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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB4940
Introduced 1/19/2006, by Rep. Angelo Saviano SYNOPSIS AS INTRODUCED:
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40 ILCS 5/7-137.1 |
from Ch. 108 1/2, par. 7-137.1 |
30 ILCS 805/8.30 new |
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Amends the IMRF Article of the Illinois Pension Code. In the provisions
allowing certain annuitants to hold elective office without participating in
the Fund or losing their retirement annuities, allows a separate election for
each term of office. Amends the State Mandates Act to require implementation
without reimbursement. Effective immediately.
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| FISCAL NOTE ACT MAY APPLY |
PENSION IMPACT NOTE ACT MAY APPLY |
STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT |
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A BILL FOR
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HB4940 |
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LRB094 16585 AMC 51846 b |
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| AN ACT in relation to 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 changing |
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| Section
7-137.1 as follows:
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| (40 ILCS 5/7-137.1) (from Ch. 108 1/2, par. 7-137.1)
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| Sec. 7-137.1. Elected officials.
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| (a) A person holding an elective office who has elected
to |
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| participate in the Fund while in that office may revoke that |
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| election
and cease participating in the Fund by notifying the |
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| Board in writing
before January 1, 1992.
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| Upon such revocation, the person shall forfeit all |
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| creditable service
earned while holding that office, and the |
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| Board shall refund to the person,
without interest, all |
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| employee contributions paid for the forfeited
creditable |
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| service. The Board shall also refund or credit to the employing
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| municipality, without interest, the employer contributions |
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| relating to the
forfeited service, except those for death and |
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| disability.
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| (b) Notwithstanding the provisions of Sections 7-141 and |
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| 7-144, beginning
January 1, 1992, a person who holds an |
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| elective office and has not elected to
participate in the Fund |
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| with respect to that term of office (or has revoked
his |
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| election to participate with respect to that term of office |
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| under
subsection (a) of this Section) shall not be disqualified |
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| from receiving a
retirement annuity during that term of office
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| by reason of holding that
such office, provided that the |
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| annuity is not based on any credits received
for participating |
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| during
while holding that term of office.
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| (Source: P.A. 87-740.)
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| Section 90. The State Mandates Act is amended by adding |