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Public Act 102-0113


 

Public Act 0113 102ND GENERAL ASSEMBLY

  
  
  

 


 
Public Act 102-0113
 
HB0126 EnrolledLRB102 02770 RPS 12777 b

    AN ACT concerning public employee benefits.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The Illinois Pension Code is amended by
changing Section 3-110.10 and by adding Section 7-139.14 as
follows:
 
    (40 ILCS 5/3-110.10)
    Sec. 3-110.10. Transfer from Article 7. Until January 1,
2009, a person may transfer to a fund established under this
Article up to 8 years of creditable service accumulated under
Article 7 of this Code upon payment to the fund of an amount to
be determined by the board, equal to (i) the difference
between the amount of employee and employer contributions
transferred to the fund under Section 7-139.11 and the amounts
that would have been contributed had such contributions been
made at the rates applicable to an employee under this
Article, plus (ii) interest thereon at the actuarially assumed
rate, compounded annually, from the date of service to the
date of payment.
    No later than 6 months after the effective date of this
amendatory Act of the 102nd General Assembly, a person may
transfer to a fund established under this Article creditable
service accumulated under Article 7 of this Code for service
as a sheriff's law enforcement employee, person employed by a
participating municipality to perform police duties, or law
enforcement officer employed on a full-time basis by a forest
preserve district upon payment to the fund of an amount to be
determined by the board, equal to (i) the difference between
the amount of employee and employer contributions transferred
to the fund under Section 7-139.14 and the amounts that would
have been contributed had such contributions been made at the
rates applicable to an employee under this Article, plus (ii)
interest thereon at the actuarially assumed rate, compounded
annually, from the date of service to the date of payment.
(Source: P.A. 95-530, eff. 8-28-07; 95-876, eff. 8-21-08;
95-1036, eff. 2-17-09.)
 
    (40 ILCS 5/7-139.14 new)
    Sec. 7-139.14. Transfer to Article 3 pension fund.
    (a) Within 6 months after the effective date of this
amendatory Act of the 102nd General Assembly, an active member
of a pension fund established under Article 3 of this Code may
apply for transfer to that Article 3 pension fund of his or her
credits and creditable service accumulated in this Fund for
service as a sheriff's law enforcement employee, person
employed by a participating municipality to perform police
duties, or law enforcement officer employed on a full-time
basis by a forest preserve district. The creditable service
shall be transferred only upon payment by this Fund to such
Article 3 pension fund of an amount equal to:
        (1) the amounts accumulated to the credit of the
    applicant for the service to be transferred, including
    interest; and
        (2) an amount representing employer contributions,
    equal to the total amount determined under item (1); and
        (3) any interest paid by the applicant to reinstate
    such service.
    Participation in this Fund as to any credits transferred
under this Section shall terminate on the date of transfer.
    (b) Notwithstanding any other provision of this Code, any
person applying to transfer service under this Section may
reinstate credits and creditable service terminated upon
receipt of a separation benefit by paying to the Fund the
amount of the separation benefit plus interest thereon at the
actuarially assumed rate of interest to the date of payment.
Such payment must be made within 90 days after notification by
the Fund of the cost of such reinstatement.
 
    Section 90. The State Mandates Act is amended by adding
Section 8.45 as follows:
 
    (30 ILCS 805/8.45 new)
    Sec. 8.45. Exempt mandate. Notwithstanding Sections 6 and
8 of this Act, no reimbursement by the State is required for
the implementation of any mandate created by this amendatory
Act of the 102nd General Assembly.
 
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 7/23/2021