99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
HB3424

 

Introduced , by Rep. Thomas Morrison

 

SYNOPSIS AS INTRODUCED:
 
See Index

    Amends the Illinois Pension Code. Provides that the 5 State-funded retirement systems shall establish self-directed retirement plans for all active participants. Provides that, except for certain annuitants who have 30 years of service credit, an annuitant shall not receive an automatic increase in retirement annuity. Requires the Public Pension Division of the Department of Insurance to develop a schedule that, subject to certain requirements, increases the minimum retirement age of active participants who are ineligible to retire as of the effective date of the amendatory Act. Provides that the Division's schedule shall also provide for the adjustment of minimum retirement ages using a matrix that (i) takes into account the current statutory retirement age for various classes of persons and service credit accrued by those persons and (ii) proportionally discounts the increase in statutory retirement ages based on proximity to the currently established minimum retirement age. Requires a participant, except for a participant who is a covered employee under the State Employee Article, to contribute 8% of his or her compensation to the plan and requires the employer to contribute 7% of the participant's compensation to the plan. Establishes a schedule for vesting in employer contributions. Beginning State fiscal year 2016, makes changes to the prescribed funding formulas for the 5 State-funded retirement systems.


LRB099 02641 RPS 22647 b

FISCAL NOTE ACT MAY APPLY
PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB3424LRB099 02641 RPS 22647 b

1    AN ACT concerning public employee benefits.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Pension Code is amended by adding
5Section 1-161 and by changing Sections 2-124, 2-134, 14-131,
614-135.08, 15-155, 15-165, 16-158, 18-131, and 18-140 as
7follows:
 
8    (40 ILCS 5/1-161 new)
9    Sec. 1-161. Pension benefits, end of service credit;
10self-directed retirement plans.
11    (a) For the purposes of this Section:
12        "Active participant" means a person who participates
13    in a State-funded retirement system with respect to service
14    on or after the effective date of this amendatory Act of
15    the 99th General Assembly.
16        "Annuitant" means a person in a State-funded
17    retirement system who receives a retirement annuity from a
18    State-funded retirement system.
19        "Automatic increase in retirement annuity" means an
20    automatic increase in retirement annuity granted under
21    Section 1-160 or Article 2, 14, 15, 16, or 18 of this Code.
22        "State-funded retirement system" means a retirement
23    system established under Article 2, 14, 15, 16, or 18 of

 

 

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1    this Code.
2    (b) An active participant shall participate in the
3self-directed retirement plan established under subsection (e)
4with respect to service on or after the effective date of this
5amendatory Act of the 99th General Assembly.
6    The vested and non-vested benefits that an active
7participant accrued based on the service credit accrued prior
8to the effective date of this amendatory Act of the 99th
9General Assembly shall be paid to the participant based on the
10participant's final average salary as determined by the
11applicable State-funded retirement system.
12    (c) No annuitant shall receive an automatic increase in
13retirement annuity, except for an annuitant who has at least 30
14years of service credit. No annuitant with at least 30 years of
15service credit shall receive an automatic increase in
16retirement annuity for a year in which the annuitant's annual
17retirement annuity is equal to or greater than the maximum
18retirement benefit under the federal Social Security Act.
19Automatic increases in retirement annuities shall not apply to
20active participants with respect to participation in a
21self-directed retirement plan established under subsection (e)
22of this Section.
23    (d) The minimum retirement age of active participants who
24are ineligible to retire as of the effective date of this
25amendatory Act of the 99th General Assembly shall be increased
26according to a schedule developed by the Public Pension

 

 

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1Division of the Department of Insurance as soon as practicable
2after the effective date of this amendatory Act of the 99th
3General Assembly. The schedule of the minimum retirement ages
4adopted by administrative rule of the Division shall, at a
5minimum, ensure (i) that persons who first become active
6participants on or after the effective date of this amendatory
7Act of the 99th General Assembly are not eligible to retire
8until reaching the Social Security Normal Retirement Age and
9(ii) that persons who are active participants but ineligible to
10retire as of the effective date of this amendatory Act of the
1199th General Assembly remain ineligible to retire until
12reaching age 59. The Division's schedule shall also provide for
13the adjustment of minimum retirement ages using a matrix (i)
14that takes into account the current statutory retirement age
15for various classes of persons and service credit accrued by
16those persons as of the effective date of this amendatory Act
17of the 99th General Assembly and (ii) that proportionally
18discounts the increase in statutory retirement age based on
19proximity to the currently established minimum retirement age.
20The minimum retirement age established under this subsection
21(d) shall not apply to active participants with respect to
22participation in a self-directed retirement plan established
23under subsection (e) of this Section.
24    (e) As soon as practicable after the effective date of this
25amendatory Act of the 99th General Assembly, each State-funded
26retirement system shall establish a self-directed retirement

 

 

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1plan that allows individuals who are active participants and
2individuals who become active participants on or after the
3effective date of this amendatory Act of the 99th General
4Assembly the opportunity to accumulate assets for retirement
5through a combination of employee and employer contributions
6that may be invested in mutual funds, collective investment
7funds, or other investment products and used to purchase
8annuity contracts, either fixed or variable or a combination
9thereof. The plan must be qualified under the Internal Revenue
10Code of 1986.
11    At any time after withdrawal from service, a participant in
12the self-directed retirement plan shall be entitled to a
13benefit that is based on the account values attributable to his
14or her participant contributions and the vested percentage of
15employer contributions, as well as any investment returns
16attributable to those contributions. A participant becomes
17vested in the employer's contributions credited to his or her
18account according to the following schedule:
19        (1) if the participant has completed less than 2 years
20    of service under the applicable affected retirement system
21    (including service under any participating system if the
22    participant elects to use the reciprocal provisions of
23    Article 20), 0%;
24        (2) if the participant has completed at least 2 but
25    less than 3 years of such service, 25%;
26        (3) if the participant has completed at least 3 but

 

 

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1    less than 4 years of such service, 50%;
2        (4) if the participant has completed at least 4 but
3    less than 5 years of such service, 75%; and
4        (5) if the participant has completed at least 5 years
5    of such service, 100%.
6At the time of taking a benefit under the self-directed
7retirement plan, any employer contributions that have not
8vested, and the investment returns attributable to those
9unvested employer contributions, shall be forfeited. Employer
10contributions that are forfeited shall be held in escrow by the
11company investing those contributions and shall be used, as
12directed by the applicable affected retirement system, for
13future allocations of employer contributions.
14    (f) For service after the effective date of this amendatory
15Act of the 99th General Assembly, each active participant in
16the retirement system established under Article 14 of this Code
17who is a noncovered employee and each active participant in a
18retirement system established under Article 2, 15, 16, or 18 of
19this Code shall contribute 8% of his or her salary, earnings,
20or compensation, whichever is applicable, to the plan in lieu
21of the contributions otherwise required under the applicable
22State-funded retirement system. For service after the
23effective date of this amendatory Act of the 99th General
24Assembly, the employer of each of those active participants
25shall contribute 7% of salary, earnings, or compensation,
26whichever is applicable, to that plan on behalf of the

 

 

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1participant.
2    For service after the effective date of this amendatory Act
3of the 99th General Assembly, each active participant in the
4retirement system established under Article 14 who is a covered
5employee shall contribute 3% of compensation to the plan. The
6employer of each of those participants shall contribute 3% of
7compensation to the self-directed retirement plan on behalf of
8the participant.
9    (g) The provisions of this amendatory Act of the 99th
10General Assembly apply notwithstanding any other law,
11including Section 1-160 of this Code. If there is a conflict
12between the provisions of this amendatory Act of the 99th
13General Assembly and any other law, the provisions of this
14Section shall control.
 
15    (40 ILCS 5/2-124)  (from Ch. 108 1/2, par. 2-124)
16    Sec. 2-124. Contributions by State.
17    (a) The State shall make contributions to the System by
18appropriations of amounts which, together with the
19contributions of participants, interest earned on investments,
20and other income will meet the cost of maintaining and
21administering the System on a 100% funded basis in accordance
22with actuarial recommendations by the end of State fiscal year
232044.
24    (b) The Board shall determine the amount of State
25contributions required for each fiscal year on the basis of the

 

 

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1actuarial tables and other assumptions adopted by the Board and
2the prescribed rate of interest, using the formula in
3subsection (c).
4    (c) For State fiscal years 2016 through 2045, the minimum
5contribution to the System to be made by the State for each
6fiscal year shall be an amount determined by the System to be
7sufficient to bring the total assets of the System up to 100%
8of the total actuarial liabilities of the System by the end of
9State fiscal year 2045. In making these determinations, the
10required State contribution shall be calculated each year as a
11level dollar amount over the years remaining to and including
12fiscal year 2045 and shall be determined under the entry age
13normal actuarial cost method.
14     For State fiscal year years 2015 through 2044, the minimum
15contribution to the System to be made by the State for the each
16fiscal year shall be an amount determined by the System to be
17equal to the sum of (1) the State's portion of the projected
18normal cost for that fiscal year, plus (2) an amount sufficient
19to bring the total assets of the System up to 100% of the total
20actuarial liabilities of the System by the end of State fiscal
21year 2044. In making these determinations, the required State
22contribution shall be calculated each year as a level
23percentage of payroll over the years remaining to and including
24fiscal year 2044 and shall be determined under the projected
25unit cost method for fiscal year 2015 and under the entry age
26normal actuarial cost method for fiscal years 2016 through

 

 

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12044.
2    For State fiscal years 2012 through 2014, the minimum
3contribution to the System to be made by the State for each
4fiscal year shall be an amount determined by the System to be
5sufficient to bring the total assets of the System up to 90% of
6the total actuarial liabilities of the System by the end of
7State fiscal year 2045. In making these determinations, the
8required State contribution shall be calculated each year as a
9level percentage of payroll over the years remaining to and
10including fiscal year 2045 and shall be determined under the
11projected unit credit actuarial cost method.
12    For State fiscal years 1996 through 2005, the State
13contribution to the System, as a percentage of the applicable
14employee payroll, shall be increased in equal annual increments
15so that by State fiscal year 2011, the State is contributing at
16the rate required under this Section.
17    Notwithstanding any other provision of this Article, the
18total required State contribution for State fiscal year 2006 is
19$4,157,000.
20    Notwithstanding any other provision of this Article, the
21total required State contribution for State fiscal year 2007 is
22$5,220,300.
23    For each of State fiscal years 2008 through 2009, the State
24contribution to the System, as a percentage of the applicable
25employee payroll, shall be increased in equal annual increments
26from the required State contribution for State fiscal year

 

 

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12007, so that by State fiscal year 2011, the State is
2contributing at the rate otherwise required under this Section.
3    Notwithstanding any other provision of this Article, the
4total required State contribution for State fiscal year 2010 is
5$10,454,000 and shall be made from the proceeds of bonds sold
6in fiscal year 2010 pursuant to Section 7.2 of the General
7Obligation Bond Act, less (i) the pro rata share of bond sale
8expenses determined by the System's share of total bond
9proceeds, (ii) any amounts received from the General Revenue
10Fund in fiscal year 2010, and (iii) any reduction in bond
11proceeds due to the issuance of discounted bonds, if
12applicable.
13    Notwithstanding any other provision of this Article, the
14total required State contribution for State fiscal year 2011 is
15the amount recertified by the System on or before April 1, 2011
16pursuant to Section 2-134 and shall be made from the proceeds
17of bonds sold in fiscal year 2011 pursuant to Section 7.2 of
18the General Obligation Bond Act, less (i) the pro rata share of
19bond sale expenses determined by the System's share of total
20bond proceeds, (ii) any amounts received from the General
21Revenue Fund in fiscal year 2011, and (iii) any reduction in
22bond proceeds due to the issuance of discounted bonds, if
23applicable.
24    Beginning in State fiscal year 2046 2045, the minimum State
25contribution for each fiscal year shall be the amount needed to
26maintain the total assets of the System at 100% of the total

 

 

HB3424- 10 -LRB099 02641 RPS 22647 b

1actuarial liabilities of the System.
2    Amounts received by the System pursuant to Section 25 of
3the Budget Stabilization Act or Section 8.12 of the State
4Finance Act in any fiscal year do not reduce and do not
5constitute payment of any portion of the minimum State
6contribution required under this Article in that fiscal year.
7Such amounts shall not reduce, and shall not be included in the
8calculation of, the required State contributions under this
9Article in any future year until the System has reached a
10funding ratio of at least 100%. A reference in this Article to
11the "required State contribution" or any substantially similar
12term does not include or apply to any amounts payable to the
13System under Section 25 of the Budget Stabilization Act.
14    Notwithstanding any other provision of this Section, the
15required State contribution for State fiscal year 2005 and for
16fiscal year 2008 and each fiscal year thereafter through State
17fiscal year 2014, as calculated under this Section and
18certified under Section 2-134, shall not exceed an amount equal
19to (i) the amount of the required State contribution that would
20have been calculated under this Section for that fiscal year if
21the System had not received any payments under subsection (d)
22of Section 7.2 of the General Obligation Bond Act, minus (ii)
23the portion of the State's total debt service payments for that
24fiscal year on the bonds issued in fiscal year 2003 for the
25purposes of that Section 7.2, as determined and certified by
26the Comptroller, that is the same as the System's portion of

