a) Beginning January 1, 2016, the city shall be obligated
19to contribute to the Fund in each fiscal year an amount not
20less than the amount determined annually under subsection (a)
21of Section 5-168 of this Code. Notwithstanding any other
22provision of law, if the city fails to pay the amount
23guaranteed under this Section on or before December 31 of the
24year in which such amount is due, the Fund may bring a mandamus
25action in the Circuit Court of Cook County to compel the city

 

 

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1to make the required payment, irrespective of other remedies
2that may be available to the Fund. The obligations and causes
3of action created under this Section shall be in addition to
4any other right or remedy otherwise accorded by common law or
5State or federal law, and nothing in this Section shall be
6construed to deny, abrogate, impair, or waive any such common
7law or statutory right or remedy.
8    (b) In ordering the city to make the required payment, the
9court may order a reasonable payment schedule to enable the
10city to make the required payment without significantly
11imperilling the public health, safety, or welfare. Any payments
12required to be made by the city pursuant to this Section are
13expressly subordinated to the payment of the principal,
14interest, premium, if any, and other payments on or related to
15any bonded debt obligation of the city, either currently
16outstanding or to be issued, for which the source of repayment
17or security thereon is derived directly or indirectly from any
18funds collected or received by the city. Payments on such
19bonded obligations include any statutory fund transfers or
20other prefunding mechanisms or formulas set forth, now or
21hereafter, in State law, city ordinance, or bond indentures,
22into debt service funds or accounts of the city related to such
23bonded obligations, consistent with the payment schedules
24associated with such obligations.
 
25    (40 ILCS 5/6-128.2)   (from Ch. 108 1/2, par. 6-128.2)

 

 

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1    Sec. 6-128.2. Minimum retirement annuities.
2    (a) Beginning with the monthly payment due in January,
31988, the monthly annuity payment for any person who is
4entitled to receive a retirement annuity under this Article in
5January, 1990 and has retired from service at age 50 or over
6with 20 or more years of service, and for any person who
7retires from service on or after January 24, 1990 at age 50 or
8over with 20 or more years of service, shall not be less than
9$475 per month. The $475 minimum annuity is exclusive of any
10automatic annual increases provided by Sections 6-164 and
116-164.1, but not exclusive of previous raises in the minimum
12annuity as provided by any Section of this Article.
13    Beginning January 1, 1992, the minimum retirement annuity
14payable to any person who has retired from service at age 50 or
15over with 20 or more years of service and is entitled to
16receive a retirement annuity under this Article on that date,
17or who retires from service at age 50 or over with 20 or more
18years of service after that date, shall be $650 per month.
19    Beginning January 1, 1993, the minimum retirement annuity
20payable to any person who has retired from service at age 50 or
21over with 20 or more years of service and is entitled to
22receive a retirement annuity under this Article on that date,
23or who retires from service at age 50 or over with 20 or more
24years of service after that date, shall be $750 per month.
25    Beginning January 1, 1994, the minimum retirement annuity
26payable to any person who has retired from service at age 50 or

 

 

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1over with 20 or more years of service and is entitled to
2receive a retirement annuity under this Article on that date,
3or who retires from service at age 50 or over with 20 or more
4years of service after that date, shall be $850 per month.
5    Beginning January 1, 2004, the minimum retirement annuity
6payable to any person who has retired from service at age 50 or
7over with 20 or more years of service and is entitled to
8receive a retirement annuity under this Article on that date,
9or who retires from service at age 50 or over with 20 or more
10years of service after that date, shall be $950 per month.
11    Beginning January 1, 2005, the minimum retirement annuity
12payable to any person who has retired from service at age 50 or
13over with 20 or more years of service and is entitled to
14receive a retirement annuity under this Article on that date,
15or who retires from service at age 50 or over with 20 or more
16years of service after that date, shall be $1,050 per month.
17    Beginning January 1, 2016, the minimum retirement annuity
18payable to any person who has retired from service at age 50 or
19over with 20 or more years of service and is entitled to
20receive a retirement annuity under this Article on that date,
21or who retires from service at age 50 or over with 20 or more
22years of service after that date, shall be no less than 125% of
23the Federal Poverty Level. For purposes of this Section, the
24"Federal Poverty Level" shall be determined pursuant to the
25poverty guidelines updated periodically in the Federal
26Register by the United States Department of Health and Human

