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90_HB0931
Amends the Cook County Article of the Pension Code to
extend the expiration of the program of optional
contributions until July 1, 2002. Amends the State Mandates
Act to require implementation without reimbursement.
Effective immediately.
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1 AN ACT to amend the Illinois Pension Code by changing
2 Section 9-179.3 and to amend the State 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 changing Section 9-179.3 as follows:
7 (40 ILCS 5/9-179.3) (from Ch. 108 1/2, par. 9-179.3)
8 Sec. 9-179.3. Optional plan of additional benefits and
9 contributions.
10 (a) While this plan is in effect, an employee may
11 establish additional optional credit for additional optional
12 benefits by electing in writing at any time to make
13 additional optional contributions. The employee may
14 discontinue making the additional optional contributions at
15 any time by notifying the fund in writing.
16 (b) Additional optional contributions for the additional
17 optional benefits shall be as follows:
18 (1) For service after the option is elected, an
19 additional contribution of 3% of salary shall be
20 contributed to the fund on the same basis and under the
21 same conditions as contributions required under Sections
22 9-170 and 9-176.
23 (2) For service before the option is elected, an
24 additional contribution of 3% of the salary for the
25 applicable period of service, plus interest at the
26 effective rate from the date of service to the date of
27 payment. All payments for past service must be paid in
28 full before credit is given. No additional optional
29 contributions may be made for any period of service for
30 which credit has been previously forfeited by acceptance
31 of a refund, unless the refund is repaid in full with
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1 interest at the effective rate from the date of refund to
2 the date of repayment.
3 (c) Additional optional benefits shall accrue for all
4 periods of eligible service for which additional
5 contributions are paid in full. The additional benefit shall
6 consist of an additional 1% for each year of service for
7 which optional contributions have been paid, based on the
8 highest average annual salary for any 4 consecutive years
9 within the last 10 years of service immediately preceding the
10 date of withdrawal, to be added to the employee retirement
11 annuity benefits as otherwise computed under this Article.
12 The calculation of these additional benefits shall be subject
13 to the same terms and conditions as are used in the
14 calculation of retirement annuity under Section 9-134. The
15 additional benefit shall be included in the calculation of
16 the automatic annual increase in annuity, and in the
17 calculation of widow's annuity, where applicable. However no
18 additional benefits will be granted which produce a total
19 annuity greater than the applicable maximum established for
20 that type of annuity in this Article, and additional benefits
21 shall not apply to any benefit computed under Section
22 9-128.1.
23 (d) Refunds of additional optional contributions shall
24 be made on the same basis and under the same conditions as
25 provided under Sections 9-164, 9-166 and 9-167. Interest
26 shall be credited at the effective rate on the same basis and
27 under the same conditions as for other contributions.
28 (e) Optional contributions shall be accounted for in a
29 separate Optional Contribution Reserve.
30 (f) The tax levy, computed under Section 9-169, shall be
31 based on employee contributions including the amount of
32 optional additional employee contributions.
33 (g) Service eligible under this Section may include only
34 service as an employee of the County as defined in Section
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1 9-108, and subject to Sections 9-219 and 9-220. No service
2 granted under Section 9-121.1, 9-121.4 or 9-179.2 shall be
3 eligible for optional service credit. No optional service
4 credit may be established for any military service, or for
5 any service under any other Article of this Code. Optional
6 service credit may be established for any period of
7 disability paid from this fund, if the employee makes
8 additional optional contributions for such periods of
9 disability.
10 (h) This plan of optional benefits and contributions
11 shall not apply to any former county employee receiving an
12 annuity from the fund, who re-enters service as a County
13 employee, unless he renders at least 3 years of additional
14 service after the date of re-entry.
15 (i) The effective date of the optional plan of
16 additional benefits and contributions shall be July 1, 1985,
17 or the date upon which approval is received from the Internal
18 Revenue Service, whichever is later.
19 (j) This plan of additional benefits and contributions
20 shall expire July 1, 2002 1997. No additional contributions
21 may be made after that date, and no additional benefits will
22 accrue after that date.
23 (Source: P.A. 86-1027; 87-794.)
24 Section 90. The State Mandates Act is amended by adding
25 Section 8.21 as follows:
26 (30 ILCS 805/8.21 new)
27 Sec. 8.21. Exempt mandate. Notwithstanding Sections 6
28 and 8 of this Act, no reimbursement by the State is required
29 for the implementation of any mandate created by this
30 amendatory Act of 1997.
31 Section 99. Effective date. This Act takes effect upon
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1 becoming law.
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