 

 

HB3424- 11 -LRB099 02641 RPS 22647 b

1the total moneys distributed under subsection (d) of Section
27.2 of the General Obligation Bond Act. In determining this
3maximum for State fiscal years 2008 through 2010, however, the
4amount referred to in item (i) shall be increased, as a
5percentage of the applicable employee payroll, in equal
6increments calculated from the sum of the required State
7contribution for State fiscal year 2007 plus the applicable
8portion of the State's total debt service payments for fiscal
9year 2007 on the bonds issued in fiscal year 2003 for the
10purposes of Section 7.2 of the General Obligation Bond Act, so
11that, by State fiscal year 2011, the State is contributing at
12the rate otherwise required under this Section.
13    (d) For purposes of determining the required State
14contribution to the System, the value of the System's assets
15shall be equal to the actuarial value of the System's assets,
16which shall be calculated as follows:
17    As of June 30, 2008, the actuarial value of the System's
18assets shall be equal to the market value of the assets as of
19that date. In determining the actuarial value of the System's
20assets for fiscal years after June 30, 2008, any actuarial
21gains or losses from investment return incurred in a fiscal
22year shall be recognized in equal annual amounts over the
235-year period following that fiscal year.
24    (e) For purposes of determining the required State
25contribution to the system for a particular year, the actuarial
26value of assets shall be assumed to earn a rate of return equal

 

 

HB3424- 12 -LRB099 02641 RPS 22647 b

1to the system's actuarially assumed rate of return.
2(Source: P.A. 97-813, eff. 7-13-12; 98-599, eff. 6-1-14.)
 
3    (40 ILCS 5/2-134)   (from Ch. 108 1/2, par. 2-134)
4    Sec. 2-134. To certify required State contributions and
5submit vouchers.
6    (a) The Board shall certify to the Governor on or before
7December 15 of each year until December 15, 2011 the amount of
8the required State contribution to the System for the next
9fiscal year and shall specifically identify the System's
10projected State normal cost for that fiscal year. The
11certification shall include a copy of the actuarial
12recommendations upon which it is based and shall specifically
13identify the System's projected State normal cost for that
14fiscal year.
15    On or before November 1 of each year, beginning November 1,
162012, the Board shall submit to the State Actuary, the
17Governor, and the General Assembly a proposed certification of
18the amount of the required State contribution to the System for
19the next fiscal year, along with all of the actuarial
20assumptions, calculations, and data upon which that proposed
21certification is based. On or before January 1 of each year
22beginning January 1, 2013, the State Actuary shall issue a
23preliminary report concerning the proposed certification and
24identifying, if necessary, recommended changes in actuarial
25assumptions that the Board must consider before finalizing its

 

 

HB3424- 13 -LRB099 02641 RPS 22647 b

1certification of the required State contributions. On or before
2January 15, 2013 and every January 15 thereafter, the Board
3shall certify to the Governor and the General Assembly the
4amount of the required State contribution for the next fiscal
5year. The Board's certification must note any deviations from
6the State Actuary's recommended changes, the reason or reasons
7for not following the State Actuary's recommended changes, and
8the fiscal impact of not following the State Actuary's
9recommended changes on the required State contribution.
10    On or before May 1, 2004, the Board shall recalculate and
11recertify to the Governor the amount of the required State
12contribution to the System for State fiscal year 2005, taking
13into account the amounts appropriated to and received by the
14System under subsection (d) of Section 7.2 of the General
15Obligation Bond Act.
16    On or before July 1, 2005, the Board shall recalculate and
17recertify to the Governor the amount of the required State
18contribution to the System for State fiscal year 2006, taking
19into account the changes in required State contributions made
20by this amendatory Act of the 94th General Assembly.
21    On or before April 1, 2011, the Board shall recalculate and
22recertify to the Governor the amount of the required State
23contribution to the System for State fiscal year 2011, applying
24the changes made by Public Act 96-889 to the System's assets
25and liabilities as of June 30, 2009 as though Public Act 96-889
26was approved on that date.

 

 

HB3424- 14 -LRB099 02641 RPS 22647 b

1    (a-5) For purposes of Section (c-5) of Section 20 of the
2Budget Stabilization Act, on or before November 1 of each year
3beginning November 1, 2014, the Board shall determine the
4amount of the State contribution to the System that would have
5been required for the next fiscal year if this amendatory Act
6of the 98th General Assembly had not taken effect, using the
7best and most recent available data but based on the law in
8effect on May 31, 2014. The Board shall submit to the State
9Actuary, the Governor, and the General Assembly a proposed
10certification, along with the relevant law, actuarial
11assumptions, calculations, and data upon which that
12certification is based. On or before January 1, 2015 and every
13January 1 thereafter, the State Actuary shall issue a
14preliminary report concerning the proposed certification and
15identifying, if necessary, recommended changes in actuarial
16assumptions that the Board must consider before finalizing its
17certification. On or before January 15, 2015 and every January
181 thereafter, the Board shall certify to the Governor and the
19General Assembly the amount of the State contribution to the
20System that would have been required for the next fiscal year
21if this amendatory Act of the 98th General Assembly had not
22taken effect, using the best and most recent available data but
23based on the law in effect on May 31, 2014. The Board's
24certification must note any deviations from the State Actuary's
25recommended changes, the reason or reasons for not following
26the State Actuary's recommended changes, and the impact of not

 

 

HB3424- 15 -LRB099 02641 RPS 22647 b

1following the State Actuary's recommended changes.
2    (a-6) As soon as practical after the effective date of this
3amendatory Act of the 99th General Assembly, the State Actuary
4and the Board shall recalculate and recertify to the Governor
5and the General Assembly the amount of the State contribution
6to the System for State fiscal year 2016, taking into account
7the changes in required State contributions made by this
8amendatory Act of the 99th General Assembly.
9    (b) Beginning in State fiscal year 1996, on or as soon as
10possible after the 15th day of each month the Board shall
11submit vouchers for payment of State contributions to the
12System, in a total monthly amount of one-twelfth of the
13required annual State contribution certified under subsection
14(a). From the effective date of this amendatory Act of the 93rd
15General Assembly through June 30, 2004, the Board shall not
16submit vouchers for the remainder of fiscal year 2004 in excess
17of the fiscal year 2004 certified contribution amount
18determined under this Section after taking into consideration
19the transfer to the System under subsection (d) of Section
206z-61 of the State Finance Act. These vouchers shall be paid by
21the State Comptroller and Treasurer by warrants drawn on the
22funds appropriated to the System for that fiscal year. If in
23any month the amount remaining unexpended from all other
24appropriations to the System for the applicable fiscal year
25(including the appropriations to the System under Section 8.12
26of the State Finance Act and Section 1 of the State Pension

 

 

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1Funds Continuing Appropriation Act) is less than the amount
2lawfully vouchered under this Section, the difference shall be
3paid from the General Revenue Fund under the continuing
4appropriation authority provided in Section 1.1 of the State
5Pension Funds Continuing Appropriation Act.
6    (c) The full amount of any annual appropriation for the
7System for State fiscal year 1995 shall be transferred and made
8available to the System at the beginning of that fiscal year at
9the request of the Board. Any excess funds remaining at the end
10of any fiscal year from appropriations shall be retained by the
11System as a general reserve to meet the System's accrued
12liabilities.
13(Source: P.A. 97-694, eff. 6-18-12; 98-599, eff. 6-1-14.)
 
14    (40 ILCS 5/14-131)
15    Sec. 14-131. Contributions by State.
16    (a) The State shall make contributions to the System by
17appropriations of amounts which, together with other employer
18contributions from trust, federal, and other funds, employee
19contributions, investment income, and other income, will be
20sufficient to meet the cost of maintaining and administering
21the System on a 100% funded basis in accordance with actuarial
22recommendations by the end of State fiscal year 2044.
23    For the purposes of this Section and Section 14-135.08,
24references to State contributions refer only to employer
25contributions and do not include employee contributions that

 

 

HB3424- 17 -LRB099 02641 RPS 22647 b

1are picked up or otherwise paid by the State or a department on
2behalf of the employee.
3    (b) The Board shall determine the total amount of State
4contributions required for each fiscal year on the basis of the
5actuarial tables and other assumptions adopted by the Board,
6using the formula in subsection (e).
7    The Board shall also determine a State contribution rate
8for each fiscal year, expressed as a percentage of payroll,
9based on the total required State contribution for that fiscal
10year (less the amount received by the System from
11appropriations under Section 8.12 of the State Finance Act and
12Section 1 of the State Pension Funds Continuing Appropriation
13Act, if any, for the fiscal year ending on the June 30
14immediately preceding the applicable November 15 certification
15deadline), the estimated payroll (including all forms of
16compensation) for personal services rendered by eligible
17employees, and the recommendations of the actuary.
18    For the purposes of this Section and Section 14.1 of the
19State Finance Act, the term "eligible employees" includes
20employees who participate in the System, persons who may elect
21to participate in the System but have not so elected, persons
22who are serving a qualifying period that is required for
23participation, and annuitants employed by a department as
24described in subdivision (a)(1) or (a)(2) of Section 14-111.
25    (c) Contributions shall be made by the several departments
26for each pay period by warrants drawn by the State Comptroller

 

 

HB3424- 18 -LRB099 02641 RPS 22647 b

1against their respective funds or appropriations based upon
2vouchers stating the amount to be so contributed. These amounts
3shall be based on the full rate certified by the Board under
4Section 14-135.08 for that fiscal year. From the effective date
5of this amendatory Act of the 93rd General Assembly through the
6payment of the final payroll from fiscal year 2004
7appropriations, the several departments shall not make
8contributions for the remainder of fiscal year 2004 but shall
9instead make payments as required under subsection (a-1) of
10Section 14.1 of the State Finance Act. The several departments
11shall resume those contributions at the commencement of fiscal
12year 2005.
13    (c-1) Notwithstanding subsection (c) of this Section, for
14fiscal years 2010, 2012, 2013, 2014, and 2015 only,
15contributions by the several departments are not required to be
16made for General Revenue Funds payrolls processed by the
17Comptroller. Payrolls paid by the several departments from all
18other State funds must continue to be processed pursuant to
19subsection (c) of this Section.
20    (c-2) For State fiscal years 2010, 2012, 2013, 2014, and
212015 only, on or as soon as possible after the 15th day of each
22month, the Board shall submit vouchers for payment of State
23contributions to the System, in a total monthly amount of
24one-twelfth of the fiscal year General Revenue Fund
25contribution as certified by the System pursuant to Section
2614-135.08 of the Illinois Pension Code.

