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91_SB0488
LRB9101797EGfg
1 AN ACT to amend the Illinois Pension Code by changing
2 Section 18-133.
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 18-133 as follows:
7 (40 ILCS 5/18-133) (from Ch. 108 1/2, par. 18-133)
8 Sec. 18-133. Financing; employee contributions.
9 (a) Effective July 1, 1967, each participant is required
10 to contribute 7 1/2% of each payment of salary toward the
11 retirement annuity. Such contributions shall continue during
12 the entire time the participant is in service, with the
13 following exceptions:
14 (1) Contributions for the retirement annuity are
15 not required on salary received after 18 years of service
16 by persons who were participants before January 2, 1954.
17 (2) A participant who continues to serve as a judge
18 after becoming eligible to receive the maximum rate of
19 annuity may elect, through a written direction filed with
20 the Board, to discontinue contributing to the System.
21 Any such option elected by a judge shall be irrevocable
22 unless prior to January 1, 2001 July 1, 1996, and while
23 continuing to serve as judge, the judge (A) files with
24 the Board a letter canceling the direction to discontinue
25 contributing to the System and requesting that such
26 contributing resume, and (B) pays into the System an
27 amount equal to the total of the discontinued
28 contributions plus interest thereon at 5% per annum.
29 Service credits earned in any other "participating
30 system" as defined in Article 20 of this Code shall be
31 considered for purposes of determining a judge's
-2- LRB9101797EGfg
1 eligibility to discontinue contributions under this
2 subdivision (a)(2).
3 (b) Beginning July 1, 1969, each participant is required
4 to contribute 1% of each payment of salary towards the
5 automatic increase in annuity provided in Section 18-125.1.
6 However, such contributions need not be made by any
7 participant who has elected prior to September 15, 1969, not
8 to be subject to the automatic increase in annuity
9 provisions.
10 (c) Effective July 13, 1953, each married participant
11 subject to the survivor's annuity provisions is required to
12 contribute 2 1/2% of each payment of salary, whether or not
13 he or she is required to make any other contributions under
14 this Section. Such contributions shall be made concurrently
15 with the contributions made for annuity purposes.
16 (Source: P.A. 89-136, eff. 7-14-95.)
17 Section 99. Effective date. This Act takes effect upon
18 becoming law.