Sen. Bill Cunningham

Filed: 9/9/2015

 

 


 

 


 
09900SB2156sam001LRB099 13062 RPS 38312 a

1
AMENDMENT TO SENATE BILL 2156

2    AMENDMENT NO. ______. Amend Senate Bill 2156 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Illinois Pension Code is amended by
5changing Section 15-110 as follows:
 
6    (40 ILCS 5/15-110)  (from Ch. 108 1/2, par. 15-110)
7    Sec. 15-110. Basic compensation. "Basic compensation":
8     (a) For an employee who first became a participant before
9the effective date of this amendatory Act of the 99th General
10Assembly, the The gross basic rate of salary or wages payable
11by an employer, including the value of maintenance, board,
12living quarters, personal laundry, or other allowances
13furnished in lieu of salary which are considered gross income
14under the federal Federal Internal Revenue Code, the employee
15contributions required under Section 15-157, and the amount
16paid by any employer to a custodial account for investment in

 

 

09900SB2156sam001- 2 -LRB099 13062 RPS 38312 a

1regulated investment company stocks for the benefit of the
2employee pursuant to the University Employees Custodial
3Accounts Act "An Act in relation to payments to custodial
4accounts for the benefit of employees of public institutions of
5higher education", approved September 9, 1983, and the amount
6of the premium payable by any employer to an insurance company
7or companies on an annuity contract, pursuant to the employee's
8election to accept a reduction in earnings or forego an
9increase in earnings under Section 30c of the State Finance Act
10"An Act in relation to State Finance," approved June 10, 1919,
11as amended, or a tax-sheltered annuity plan approved by any
12employer. For an employee who first became a participant before
13the effective date of this amendatory Act of the 99th General
14Assembly, basic Basic compensation does not include (1) salary
15or wages for overtime or other extra service; (2) prospective
16salary or wages under a summer teaching contract not yet
17entered upon; and (3) overseas differential allowances,
18quarters allowances, post allowances, educational allowances
19and transportation allowances paid by an employer under a
20contract with the federal government or its agencies for
21services rendered in other countries. If an employee who first
22became a participant before the effective date of this
23amendatory Act of the 99th General Assembly elects to receive
24in lieu of cash salary or wages, fringe benefits which are not
25taxable under the Federal Internal Revenue Code, the amount of
26the cash salary or wages which is waived shall be included in

 

 

09900SB2156sam001- 3 -LRB099 13062 RPS 38312 a

1determining basic compensation.
2    (b) For an employee who first becomes a participant on or
3after the effective date of this amendatory Act of the 99th
4General Assembly, the gross basic rate of salary or wages
5payable by an employer, the employee contributions required
6under Section 15-157, the amount paid by any employer to a
7custodial account for investment in regulated investment
8company stocks for the benefit of the employee pursuant to the
9University Employees Custodial Accounts Act, and the amount of
10the premium payable by any employer to an insurance company or
11companies on an annuity contract, pursuant to the employee's
12election to accept a reduction in earnings or forego an
13increase in earnings under Section 30c of the State Finance
14Act, or a tax-sheltered annuity plan approved by any employer.
15For an employee who first becomes a participant on or after the
16effective date of this amendatory Act of the 99th General
17Assembly, basic compensation does not include (1) salary or
18wages for overtime or other extra service; (2) prospective
19salary or wages under a summer teaching contract not yet
20entered upon; (3) overseas differential allowances, quarters
21allowances, post allowances, educational allowances and
22transportation allowances paid by an employer under a contract
23with the federal government or its agencies for services
24rendered in other countries; and (4) the value of maintenance,
25board, living quarters, personal laundry, or other allowances
26furnished in lieu of salary which are considered gross income

 

 

09900SB2156sam001- 4 -LRB099 13062 RPS 38312 a

1under the federal Internal Revenue Code. If an employee who
2first becomes a participant on or after the effective date of
3this amendatory Act of the 99th General Assembly elects to
4receive in lieu of cash salary or wages, fringe benefits which
5are not taxable under the federal Internal Revenue Code, the
6amount of the cash salary or wages which is waived shall not be
7included in determining basic compensation.
8(Source: P.A. 84-1308.)".