 

 

HB3424- 19 -LRB099 02641 RPS 22647 b

1    (d) If an employee is paid from trust funds or federal
2funds, the department or other employer shall pay employer
3contributions from those funds to the System at the certified
4rate, unless the terms of the trust or the federal-State
5agreement preclude the use of the funds for that purpose, in
6which case the required employer contributions shall be paid by
7the State. From the effective date of this amendatory Act of
8the 93rd General Assembly through the payment of the final
9payroll from fiscal year 2004 appropriations, the department or
10other employer shall not pay contributions for the remainder of
11fiscal year 2004 but shall instead make payments as required
12under subsection (a-1) of Section 14.1 of the State Finance
13Act. The department or other employer shall resume payment of
14contributions at the commencement of fiscal year 2005.
15    (e) For State fiscal years 2016 through 2045, the minimum
16contribution to the System to be made by the State for each
17fiscal year shall be an amount determined by the System to be
18sufficient to bring the total assets of the System up to 100%
19of the total actuarial liabilities of the System by the end of
20State fiscal year 2045. In making these determinations, the
21required State contribution shall be calculated each year as a
22level dollar amount over the years remaining to and including
23fiscal year 2045 and shall be determined under the entry age
24normal actuarial cost method.
25    For State fiscal year years 2015 through 2044, the minimum
26contribution to the System to be made by the State for the each

 

 

HB3424- 20 -LRB099 02641 RPS 22647 b

1fiscal year shall be an amount determined by the System to be
2equal to the sum of (1) the State's portion of the projected
3normal cost for that fiscal year, plus (2) an amount sufficient
4to bring the total assets of the System up to 100% of the total
5actuarial liabilities of the System by the end of State fiscal
6year 2044. In making these determinations, the required State
7contribution shall be calculated each year as a level
8percentage of payroll over the years remaining to and including
9fiscal year 2044 and shall be determined under the projected
10unit cost method for fiscal year 2015 and under the entry age
11normal actuarial cost method for fiscal years 2016 through
122044.
13    For State fiscal years 2012 through 2014, the minimum
14contribution to the System to be made by the State for each
15fiscal year shall be an amount determined by the System to be
16sufficient to bring the total assets of the System up to 90% of
17the total actuarial liabilities of the System by the end of
18State fiscal year 2045. In making these determinations, the
19required State contribution shall be calculated each year as a
20level percentage of payroll over the years remaining to and
21including fiscal year 2045 and shall be determined under the
22projected unit credit actuarial cost method.
23    For State fiscal years 1996 through 2005, the State
24contribution to the System, as a percentage of the applicable
25employee payroll, shall be increased in equal annual increments
26so that by State fiscal year 2011, the State is contributing at

 

 

HB3424- 21 -LRB099 02641 RPS 22647 b

1the rate required under this Section; except that (i) for State
2fiscal year 1998, for all purposes of this Code and any other
3law of this State, the certified percentage of the applicable
4employee payroll shall be 5.052% for employees earning eligible
5creditable service under Section 14-110 and 6.500% for all
6other employees, notwithstanding any contrary certification
7made under Section 14-135.08 before the effective date of this
8amendatory Act of 1997, and (ii) in the following specified
9State fiscal years, the State contribution to the System shall
10not be less than the following indicated percentages of the
11applicable employee payroll, even if the indicated percentage
12will produce a State contribution in excess of the amount
13otherwise required under this subsection and subsection (a):
149.8% in FY 1999; 10.0% in FY 2000; 10.2% in FY 2001; 10.4% in FY
152002; 10.6% in FY 2003; and 10.8% in FY 2004.
16    Notwithstanding any other provision of this Article, the
17total required State contribution to the System for State
18fiscal year 2006 is $203,783,900.
19    Notwithstanding any other provision of this Article, the
20total required State contribution to the System for State
21fiscal year 2007 is $344,164,400.
22    For each of State fiscal years 2008 through 2009, the State
23contribution to the System, as a percentage of the applicable
24employee payroll, shall be increased in equal annual increments
25from the required State contribution for State fiscal year
262007, so that by State fiscal year 2011, the State is

 

 

HB3424- 22 -LRB099 02641 RPS 22647 b

1contributing at the rate otherwise required under this Section.
2    Notwithstanding any other provision of this Article, the
3total required State General Revenue Fund contribution for
4State fiscal year 2010 is $723,703,100 and shall be made from
5the proceeds of bonds sold in fiscal year 2010 pursuant to
6Section 7.2 of the General Obligation Bond Act, less (i) the
7pro rata share of bond sale expenses determined by the System's
8share of total bond proceeds, (ii) any amounts received from
9the General Revenue Fund in fiscal year 2010, and (iii) any
10reduction in bond proceeds due to the issuance of discounted
11bonds, if applicable.
12    Notwithstanding any other provision of this Article, the
13total required State General Revenue Fund contribution for
14State fiscal year 2011 is the amount recertified by the System
15on or before April 1, 2011 pursuant to Section 14-135.08 and
16shall be made from the proceeds of bonds sold in fiscal year
172011 pursuant to Section 7.2 of the General Obligation Bond
18Act, less (i) the pro rata share of bond sale expenses
19determined by the System's share of total bond proceeds, (ii)
20any amounts received from the General Revenue Fund in fiscal
21year 2011, and (iii) any reduction in bond proceeds due to the
22issuance of discounted bonds, if applicable.
23    Beginning in State fiscal year 2046 2045, the minimum State
24contribution for each fiscal year shall be the amount needed to
25maintain the total assets of the System at 100% of the total
26actuarial liabilities of the System.

 

 

HB3424- 23 -LRB099 02641 RPS 22647 b

1    Amounts received by the System pursuant to Section 25 of
2the Budget Stabilization Act or Section 8.12 of the State
3Finance Act in any fiscal year do not reduce and do not
4constitute payment of any portion of the minimum State
5contribution required under this Article in that fiscal year.
6Such amounts shall not reduce, and shall not be included in the
7calculation of, the required State contributions under this
8Article in any future year until the System has reached a
9funding ratio of at least 100%. A reference in this Article to
10the "required State contribution" or any substantially similar
11term does not include or apply to any amounts payable to the
12System under Section 25 of the Budget Stabilization Act.
13    Notwithstanding any other provision of this Section, the
14required State contribution for State fiscal year 2005 and for
15fiscal year 2008 and each fiscal year thereafter through State
16fiscal year 2014, as calculated under this Section and
17certified under Section 14-135.08, shall not exceed an amount
18equal to (i) the amount of the required State contribution that
19would have been calculated under this Section for that fiscal
20year if the System had not received any payments under
21subsection (d) of Section 7.2 of the General Obligation Bond
22Act, minus (ii) the portion of the State's total debt service
23payments for that fiscal year on the bonds issued in fiscal
24year 2003 for the purposes of that Section 7.2, as determined
25and certified by the Comptroller, that is the same as the
26System's portion of the total moneys distributed under

 

 

HB3424- 24 -LRB099 02641 RPS 22647 b

1subsection (d) of Section 7.2 of the General Obligation Bond
2Act. In determining this maximum for State fiscal years 2008
3through 2010, however, the amount referred to in item (i) shall
4be increased, as a percentage of the applicable employee
5payroll, in equal increments calculated from the sum of the
6required State contribution for State fiscal year 2007 plus the
7applicable portion of the State's total debt service payments
8for fiscal year 2007 on the bonds issued in fiscal year 2003
9for the purposes of Section 7.2 of the General Obligation Bond
10Act, so that, by State fiscal year 2011, the State is
11contributing at the rate otherwise required under this Section.
12    (f) After the submission of all payments for eligible
13employees from personal services line items in fiscal year 2004
14have been made, the Comptroller shall provide to the System a
15certification of the sum of all fiscal year 2004 expenditures
16for personal services that would have been covered by payments
17to the System under this Section if the provisions of this
18amendatory Act of the 93rd General Assembly had not been
19enacted. Upon receipt of the certification, the System shall
20determine the amount due to the System based on the full rate
21certified by the Board under Section 14-135.08 for fiscal year
222004 in order to meet the State's obligation under this
23Section. The System shall compare this amount due to the amount
24received by the System in fiscal year 2004 through payments
25under this Section and under Section 6z-61 of the State Finance
26Act. If the amount due is more than the amount received, the

 

 

HB3424- 25 -LRB099 02641 RPS 22647 b

1difference shall be termed the "Fiscal Year 2004 Shortfall" for
2purposes of this Section, and the Fiscal Year 2004 Shortfall
3shall be satisfied under Section 1.2 of the State Pension Funds
4Continuing Appropriation Act. If the amount due is less than
5the amount received, the difference shall be termed the "Fiscal
6Year 2004 Overpayment" for purposes of this Section, and the
7Fiscal Year 2004 Overpayment shall be repaid by the System to
8the Pension Contribution Fund as soon as practicable after the
9certification.
10    (g) For purposes of determining the required State
11contribution to the System, the value of the System's assets
12shall be equal to the actuarial value of the System's assets,
13which shall be calculated as follows:
14    As of June 30, 2008, the actuarial value of the System's
15assets shall be equal to the market value of the assets as of
16that date. In determining the actuarial value of the System's
17assets for fiscal years after June 30, 2008, any actuarial
18gains or losses from investment return incurred in a fiscal
19year shall be recognized in equal annual amounts over the
205-year period following that fiscal year.
21    (h) For purposes of determining the required State
22contribution to the System for a particular year, the actuarial
23value of assets shall be assumed to earn a rate of return equal
24to the System's actuarially assumed rate of return.
25    (i) After the submission of all payments for eligible
26employees from personal services line items paid from the

 

 

HB3424- 26 -LRB099 02641 RPS 22647 b

1General Revenue Fund in fiscal year 2010 have been made, the
2Comptroller shall provide to the System a certification of the
3sum of all fiscal year 2010 expenditures for personal services
4that would have been covered by payments to the System under
5this Section if the provisions of this amendatory Act of the
696th General Assembly had not been enacted. Upon receipt of the
7certification, the System shall determine the amount due to the
8System based on the full rate certified by the Board under
9Section 14-135.08 for fiscal year 2010 in order to meet the
10State's obligation under this Section. The System shall compare
11this amount due to the amount received by the System in fiscal
12year 2010 through payments under this Section. If the amount
13due is more than the amount received, the difference shall be
14termed the "Fiscal Year 2010 Shortfall" for purposes of this
15Section, and the Fiscal Year 2010 Shortfall shall be satisfied
16under Section 1.2 of the State Pension Funds Continuing
17Appropriation Act. If the amount due is less than the amount
18received, the difference shall be termed the "Fiscal Year 2010
19Overpayment" for purposes of this Section, and the Fiscal Year
202010 Overpayment shall be repaid by the System to the General
21Revenue Fund as soon as practicable after the certification.
22    (j) After the submission of all payments for eligible
23employees from personal services line items paid from the
24General Revenue Fund in fiscal year 2011 have been made, the
25Comptroller shall provide to the System a certification of the
26sum of all fiscal year 2011 expenditures for personal services

 

 

HB3424- 27 -LRB099 02641 RPS 22647 b

1that would have been covered by payments to the System under
2this Section if the provisions of this amendatory Act of the
396th General Assembly had not been enacted. Upon receipt of the
4certification, the System shall determine the amount due to the
5System based on the full rate certified by the Board under
6Section 14-135.08 for fiscal year 2011 in order to meet the
7State's obligation under this Section. The System shall compare
8this amount due to the amount received by the System in fiscal
9year 2011 through payments under this Section. If the amount
10due is more than the amount received, the difference shall be
11termed the "Fiscal Year 2011 Shortfall" for purposes of this
12Section, and the Fiscal Year 2011 Shortfall shall be satisfied
13under Section 1.2 of the State Pension Funds Continuing
14Appropriation Act. If the amount due is less than the amount
15received, the difference shall be termed the "Fiscal Year 2011
16Overpayment" for purposes of this Section, and the Fiscal Year
172011 Overpayment shall be repaid by the System to the General
18Revenue Fund as soon as practicable after the certification.
19    (k) For fiscal years 2012 through 2015 only, after the
20submission of all payments for eligible employees from personal
21services line items paid from the General Revenue Fund in the
22fiscal year have been made, the Comptroller shall provide to
23the System a certification of the sum of all expenditures in
24the fiscal year for personal services. Upon receipt of the
25certification, the System shall determine the amount due to the
26System based on the full rate certified by the Board under

 

 

HB3424- 28 -LRB099 02641 RPS 22647 b

1Section 14-135.08 for the fiscal year in order to meet the
2State's obligation under this Section. The System shall compare
3this amount due to the amount received by the System for the
4fiscal year. If the amount due is more than the amount
5received, the difference shall be termed the "Prior Fiscal Year
6Shortfall" for purposes of this Section, and the Prior Fiscal
7Year Shortfall shall be satisfied under Section 1.2 of the
8State Pension Funds Continuing Appropriation Act. If the amount
9due is less than the amount received, the difference shall be
10termed the "Prior Fiscal Year Overpayment" for purposes of this
11Section, and the Prior Fiscal Year Overpayment shall be repaid
12by the System to the General Revenue Fund as soon as
13practicable after the certification.
14(Source: P.A. 97-72, eff. 7-1-11; 97-732, eff. 6-30-12; 98-24,
15eff. 6-19-13; 98-599, eff. 6-1-14; 98-674, eff. 6-30-14.)
 
