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90_HB1096
40 ILCS 5/15-112 from Ch. 108 1/2, par. 15-112
Amends the State Universities Article of the Pension Code
to allow certain persons with at least 20 years of creditable
service as a university police officer to have their pensions
based on their salary rate on their last day of service in
that capacity. Effective immediately.
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1 AN ACT to amend the Illinois Pension Code by changing
2 Section 15-112.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Pension Code is amended by
6 changing Section 15-112 as follows:
7 (40 ILCS 5/15-112) (from Ch. 108 1/2, par. 15-112)
8 Sec. 15-112. Final rate of earnings. "Final rate of
9 earnings": For an employee who is paid on an hourly basis or
10 who receives an annual salary in installments during 12
11 months of each academic year, the average annual earnings
12 during the 48 consecutive calendar month period ending with
13 the last day of final termination of employment or the 4
14 consecutive academic years of service in which the employee's
15 earnings were the highest, whichever is greater. For a
16 university police officer who qualifies to have his or her
17 retirement annuity calculated under Rule 4 of Section 15-136,
18 the annual salary rate on the last day of service as a police
19 officer, if that is higher than the rate otherwise calculated
20 under this Section. For any other employee, the average
21 annual earnings during the 4 consecutive academic years of
22 service in which his or her earnings were the highest. For
23 an employee with less than 48 months or 4 consecutive
24 academic years of service, the average earnings during his
25 or her entire period of service. The earnings of an employee
26 with more than 36 months of service prior to the date of
27 becoming a participant are, for such period, considered equal
28 to the average earnings during the last 36 months of such
29 service. For an employee on leave of absence with pay, or on
30 leave of absence without pay who makes contributions during
31 such leave, earnings are assumed to be equal to the basic
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1 compensation on the date the leave began. For an employee on
2 disability leave, earnings are assumed to be equal to the
3 basic compensation on the date disability occurs or the
4 average earnings during the 24 months immediately preceding
5 the month in which disability occurs, whichever is greater.
6 If a participant is an employee for at least 6 months during
7 the academic year in which his or her employment is
8 terminated, the annual final rate of earnings shall be 25% of
9 the sum of (1) the annual basic compensation for that year,
10 and (2) the amount earned during the 36 months immediately
11 preceding that year, if this is greater than the final rate
12 of earnings as calculated under the other provisions of this
13 Section.
14 The following are not considered as earnings in
15 determining final rate of earnings: separation pay,
16 retirement pay, payment in lieu of unused sick leave and
17 payments from an employer for the period used in determining
18 final rate of earnings for any purpose other than services
19 rendered, leave of absence or vacation granted during that
20 period, and vacation of up to 56 work days allowed upon
21 termination of employment under a vacation policy of an
22 employer which was in effect on or before January 1, 1977.
23 Intermittent periods of service shall be considered as
24 consecutive in determining final rate of earnings.
25 (Source: P.A. 84-1472.)
26 Section 99. Effective date. This Act takes effect upon
27 becoming law.