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91_SB1850
LRB9113128EGfgA
1 AN ACT in relation to public employee benefits.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Illinois Pension Code is amended by
5 changing Sections 9-134, 9-146.1, 9-149, 9-163, 9-194, and
6 9-219 and adding Sections 9-121.14 and 9-121.16 as follows:
7 (40 ILCS 5/9-121.14 new)
8 Sec. 9-121.14. Benefit processors. An employee with at
9 least 5 years of creditable service under this Article may
10 purchase service credit for annuity purposes for up to 5
11 years of time spent working as a benefits processor for a
12 firm under contract with the Fund, by paying to the Fund
13 before July 1, 2001 an amount equal to 8.5% of the salary
14 received for that work or, if that salary is not
15 determinable, 8.5% of the employee's annual salary rate on
16 the first day of service in the Fund for each year of service
17 credit established under this Section. The employee may not
18 make optional contributions under Section 9-121.6 or 9-179.3
19 for periods of credit established under this Section.
20 (40 ILCS 5/9-121.16 new)
21 Sec. 9-121.16. Contractual service to the Retirement
22 Board. A person who has rendered continuous contractual
23 services (other than legal services) to the Retirement Board
24 for a period of at least 5 years may establish creditable
25 service in the Fund for up to 10 years of those services by
26 making written application to the Board before July 1, 2001
27 and paying to the Fund an amount to be determined by the
28 Board, equal to the employee contributions that would have
29 been required if those services had been performed as an
30 employee.
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1 For the purposes of calculating the required payment, the
2 Board may determine the applicable salary equivalent based on
3 the compensation received by the person for performing those
4 contractual services. The salary equivalent calculated under
5 this Section shall not be used for determining final average
6 salary under Section 9-134 or any other provisions of this
7 Code.
8 A person may not make optional contributions under
9 Section 9-121.6 or 9-179.3 for periods of credit established
10 under this Section.
11 (40 ILCS 5/9-134) (from Ch. 108 1/2, par. 9-134)
12 Sec. 9-134. Minimum annuity - Additional provisions.
13 (a) An employee who withdraws after July 1, 1957 at age
14 60 or more with 20 or more years of service, for whom the
15 amount of age and service and prior service annuity combined
16 is less than the amount stated in this Section from the date
17 of withdrawal, instead of all annuities otherwise provided in
18 this Article, is entitled to receive an annuity for life of
19 an amount equal to 1 2/3% for each year of service, of his
20 highest average annual salary for any 5 consecutive years
21 within the last 10 years of service immediately preceding the
22 date of withdrawal; provided that in the case of any employee
23 who withdraws on or after July 1, 1971, such employee age 60
24 or over with 20 or more years of service, or who withdraws on
25 or after January 1, 1982 and on or after attainment of age 65
26 with 10 or more years of service, shall instead receive an
27 annuity for life equal to 1.67% for each of the first 10
28 years of service; 1.90% for each of the next 10 years of
29 service; 2.10% for each year of service in excess of 20 but
30 not exceeding 30; and 2.30% for each year of service in
31 excess of 30, based on the highest average annual salary for
32 any 4 consecutive years within the last 10 years of service
33 immediately preceding the date of withdrawal.
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1 An employee who withdraws after July 1, 1957, but prior
2 to January 1, 1988, with 20 or more years of service, before
3 age 60 is entitled to annuity, to begin not earlier than age
4 55, if under such age at withdrawal, as computed in the last
5 preceding paragraph, reduced 1/2 of 1% for each full month or
6 fractional part thereof that his attained age when annuity is
7 to begin is less than 60 to the end that the total reduction
8 at age 55 shall be 30%, except that an employee retiring at
9 age 55 or over but less than age 60, having at least 35 years
10 of service, shall not be subject to the reduction in his
11 retirement annuity because of retirement below age 60.