16    (40 ILCS 5/14-135.08)  (from Ch. 108 1/2, par. 14-135.08)
17    Sec. 14-135.08. To certify required State contributions.
18    (a) To certify to the Governor and to each department, on
19or before November 15 of each year until November 15, 2011, the
20required rate for State contributions to the System for the
21next State fiscal year, as determined under subsection (b) of
22Section 14-131. The certification to the Governor under this
23subsection (a) shall include a copy of the actuarial
24recommendations upon which the rate is based and shall
25specifically identify the System's projected State normal cost

 

 

HB3424- 29 -LRB099 02641 RPS 22647 b

1for that fiscal year.
2    (a-5) On or before November 1 of each year, beginning
3November 1, 2012, the Board shall submit to the State Actuary,
4the Governor, and the General Assembly a proposed certification
5of the amount of the required State contribution to the System
6for the next fiscal year, along with all of the actuarial
7assumptions, calculations, and data upon which that proposed
8certification is based. On or before January 1 of each year
9beginning January 1, 2013, the State Actuary shall issue a
10preliminary report concerning the proposed certification and
11identifying, if necessary, recommended changes in actuarial
12assumptions that the Board must consider before finalizing its
13certification of the required State contributions. On or before
14January 15, 2013 and each January 15 thereafter, the Board
15shall certify to the Governor and the General Assembly the
16amount of the required State contribution for the next fiscal
17year. The Board's certification must note any deviations from
18the State Actuary's recommended changes, the reason or reasons
19for not following the State Actuary's recommended changes, and
20the fiscal impact of not following the State Actuary's
21recommended changes on the required State contribution.
22    (a-10) For purposes of Section (c-5) of Section 20 of the
23Budget Stabilization Act, on or before November 1 of each year
24beginning November 1, 2014, the Board shall determine the
25amount of the State contribution to the System that would have
26been required for the next fiscal year if this amendatory Act

 

 

HB3424- 30 -LRB099 02641 RPS 22647 b

1of the 98th General Assembly had not taken effect, using the
2best and most recent available data but based on the law in
3effect on May 31, 2014. The Board shall submit to the State
4Actuary, the Governor, and the General Assembly a proposed
5certification, along with the relevant law, actuarial
6assumptions, calculations, and data upon which that
7certification is based. On or before January 1, 2015 and every
8January 1 thereafter, the State Actuary shall issue a
9preliminary report concerning the proposed certification and
10identifying, if necessary, recommended changes in actuarial
11assumptions that the Board must consider before finalizing its
12certification. On or before January 15, 2015 and every January
131 thereafter, the Board shall certify to the Governor and the
14General Assembly the amount of the State contribution to the
15System that would have been required for the next fiscal year
16if this amendatory Act of the 98th General Assembly had not
17taken effect, using the best and most recent available data but
18based on the law in effect on May 31, 2014. The Board's
19certification must note any deviations from the State Actuary's
20recommended changes, the reason or reasons for not following
21the State Actuary's recommended changes, and the impact of not
22following the State Actuary's recommended changes.
23    (b) The certifications under subsections (a) and (a-5)
24shall include an additional amount necessary to pay all
25principal of and interest on those general obligation bonds due
26the next fiscal year authorized by Section 7.2(a) of the

 

 

HB3424- 31 -LRB099 02641 RPS 22647 b

1General Obligation Bond Act and issued to provide the proceeds
2deposited by the State with the System in July 2003,
3representing deposits other than amounts reserved under
4Section 7.2(c) of the General Obligation Bond Act. For State
5fiscal year 2005, the Board shall make a supplemental
6certification of the additional amount necessary to pay all
7principal of and interest on those general obligation bonds due
8in State fiscal years 2004 and 2005 authorized by Section
97.2(a) of the General Obligation Bond Act and issued to provide
10the proceeds deposited by the State with the System in July
112003, representing deposits other than amounts reserved under
12Section 7.2(c) of the General Obligation Bond Act, as soon as
13practical after the effective date of this amendatory Act of
14the 93rd General Assembly.
15    On or before May 1, 2004, the Board shall recalculate and
16recertify to the Governor and to each department the amount of
17the required State contribution to the System and the required
18rates for State contributions to the System for State fiscal
19year 2005, taking into account the amounts appropriated to and
20received by the System under subsection (d) of Section 7.2 of
21the General Obligation Bond Act.
22    On or before July 1, 2005, the Board shall recalculate and
23recertify to the Governor and to each department the amount of
24the required State contribution to the System and the required
25rates for State contributions to the System for State fiscal
26year 2006, taking into account the changes in required State

 

 

HB3424- 32 -LRB099 02641 RPS 22647 b

1contributions made by this amendatory Act of the 94th General
2Assembly.
3    On or before April 1, 2011, the Board shall recalculate and
4recertify to the Governor and to each department the amount of
5the required State contribution to the System for State fiscal
6year 2011, applying the changes made by Public Act 96-889 to
7the System's assets and liabilities as of June 30, 2009 as
8though Public Act 96-889 was approved on that date.
9    (b-5) As soon as practical after the effective date of this
10amendatory Act of the 99th General Assembly, the State Actuary
11and the Board shall recalculate and recertify to the Governor
12and the General Assembly the amount of the State contribution
13to the System for State fiscal year 2016, taking into account
14the changes in required State contributions made by this
15amendatory Act of the 99th General Assembly.
16(Source: P.A. 97-694, eff. 6-18-12; 98-599, eff. 6-1-14.)
 
17    (40 ILCS 5/15-155)  (from Ch. 108 1/2, par. 15-155)
18    Sec. 15-155. Employer contributions.
19    (a) The State of Illinois shall make contributions by
20appropriations of amounts which, together with the other
21employer contributions from trust, federal, and other funds,
22employee contributions, income from investments, and other
23income of this System, will be sufficient to meet the cost of
24maintaining and administering the System on a 100% funded basis
25in accordance with actuarial recommendations by the end of

 

 

HB3424- 33 -LRB099 02641 RPS 22647 b

1State fiscal year 2044.
2    The Board shall determine the amount of State contributions
3required for each fiscal year on the basis of the actuarial
4tables and other assumptions adopted by the Board and the
5recommendations of the actuary, using the formula in subsection
6(a-1).
7    (a-1) For State fiscal years 2016 through 2045, the minimum
8contribution to the System to be made by the State for each
9fiscal year shall be an amount determined by the System to be
10sufficient to bring the total assets of the System up to 100%
11of the total actuarial liabilities of the System by the end of
12State fiscal year 2045. In making these determinations, the
13required State contribution shall be calculated each year as a
14level dollar amount over the years remaining to and including
15fiscal year 2045 and shall be determined under the entry age
16normal actuarial cost method.
17    For State fiscal year years 2015 through 2044, the minimum
18contribution to the System to be made by the State for the each
19fiscal year shall be an amount determined by the System to be
20equal to the sum of (1) the State's portion of the projected
21normal cost for that fiscal year, plus (2) an amount sufficient
22to bring the total assets of the System up to 100% of the total
23actuarial liabilities of the System by the end of the State
24fiscal year 2044. In making these determinations, the required
25State contribution shall be calculated each year as a level
26percentage of payroll over the years remaining to and including

 

 

HB3424- 34 -LRB099 02641 RPS 22647 b

1fiscal year 2044 and shall be determined under the projected
2unit cost method for fiscal year 2015 and under the entry age
3normal actuarial cost method for fiscal years 2016 through
42044.
5    For State fiscal years 2012 through 2014, the minimum
6contribution to the System to be made by the State for each
7fiscal year shall be an amount determined by the System to be
8sufficient to bring the total assets of the System up to 90% of
9the total actuarial liabilities of the System by the end of
10State fiscal year 2045. In making these determinations, the
11required State contribution shall be calculated each year as a
12level percentage of payroll over the years remaining to and
13including fiscal year 2045 and shall be determined under the
14projected unit credit actuarial cost method.
15    For State fiscal years 1996 through 2005, the State
16contribution to the System, as a percentage of the applicable
17employee payroll, shall be increased in equal annual increments
18so that by State fiscal year 2011, the State is contributing at
19the rate required under this Section.
20    Notwithstanding any other provision of this Article, the
21total required State contribution for State fiscal year 2006 is
22$166,641,900.
23    Notwithstanding any other provision of this Article, the
24total required State contribution for State fiscal year 2007 is
25$252,064,100.
26    For each of State fiscal years 2008 through 2009, the State

 

 

HB3424- 35 -LRB099 02641 RPS 22647 b

1contribution to the System, as a percentage of the applicable
2employee payroll, shall be increased in equal annual increments
3from the required State contribution for State fiscal year
42007, so that by State fiscal year 2011, the State is
5contributing at the rate otherwise required under this Section.
6    Notwithstanding any other provision of this Article, the
7total required State contribution for State fiscal year 2010 is
8$702,514,000 and shall be made from the State Pensions Fund and
9proceeds of bonds sold in fiscal year 2010 pursuant to Section
107.2 of the General Obligation Bond Act, less (i) the pro rata
11share of bond sale expenses determined by the System's share of
12total bond proceeds, (ii) any amounts received from the General
13Revenue Fund in fiscal year 2010, (iii) any reduction in bond
14proceeds due to the issuance of discounted bonds, if
15applicable.
16    Notwithstanding any other provision of this Article, the
17total required State contribution for State fiscal year 2011 is
18the amount recertified by the System on or before April 1, 2011
19pursuant to Section 15-165 and shall be made from the State
20Pensions Fund and proceeds of bonds sold in fiscal year 2011
21pursuant to Section 7.2 of the General Obligation Bond Act,
22less (i) the pro rata share of bond sale expenses determined by
23the System's share of total bond proceeds, (ii) any amounts
24received from the General Revenue Fund in fiscal year 2011, and
25(iii) any reduction in bond proceeds due to the issuance of
26discounted bonds, if applicable.

 

 

HB3424- 36 -LRB099 02641 RPS 22647 b

1    Beginning in State fiscal year 2046 2045, the minimum
2contribution for each fiscal year shall be the amount needed to
3maintain the total assets of the System at 100% of the total
4liabilities of the System.
5    Amounts received by the System pursuant to Section 25 of
6the Budget Stabilization Act or Section 8.12 of the State
7Finance Act in any fiscal year do not reduce and do not
8constitute payment of any portion of the minimum State
9contribution required under this Article in that fiscal year.
10Such amounts shall not reduce, and shall not be included in the
11calculation of, the required State contributions under this
12Article in any future year until the System has reached a
13funding ratio of at least 100%. A reference in this Article to
14the "required State contribution" or any substantially similar
15term does not include or apply to any amounts payable to the
16System under Section 25 of the Budget Stabilization Act.
17    Notwithstanding any other provision of this Section, the
18required State contribution for State fiscal year 2005 and for
19fiscal year 2008 and each fiscal year thereafter through State
20fiscal year 2014, as calculated under this Section and
21certified under Section 15-165, shall not exceed an amount
22equal to (i) the amount of the required State contribution that
23would have been calculated under this Section for that fiscal
24year if the System had not received any payments under
25subsection (d) of Section 7.2 of the General Obligation Bond
26Act, minus (ii) the portion of the State's total debt service

 

 

HB3424- 37 -LRB099 02641 RPS 22647 b

1payments for that fiscal year on the bonds issued in fiscal
2year 2003 for the purposes of that Section 7.2, as determined
3and certified by the Comptroller, that is the same as the
4System's portion of the total moneys distributed under
5subsection (d) of Section 7.2 of the General Obligation Bond
6Act. In determining this maximum for State fiscal years 2008
7through 2010, however, the amount referred to in item (i) shall
8be increased, as a percentage of the applicable employee
9payroll, in equal increments calculated from the sum of the
10required State contribution for State fiscal year 2007 plus the
11applicable portion of the State's total debt service payments
12for fiscal year 2007 on the bonds issued in fiscal year 2003
13for the purposes of Section 7.2 of the General Obligation Bond
14Act, so that, by State fiscal year 2011, the State is
15contributing at the rate otherwise required under this Section.
16    (b) If an employee is paid from trust or federal funds, the
17employer shall pay to the Board contributions from those funds
18which are sufficient to cover the accruing normal costs on
19behalf of the employee. However, universities having employees
20who are compensated out of local auxiliary funds, income funds,
21or service enterprise funds are not required to pay such
22contributions on behalf of those employees. The local auxiliary
23funds, income funds, and service enterprise funds of
24universities shall not be considered trust funds for the
25purpose of this Article, but funds of alumni associations,
26foundations, and athletic associations which are affiliated

 

 

HB3424- 38 -LRB099 02641 RPS 22647 b

1with the universities included as employers under this Article
2and other employers which do not receive State appropriations
3are considered to be trust funds for the purpose of this
4Article.
5    (b-1) The City of Urbana and the City of Champaign shall
6each make employer contributions to this System for their
7respective firefighter employees who participate in this
8System pursuant to subsection (h) of Section 15-107. The rate
9of contributions to be made by those municipalities shall be
10determined annually by the Board on the basis of the actuarial
11assumptions adopted by the Board and the recommendations of the
12actuary, and shall be expressed as a percentage of salary for
13each such employee. The Board shall certify the rate to the
14affected municipalities as soon as may be practical. The
15employer contributions required under this subsection shall be
16remitted by the municipality to the System at the same time and
17in the same manner as employee contributions.
18    (c) Through State fiscal year 1995: The total employer
19contribution shall be apportioned among the various funds of
20the State and other employers, whether trust, federal, or other
21funds, in accordance with actuarial procedures approved by the
22Board. State of Illinois contributions for employers receiving
23State appropriations for personal services shall be payable
24from appropriations made to the employers or to the System. The
25contributions for Class I community colleges covering earnings
26other than those paid from trust and federal funds, shall be

