[ Search ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
91_HB4133
LRB9112076EGfg
1 AN ACT to amend the Illinois Pension Code and the State
2 Mandates Act.
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 adding Section 13-404 as follows:
7 (40 ILCS 5/13-404 new)
8 Sec. 13-404. Credit for certain university employment.
9 An employee with at least 8 years of service may establish
10 service credit for up to 3 years of employment with the
11 University of Illinois during which he or she was eligible
12 to, but did not, participate in the State Universities
13 Retirement System. To establish this credit, the employee
14 must apply in writing to the Fund before July 1, 2001 and pay
15 to the Fund an amount to be determined by the Board,
16 representing the corresponding employee and employer
17 contributions, plus interest at the annual rate from time to
18 time determined by the Board, compounded annually from the
19 date of the service to the date of payment.
20 Section 90. The State Mandates Act is amended by adding
21 Section 8.24 as follows:
22 (30 ILCS 805/8.24 new)
23 Sec. 8.24. Exempt mandate. Notwithstanding Sections 6
24 and 8 of this Act, no reimbursement by the State is required
25 for the implementation of any mandate created by this
26 amendatory Act of the 91st General Assembly.
27 Section 99. Effective date. This Act takes effect upon
28 becoming law.