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| 1 | AN ACT in relation to public employee benefits.
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| 2 | Be it enacted by the People of the State of Illinois, | ||||||
| 3 | represented in the General Assembly:
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| 4 | Section 5. The Illinois Pension Code is amended by changing | ||||||
| 5 | Section 6-210.1 as follows:
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| 6 | (40 ILCS 5/6-210.1)
(from Ch. 108 1/2, par. 6-210.1)
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| 7 | Sec. 6-210.1. Credit for former employment with the fire | ||||||
| 8 | department.
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| 9 | (a) Any fireman who (1) accumulated service credit in the | ||||||
| 10 | Article 8 fund for
service as an employee of the Chicago Fire | ||||||
| 11 | Department and (2) has terminated
that Article 8 service credit | ||||||
| 12 | and received a refund of contributions therefor,
may establish | ||||||
| 13 | service credit in this Fund for all or any part of that period | ||||||
| 14 | of
service under the Article 8 fund by making written | ||||||
| 15 | application to the Board by
January 1, 2005
2000 and paying to | ||||||
| 16 | this Fund (i) employee contributions based upon
the actual | ||||||
| 17 | salary received and the rates in effect for members of this | ||||||
| 18 | Fund at
the time of such service, plus (ii) interest thereon | ||||||
| 19 | calculated as follows:
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| 20 | (1) For applications received by the Board before July | ||||||
| 21 | 14, 1995, interest shall be calculated
on the amount of | ||||||
| 22 | employee contributions determined under item (i) above, at | ||||||
| 23 | the
rate of 4% per annum, compounded annually, from the | ||||||
| 24 | date of termination of such
service to the date of payment.
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| 25 | (2) For applications received by the Board on or after | ||||||
| 26 | July 14, 1995, interest shall be calculated
on the amount | ||||||
| 27 | of employee contributions determined under item (i) above, | ||||||
| 28 | at the
rate of 4% per annum, compounded annually, from the | ||||||
| 29 | first date of the period
for which credit is being | ||||||
| 30 | established under this subsection (a) to the date of
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| 31 | payment.
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| 32 | A fireman who (1) retired on or after January 16, 2004 and | ||||||
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| 1 | on or before the effective date of this amendatory Act of the | ||||||
| 2 | 93rd General Assembly and (2) files an application to establish | ||||||
| 3 | service credit under this subsection (a) before January 1, | ||||||
| 4 | 2005, shall have his or her pension recalculated prospectively | ||||||
| 5 | to include the service credit established under this subsection | ||||||
| 6 | (a).
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| 7 | (b) A fireman who, at any time during the period 1970 | ||||||
| 8 | through 1983, was
an employee of the Chicago Fire Department | ||||||
| 9 | but did not participate in any
pension fund subject to this | ||||||
| 10 | Code with respect to that employment may establish
service | ||||||
| 11 | credit in this Fund for all or any part of that employment by | ||||||
| 12 | making
written application to the Board by January 1, 2005
and | ||||||
| 13 | paying to
this Fund (i)
employee contributions based upon the | ||||||
| 14 | actual salary received and the rates in
effect for members of | ||||||
| 15 | this Fund at the time of that employment, plus (ii)
interest | ||||||
| 16 | thereon calculated at the rate of 4% per annum, compounded | ||||||
| 17 | annually,
from the first date of the employment for which | ||||||
| 18 | credit is being established
under this subsection (b) to the | ||||||
| 19 | date of payment.
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| 20 | (c) A fireman may pay the contributions required for | ||||||
| 21 | service credit under
this Section established on or after July | ||||||
| 22 | 14, 1995 in the form of payroll deductions, in accordance with
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| 23 | such procedures and limitations as may be established by Board | ||||||
| 24 | rule and any
applicable rules or ordinances of the employer.
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| 25 | (d) Employer contributions shall be transferred as | ||||||
| 26 | provided in Sections
6-210.2 and 8-172.1. The employer shall | ||||||
| 27 | not be responsible for making any
additional employer | ||||||
| 28 | contributions for any credit established under this
Section.
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| 29 | (Source: P.A. 93-654, eff. 1-16-04.)
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| 30 | Section 90. The State Mandates Act is amended by adding | ||||||
| 31 | Section 8.28 as
follows:
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| 32 | (30 ILCS 805/8.28 new)
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| 33 | Sec. 8.28. Exempt mandate. Notwithstanding Sections 6 and 8 | ||||||
| 34 | of this
Act, no reimbursement by the State is required for the | ||||||
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| 1 | implementation of
any mandate created by this amendatory Act of | ||||||
| 2 | the 93rd General Assembly.
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| 3 | Section 99. Effective date. This Act takes effect upon | ||||||
| 4 | becoming law.
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