 

 

HB3424- 39 -LRB099 02641 RPS 22647 b

1payable solely from appropriations to the Illinois Community
2College Board or the System for employer contributions.
3    (d) Beginning in State fiscal year 1996, the required State
4contributions to the System shall be appropriated directly to
5the System and shall be payable through vouchers issued in
6accordance with subsection (c) of Section 15-165, except as
7provided in subsection (g).
8    (e) The State Comptroller shall draw warrants payable to
9the System upon proper certification by the System or by the
10employer in accordance with the appropriation laws and this
11Code.
12    (f) Normal costs under this Section means liability for
13pensions and other benefits which accrues to the System because
14of the credits earned for service rendered by the participants
15during the fiscal year and expenses of administering the
16System, but shall not include the principal of or any
17redemption premium or interest on any bonds issued by the Board
18or any expenses incurred or deposits required in connection
19therewith.
20    (g) If the amount of a participant's earnings for any
21academic year used to determine the final rate of earnings,
22determined on a full-time equivalent basis, exceeds the amount
23of his or her earnings with the same employer for the previous
24academic year, determined on a full-time equivalent basis, by
25more than 6%, the participant's employer shall pay to the
26System, in addition to all other payments required under this

 

 

HB3424- 40 -LRB099 02641 RPS 22647 b

1Section and in accordance with guidelines established by the
2System, the present value of the increase in benefits resulting
3from the portion of the increase in earnings that is in excess
4of 6%. This present value shall be computed by the System on
5the basis of the actuarial assumptions and tables used in the
6most recent actuarial valuation of the System that is available
7at the time of the computation. The System may require the
8employer to provide any pertinent information or
9documentation.
10    Whenever it determines that a payment is or may be required
11under this subsection (g), the System shall calculate the
12amount of the payment and bill the employer for that amount.
13The bill shall specify the calculations used to determine the
14amount due. If the employer disputes the amount of the bill, it
15may, within 30 days after receipt of the bill, apply to the
16System in writing for a recalculation. The application must
17specify in detail the grounds of the dispute and, if the
18employer asserts that the calculation is subject to subsection
19(h) or (i) of this Section, must include an affidavit setting
20forth and attesting to all facts within the employer's
21knowledge that are pertinent to the applicability of subsection
22(h) or (i). Upon receiving a timely application for
23recalculation, the System shall review the application and, if
24appropriate, recalculate the amount due.
25    The employer contributions required under this subsection
26(g) may be paid in the form of a lump sum within 90 days after

 

 

HB3424- 41 -LRB099 02641 RPS 22647 b

1receipt of the bill. If the employer contributions are not paid
2within 90 days after receipt of the bill, then interest will be
3charged at a rate equal to the System's annual actuarially
4assumed rate of return on investment compounded annually from
5the 91st day after receipt of the bill. Payments must be
6concluded within 3 years after the employer's receipt of the
7bill.
8    (h) This subsection (h) applies only to payments made or
9salary increases given on or after June 1, 2005 but before July
101, 2011. The changes made by Public Act 94-1057 shall not
11require the System to refund any payments received before July
1231, 2006 (the effective date of Public Act 94-1057).
13    When assessing payment for any amount due under subsection
14(g), the System shall exclude earnings increases paid to
15participants under contracts or collective bargaining
16agreements entered into, amended, or renewed before June 1,
172005.
18    When assessing payment for any amount due under subsection
19(g), the System shall exclude earnings increases paid to a
20participant at a time when the participant is 10 or more years
21from retirement eligibility under Section 15-135.
22    When assessing payment for any amount due under subsection
23(g), the System shall exclude earnings increases resulting from
24overload work, including a contract for summer teaching, or
25overtime when the employer has certified to the System, and the
26System has approved the certification, that: (i) in the case of

 

 

HB3424- 42 -LRB099 02641 RPS 22647 b

1overloads (A) the overload work is for the sole purpose of
2academic instruction in excess of the standard number of
3instruction hours for a full-time employee occurring during the
4academic year that the overload is paid and (B) the earnings
5increases are equal to or less than the rate of pay for
6academic instruction computed using the participant's current
7salary rate and work schedule; and (ii) in the case of
8overtime, the overtime was necessary for the educational
9mission.
10    When assessing payment for any amount due under subsection
11(g), the System shall exclude any earnings increase resulting
12from (i) a promotion for which the employee moves from one
13classification to a higher classification under the State
14Universities Civil Service System, (ii) a promotion in academic
15rank for a tenured or tenure-track faculty position, or (iii) a
16promotion that the Illinois Community College Board has
17recommended in accordance with subsection (k) of this Section.
18These earnings increases shall be excluded only if the
19promotion is to a position that has existed and been filled by
20a member for no less than one complete academic year and the
21earnings increase as a result of the promotion is an increase
22that results in an amount no greater than the average salary
23paid for other similar positions.
24    (i) When assessing payment for any amount due under
25subsection (g), the System shall exclude any salary increase
26described in subsection (h) of this Section given on or after

 

 

HB3424- 43 -LRB099 02641 RPS 22647 b

1July 1, 2011 but before July 1, 2014 under a contract or
2collective bargaining agreement entered into, amended, or
3renewed on or after June 1, 2005 but before July 1, 2011.
4Notwithstanding any other provision of this Section, any
5payments made or salary increases given after June 30, 2014
6shall be used in assessing payment for any amount due under
7subsection (g) of this Section.
8    (j) The System shall prepare a report and file copies of
9the report with the Governor and the General Assembly by
10January 1, 2007 that contains all of the following information:
11        (1) The number of recalculations required by the
12    changes made to this Section by Public Act 94-1057 for each
13    employer.
14        (2) The dollar amount by which each employer's
15    contribution to the System was changed due to
16    recalculations required by Public Act 94-1057.
17        (3) The total amount the System received from each
18    employer as a result of the changes made to this Section by
19    Public Act 94-4.
20        (4) The increase in the required State contribution
21    resulting from the changes made to this Section by Public
22    Act 94-1057.
23    (k) The Illinois Community College Board shall adopt rules
24for recommending lists of promotional positions submitted to
25the Board by community colleges and for reviewing the
26promotional lists on an annual basis. When recommending

 

 

HB3424- 44 -LRB099 02641 RPS 22647 b

1promotional lists, the Board shall consider the similarity of
2the positions submitted to those positions recognized for State
3universities by the State Universities Civil Service System.
4The Illinois Community College Board shall file a copy of its
5findings with the System. The System shall consider the
6findings of the Illinois Community College Board when making
7determinations under this Section. The System shall not exclude
8any earnings increases resulting from a promotion when the
9promotion was not submitted by a community college. Nothing in
10this subsection (k) shall require any community college to
11submit any information to the Community College Board.
12    (l) For purposes of determining the required State
13contribution to the System, the value of the System's assets
14shall be equal to the actuarial value of the System's assets,
15which shall be calculated as follows:
16    As of June 30, 2008, the actuarial value of the System's
17assets shall be equal to the market value of the assets as of
18that date. In determining the actuarial value of the System's
19assets for fiscal years after June 30, 2008, any actuarial
20gains or losses from investment return incurred in a fiscal
21year shall be recognized in equal annual amounts over the
225-year period following that fiscal year.
23    (m) For purposes of determining the required State
24contribution to the system for a particular year, the actuarial
25value of assets shall be assumed to earn a rate of return equal
26to the system's actuarially assumed rate of return.

 

 

HB3424- 45 -LRB099 02641 RPS 22647 b

1(Source: P.A. 97-813, eff. 7-13-12; 98-92, eff. 7-16-13;
298-463, eff. 8-16-13; 98-599, eff. 6-1-14.)
 
3    (40 ILCS 5/15-165)   (from Ch. 108 1/2, par. 15-165)
4    Sec. 15-165. To certify amounts and submit vouchers.
5    (a) The Board shall certify to the Governor on or before
6November 15 of each year until November 15, 2011 the
7appropriation required from State funds for the purposes of
8this System for the following fiscal year. The certification
9under this subsection (a) shall include a copy of the actuarial
10recommendations upon which it is based and shall specifically
11identify the System's projected State normal cost for that
12fiscal year and the projected State cost for the self-managed
13plan for that fiscal year.
14    On or before May 1, 2004, the Board shall recalculate and
15recertify to the Governor the amount of the required State
16contribution to the System for State fiscal year 2005, taking
17into account the amounts appropriated to and received by the
18System under subsection (d) of Section 7.2 of the General
19Obligation Bond Act.
20    On or before July 1, 2005, the Board shall recalculate and
21recertify to the Governor the amount of the required State
22contribution to the System for State fiscal year 2006, taking
23into account the changes in required State contributions made
24by this amendatory Act of the 94th General Assembly.
25    On or before April 1, 2011, the Board shall recalculate and

 

 

HB3424- 46 -LRB099 02641 RPS 22647 b

1recertify to the Governor the amount of the required State
2contribution to the System for State fiscal year 2011, applying
3the changes made by Public Act 96-889 to the System's assets
4and liabilities as of June 30, 2009 as though Public Act 96-889
5was approved on that date.
6    (a-5) On or before November 1 of each year, beginning
7November 1, 2012, the Board shall submit to the State Actuary,
8the Governor, and the General Assembly a proposed certification
9of the amount of the required State contribution to the System
10for the next fiscal year, along with all of the actuarial
11assumptions, calculations, and data upon which that proposed
12certification is based. On or before January 1 of each year,
13beginning January 1, 2013, the State Actuary shall issue a
14preliminary report concerning the proposed certification and
15identifying, if necessary, recommended changes in actuarial
16assumptions that the Board must consider before finalizing its
17certification of the required State contributions. On or before
18January 15, 2013 and each January 15 thereafter, the Board
19shall certify to the Governor and the General Assembly the
20amount of the required State contribution for the next fiscal
21year. The Board's certification must note, in a written
22response to the State Actuary, any deviations from the State
23Actuary's recommended changes, the reason or reasons for not
24following the State Actuary's recommended changes, and the
25fiscal impact of not following the State Actuary's recommended
26changes on the required State contribution.

 

 

HB3424- 47 -LRB099 02641 RPS 22647 b

1    (a-6) As soon as practical after the effective date of this
2amendatory Act of the 99th General Assembly, the State Actuary
3and the Board shall recalculate and recertify to the Governor
4and the General Assembly the amount of the State contribution
5to the System for State fiscal year 2016, taking into account
6the changes in required State contributions made by this
7amendatory Act of the 99th General Assembly.
8    (a-10) For purposes of Section (c-5) of Section 20 of the
9Budget Stabilization Act, on or before November 1 of each year
10beginning November 1, 2014, the Board shall determine the
11amount of the State contribution to the System that would have
12been required for the next fiscal year if this amendatory Act
13of the 98th General Assembly had not taken effect, using the
14best and most recent available data but based on the law in
15effect on May 31, 2014. The Board shall submit to the State
16Actuary, the Governor, and the General Assembly a proposed
17certification, along with the relevant law, actuarial
18assumptions, calculations, and data upon which that
19certification is based. On or before January 1, 2015 and every
20January 1 thereafter, the State Actuary shall issue a
21preliminary report concerning the proposed certification and
22identifying, if necessary, recommended changes in actuarial
23assumptions that the Board must consider before finalizing its
24certification. On or before January 15, 2015 and every January
251 thereafter, the Board shall certify to the Governor and the
26General Assembly the amount of the State contribution to the

 

 

HB3424- 48 -LRB099 02641 RPS 22647 b

1System that would have been required for the next fiscal year
2if this amendatory Act of the 98th General Assembly had not
3taken effect, using the best and most recent available data but
4based on the law in effect on May 31, 2014. The Board's
5certification must note any deviations from the State Actuary's
6recommended changes, the reason or reasons for not following
7the State Actuary's recommended changes, and the impact of not
8following the State Actuary's recommended changes.
9    (b) The Board shall certify to the State Comptroller or
10employer, as the case may be, from time to time, by its
11chairperson and secretary, with its seal attached, the amounts
12payable to the System from the various funds.
13    (c) Beginning in State fiscal year 1996, on or as soon as
14possible after the 15th day of each month the Board shall
15submit vouchers for payment of State contributions to the
16System, in a total monthly amount of one-twelfth of the
17required annual State contribution certified under subsection
18(a). From the effective date of this amendatory Act of the 93rd
19General Assembly through June 30, 2004, the Board shall not
20submit vouchers for the remainder of fiscal year 2004 in excess
21of the fiscal year 2004 certified contribution amount
22determined under this Section after taking into consideration
23the transfer to the System under subsection (b) of Section
246z-61 of the State Finance Act. These vouchers shall be paid by
25the State Comptroller and Treasurer by warrants drawn on the
26funds appropriated to the System for that fiscal year.

