94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
SB0370


 
Introduced 2/15/2005, by Sen. James A. DeLeo
 
SYNOPSIS AS INTRODUCED:
 		














40 ILCS 5/5-214.2 new






30 ILCS 805/8.29 new









    Amends the Chicago Police Article of the Illinois Pension Code.  Authorizes an active member with at least 5 years of creditable service to establish up to 10 years of additional service credit for certain employment as a law enforcement officer with a downstate municipal police department, the Cook  County  Police Department, the State of Illinois, or the Chicago Housing Authority. Requires the applicant to pay employee and employer contributions, plus interest; permits the use of rollover contributions.  Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
















LRB094 08961 EFG 39182 b

















FISCAL NOTE ACT MAY APPLY


PENSION IMPACT NOTE ACT MAY APPLY


STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT
















 


 


A BILL FOR









 











SB0370

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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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Section 5-214.2 as follows:
 
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    (40 ILCS 5/5-214.2  new)
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    Sec. 5-214.2. Credit for certain law enforcement service. 
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An active policeman in this Fund with  at least 5 years of 
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creditable service may  establish up to 10 years of additional 
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service credit for employment as a police officer in the police 
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department of a municipality as defined in Article 3 of this 
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Code, as a member of the County Police Department under Article 
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9 of this Code, as a State Policeman or other law enforcement 
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officer under the alternative formula (Section 14-110) of 
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Article 14, or as a law enforcement officer with the Chicago 
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Housing Authority, provided that: (1) service credit is not 
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available for that employment under any other provision of this 
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Article; (2) any service credit for that employment received 
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under Article 3, Article 9, Article 14, or any other provision 
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of this Code, or under the retirement plan of the Chicago 
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Housing Authority, has been terminated; and (3) the policeman 
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applies for this credit in writing before January 1, 2007 and 
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pays to the Fund before withdrawal from service an amount to be 
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determined by the Fund, equal to (i) an amount representing 
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employee contributions, based on the annual salary rate 
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received by the policeman at the time of first participating in 
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this Fund after the employment for which service credit is 
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being established and the employee contribution rate then in 
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effect, plus (ii) an amount representing employer 
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contributions, as determined by the Fund, plus (iii) interest 
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at the rate of 4% per year, compounded annually, on items (i) 
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and (ii) from the date of first participating in this Fund 
 


 






SB0370
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LRB094 08961 EFG 39182 b




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after the employment for which service credit is being 
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established to the date of payment. Rollover contributions from 
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other retirement plans qualified under the U.S. Internal 
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Revenue Code of 1986 may be used to make the payment required 
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under this Section.

 
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    Section 90. The State Mandates Act is amended by adding 
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Section 8.29 as
follows:


 
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    (30 ILCS 805/8.29 new)

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    Sec. 8.29. Exempt mandate. Notwithstanding Sections 6 and 8 
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of this
Act, no reimbursement by the State is required for the 
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implementation of
any mandate created by this amendatory Act of 
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the 94th General Assembly.

 

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