 

 

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1Services under the authority of 42 U.S.C. 9902(2).
2    The minimum annuities established by this subsection (a) do
3include previous raises in the minimum annuity as provided by
4any Section of this Article, but do not include any sums which
5have been added or will be added to annuity payments by the
6automatic annual increases provided by Sections 6-164 and
76-164.1. Such annual increases shall be paid in addition to the
8minimum amounts specified in this subsection.
9    (b) Notwithstanding any other provision of this Article,
10beginning January 1, 1990, the minimum retirement annuity
11payable to any person who is entitled to receive a retirement
12annuity under this Article on that date shall be $475 per
13month.
14    (c) The changes made to this Section by this amendatory Act
15of the 93rd General Assembly apply to all persons receiving a
16retirement annuity under this Article, without regard to
17whether the retirement of the fireman occurred prior to the
18effective date of this amendatory Act.
19(Source: P.A. 93-654, eff. 1-16-04.)
 
20    (40 ILCS 5/6-165)   (from Ch. 108 1/2, par. 6-165)
21    Sec. 6-165. Financing; tax.
22    (a) Except as expressly provided in this Section, each city
23shall levy a tax annually upon all taxable property therein for
24the purpose of providing revenue for the fund. For the years
25prior to the year 1960, the tax rate shall be as provided for

 

 

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1in the "Firemen's Annuity and Benefit Fund of the Illinois
2Municipal Code". The tax, from and after January 1, 1968 to and
3including the year 1971, shall not exceed .0863% of the value,
4as equalized or assessed by the Department of Revenue, of all
5taxable property in the city. Beginning with the year 1972 and
6through 2014, the city shall levy a tax annually at a rate on
7the dollar of the value, as equalized or assessed by the
8Department of Revenue of all taxable property within such city
9that will produce, when extended, not to exceed an amount equal
10to the total amount of contributions by the employees to the
11fund made in the calendar year 2 years prior to the year for
12which the annual applicable tax is levied, multiplied by 2.23
13through the calendar year 1981, and by 2.26 for the year 1982
14and for each tax levy year through 2014. Beginning in tax levy
15year 2015, the city council shall levy a tax annually at a rate
16on the dollar of the assessed valuation of all taxable property
17that will produce when extended an annual amount that is equal
18to no less than the amount of the city's contribution in each
19of the following payment years: for 2016, $199,000,000; for
202017, $208,000,000; for 2018, $227,000,000; for 2019,
21$235,000,000; for 2020, $245,000,000.
22    Beginning in tax levy year 2020, the city council shall
23levy a tax annually at a rate on the dollar of the assessed
24valuation of all taxable property that will produce when
25extended an annual amount that is equal to no less than (1) the
26normal cost to the Fund, plus (2) an annual amount sufficient

 

 

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1to bring the total assets of the Fund up to 90% of the total
2actuarial liabilities of the Fund by the end of fiscal year
32055 2040, as annually updated and determined by an enrolled
4actuary employed by the Illinois Department of Insurance or by
5an enrolled actuary retained by the Fund or the city. In making
6these determinations, the required minimum employer
7contribution shall be calculated each year as a level
8percentage of payroll over the years remaining up to and
9including fiscal year 2055 2040 and shall be determined under
10the entry age normal actuarial cost method. Beginning in
11payment year 2056, the city's required contribution in that
12year and for each year thereafter shall be an annual amount
13that is equal to no less than (1) the normal cost to the Fund,
14plus (2) the annual amount determined by an enrolled actuary
15employed by the Illinois Department of Insurance or by an
16enrolled actuary retained by the Fund to be equal to the
17amount, if any, needed to bring the total actuarial assets of
18the Fund up to 90% of the total actuarial liabilities of the
19Fund as of the end of the year, utilizing the entry age normal
20actuarial cost method as provided above projected unit credit
21actuarial cost method.
22    To provide revenue for the ordinary death benefit
23established by Section 6-150 of this Article, in addition to
24the contributions by the firemen for this purpose, the city
25council shall for the year 1962 and each year thereafter
26annually levy a tax, which shall be in addition to and