 

 

HB3424- 49 -LRB099 02641 RPS 22647 b

1    If in any month the amount remaining unexpended from all
2other appropriations to the System for the applicable fiscal
3year (including the appropriations to the System under Section
48.12 of the State Finance Act and Section 1 of the State
5Pension Funds Continuing Appropriation Act) is less than the
6amount lawfully vouchered under this Section, the difference
7shall be paid from the General Revenue Fund under the
8continuing appropriation authority provided in Section 1.1 of
9the State Pension Funds Continuing Appropriation Act.
10    (d) So long as the payments received are the full amount
11lawfully vouchered under this Section, payments received by the
12System under this Section shall be applied first toward the
13employer contribution to the self-managed plan established
14under Section 15-158.2. Payments shall be applied second toward
15the employer's portion of the normal costs of the System, as
16defined in subsection (f) of Section 15-155. The balance shall
17be applied toward the unfunded actuarial liabilities of the
18System.
19    (e) In the event that the System does not receive, as a
20result of legislative enactment or otherwise, payments
21sufficient to fully fund the employer contribution to the
22self-managed plan established under Section 15-158.2 and to
23fully fund that portion of the employer's portion of the normal
24costs of the System, as calculated in accordance with Section
2515-155(a-1), then any payments received shall be applied
26proportionately to the optional retirement program established

 

 

HB3424- 50 -LRB099 02641 RPS 22647 b

1under Section 15-158.2 and to the employer's portion of the
2normal costs of the System, as calculated in accordance with
3Section 15-155(a-1).
4(Source: P.A. 97-694, eff. 6-18-12; 98-92, eff. 7-16-13;
598-599, eff. 6-1-14.)
 
6    (40 ILCS 5/16-158)   (from Ch. 108 1/2, par. 16-158)
7    Sec. 16-158. Contributions by State and other employing
8units.
9    (a) The State shall make contributions to the System by
10means of appropriations from the Common School Fund and other
11State funds of amounts which, together with other employer
12contributions, employee contributions, investment income, and
13other income, will be sufficient to meet the cost of
14maintaining and administering the System on a 100% funded basis
15in accordance with actuarial recommendations by the end of
16State fiscal year 2044.
17    The Board shall determine the amount of State contributions
18required for each fiscal year on the basis of the actuarial
19tables and other assumptions adopted by the Board and the
20recommendations of the actuary, using the formula in subsection
21(b-3).
22    (a-1) Annually, on or before November 15 through November
2315, 2011, the Board shall certify to the Governor the amount of
24the required State contribution for the coming fiscal year. The
25certification under this subsection (a-1) shall include a copy

 

 

HB3424- 51 -LRB099 02641 RPS 22647 b

1of the actuarial recommendations upon which it is based.
2    On or before May 1, 2004, the Board shall recalculate and
3recertify to the Governor the amount of the required State
4contribution to the System for State fiscal year 2005, taking
5into account the amounts appropriated to and received by the
6System under subsection (d) of Section 7.2 of the General
7Obligation Bond Act.
8    On or before July 1, 2005, the Board shall recalculate and
9recertify to the Governor the amount of the required State
10contribution to the System for State fiscal year 2006, taking
11into account the changes in required State contributions made
12by this amendatory Act of the 94th General Assembly.
13    On or before April 1, 2011, the Board shall recalculate and
14recertify to the Governor the amount of the required State
15contribution to the System for State fiscal year 2011, applying
16the changes made by Public Act 96-889 to the System's assets
17and liabilities as of June 30, 2009 as though Public Act 96-889
18was approved on that date.
19    (a-5) On or before November 1 of each year, beginning
20November 1, 2012, the Board shall submit to the State Actuary,
21the Governor, and the General Assembly a proposed certification
22of the amount of the required State contribution to the System
23for the next fiscal year, along with all of the actuarial
24assumptions, calculations, and data upon which that proposed
25certification is based. On or before January 1 of each year,
26beginning January 1, 2013, the State Actuary shall issue a

 

 

HB3424- 52 -LRB099 02641 RPS 22647 b

1preliminary report concerning the proposed certification and
2identifying, if necessary, recommended changes in actuarial
3assumptions that the Board must consider before finalizing its
4certification of the required State contributions.
5    On or before January 15, 2013 and each January 15
6thereafter, the Board shall certify to the Governor and the
7General Assembly the amount of the required State contribution
8for the next fiscal year. The certification shall include a
9copy of the actuarial recommendations upon which it is based
10and shall specifically identify the System's projected State
11normal cost for that fiscal year. The Board's certification
12must note any deviations from the State Actuary's recommended
13changes, the reason or reasons for not following the State
14Actuary's recommended changes, and the fiscal impact of not
15following the State Actuary's recommended changes on the
16required State contribution.
17    (a-6) As soon as practical after the effective date of this
18amendatory Act of the 99th General Assembly, the State Actuary
19and the Board shall recalculate and recertify to the Governor
20and the General Assembly the amount of the State contribution
21to the System for State fiscal year 2016, taking into account
22the changes in required State contributions made by this
23amendatory Act of the 99th General Assembly.
24    (a-10) For purposes of Section (c-5) of Section 20 of the
25Budget Stabilization Act, on or before November 1 of each year
26beginning November 1, 2014, the Board shall determine the

 

 

HB3424- 53 -LRB099 02641 RPS 22647 b

1amount of the State contribution to the System that would have
2been required for the next fiscal year if this amendatory Act
3of the 98th General Assembly had not taken effect, using the
4best and most recent available data but based on the law in
5effect on May 31, 2014. The Board shall submit to the State
6Actuary, the Governor, and the General Assembly a proposed
7certification, along with the relevant law, actuarial
8assumptions, calculations, and data upon which that
9certification is based. On or before January 1, 2015 and every
10January 1 thereafter, the State Actuary shall issue a
11preliminary report concerning the proposed certification and
12identifying, if necessary, recommended changes in actuarial
13assumptions that the Board must consider before finalizing its
14certification. On or before January 15, 2015 and every January
151 thereafter, the Board shall certify to the Governor and the
16General Assembly the amount of the State contribution to the
17System that would have been required for the next fiscal year
18if this amendatory Act of the 98th General Assembly had not
19taken effect, using the best and most recent available data but
20based on the law in effect on May 31, 2014. The Board's
21certification must note any deviations from the State Actuary's
22recommended changes, the reason or reasons for not following
23the State Actuary's recommended changes, and the impact of not
24following the State Actuary's recommended changes.
25    (b) Through State fiscal year 1995, the State contributions
26shall be paid to the System in accordance with Section 18-7 of

 

 

HB3424- 54 -LRB099 02641 RPS 22647 b

1the School Code.
2    (b-1) Beginning in State fiscal year 1996, on the 15th day
3of each month, or as soon thereafter as may be practicable, the
4Board shall submit vouchers for payment of State contributions
5to the System, in a total monthly amount of one-twelfth of the
6required annual State contribution certified under subsection
7(a-1). From the effective date of this amendatory Act of the
893rd General Assembly through June 30, 2004, the Board shall
9not submit vouchers for the remainder of fiscal year 2004 in
10excess of the fiscal year 2004 certified contribution amount
11determined under this Section after taking into consideration
12the transfer to the System under subsection (a) of Section
136z-61 of the State Finance Act. These vouchers shall be paid by
14the State Comptroller and Treasurer by warrants drawn on the
15funds appropriated to the System for that fiscal year.
16    If in any month the amount remaining unexpended from all
17other appropriations to the System for the applicable fiscal
18year (including the appropriations to the System under Section
198.12 of the State Finance Act and Section 1 of the State
20Pension Funds Continuing Appropriation Act) is less than the
21amount lawfully vouchered under this subsection, the
22difference shall be paid from the Common School Fund under the
23continuing appropriation authority provided in Section 1.1 of
24the State Pension Funds Continuing Appropriation Act.
25    (b-2) Allocations from the Common School Fund apportioned
26to school districts not coming under this System shall not be

 

 

HB3424- 55 -LRB099 02641 RPS 22647 b

1diminished or affected by the provisions of this Article.
2    (b-3) For State fiscal years 2016 through 2045, the minimum
3contribution to the System to be made by the State for each
4fiscal year shall be an amount determined by the System to be
5sufficient to bring the total assets of the System up to 100%
6of the total actuarial liabilities of the System by the end of
7State fiscal year 2045. In making these determinations, the
8required State contribution shall be calculated each year as a
9level dollar amount over the years remaining to and including
10fiscal year 2045 and shall be determined under the entry age
11normal actuarial cost method.
12    For State fiscal year years 2015 through 2044, the minimum
13contribution to the System to be made by the State for the each
14fiscal year shall be an amount determined by the System to be
15equal to the sum of (1) the State's portion of the projected
16normal cost for that fiscal year, plus (2) an amount sufficient
17to bring the total assets of the System up to 100% of the total
18actuarial liabilities of the System by the end of State fiscal
19year 2044. In making these determinations, the required State
20contribution shall be calculated each year as a level
21percentage of payroll over the years remaining to and including
22fiscal year 2044 and shall be determined under the projected
23unit cost method for fiscal year 2015 and under the entry age
24normal actuarial cost method for fiscal years 2016 through
252044.
26    For State fiscal years 2012 through 2014, the minimum

 

 

HB3424- 56 -LRB099 02641 RPS 22647 b

1contribution to the System to be made by the State for each
2fiscal year shall be an amount determined by the System to be
3sufficient to bring the total assets of the System up to 90% of
4the total actuarial liabilities of the System by the end of
5State fiscal year 2045. In making these determinations, the
6required State contribution shall be calculated each year as a
7level percentage of payroll over the years remaining to and
8including fiscal year 2045 and shall be determined under the
9projected unit credit actuarial cost method.
10    For State fiscal years 1996 through 2005, the State
11contribution to the System, as a percentage of the applicable
12employee payroll, shall be increased in equal annual increments
13so that by State fiscal year 2011, the State is contributing at
14the rate required under this Section; except that in the
15following specified State fiscal years, the State contribution
16to the System shall not be less than the following indicated
17percentages of the applicable employee payroll, even if the
18indicated percentage will produce a State contribution in
19excess of the amount otherwise required under this subsection
20and subsection (a), and notwithstanding any contrary
21certification made under subsection (a-1) before the effective
22date of this amendatory Act of 1998: 10.02% in FY 1999; 10.77%
23in FY 2000; 11.47% in FY 2001; 12.16% in FY 2002; 12.86% in FY
242003; and 13.56% in FY 2004.
25    Notwithstanding any other provision of this Article, the
26total required State contribution for State fiscal year 2006 is

 

 

HB3424- 57 -LRB099 02641 RPS 22647 b

1$534,627,700.
2    Notwithstanding any other provision of this Article, the
3total required State contribution for State fiscal year 2007 is
4$738,014,500.
5    For each of State fiscal years 2008 through 2009, the State
6contribution to the System, as a percentage of the applicable
7employee payroll, shall be increased in equal annual increments
8from the required State contribution for State fiscal year
92007, so that by State fiscal year 2011, the State is
10contributing at the rate otherwise required under this Section.
11    Notwithstanding any other provision of this Article, the
12total required State contribution for State fiscal year 2010 is
13$2,089,268,000 and shall be made from the proceeds of bonds
14sold in fiscal year 2010 pursuant to Section 7.2 of the General
15Obligation Bond Act, less (i) the pro rata share of bond sale
16expenses determined by the System's share of total bond
17proceeds, (ii) any amounts received from the Common School Fund
18in fiscal year 2010, and (iii) any reduction in bond proceeds
19due to the issuance of discounted bonds, if applicable.
20    Notwithstanding any other provision of this Article, the
21total required State contribution for State fiscal year 2011 is
22the amount recertified by the System on or before April 1, 2011
23pursuant to subsection (a-1) of this Section and shall be made
24from the proceeds of bonds sold in fiscal year 2011 pursuant to
25Section 7.2 of the General Obligation Bond Act, less (i) the
26pro rata share of bond sale expenses determined by the System's

