093_HB3155
LRB093 02655 LRD 02665 b
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 14-104.6 and 14-108.2 as follows:
6 (40 ILCS 5/14-104.6) (from Ch. 108 1/2, par. 14-104.6)
7 Sec. 14-104.6. Service transferred from Article 16.
8 Service also includes the following:
9 (a) Any period as a teacher employed by the Department
10 of Corrections for which credit was established under Article
11 16 of this Code, subject to the following conditions: (1) the
12 credits accrued for such employment under Article 16 have
13 been transferred to this System; and (2) the participant has
14 contributed to this System an amount equal to (A) employee
15 contributions at the rate in effect for noncoordinated
16 eligible creditable service at the date of membership in this
17 System, based upon the salary in effect during such period of
18 service, plus (B) the employer's share of the normal cost
19 under this System for each year that credit is being
20 established, based on the salary in effect during such period
21 of service, plus (C) regular interest, compounded annually,
22 from July 1, 1987 (January 1, 2004 if the person becomes a
23 member in December, 2003) to the date of payment, less (D)
24 the amount transferred on behalf of the participant under
25 Section 16-131.6.
26 (b) Any period as a security employee of the Department
27 of Human Services, as defined in Section 14-110, for which
28 credit was established under Article 16 of this Code, subject
29 to the following conditions: (1) the credits accrued for that
30 employment under Article 16 have been transferred to this
31 System; and (2) the participant has contributed to this
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1 System an amount equal to (A) employee contributions at the
2 rate in effect for noncoordinated eligible creditable service
3 at the date of membership in this System, based upon the
4 salary in effect during the period of service, plus (B) the
5 employer's share of the normal cost under this System for
6 each year that credit is being established, based on the
7 salary in effect during the period of service, plus (C)
8 regular interest, compounded annually, from July 1, 2001 to
9 the date of payment, less (D) the amount transferred on
10 behalf of the participant under Section 16-131.6.
11 (c) Credit established under this Section shall be
12 deemed noncoordinated eligible creditable service as defined
13 in Section 14-110.
14 (Source: P.A. 92-14, eff. 6-28-01.)
15 (40 ILCS 5/14-108.2) (from Ch. 108 1/2, par. 14-108.2)
16 Sec. 14-108.2. Any person employed by the Department of
17 Corrections who is a member of the Teachers' Retirement
18 System established under Article 16 of this Code may elect to
19 become a member of this System on either December 1, 2003
20 June 1, 1987 or December 15, 2003 July 1, 1987, by notifying
21 the board of his election in writing on or before November
22 30, 2003 May 31, 1987.
23 For such persons electing to become covered employees,
24 participation in the Article 16 system shall terminate on
25 December 1, 2003 June 1, 1987, and membership in this System
26 shall begin on that date.
27 For such persons electing to become noncovered employees,
28 participation in the Article 16 system shall terminate on
29 December 15, 2003 July 1, 1987, and membership in this System
30 shall begin on that date.
31 (Source: P.A. 84-1472.)
32 Section 99. Effective date. This Act takes effect upon
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1 becoming law.