SB1958 Engrossed LRB095 16320 AMC 42344 b

1     AN ACT concerning 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 changing
5 Section 7-168 as follows:
 
6     (40 ILCS 5/7-168)  (from Ch. 108 1/2, par. 7-168)
7     Sec. 7-168. Separation benefits - Amount. The amount of the
8 separation benefits shall be the sum of the employee's
9 accumulated normal, survivor and additional contributions,
10 plus interest at 50% of the prescribed rate of interest per
11 annum from the date of enrollment to the date of termination of
12 participation.
13 (Source: P.A. 87-740.)
 
14     Section 90. The State Mandates Act is amended by adding
15 Section 8.32 as follows:
 
16     (30 ILCS 805/8.32 new)
17     Sec. 8.32. Exempt mandate. Notwithstanding Sections 6 and 8
18 of this Act, no reimbursement by the State is required for the
19 implementation of any mandate created by this amendatory Act of
20 the 95th General Assembly.
 

 

 

SB1958 Engrossed - 2 - LRB095 16320 AMC 42344 b

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