 

 

HB3424- 58 -LRB099 02641 RPS 22647 b

1share of total bond proceeds, (ii) any amounts received from
2the Common School Fund in fiscal year 2011, and (iii) any
3reduction in bond proceeds due to the issuance of discounted
4bonds, if applicable. This amount shall include, in addition to
5the amount certified by the System, an amount necessary to meet
6employer contributions required by the State as an employer
7under paragraph (e) of this Section, which may also be used by
8the System for contributions required by paragraph (a) of
9Section 16-127.
10    Beginning in State fiscal year 2046 2045, the minimum State
11contribution for each fiscal year shall be the amount needed to
12maintain the total assets of the System at 100% of the total
13actuarial liabilities of the System.
14    Amounts received by the System pursuant to Section 25 of
15the Budget Stabilization Act or Section 8.12 of the State
16Finance Act in any fiscal year do not reduce and do not
17constitute payment of any portion of the minimum State
18contribution required under this Article in that fiscal year.
19Such amounts shall not reduce, and shall not be included in the
20calculation of, the required State contributions under this
21Article in any future year until the System has reached a
22funding ratio of at least 100%. A reference in this Article to
23the "required State contribution" or any substantially similar
24term does not include or apply to any amounts payable to the
25System under Section 25 of the Budget Stabilization Act.
26    Notwithstanding any other provision of this Section, the

 

 

HB3424- 59 -LRB099 02641 RPS 22647 b

1required State contribution for State fiscal year 2005 and for
2fiscal year 2008 and each fiscal year thereafter through State
3fiscal year 2014, as calculated under this Section and
4certified under subsection (a-1), shall not exceed an amount
5equal to (i) the amount of the required State contribution that
6would have been calculated under this Section for that fiscal
7year if the System had not received any payments under
8subsection (d) of Section 7.2 of the General Obligation Bond
9Act, minus (ii) the portion of the State's total debt service
10payments for that fiscal year on the bonds issued in fiscal
11year 2003 for the purposes of that Section 7.2, as determined
12and certified by the Comptroller, that is the same as the
13System's portion of the total moneys distributed under
14subsection (d) of Section 7.2 of the General Obligation Bond
15Act. In determining this maximum for State fiscal years 2008
16through 2010, however, the amount referred to in item (i) shall
17be increased, as a percentage of the applicable employee
18payroll, in equal increments calculated from the sum of the
19required State contribution for State fiscal year 2007 plus the
20applicable portion of the State's total debt service payments
21for fiscal year 2007 on the bonds issued in fiscal year 2003
22for the purposes of Section 7.2 of the General Obligation Bond
23Act, so that, by State fiscal year 2011, the State is
24contributing at the rate otherwise required under this Section.
25    (c) Payment of the required State contributions and of all
26pensions, retirement annuities, death benefits, refunds, and

 

 

HB3424- 60 -LRB099 02641 RPS 22647 b

1other benefits granted under or assumed by this System, and all
2expenses in connection with the administration and operation
3thereof, are obligations of the State.
4    If members are paid from special trust or federal funds
5which are administered by the employing unit, whether school
6district or other unit, the employing unit shall pay to the
7System from such funds the full accruing retirement costs based
8upon that service, which, beginning July 1, 2014, shall be at a
9rate, expressed as a percentage of salary, equal to the total
10minimum contribution to the System to be made by the State for
11that fiscal year, including both normal cost and unfunded
12liability components, expressed as a percentage of payroll, as
13determined by the System under subsection (b-3) of this
14Section. Employer contributions, based on salary paid to
15members from federal funds, may be forwarded by the
16distributing agency of the State of Illinois to the System
17prior to allocation, in an amount determined in accordance with
18guidelines established by such agency and the System. Any
19contribution for fiscal year 2015 collected as a result of the
20change made by this amendatory Act of the 98th General Assembly
21shall be considered a State contribution under subsection (b-3)
22of this Section.
23    (d) Effective July 1, 1986, any employer of a teacher as
24defined in paragraph (8) of Section 16-106 shall pay the
25employer's normal cost of benefits based upon the teacher's
26service, in addition to employee contributions, as determined

 

 

HB3424- 61 -LRB099 02641 RPS 22647 b

1by the System. Such employer contributions shall be forwarded
2monthly in accordance with guidelines established by the
3System.
4    However, with respect to benefits granted under Section
516-133.4 or 16-133.5 to a teacher as defined in paragraph (8)
6of Section 16-106, the employer's contribution shall be 12%
7(rather than 20%) of the member's highest annual salary rate
8for each year of creditable service granted, and the employer
9shall also pay the required employee contribution on behalf of
10the teacher. For the purposes of Sections 16-133.4 and
1116-133.5, a teacher as defined in paragraph (8) of Section
1216-106 who is serving in that capacity while on leave of
13absence from another employer under this Article shall not be
14considered an employee of the employer from which the teacher
15is on leave.
16    (e) Beginning July 1, 1998, every employer of a teacher
17shall pay to the System an employer contribution computed as
18follows:
19        (1) Beginning July 1, 1998 through June 30, 1999, the
20    employer contribution shall be equal to 0.3% of each
21    teacher's salary.
22        (2) Beginning July 1, 1999 and thereafter, the employer
23    contribution shall be equal to 0.58% of each teacher's
24    salary.
25The school district or other employing unit may pay these
26employer contributions out of any source of funding available

 

 

HB3424- 62 -LRB099 02641 RPS 22647 b

1for that purpose and shall forward the contributions to the
2System on the schedule established for the payment of member
3contributions.
4    These employer contributions are intended to offset a
5portion of the cost to the System of the increases in
6retirement benefits resulting from this amendatory Act of 1998.
7    Each employer of teachers is entitled to a credit against
8the contributions required under this subsection (e) with
9respect to salaries paid to teachers for the period January 1,
102002 through June 30, 2003, equal to the amount paid by that
11employer under subsection (a-5) of Section 6.6 of the State
12Employees Group Insurance Act of 1971 with respect to salaries
13paid to teachers for that period.
14    The additional 1% employee contribution required under
15Section 16-152 by this amendatory Act of 1998 is the
16responsibility of the teacher and not the teacher's employer,
17unless the employer agrees, through collective bargaining or
18otherwise, to make the contribution on behalf of the teacher.
19    If an employer is required by a contract in effect on May
201, 1998 between the employer and an employee organization to
21pay, on behalf of all its full-time employees covered by this
22Article, all mandatory employee contributions required under
23this Article, then the employer shall be excused from paying
24the employer contribution required under this subsection (e)
25for the balance of the term of that contract. The employer and
26the employee organization shall jointly certify to the System

 

 

HB3424- 63 -LRB099 02641 RPS 22647 b

1the existence of the contractual requirement, in such form as
2the System may prescribe. This exclusion shall cease upon the
3termination, extension, or renewal of the contract at any time
4after May 1, 1998.
5    (f) If the amount of a teacher's salary for any school year
6used to determine final average salary exceeds the member's
7annual full-time salary rate with the same employer for the
8previous school year by more than 6%, the teacher's employer
9shall pay to the System, in addition to all other payments
10required under this Section and in accordance with guidelines
11established by the System, the present value of the increase in
12benefits resulting from the portion of the increase in salary
13that is in excess of 6%. This present value shall be computed
14by the System on the basis of the actuarial assumptions and
15tables used in the most recent actuarial valuation of the
16System that is available at the time of the computation. If a
17teacher's salary for the 2005-2006 school year is used to
18determine final average salary under this subsection (f), then
19the changes made to this subsection (f) by Public Act 94-1057
20shall apply in calculating whether the increase in his or her
21salary is in excess of 6%. For the purposes of this Section,
22change in employment under Section 10-21.12 of the School Code
23on or after June 1, 2005 shall constitute a change in employer.
24The System may require the employer to provide any pertinent
25information or documentation. The changes made to this
26subsection (f) by this amendatory Act of the 94th General

 

 

HB3424- 64 -LRB099 02641 RPS 22647 b

1Assembly apply without regard to whether the teacher was in
2service on or after its effective date.
3    Whenever it determines that a payment is or may be required
4under this subsection, the System shall calculate the amount of
5the payment and bill the employer for that amount. The bill
6shall specify the calculations used to determine the amount
7due. If the employer disputes the amount of the bill, it may,
8within 30 days after receipt of the bill, apply to the System
9in writing for a recalculation. The application must specify in
10detail the grounds of the dispute and, if the employer asserts
11that the calculation is subject to subsection (g) or (h) of
12this Section, must include an affidavit setting forth and
13attesting to all facts within the employer's knowledge that are
14pertinent to the applicability of that subsection. Upon
15receiving a timely application for recalculation, the System
16shall review the application and, if appropriate, recalculate
17the amount due.
18    The employer contributions required under this subsection
19(f) may be paid in the form of a lump sum within 90 days after
20receipt of the bill. If the employer contributions are not paid
21within 90 days after receipt of the bill, then interest will be
22charged at a rate equal to the System's annual actuarially
23assumed rate of return on investment compounded annually from
24the 91st day after receipt of the bill. Payments must be
25concluded within 3 years after the employer's receipt of the
26bill.

 

 

HB3424- 65 -LRB099 02641 RPS 22647 b

1    (g) This subsection (g) applies only to payments made or
2salary increases given on or after June 1, 2005 but before July
31, 2011. The changes made by Public Act 94-1057 shall not
4require the System to refund any payments received before July
531, 2006 (the effective date of Public Act 94-1057).
6    When assessing payment for any amount due under subsection
7(f), the System shall exclude salary increases paid to teachers
8under contracts or collective bargaining agreements entered
9into, amended, or renewed before June 1, 2005.
10    When assessing payment for any amount due under subsection
11(f), the System shall exclude salary increases paid to a
12teacher at a time when the teacher is 10 or more years from
13retirement eligibility under Section 16-132 or 16-133.2.
14    When assessing payment for any amount due under subsection
15(f), the System shall exclude salary increases resulting from
16overload work, including summer school, when the school
17district has certified to the System, and the System has
18approved the certification, that (i) the overload work is for
19the sole purpose of classroom instruction in excess of the
20standard number of classes for a full-time teacher in a school
21district during a school year and (ii) the salary increases are
22equal to or less than the rate of pay for classroom instruction
23computed on the teacher's current salary and work schedule.
24    When assessing payment for any amount due under subsection
25(f), the System shall exclude a salary increase resulting from
26a promotion (i) for which the employee is required to hold a

 

 

HB3424- 66 -LRB099 02641 RPS 22647 b

1certificate or supervisory endorsement issued by the State
2Teacher Certification Board that is a different certification
3or supervisory endorsement than is required for the teacher's
4previous position and (ii) to a position that has existed and
5been filled by a member for no less than one complete academic
6year and the salary increase from the promotion is an increase
7that results in an amount no greater than the lesser of the
8average salary paid for other similar positions in the district
9requiring the same certification or the amount stipulated in
10the collective bargaining agreement for a similar position
11requiring the same certification.
12    When assessing payment for any amount due under subsection
13(f), the System shall exclude any payment to the teacher from
14the State of Illinois or the State Board of Education over
15which the employer does not have discretion, notwithstanding
16that the payment is included in the computation of final
17average salary.
18    (h) When assessing payment for any amount due under
19subsection (f), the System shall exclude any salary increase
20described in subsection (g) of this Section given on or after
21July 1, 2011 but before July 1, 2014 under a contract or
22collective bargaining agreement entered into, amended, or
23renewed on or after June 1, 2005 but before July 1, 2011.
24Notwithstanding any other provision of this Section, any
25payments made or salary increases given after June 30, 2014
26shall be used in assessing payment for any amount due under

 

 

HB3424- 67 -LRB099 02641 RPS 22647 b

1subsection (f) of this Section.
2    (i) The System shall prepare a report and file copies of
3the report with the Governor and the General Assembly by
4January 1, 2007 that contains all of the following information:
5        (1) The number of recalculations required by the
6    changes made to this Section by Public Act 94-1057 for each
7    employer.
8        (2) The dollar amount by which each employer's
9    contribution to the System was changed due to
10    recalculations required by Public Act 94-1057.
11        (3) The total amount the System received from each
12    employer as a result of the changes made to this Section by
13    Public Act 94-4.
14        (4) The increase in the required State contribution
15    resulting from the changes made to this Section by Public
16    Act 94-1057.
17    (j) For purposes of determining the required State
18contribution to the System, the value of the System's assets
19shall be equal to the actuarial value of the System's assets,
20which shall be calculated as follows:
21    As of June 30, 2008, the actuarial value of the System's
22assets shall be equal to the market value of the assets as of
23that date. In determining the actuarial value of the System's
24assets for fiscal years after June 30, 2008, any actuarial
25gains or losses from investment return incurred in a fiscal
26year shall be recognized in equal annual amounts over the

 

 

HB3424- 68 -LRB099 02641 RPS 22647 b

15-year period following that fiscal year.
2    (k) For purposes of determining the required State
3contribution to the system for a particular year, the actuarial
4value of assets shall be assumed to earn a rate of return equal
5to the system's actuarially assumed rate of return.
6(Source: P.A. 97-694, eff. 6-18-12; 97-813, eff. 7-13-12;
798-599, eff. 6-1-14; 98-674, eff. 6-30-14.)
 