12 An employee who withdraws on or after January 1, 1988,
13 with 20 or more years of service and before age 60, is
14 entitled to annuity as computed above, to begin not earlier
15 than age 50 if under such age at withdrawal, reduced 1/2 of
16 1% for each full month or fractional part thereof that his
17 attained age when annuity is to begin is less than 60, to the
18 end that the total reduction at age 50 shall be 60%, except
19 that an employee retiring at age 50 or over but less than age
20 60, having at least 30 years of service, shall not be subject
21 to the reduction in retirement annuity because of retirement
22 below age 60.
23 An employee who withdraws on or after January 1, 1992 but
24 before January 1, 1993, at age 60 or over with 5 or more
25 years of service, may elect, in lieu of any other employee
26 annuity provided in this Section, to receive an annuity for
27 life equal to 2.20% for each of the first 20 years of
28 service, and 2.40% for each year of service in excess of 20,
29 based on the highest average annual salary for any 4
30 consecutive years within the last 10 years of service
31 immediately preceding the date of withdrawal. An employee
32 who withdraws on or after January 1, 1992, but before January
33 1, 1993, on or after attainment of age 55 but before
34 attainment of age 60 with 5 or more years of service, is
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1 entitled to elect such annuity, but the annuity shall be
2 reduced 0.25% for each full month or fractional part thereof
3 that his attained age when the annuity is to begin is less
4 than age 60, to the end that the total reduction at age 55
5 shall be 15%, except that an employee retiring at age 55 or
6 over but less than age 60, having at least 30 years of
7 service, shall not be subject to the reduction in retirement
8 annuity because of retirement below age 60. This annuity
9 benefit formula shall only apply to those employees who are
10 age 55 or over prior to January 1, 1993, and who elect to
11 withdraw at age 55 or over on or after January 1, 1992 but
12 before January 1, 1993.
13 An employee who withdraws on or after July 1, 1996 but
14 before August 1, 1996, at age 55 or over with 8 or more years
15 of service, may elect, in lieu of any other employee annuity
16 provided in this Section, to receive an annuity for life
17 equal to 2.20% for each of the first 20 years of service, and
18 2.40% for each year of service in excess of 20, based on the
19 highest average annual salary for any 4 consecutive years
20 within the last 10 years of service immediately preceding the
21 date of withdrawal, but the annuity shall be reduced by 0.25%
22 for each full month or fractional part thereof that the
23 annuitant's attained age when the annuity is to begin is less
24 than age 60, unless the annuitant has at least 30 years of
25 service.
26 The maximum annuity under this paragraph (a) shall not
27 exceed 70% of highest average annual salary for any 5
28 consecutive years within the last 10 years of service in the
29 case of an employee who withdraws prior to July 1, 1971, and
30 75% of the highest average annual salary for any 4
31 consecutive years within the last 10 years of service
32 immediately preceding the date of withdrawal if withdrawal
33 takes place on or after July 1, 1971 and prior to January 1,
34 1988, and 80% of the highest average annual salary for any 4
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1 consecutive years within the last 10 years of service
2 immediately preceding the date of withdrawal if withdrawal
3 takes place on or after January 1, 1988. Fifteen hundred
4 dollars shall be considered the minimum amount of annual
5 salary for any year, and the maximum shall be his salary as
6 defined in this Article, except that for the years before
7 1957 and subsequent to 1952 the maximum annual salary to be
8 considered shall be $6,000, and for any year before the year
9 1953, $4,800.
10 (b) Any employee who withdraws on or after July 1, 1985
11 but prior to January 1, 1988, at age 60 or over with 10 or
12 more years of service, may elect in lieu of the benefit in
13 paragraph (a) to receive an annuity for life equal to 2.00%
14 for each year of service, based on the highest average annual
15 salary for any 4 consecutive years within the last 10 years
16 of service immediately preceding the date of withdrawal. An
17 employee who withdraws on or after July 1, 1985, but prior to
18 January 1, 1988, with 10 or more years of service, but before
19 age 60, is entitled to elect such annuity, to begin not
20 earlier than age 55, but the annuity shall be reduced 0.5%
21 for each full month or fractional part thereof that his
22 attained age when the annuity is to begin is less than 60, to
23 the end that the total reduction at age 55 shall be 30%;
24 except that an employee retiring at age 55 or over but less
25 than age 60, having at least 30 years of service, shall not
26 be subject to the reduction in retirement annuity because of
27 retirement below age 60.
