Full Text of HB5964 95th General Assembly
HB5964 95TH GENERAL ASSEMBLY
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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB5964
Introduced , by Rep. Robert S. Molaro SYNOPSIS AS INTRODUCED:
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40 ILCS 5/14-103.12 |
from Ch. 108 1/2, par. 14-103.12 |
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Amends the State Employee Article of the Illinois Pension Code. Sets the rate of compensation for a person who takes a leave of absence at the rate of compensation on the day before the date the leave began. Effective immediately.
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| FISCAL NOTE ACT MAY APPLY | |
PENSION IMPACT NOTE ACT MAY APPLY |
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A BILL FOR
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HB5964 |
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LRB095 19223 AMC 45830 b |
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| AN ACT concerning public employee benefits.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Illinois Pension Code is amended by changing | | 5 |
| Sections 14-103.12 and 14-152.2 as follows:
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| (40 ILCS 5/14-103.12) (from Ch. 108 1/2, par. 14-103.12)
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| Sec. 14-103.12. Final average compensation.
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| (a) For retirement and
survivor annuities, "final average | | 9 |
| compensation" means the monthly
compensation obtained by | | 10 |
| dividing the total compensation of an employee
during the | | 11 |
| period of: (1) the 48 consecutive months of service within the
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| last 120 months of service in which the total compensation was | | 13 |
| the highest,
or (2) the total period of service, if less than | | 14 |
| 48 months, by the number
of months of service in such period; | | 15 |
| provided that for purposes of
a retirement annuity the average | | 16 |
| compensation for the last 12 months of the
48-month period | | 17 |
| shall not exceed the final average compensation by more than
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| 25%. For an employee on leave of absence with pay, or on leave | | 19 |
| of absence without pay who makes contributions as determined by | | 20 |
| rule of the Board, the rate of compensation is assumed to be | | 21 |
| equal to the rate of compensation on the day before the date | | 22 |
| the leave began. In compliance with Section 14-152.1 of this | | 23 |
| Act, funding for any new benefit increase as a result of the |
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HB5964 |
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LRB095 19223 AMC 45830 b |
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| changes made to this subsection (a) will be provided by | | 2 |
| employee contributions.
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| (b) For death and disability benefits, in the case of a | | 4 |
| full-time
employee, "final average compensation" means the | | 5 |
| greater of (1) the rate
of compensation of the employee at the | | 6 |
| date of death or disability
multiplied by 1 in the case of a | | 7 |
| salaried employee, by 174 in the case of
an hourly employee, | | 8 |
| and by 22 in the case of a per diem employee, or (2)
for | | 9 |
| benefits commencing on or after January 1, 1991, final average
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| compensation as determined under subsection (a).
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| For purposes of this paragraph, full or part-time status | | 12 |
| shall be
certified by the employing agency. Final rate of | | 13 |
| compensation for a
part-time employee shall be the total | | 14 |
| compensation earned during the last
full calendar month prior | | 15 |
| to the date of death or disability.
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| (c) Notwithstanding the provisions of subsection (a), for | | 17 |
| the purpose
of calculating retirement and survivor annuities of | | 18 |
| persons with at least
20 years of eligible creditable service | | 19 |
| as defined in Section 14-110, "final average compensation" | | 20 |
| means the monthly rate of
compensation received by the person | | 21 |
| on the last day of eligible creditable
service (but not to | | 22 |
| exceed 115% of the average monthly compensation received
by the | | 23 |
| person for the last 24 months of service, unless the person was | | 24 |
| in
service as a State policeman before the effective date of | | 25 |
| this amendatory
Act of 1997), or the average monthly | | 26 |
| compensation received by the person for
the last 48 months of |
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HB5964 |
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LRB095 19223 AMC 45830 b |
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| service prior to retirement, whichever is greater.
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| (d) Notwithstanding the provisions of subsection (a), for a | | 3 |
| person who
was receiving, on the date of retirement or death, a | | 4 |
| disability benefit
calculated under subdivision (b)(2) of this | | 5 |
| Section, the final average
compensation used to calculate the | | 6 |
| disability benefit may be used for
purposes of calculating the | | 7 |
| retirement and survivor annuities.
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| (e) In computing the final average compensation, periods of | | 9 |
| military leave
shall not be considered.
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| (f) The changes to this Section made by this amendatory Act | | 11 |
| of 1997
(redefining final average compensation for members | | 12 |
| under the alternative
formula) apply to members who retire on | | 13 |
| or after January 1, 1998, without
regard to whether employment | | 14 |
| terminated before the effective date of this
amendatory Act of | | 15 |
| 1997.
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| (Source: P.A. 90-65, eff. 7-7-97.)
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| Section 99. Effective date. This Act takes effect upon | | 18 |
| becoming law.
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