8    (40 ILCS 5/18-131)  (from Ch. 108 1/2, par. 18-131)
9    Sec. 18-131. Financing; employer contributions.
10    (a) The State of Illinois shall make contributions to this
11System by appropriations of the amounts which, together with
12the contributions of participants, net earnings on
13investments, and other income, will meet the costs of
14maintaining and administering this System on a 100% 90% funded
15basis in accordance with actuarial recommendations.
16    (b) The Board shall determine the amount of State
17contributions required for each fiscal year on the basis of the
18actuarial tables and other assumptions adopted by the Board and
19the prescribed rate of interest, using the formula in
20subsection (c).
21    (c) For State fiscal years 2016 through 2045, the minimum
22contribution to the System to be made by the State for each
23fiscal year shall be an amount determined by the System to be
24sufficient to bring the total assets of the System up to 100%
25of the total actuarial liabilities of the System by the end of

 

 

HB3424- 69 -LRB099 02641 RPS 22647 b

1State fiscal year 2045. In making these determinations, the
2required State contribution shall be calculated each year as a
3level dollar amount over the years remaining to and including
4fiscal year 2045 and shall be determined under the entry age
5normal actuarial cost method.
6    For State fiscal years 2012 through 2015 2045, the minimum
7contribution to the System to be made by the State for each
8fiscal year shall be an amount determined by the System to be
9sufficient to bring the total assets of the System up to 90% of
10the total actuarial liabilities of the System by the end of
11State fiscal year 2045. In making these determinations, the
12required State contribution shall be calculated each year as a
13level percentage of payroll over the years remaining to and
14including fiscal year 2045 and shall be determined under the
15projected unit credit actuarial cost method.
16    For State fiscal years 1996 through 2005, the State
17contribution to the System, as a percentage of the applicable
18employee payroll, shall be increased in equal annual increments
19so that by State fiscal year 2011, the State is contributing at
20the rate required under this Section.
21    Notwithstanding any other provision of this Article, the
22total required State contribution for State fiscal year 2006 is
23$29,189,400.
24    Notwithstanding any other provision of this Article, the
25total required State contribution for State fiscal year 2007 is
26$35,236,800.

 

 

HB3424- 70 -LRB099 02641 RPS 22647 b

1    For each of State fiscal years 2008 through 2009, the State
2contribution to the System, as a percentage of the applicable
3employee payroll, shall be increased in equal annual increments
4from the required State contribution for State fiscal year
52007, so that by State fiscal year 2011, the State is
6contributing at the rate otherwise required under this Section.
7    Notwithstanding any other provision of this Article, the
8total required State contribution for State fiscal year 2010 is
9$78,832,000 and shall be made from the proceeds of bonds sold
10in fiscal year 2010 pursuant to Section 7.2 of the General
11Obligation Bond Act, less (i) the pro rata share of bond sale
12expenses determined by the System's share of total bond
13proceeds, (ii) any amounts received from the General Revenue
14Fund in fiscal year 2010, and (iii) any reduction in bond
15proceeds due to the issuance of discounted bonds, if
16applicable.
17    Notwithstanding any other provision of this Article, the
18total required State contribution for State fiscal year 2011 is
19the amount recertified by the System on or before April 1, 2011
20pursuant to Section 18-140 and shall be made from the proceeds
21of bonds sold in fiscal year 2011 pursuant to Section 7.2 of
22the General Obligation Bond Act, less (i) the pro rata share of
23bond sale expenses determined by the System's share of total
24bond proceeds, (ii) any amounts received from the General
25Revenue Fund in fiscal year 2011, and (iii) any reduction in
26bond proceeds due to the issuance of discounted bonds, if

 

 

HB3424- 71 -LRB099 02641 RPS 22647 b

1applicable.
2    Beginning in State fiscal year 2046, the minimum State
3contribution for each fiscal year shall be the amount needed to
4maintain the total assets of the System at 100% 90% of the
5total actuarial liabilities of the System.
6    Amounts received by the System pursuant to Section 25 of
7the Budget Stabilization Act or Section 8.12 of the State
8Finance Act in any fiscal year do not reduce and do not
9constitute payment of any portion of the minimum State
10contribution required under this Article in that fiscal year.
11Such amounts shall not reduce, and shall not be included in the
12calculation of, the required State contributions under this
13Article in any future year until the System has reached a
14funding ratio of at least 100% 90%. A reference in this Article
15to the "required State contribution" or any substantially
16similar term does not include or apply to any amounts payable
17to the System under Section 25 of the Budget Stabilization Act.
18    Notwithstanding any other provision of this Section, the
19required State contribution for State fiscal year 2005 and for
20fiscal year 2008 and each fiscal year thereafter through State
21fiscal year 2015, as calculated under this Section and
22certified under Section 18-140, shall not exceed an amount
23equal to (i) the amount of the required State contribution that
24would have been calculated under this Section for that fiscal
25year if the System had not received any payments under
26subsection (d) of Section 7.2 of the General Obligation Bond

 

 

HB3424- 72 -LRB099 02641 RPS 22647 b

1Act, minus (ii) the portion of the State's total debt service
2payments for that fiscal year on the bonds issued in fiscal
3year 2003 for the purposes of that Section 7.2, as determined
4and certified by the Comptroller, that is the same as the
5System's portion of the total moneys distributed under
6subsection (d) of Section 7.2 of the General Obligation Bond
7Act. In determining this maximum for State fiscal years 2008
8through 2010, however, the amount referred to in item (i) shall
9be increased, as a percentage of the applicable employee
10payroll, in equal increments calculated from the sum of the
11required State contribution for State fiscal year 2007 plus the
12applicable portion of the State's total debt service payments
13for fiscal year 2007 on the bonds issued in fiscal year 2003
14for the purposes of Section 7.2 of the General Obligation Bond
15Act, so that, by State fiscal year 2011, the State is
16contributing at the rate otherwise required under this Section.
17    (d) For purposes of determining the required State
18contribution to the System, the value of the System's assets
19shall be equal to the actuarial value of the System's assets,
20which shall be calculated as follows:
21    As of June 30, 2008, the actuarial value of the System's
22assets shall be equal to the market value of the assets as of
23that date. In determining the actuarial value of the System's
24assets for fiscal years after June 30, 2008, any actuarial
25gains or losses from investment return incurred in a fiscal
26year shall be recognized in equal annual amounts over the

 

 

HB3424- 73 -LRB099 02641 RPS 22647 b

15-year period following that fiscal year.
2    (e) For purposes of determining the required State
3contribution to the system for a particular year, the actuarial
4value of assets shall be assumed to earn a rate of return equal
5to the system's actuarially assumed rate of return.
6(Source: P.A. 96-43, eff. 7-15-09; 96-1497, eff. 1-14-11;
796-1511, eff. 1-27-11; 96-1554, eff. 3-18-11; 97-813, eff.
87-13-12.)
 
9    (40 ILCS 5/18-140)   (from Ch. 108 1/2, par. 18-140)
10    Sec. 18-140. To certify required State contributions and
11submit vouchers.
12    (a) The Board shall certify to the Governor, on or before
13November 15 of each year until November 15, 2011, the amount of
14the required State contribution to the System for the following
15fiscal year and shall specifically identify the System's
16projected State normal cost for that fiscal year. The
17certification shall include a copy of the actuarial
18recommendations upon which it is based and shall specifically
19identify the System's projected State normal cost for that
20fiscal year.
21    On or before November 1 of each year, beginning November 1,
222012, the Board shall submit to the State Actuary, the
23Governor, and the General Assembly a proposed certification of
24the amount of the required State contribution to the System for
25the next fiscal year, along with all of the actuarial

 

 

HB3424- 74 -LRB099 02641 RPS 22647 b

1assumptions, calculations, and data upon which that proposed
2certification is based. On or before January 1 of each year
3beginning January 1, 2013, the State Actuary shall issue a
4preliminary report concerning the proposed certification and
5identifying, if necessary, recommended changes in actuarial
6assumptions that the Board must consider before finalizing its
7certification of the required State contributions. On or before
8January 15, 2013 and every January 15 thereafter, the Board
9shall certify to the Governor and the General Assembly the
10amount of the required State contribution for the next fiscal
11year. The Board's certification must note any deviations from
12the State Actuary's recommended changes, the reason or reasons
13for not following the State Actuary's recommended changes, and
14the fiscal impact of not following the State Actuary's
15recommended changes on the required State contribution.
16    On or before May 1, 2004, the Board shall recalculate and
17recertify to the Governor the amount of the required State
18contribution to the System for State fiscal year 2005, taking
19into account the amounts appropriated to and received by the
20System under subsection (d) of Section 7.2 of the General
21Obligation Bond Act.
22    On or before July 1, 2005, the Board shall recalculate and
23recertify to the Governor the amount of the required State
24contribution to the System for State fiscal year 2006, taking
25into account the changes in required State contributions made
26by this amendatory Act of the 94th General Assembly.

 

 

HB3424- 75 -LRB099 02641 RPS 22647 b

1    On or before April 1, 2011, the Board shall recalculate and
2recertify to the Governor the amount of the required State
3contribution to the System for State fiscal year 2011, applying
4the changes made by Public Act 96-889 to the System's assets
5and liabilities as of June 30, 2009 as though Public Act 96-889
6was approved on that date.
7    As soon as practical after the effective date of this
8amendatory Act of the 99th General Assembly, the State Actuary
9and the Board shall recalculate and recertify to the Governor
10and the General Assembly the amount of the State contribution
11to the System for State fiscal year 2016, taking into account
12the changes in required State contributions made by this
13amendatory Act of the 99th General Assembly.
14    (b) Beginning in State fiscal year 1996, on or as soon as
15possible after the 15th day of each month the Board shall
16submit vouchers for payment of State contributions to the
17System, in a total monthly amount of one-twelfth of the
18required annual State contribution certified under subsection
19(a). From the effective date of this amendatory Act of the 93rd
20General Assembly through June 30, 2004, the Board shall not
21submit vouchers for the remainder of fiscal year 2004 in excess
22of the fiscal year 2004 certified contribution amount
23determined under this Section after taking into consideration
24the transfer to the System under subsection (c) of Section
256z-61 of the State Finance Act. These vouchers shall be paid by
26the State Comptroller and Treasurer by warrants drawn on the

 

 

HB3424- 76 -LRB099 02641 RPS 22647 b

1funds appropriated to the System for that fiscal year.
2    If in any month the amount remaining unexpended from all
3other appropriations to the System for the applicable fiscal
4year (including the appropriations to the System under Section
58.12 of the State Finance Act and Section 1 of the State
6Pension Funds Continuing Appropriation Act) is less than the
7amount lawfully vouchered under this Section, the difference
8shall be paid from the General Revenue Fund under the
9continuing appropriation authority provided in Section 1.1 of
10the State Pension Funds Continuing Appropriation Act.
11(Source: P.A. 96-1497, eff. 1-14-11; 96-1511, eff. 1-27-11;
1297-694, eff. 6-18-12.)

 

 

HB3424- 77 -LRB099 02641 RPS 22647 b

1 INDEX
2 Statutes amended in order of appearance
3    40 ILCS 5/1-161 new
4    40 ILCS 5/2-124from Ch. 108 1/2, par. 2-124
5    40 ILCS 5/2-134from Ch. 108 1/2, par. 2-134
6    40 ILCS 5/14-131
7    40 ILCS 5/14-135.08from Ch. 108 1/2, par. 14-135.08
8    40 ILCS 5/15-155from Ch. 108 1/2, par. 15-155
9    40 ILCS 5/15-165from Ch. 108 1/2, par. 15-165
10    40 ILCS 5/16-158from Ch. 108 1/2, par. 16-158
11    40 ILCS 5/18-131from Ch. 108 1/2, par. 18-131
12    40 ILCS 5/18-140from Ch. 108 1/2, par. 18-140