State of Illinois
92nd General Assembly
Legislation

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92_SB0328

 
                                               LRB9207859EGfg

 1        AN ACT in relation to public employee benefits.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5.  The  Illinois  Pension  Code  is  amended  by
 5    changing Sections 2-117 and 14-105.1 as follows:

 6        (40 ILCS 5/2-117) (from Ch. 108 1/2, par. 2-117)
 7        Sec. 2-117.  Participants - Election not to participate.
 8        (a)  Every  person  who was a member on November 1, 1947,
 9    or in military service  on  such  date,  is  subject  to  the
10    provisions  of  this  system beginning upon such date, unless
11    prior to such date he or she filed with the board  a  written
12    notice of election not to participate.
13        Every person who becomes a member after November 1, 1947,
14    and  who  is  then  not  a  participant becomes a participant
15    beginning upon the date of becoming a member  unless,  within
16    24  months from that date, he or she has filed with the board
17    a written notice of election not to participate.
18        (b)  A member who has filed notice of an election not  to
19    participate  (and  a  former  member who has not yet begun to
20    receive a retirement annuity under this Article) may become a
21    participant with respect to the period for which  the  member
22    elected not to participate upon filing with the board, before
23    April  1, 2002 1993, a written rescission of the election not
24    to participate.  Upon contributing an  amount  equal  to  the
25    contributions he or she would have made as a participant from
26    November 1, 1947, or the date of becoming a member, whichever
27    is  later,  to  the  date  of  becoming  a  participant, with
28    interest at the rate of 4% per annum until the  contributions
29    are paid, the participant shall receive credit for service as
30    a member prior to the date of the rescission, both before and
31    after  November 1, 1947.  The required contributions shall be
 
                            -2-                LRB9207859EGfg
 1    made before commencement of the retirement annuity; otherwise
 2    no credit for service prior  to  the  date  of  participation
 3    shall be granted.
 4    (Source: P.A. 86-273; 87-1265.)

 5        (40 ILCS 5/14-105.1) (from Ch. 108 1/2, par. 14-105.1)
 6        Sec. 14-105.1. General Assembly transfers of credit.
 7        (a)  Any  active  (and  until  April  1, 2002 February 1,
 8    1993, any former) member of the General  Assembly  Retirement
 9    System  may  apply for transfer of his credits and creditable
10    service accumulated under this System to the General Assembly
11    System or a Fund established under Article 5 or  12  of  this
12    Code.    Such   credits   and  creditable  service  shall  be
13    transferred forthwith.  Payment by this System to the General
14    Assembly Retirement System  or  the  Fund  established  under
15    Article  5  or  12  shall  be made at the same time and shall
16    consist of:
17             (1)  the amounts accumulated to the  credit  of  the
18        applicant,  including  regular  interest, on the books of
19        the System on the date of transfer; and
20             (2)  employer contributions in an  amount  equal  to
21        the  amount  of  member contributions as determined under
22        subparagraph (1).
23    Participation in this System as to  any  credits  transferred
24    under this Section shall terminate on the date of transfer.
25        (b)  An  active  (and  until  February 1, 1993, a former)
26    member of the General Assembly who has  service  credits  and
27    creditable  service under the System may establish additional
28    service credits and creditable  service  for  periods  during
29    which  he  was  an elected official and could have elected to
30    participate but  did  not  so  elect.   Service  credits  and
31    creditable  service  may  be  established  by  payment to the
32    System of an amount equal to the contributions he would  have
33    made  if he had elected to participate, plus regular interest
 
                            -3-                LRB9207859EGfg
 1    to the date of payment.
 2        (c)  An active (and until February  1,  1993,  a  former)
 3    member   of   the  General  Assembly  Retirement  System  may
 4    reinstate service and service credits terminated upon receipt
 5    of a separation benefit, by payment  to  the  System  of  the
 6    amount  of  the  separation  benefit  plus  regular  interest
 7    thereon to the date of payment.
 8    (Source: P.A. 86-27; 86-273; 86-1028; 86-1488; 87-794.)

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

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