28 An employee who withdraws on or after January 1, 1988, at
29 age 60 or over with 10 or more years of service, may elect,
30 in lieu of the benefit in paragraph (a), to receive an
31 annuity for life equal to 2.20% for each of the first 20
32 years of service, and 2.4% for each year of service in excess
33 of 20, based on the highest average annual salary for any 4
34 consecutive years within the last 10 years of service
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1 immediately preceding the date of withdrawal. An employee who
2 withdraws on or after January 1, 1988, with 10 or more years
3 of service, but before age 60, is entitled to elect such
4 annuity, to begin not earlier than age 50, but the annuity
5 shall be reduced 0.5% for each full month or fractional part
6 thereof that his attained age when the annuity is to begin is
7 less than 60, to the end that the total reduction at age 50
8 shall be 60%, except that an employee retiring at age 50 or
9 over but less than age 60, having at least 30 years of
10 service, shall not be subject to the reduction in retirement
11 annuity because of retirement below age 60.
12 An employee who withdraws at least 60 days after the
13 effective date of this amendatory Act of the 91st General
14 Assembly with 10 or more years of service may elect, in lieu
15 of any other retirement annuity provided under this Article,
16 to receive an annuity for life, beginning no earlier than
17 upon attainment of age 50, equal to 2.40% of his or her
18 highest average annual salary for any 4 consecutive years
19 within the last 10 years of service immediately preceding
20 withdrawal, for each year of service. If the employee has
21 less than 30 years of service, the annuity shall be reduced
22 by 0.5% for each full month or remaining fraction thereof
23 that the employee's attained age when the annuity is to begin
24 is less than 60.
25 The maximum annuity under this paragraph (b) shall not
26 exceed 75% of the highest average annual salary for any 4
27 consecutive years within the last 10 years of service
28 immediately preceding the date of withdrawal if withdrawal
29 occurs prior to January 1, 1988, or 80% of the highest
30 average annual salary for any 4 consecutive years within the
31 last 10 years of service immediately preceding the date of
32 withdrawal if withdrawal takes place on or after January 1,
33 1988.
34 The provisions of this paragraph (b) do not apply to any
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1 former County employee receiving an annuity from the fund,
2 who re-enters service as a County employee, unless he renders
3 at least 3 years of additional service after the date of
4 re-entry.
5 (c) For an employee receiving disability benefit, the
6 salary for annuity purposes under paragraph (a) or (b) of
7 this Section shall, for all periods of disability benefit
8 subsequent to the year 1956, be the amount on which his
9 disability benefit was based.
10 (d) A county employee with 20 or more years of service,
11 whose entire disability benefit credit period expires before
12 attainment of age 50 (age 55 if expiration occurs before
13 January 1, 1988), while still disabled for service is
14 entitled upon withdrawal to the larger of:
15 (1) The minimum annuity provided above, assuming
16 that he is then age 50 (age 55 if expiration occurs
17 before January 1, 1988), and reducing such annuity to its
18 actuarial equivalent at his attained age on such date, or
19 (2) the annuity provided from his age and service
20 and prior service annuity credits.
21 (e) The minimum annuity provisions above do not apply to
22 any former county employee receiving an annuity from the
23 fund, who re-enters service as a county employee, unless he
24 renders at least 3 years of additional service after the date
25 of re-entry.
26 (f) Any employee in service on July 1, 1947, or who
27 enters service thereafter before attaining age 65 and
28 withdraws after age 65 with less than 10 years of service for
29 whom the annuity has been fixed under the foregoing Sections
30 of this Article, shall, instead of the annuity so fixed,
31 receive an annuity as follows:
32 Such amount as he could have received had the accumulated
33 amounts for annuity been improved with interest at the
34 effective rate to the date of withdrawal, or to attainment of
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1 age 70, whichever is earlier, and had the county contributed
2 to such earlier date for age and service annuity the amount
3 that it would have contributed had he been under age 65,
4 after the date his annuity was fixed in accordance with this
5 Article, and assuming his annuity were computed from such
6 accumulations as of his age on such earlier date. However
7 those employees who before July 1, 1953, made additional
8 contributions in accordance with this Article, the annuity so
9 computed under this paragraph shall not exceed the annuity
10 which would be payable under the other provisions of this
11 Section if the employee concerned was credited with 20 years
12 of service and would qualify for annuity thereunder.
