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90_HB3846
40 ILCS 5/14-104.9 from Ch. 108 1/2, par. 14-104.9
Amends the State Employee Article of the Illinois Pension
Code. Allows an employee to purchase service credit for up
to 2 years of educational leave under specified
circumstances. Requires payment of employee and employer
contributions plus interest. Effective immediately.
LRB9006963EGfg
LRB9006963EGfg
1 AN ACT to amend the Illinois Pension Code by changing
2 Section 14-104.9.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Pension Code is amended by
6 changing Section 14-104.9 as follows
7 (40 ILCS 5/14-104.9) (from Ch. 108 1/2, par. 14-104.9)
8 Sec. 14-104.9. Credit for leave of absence.
9 (a) A member may establish creditable service under this
10 Article for up to one year during which he or she was on a
11 leave of absence from employment for which credit is not
12 otherwise available under this Code, subject to the following
13 conditions: (1) the leave of absence terminated before
14 January 1, 1971, and (2) on or before March 1, 1993, the
15 member files a written application with the System and
16 contributes to the System an amount determined by the Board,
17 equal to (i) employee contributions at the appropriate rate
18 in effect for members of this System during the period for
19 which credit is being established, and based upon the
20 compensation received by the applicant at the time the leave
21 began, plus (ii) the employer's share of the normal cost of
22 the creditable service being established, plus (iii) regular
23 interest, compounded annually, from the date of service to
24 the date of payment.
25 (b) A member who has not established creditable service
26 under subsection (a) of this Section may establish creditable
27 service under this Article for up to 2 years spent pursuing a
28 graduate degree while on an educational leave of absence from
29 employment, provided that (1) the member does not receive
30 service credit for that leave under any other provision of
31 this Code; (2) the educational leave of absence terminated
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1 before January 1, 1971; and (3) on or before January 1, 1999,
2 the member files a written application with the System and
3 contributes to the System an amount determined by the Board,
4 equal to (i) employee contributions at the appropriate rate
5 in effect for members of this System during the period for
6 which credit is being established, based upon the
7 compensation received by the applicant at the time the leave
8 began, plus (ii) the employer's share of the normal cost of
9 the creditable service being established, plus (iii) regular
10 interest, compounded annually, from the date of service to
11 the date of payment.
12 (Source: P.A. 87-1265.)
13 Section 99. Effective date. This Act takes effect upon
14 becoming law.