 

 

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1exclusive of the taxes authorized to be levied under the
2foregoing provisions of this Section, upon all taxable property
3in the city, as equalized or assessed by the Department of
4Revenue, at such rate per cent of the value of such property as
5shall be sufficient to produce for each year the sum of
6$142,000.
7    The amounts produced by the taxes levied annually, together
8with the deposit expressly authorized in this Section, shall be
9sufficient, when added to the amounts deducted from the
10salaries of firemen and applied to the fund, to provide for the
11purposes of the fund.
12    (a-5) For purposes of determining the required employer
13contribution to the Fund, the value of the Fund's assets shall
14be equal to the actuarial value of the Fund's assets, which
15shall be calculated as follows:
16        (1) On March 30, 2011, the actuarial value of the
17    Fund's assets shall be equal to the market value of the
18    assets as of that date.
19        (2) In determining the actuarial value of the Fund's
20    assets for fiscal years after March 30, 2011, any actuarial
21    gains or losses from investment return incurred in a fiscal
22    year shall be recognized in equal annual amounts over the
23    5-year period following that fiscal year.
24    (a-7) If the city fails to transmit to the Fund
25contributions required of it under this Article for more than
2690 days after the payment of those contributions is due, the

 

 

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1Fund shall may, after giving notice to the city, certify to the
2State Comptroller the amounts of the delinquent payments, and
3the Comptroller must, beginning in fiscal year 2016, deduct and
4deposit into the Fund the certified amounts or a portion of
5those amounts from the following proportions of grants of State
6funds to the city:
7        (1) in fiscal year 2016, one-third of the total amount
8    of any grants of State funds to the city;
9        (2) in fiscal year 2017, two-thirds of the total amount
10    of any grants of State funds to the city; and
11        (3) in fiscal year 2018 and each fiscal year
12    thereafter, the total amount of any grants of State funds
13    to the city.
14    The State Comptroller may not deduct from any grants of
15State funds to the city more than the amount of delinquent
16payments certified to the State Comptroller by the Fund.
17    (b) The taxes shall be levied and collected in like manner
18with the general taxes of the city, and shall be in addition to
19all other taxes which the city may levy upon all taxable
20property therein and shall be exclusive of and in addition to
21the amount of tax the city may levy for general purposes under
22Section 8-3-1 of the Illinois Municipal Code, approved May 29,
231961, as amended, or under any other law or laws which may
24limit the amount of tax which the city may levy for general
25purposes.
26    (c) The amounts of the taxes to be levied in each year

 

 

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1shall be certified to the city council by the board.
2    (d) As soon as any revenue derived from such taxes is
3collected, it shall be paid to the city treasurer and held for
4the benefit of the fund, and all such revenue shall be paid
5into the fund in accordance with the provisions of this
6Article.
7    (e) If the funds available are insufficient during any year
8to meet the requirements of this Article, the city may issue
9tax anticipation warrants, against the tax levies herein
10authorized for the current fiscal year.
11    (f) The various sums, hereinafter stated, including
12interest, to be contributed by the city, shall be taken from
13the revenue derived from the taxes or otherwise as expressly
14provided in this Section. Except for defraying the cost of
15administration of the fund during the calendar year in which a
16city first attains a population of 500,000 and comes under the
17provisions of this Article and the first calendar year
18thereafter, any money of the city derived from any source other
19than these taxes or the sale of tax anticipation warrants shall
20not be used to provide revenue for the fund, nor to pay any
21part of the cost of administration thereof, unless applied to
22make the deposit expressly authorized in this Section or the
23additional city contributions required under subsection (h).
24    (g) In lieu of levying all or a portion of the tax required
25under this Section in any year, the city may deposit with the
26city treasurer no later than March 1 of that year for the