13 (g) Instead of the annuity provided in this or any other
14 Section of this Article, an employee having attained age 65
15 with at least 15 years of service may elect to receive a
16 minimum annual annuity for life equal to 1% of the highest
17 average annual salary for any 4 consecutive years within the
18 last 10 years of service immediately preceding retirement for
19 each year of service, plus the sum of $25 for each year of
20 service provided that no such minimum annual annuity may be
21 greater than 60% of such highest average annual salary.
22 (h) The annuity is payable in equal monthly
23 installments.
24 (i) If, by operation of law, a function of a
25 governmental unit, as defined by Section 20-107 of this Code,
26 is transferred in whole or in part to the county in which
27 this Article 9 is created as set forth in Section 9-101, and
28 employees of the governmental unit are transferred as a class
29 to such county, the earnings credits in the retirement system
30 covering the governmental unit which have been validated
31 under Section 20-109 of this Code shall be considered in
32 determining the highest average annual salary for purposes of
33 this Section 9-134.
34 (j) The annuity being paid to an employee annuitant on
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1 July 1, 1988, shall be increased on that date by 1% for each
2 full year that has elapsed from the date the annuity began.
3 (k) Notwithstanding anything to the contrary in this
4 Article 9, Section 20-131 shall not apply to an employee who
5 withdraws on or after January 1, 1988, but prior to attaining
6 age 55. Therefore, no employee shall be entitled to elect to
7 have the alternative formula previously set forth in Section
8 20-122 prior to the amendatory Act of 1975 apply to any
9 annuity, the payment of which commenced after January 1,
10 1988, but prior to such employee's attainment of age 55.
11 (Source: P.A. 86-272; 87-794.)
12 (40 ILCS 5/9-146.1) (from Ch. 108 1/2, par. 9-146.1)
13 Sec. 9-146.1. Minimum annuities for widows. The widow of
14 an employee who retires from service or dies while in the
15 service subsequent to June 11, 1965, who is otherwise
16 eligible for widow's annuity under this Article and for whom
17 the amount of widow's annuity and widow's prior service
18 annuity combined, fixed or provided for such widow under
19 other provisions of this Article 9 is less than the amount
20 hereinafter provided in this Section, shall, from and after
21 the date her otherwise provided annuity would begin, in lieu
22 of such otherwise provided widow's and widow's prior service
23 annuity, be entitled to the following indicated amount of
24 annuity:
25 (a) The widow, of any employee who dies while in the
26 service on or after the date on which he attains the age of
27 60 or more years with at least 20 years of service, or 10 or
28 more years of service if death occurs on or after attainment
29 of age 65 and on or after January 1, 1982, shall be entitled
30 to an annuity equal to one-half of the amount of annuity
31 which her deceased husband would have been entitled to
32 receive had he withdrawn from the service on the day
33 immediately preceding the date of his death, conditional upon
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1 such widow having attained the age of 60 or more years on
2 such date. Such amount of widow's annuity shall not, however,
3 exceed the sum of $500 a month if death in service occurs
4 before July 1, 1985.
5 If such widow of such described employee shall not be 60
6 or more years of age on such date of death, the amount
7 provided in the immediately preceding paragraph for a widow
8 60 or more years of age, shall, in the case of such younger
9 widow, be reduced by 1/2 of 1 per cent for each month that
10 her then attained age is less than 60 years; except that such
11 younger widow of an employee who dies while in service on or
12 after July 1, 1985 with at least 30 years of service, shall
13 not be subject to the reduction in widow's annuity because of
14 her age less than 60 on the date of the employee's death.
