HB4274 Engrossed

LRB094 15583 AMC 50783 b






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    AN ACT concerning public employee benefits.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:


 
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    Section 5. The Illinois Pension Code is amended  by adding 
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Sections 14-104.13 and 14-152.2 as follows:
 
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    (40 ILCS 5/14-104.13 new)

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    Sec. 14-104.13. University of Illinois Government Public 
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Service Internship (GPSI) Program. An employee who 
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participated in the University of Illinois Government Public 
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Service Internship (GPSI) Program may establish creditable 
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service for up to 2 years of that participation by applying in 
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writing and paying to the System an amount equal to (1) 
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employee contributions for the period for which credit is being 
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established, based upon the employee's compensation and the 
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applicable contribution rate in effect on the date he or she 
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last became a member of the System, plus (2) the employer's 
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normal cost of the credit established, plus (3) interest on the 
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amounts in items (1) and (2) at the regular interest rate, 
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compounded annually from the date the applicant last became a 
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member of the System to the date of payment. Credit may not be 
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established under this Section for any period for which service 
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credit is established under any other provision of this Code.
 
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    (40 ILCS 5/14-152.2 new)

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    Sec. 14-152.2. New benefit increases. The General Assembly 
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finds and declares that the addition of Section 14-104.13 in 
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this amendatory Act of the 94th General Assembly that allows a 
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member  who participated in the University of Illinois 
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Government Public Service Internship (GPSI) Program to  
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establish creditable service for up to 2 years of that 
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participation constitutes a new benefit increase within the 
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meaning of Section 14-152.1.  This new benefit increase expires 
 


 






HB4274 Engrossed
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LRB094 15583 AMC 50783 b




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5 years after the effective date of this amendatory Act.  No 
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additional funding under Section 14-152.1 for this new benefit 
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increase is required  because the cost for the new benefit 
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increase is paid by the member as provided in Section 
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14-104.13.

 

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    Section 99. Effective date. This Act takes effect upon 
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becoming law.