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HB4274 Engrossed |
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LRB094 15583 AMC 50783 b |
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| AN ACT concerning public employee benefits.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Illinois Pension Code is amended by adding |
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| Sections 14-104.13 and 14-152.2 as follows:
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| (40 ILCS 5/14-104.13 new)
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| Sec. 14-104.13. University of Illinois Government Public |
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| Service Internship (GPSI) Program. An employee who |
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| participated in the University of Illinois Government Public |
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| Service Internship (GPSI) Program may establish creditable |
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| service for up to 2 years of that participation by applying in |
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| writing and paying to the System an amount equal to (1) |
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| employee contributions for the period for which credit is being |
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| established, based upon the employee's compensation and the |
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| applicable contribution rate in effect on the date he or she |
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| last became a member of the System, plus (2) the employer's |
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| normal cost of the credit established, plus (3) interest on the |
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| amounts in items (1) and (2) at the regular interest rate, |
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| compounded annually from the date the applicant last became a |
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| member of the System to the date of payment. Credit may not be |
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| established under this Section for any period for which service |
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| credit is established under any other provision of this Code.
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| (40 ILCS 5/14-152.2 new)
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| Sec. 14-152.2. New benefit increases. The General Assembly |
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| finds and declares that the addition of Section 14-104.13 in |
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| this amendatory Act of the 94th General Assembly that allows a |
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| member who participated in the University of Illinois |
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| Government Public Service Internship (GPSI) Program to |
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| establish creditable service for up to 2 years of that |
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| participation constitutes a new benefit increase within the |
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| meaning of Section 14-152.1. This new benefit increase expires |
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