15 (b) The widow, of any employee who dies subsequent to
16 the date of his retirement on annuity, and who so retired on
17 or after the date on which he attained the age of 60 or more
18 years with at least 20 years of service, or 10 or more years
19 of service if retirement occurs on or after attainment of age
20 65 and on or after January 1, 1982, shall be entitled to an
21 annuity equal to one-half of the amount of annuity which her
22 deceased husband received as of the date of his retirement on
23 annuity, conditional upon such widow having attained the age
24 of 60 or more years on the date of her husband's retirement
25 on annuity. Such amount of widow's annuity shall not,
26 however, exceed the sum of $500 a month if the death occurs
27 before the effective date of this amendatory Act of 1991.
28 If such widow of such described employee shall not have
29 attained such age of 60 or more years on such date of her
30 husband's retirement on annuity, the amount provided in the
31 immediately preceding paragraph for a widow 60 or more years
32 of age on the date of her husband's retirement on annuity,
33 shall, in the case of such then younger widow, be reduced by
34 1/2 of 1 per cent for each month that her then attained age
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1 was less than 60 years; except that such younger widow of an
2 employee retiring on or after July 1, 1985 with at least 30
3 years of service, shall not be subject to the reduction in
4 widow's annuity because of her age less than 60 on the date
5 of the employee's retirement.
6 (c) The foregoing provisions relating to minimum
7 annuities for widows shall not apply to the widow of any
8 former county employee receiving an annuity from the Fund on
9 June 11, 1965, who re-enters service as a county employee,
10 unless such employee renders at least 3 years of additional
11 service after the date of re-entry.
12 (d) An annuity being paid to a surviving spouse on
13 January 1, 1984 shall be increased by 10% and shall
14 thereafter be paid at the increased rate until the
15 termination of the annuity by death or other cause. The
16 annuity for a qualifying widow shall not exceed $500 per
17 month.
18 (e) The widow of any employee who dies while in service
19 on or after July 1, 1985 but prior to January 1, 1988, and
20 the widow of an employee who retires on or after July 1, 1985
21 but prior to January 1, 1988 with at least 10 years of
22 service, and the widow of an employee who retires on or after
23 January 1, 1984 but prior to July 1, 1985 with at least 30
24 years of service, shall be entitled to an annuity equal to
25 one-half of the amount of annuity which her deceased husband
26 would have received had he retired immediately prior to his
27 death or one-half the amount of the originally granted
28 retirement annuity, whichever is applicable. Such widow's
29 annuity will be reduced 0.5% for each month that the widow's
30 attained age is less than age 60 on the date of the
31 employee's death in service or retirement if the employee's
32 death in service or retirement is before January 1, 1988;
33 except that such younger widow of an employee with at least
34 30 years of service shall not be subject to the reduction in
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1 widow's annuity because of her age less than 60 on the date
2 of the employee's death in service or retirement.
3 The widow of an employee who dies in service on or after
4 January 1, 1988, or retires on or after January 1, 1988 with
5 at least 10 years of service, shall be entitled to an annuity
6 equal to 1/2 of the amount of annuity which her deceased
7 husband would have received had he retired immediately prior
8 to his death or 1/2 of the amount of the annuity which her
9 deceased husband received as of the date of his death,
10 whichever is applicable. Such widow's annuity shall be
11 reduced 0.5% for each month that the widow's attained age is
12 less than age 60 on the date of the employee's death if
13 employee's death in service or retirement is after January 1,
14 1988; except that such younger widow of an employee with at
15 least 30 years of service shall not be subject to the
16 reduction in widow's annuity because of her age on the date
17 of the employee's death.
18 In lieu of any other annuity provided by this Article,
19 the widow of an employee who dies in service on or after
20 January 1, 1992, or retires on or after January 1, 1992 with
21 at least 10 years of service, shall be entitled to an annuity
22 equal to 1/2 of the amount of annuity which her deceased
23 husband would have received had he retired immediately prior
24 to his death or 1/2 of the amount of the annuity which her
25 deceased husband received as of the date of his death,
26 whichever is applicable. Such widow's annuity shall be
27 reduced 0.5% for each month that the widow's attained age is
28 less than age 55 on the date of the employee's death; except
29 that such younger widow of an employee with at least 30 years
30 of service shall not be subject to the reduction in widow's
31 annuity because of her age on the date of the employee's
32 death.