 

 

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1benefit of the fund, to be held in accordance with this
2Article, an amount that, together with the taxes levied under
3this Section for that year, is not less than the amount of the
4city contributions for that year as certified by the board to
5the city council. The deposit may be derived from any source
6legally available for that purpose, including, but not limited
7to, the proceeds of city borrowings. The making of a deposit
8shall satisfy fully the requirements of this Section for that
9year to the extent of the amounts so deposited. Amounts
10deposited under this subsection may be used by the fund for any
11of the purposes for which the proceeds of the taxes levied
12under this Section may be used, including the payment of any
13amount that is otherwise required by this Article to be paid
14from the proceeds of those taxes.
15    (h) In addition to the contributions required under the
16other provisions of this Article, by November 1 of the
17following specified years, the city shall deposit with the city
18treasurer for the benefit of the fund, to be held and used in
19accordance with this Article, the following specified amounts:
20$6,300,000 in 1999; $5,880,000 in 2000; $5,460,000 in 2001;
21$5,040,000 in 2002; and $4,620,000 in 2003.
22    The additional city contributions required under this
23subsection are intended to decrease the unfunded liability of
24the fund and shall not decrease the amount of the city
25contributions required under the other provisions of this
26Article. The additional city contributions made under this

 

 

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1subsection may be used by the fund for any of its lawful
2purposes.
3    (i) Any proceeds received by the city in relation to the
4operation of a casino or casinos within the city shall be
5expended by the city for payment to the Firemen's Annuity and
6Benefit Fund of Chicago to satisfy the city contribution
7obligation in any year.
8(Source: P.A. 96-1495, eff. 1-1-11.)
 
9    (40 ILCS 5/6-165.2 new)
10    Sec. 6-165.2. Funding Obligation.
11    (a) Beginning January 1, 2016, the city shall be obligated
12to contribute to the Fund in each fiscal year an amount not
13less than the amount determined annually under subsection (a)
14of Section 6-165 of this Code. Notwithstanding any other
15provision of law, if the city fails to pay the amount
16guaranteed under this Section on or before December 31 of the
17year in which such amount is due, the Fund may bring a mandamus
18action in the Circuit Court of Cook County to compel the city
19to make the required payment, irrespective of other remedies
20that may be available to the Fund. The obligations and causes
21of action created under this Section shall be in addition to
22any other right or remedy otherwise accorded by common law or
23State or federal law, and nothing in this Section shall be
24construed to deny, abrogate, impair, or waive any such common
25law or statutory right or remedy.

 

 

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1    (b) In ordering the city to make the required payment, the
2court may order a reasonable payment schedule to enable the
3city to make the required payment without significantly
4imperilling the public health, safety, or welfare. Any payments
5required to be made by the city pursuant to this Section are
6expressly subordinated to the payment of the principal,
7interest, premium, if any, and other payments on or related to
8any bonded debt obligation of the city, either currently
9outstanding or to be issued, for which the source of repayment
10or security thereon is derived directly or indirectly from any
11funds collected or received by the city or collected or
12received on behalf of the city. Payments on such bonded
13obligations include any statutory fund transfers or other
14prefunding mechanisms or formulas set forth, now or hereafter,
15in State law, city ordinance, or bond indentures, into debt
16service funds or accounts of the city related to such bonded
17obligations, consistent with the payment schedules associated
18with such obligations.
 
19    Section 99. Effective date. This Act takes effect upon
20becoming law.