33 In lieu of any other annuity provided by this Article,
34 the widow of an employee who dies in service or withdraws
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1 from service on or after January 1, 1992 but before January
2 1, 1993 at age 55 or over with at least 5 but less than 10
3 years of service, shall be entitled to an annuity equal to
4 half of the amount of annuity which her deceased husband
5 would have received had he retired immediately prior to his
6 death or half of the amount of the annuity which her deceased
7 husband received as of the date of his death, whichever is
8 applicable. This widow's annuity shall be reduced 0.5% for
9 each month that the widow's attained age is less than 60 on
10 the date of the employee's death.
11 However, in the case of an employee dying in service, the
12 amount of widow's annuity shall not be less than 10% of the
13 highest average annual salary for any 4 consecutive years
14 within the last 10 years of service immediately preceding the
15 date of withdrawal. The maximum amount of annuity under this
16 paragraph shall not be limited to a dollar maximum. The
17 provisions of this paragraph shall not apply to the widow of
18 any former County employee receiving an annuity from the fund
19 who re-enters service as a County employee, unless such
20 employee renders at least 3 years of additional service after
21 the date of re-entry.
22 (f) An annuity being paid to a surviving spouse on July
23 1, 1988, shall be increased on that date by 1% for each full
24 year that has elapsed from the date the annuity began.
25 (g) In lieu of any other annuity provided under this
26 Article, if the deceased employee was receiving a retirement
27 annuity at the time of his death and that death occurs on or
28 after January 1, 1993, the widow's annuity shall be 50% of
29 the deceased employee's retirement annuity at the time of
30 death, reduced by 0.5% for each month that the widow's age on
31 the date of death is less than 55, except that the reduction
32 does not apply if the deceased employee had at least 30 years
33 of service.
34 (h) In lieu of any other annuity provided under this
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1 Article, the widow of an employee who dies in service on or
2 after January 1, 2001 or has at least 10 years of service and
3 dies on or after January 1, 2001 while receiving an annuity
4 shall be entitled to a widow's annuity equal to 65% of the
5 amount of annuity which her deceased husband would have
6 received had he retired immediately prior to his death or 65%
7 of the amount of the annuity which her deceased husband
8 received as of the date of his death, whichever is
9 applicable. This widow's annuity shall be reduced by 0.5%
10 for each month that the widow's age on the date of the
11 employee's death is less than 55, unless the deceased husband
12 had at least 30 years of service, in which case the reduction
13 does not apply.
14 (Source: P.A. 86-273; 87-794; 87-1265.)
15 (40 ILCS 5/9-149) (from Ch. 108 1/2, par. 9-149)
16 Sec. 9-149. Widow's remarriage marriage to terminate
17 annuity. A widow's annuity shall terminate when she
18 remarries if the marriage takes place before the date 60 days
19 after the effective date of this amendatory Act of the 91st
20 General Assembly. If a widow remarries 60 or more days after
21 the effective date of this amendatory Act of the 91st General
22 Assembly, the widow's annuity shall continue without
23 interruption.
24 When a widow dies, if she has not received, in the form
25 of an annuity, an amount equal to the total sums accumulated
26 and credited from the employee's contributions and applied
27 for the widow's annuity, the difference between such
28 accumulated annuity credits and the amount received by her in
29 annuity payments shall be refunded to her; provided that if a
30 reversionary annuity is payable to her or to any other person
31 designated by the employee, this such aforesaid amount shall
32 not be refunded, but the reversionary annuity shall be
33 payable. If there is any child of the employee who is under
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1 18 years of age, the part of any such amount that is required
2 to pay an annuity to the child shall be transferred to the
3 child's annuity reserve. In making refunds under this
4 Section, no interest shall be paid upon either the total of
5 annuity payments made or the amounts subject to refund. Any
6 refund shall be paid according to the provisions of Section
7 9-166.
8 (Source: P.A. 81-1536.)
9 (40 ILCS 5/9-163) (from Ch. 108 1/2, par. 9-163)
10 Sec. 9-163. Restoration of rights. An employee who has
11 withdrawn as a refund the amounts credited for annuity
12 purposes, and who re-enters service and serves for periods
13 comprising at least 2 years after the date of the last refund
14 paid to him, may have his annuity rights restored by making
15 application to the board in writing for the privilege of
16 reinstating such rights and by compliance with the following
17 provisions:
18 (a) The employee shall repay in full to the fund
19 while in service all refunds received, together with
20 interest at the effective rate from the application date
21 of such refund or refunds to the date of repayment.
22 (b) If payment is not made in a single sum, the
23 repayment may be made in installments by deductions from
24 salary or otherwise in such amounts as the employee may
25 elect to pay, with interest at the effective rate
26 accruing on unpaid balances.
27 (c) If the employee withdraws from service or dies
28 in service before full repayment is made, or during the
29 required return to service, the amounts repaid, including
30 interest repaid but without further interest, shall be
31 refunded in accordance with the refund provisions of this
32 Article.
33 For an employee who applies to the Fund to reinstate
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1 credit and repay a refund between January 1, 1993 and March
2 1, 1993, the 2 year minimum period of subsequent service
3 required under item (a) shall be instead a period of 6
4 months.
5 A person who establishes service credit under Section
6 9-121.16 may, at the same time, reinstate credit in this Fund
7 and repay a refund without a return to service,
8 notwithstanding the other provisions of this Section.
9 (Source: P.A. 87-1265.)
10 (40 ILCS 5/9-194) (from Ch. 108 1/2, par. 9-194)
11 Sec. 9-194. To invest the reserves. To invest the
12 reserves of the fund in accordance with Sections 1-109,
13 1-109.1, 1-109.2, 1-110, 1-111, 1-114, and 1-115 of this Act.
14 Investments made in accordance with Section 1-113 shall be
15 deemed to be prudent the provisions set forth in Section
16 1-113 of this Act.
17 The retirement board may sell any security held by it at
18 any time it deems it desirable.
19 The board may enter into agreements and execute documents
20 that it determines to be necessary to complete any investment
21 transaction.
22 All investments shall be clearly held and accounted for
23 to indicate ownership by the board. The board may direct the
24 registration of securities in its own name or in the name of
25 a nominee created for the express purpose of registration of
26 securities by a savings and loan association or national or
27 State bank or trust company authorized to conduct a trust
28 business in the State of Illinois.
29 Investments shall be carried at cost or at a value
30 determined in accordance with generally accepted accounting
31 principles.
32 (Source: P.A. 82-960.)
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1 (40 ILCS 5/9-219) (from Ch. 108 1/2, par. 9-219)
2 Sec. 9-219. Computation of service.
3 (1) In computing the term of service of an employee
4 prior to the effective date, the entire period beginning on
5 the date he was first appointed and ending on the day before
6 the effective date, except any intervening period during
7 which he was separated by withdrawal from service, shall be
8 counted for all purposes of this Article.
9 (2) In computing the term of service of any employee on
10 or after the effective date, the following periods of time
11 shall be counted as periods of service for age and service,
12 widow's and child's annuity purposes:
13 (a) The time during which he performed the duties
14 of his position.
15 (b) Vacations, leaves of absence with whole or part
16 pay, and leaves of absence without pay not longer than 90
17 days.
18 (c) For an employee who is a member of a county
19 police department or a correctional officer with the
20 county department of corrections, approved leaves of
21 absence without pay during which the employee serves as a
22 full-time officer or employee head of an employee
23 association, the membership of which consists of other
24 participants in the Fund police officers, provided that
25 the employee contributes to the Fund (1) the amount that
26 he would have contributed had he remained an active
27 employee member of the county police department in the
28 position he occupied at the time the leave of absence was
29 granted, (2) an amount calculated by the Board
30 representing employer contributions, and (3) regular
31 interest thereon from the date of service to the date of
32 payment. However, if the employee's application to
33 establish credit under this subsection is received by the
34 Fund on or after January 1, 2001 and before July 1, 2001,
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1 the amount representing employer contributions specified
2 in item (2) shall be waived.
3 For a former member of a county police department
4 who has received a refund under Section 9-164, periods
5 during which the employee serves as head of an employee
6 association, the membership of which consists of other
7 police officers, provided that the employee contributes
8 to the Fund (1) the amount that he would have contributed
9 had he remained an active member of the county police
10 department in the position he occupied at the time he
11 left service, (2) an amount calculated by the Board
12 representing employer contributions, and (3) regular
13 interest thereon from the date of service to the date of
14 payment. However, if the former member of the county
15 police department retires on or after January 1, 1993 but
16 no later than March 1, 1993, the amount representing
17 employer contributions specified in item (2) shall be
18 waived.
19 (d) Any period of disability for which he received
20 disability benefit or whole or part pay.
21 (e) Accumulated vacation or other time for which an
22 employee who retires on or after November 1, 1990
23 receives a lump sum payment at the time of retirement,
24 provided that contributions were made to the fund at the
25 time such lump sum payment was received. The service
26 granted for the lump sum payment shall not change the
27 employee's date of withdrawal for computing the effective
28 date of the annuity.
29 (f) An employee may receive service credit for
30 annuity purposes for accumulated sick leave as of the
31 date of the employee's withdrawal from service, not to
32 exceed a total of 180 days, provided that the amount of
33 such accumulated sick leave is certified by the County
34 Comptroller to the Board and the employee pays an amount
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1 equal to 8.5% (9% for members of the County Police
2 Department who are eligible to receive an annuity under
3 Section 9-128.1) of the amount that would have been paid
4 had such accumulated sick leave been paid at the
5 employee's final rate of salary. Such payment shall be
6 made within 30 days after the date of withdrawal and
7 prior to receipt of the first annuity check. The service
8 credit granted for such accumulated sick leave shall not
9 change the employee's date of withdrawal for the purpose
10 of computing the effective date of the annuity.
11 (3) In computing the term of service of an employee on
12 or after the effective date for ordinary disability benefit
13 purposes, the following periods of time shall be counted as
14 periods of service:
15 (a) Unless otherwise specified in Section 9-157,
16 the time during which he performed the duties of his
17 position.
18 (b) Paid vacations and leaves of absence with whole
19 or part pay.
20 (c) Any period for which he received duty
21 disability benefit.
22 (d) Any period of disability for which he received
23 whole or part pay.
24 (4) For an employee who on January 1, 1958, was
25 transferred by Act of the 70th General Assembly from his
26 position in a department of welfare of any city located in
27 the county in which this Article is in force and effect to a
28 similar position in a department of such county, service
29 shall also be credited for ordinary disability benefit and
30 child's annuity for such period of department of welfare
31 service during which period he was a contributor to a
32 statutory annuity and benefit fund in such city and for which
33 purposes service credit would otherwise not be credited by
34 virtue of such involuntary transfer.
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1 (5) An employee described in subsection (e) of Section
2 9-108 shall receive credit for child's annuity and ordinary
3 disability benefit for the period of time for which he was
4 credited with service in the fund from which he was
5 involuntarily separated through class or group transfer;
6 provided, that no such credit shall be allowed to the extent
7 that it results in a duplication of credits or benefits, and
8 neither shall such credit be allowed to the extent that it
9 was or may be forfeited by the application for and acceptance
10 of a refund from the fund from which the employee was
11 transferred.
12 (6) Overtime or extra service shall not be included in
13 computing service. Not more than 1 year of service shall be
14 allowed for service rendered during any calendar year.
15 (Source: P.A. 86-1488; 87-794; 87-1265.)
16 Section 90. The State Mandates Act is amended by adding
17 Section 8.24 as follows:
18 (30 ILCS 805/8.24 new)
19 Sec. 8.24. Exempt mandate. Notwithstanding Sections 6
20 and 8 of this Act, no reimbursement by the State is required
21 for the implementation of any mandate created by this
22 amendatory Act of the 91st General Assembly.
23 Section 99. Effective date. This Act takes effect upon
24 becoming law.