|
service, plus
interest at the effective rate from the date of |
service to the date of
payment. All payments for past service |
must be paid in full before credit
is given. No additional |
optional contributions may be made for any period
of service |
for which credit has been previously forfeited by acceptance of
|
a refund, unless the refund is repaid in full with interest at |
the
effective rate from the date of refund to the date of |
repayment.
|
(b) In lieu of the retirement annuity otherwise payable |
under this
Article, any county officer elected by vote of the |
people who (1) has
elected to participate in the Fund and make |
additional optional
contributions in accordance with this |
Section, and (2)
has attained age 60 with at least 10 years of |
service credit,
or has attained age 65 with at least 8 years of |
service credit, may elect
to have his retirement annuity |
computed as follows: 3% of the
participant's salary at the time |
of termination of service for each of the
first 8 years of |
service credit, plus 4% of such salary for each of the
next 4 |
years of service credit, plus
5% of such salary for each year |
of service credit in excess of 12 years,
subject to a maximum |
of 80% of such salary. To the extent such elected
county |
officer has made additional optional contributions with |
respect to
only a portion of his years of service credit, his |
retirement annuity will
first be determined in accordance with |
this Section to the extent such
additional optional |
contributions were made, and then in accordance with
the |
|
remaining Sections of this Article to the extent of years of |
service
credit with respect to which additional optional |
contributions were not made.
|
(c) In lieu of the disability benefits otherwise payable |
under this
Article, any county officer elected by vote of the |
people who (1) has
elected to participate in the Fund, and (2) |
has become
permanently disabled and as a consequence is unable |
to perform the duties
of his office, and (3) was making |
optional contributions in accordance with
this Section at the |
time the disability was incurred, may elect to receive
a |
disability annuity calculated in
accordance with the formula in |
subsection (b). For the purposes of this
subsection, such |
elected county officer shall be considered permanently
|
disabled only if: (i) disability occurs while in service as an |
elected
county officer and is of such a nature as to prevent |
him from reasonably
performing the duties of his office at the |
time; and (ii) the board has
received a written certification |
by at least 2 licensed physicians
appointed by it stating that |
such officer is disabled and that the
disability is likely to |
be permanent.
|
(d) Refunds of additional optional contributions shall be |
made on the
same basis and under the same conditions as |
provided under Section 9-164,
9-166 and 9-167. Interest shall |
be credited at the effective rate on the
same basis and under |
the same conditions as for other contributions.
Optional |
contributions shall be accounted for in a separate Elected |
|
County
Officer Optional Contribution Reserve. Optional |
contributions under this
Section shall be included in the |
amount of employee contributions used to
compute the tax levy |
under Section 9-169.
|
(e) The effective date of this plan of optional alternative |
benefits
and contributions shall be January 1, 1988, or the |
date upon which
approval is received from the U.S. Internal |
Revenue Service, whichever is
later. The plan of optional |
alternative benefits and contributions shall
not be available |
to any former county officer or employee receiving an
annuity |
from the Fund on the effective date of the plan, unless he
|
re-enters service as an elected county officer and renders at |
least 3 years
of additional service after the date of re-entry.
|
(f) The plan of optional alternative benefits and |
contributions authorized under this Section applies only to |
county officers elected by vote of the people on or before the |
effective date of this amendatory Act of the 95th General |
Assembly.
|
(Source: P.A. 85-964.)
|
Section 90. The State Mandates Act is amended by adding |
Section 8.31 as follows:
|
(30 ILCS 805/8.31 new) |
Sec. 8.31. Exempt mandate. Notwithstanding Sections 6 and 8 |
of this Act, no reimbursement by the State is required for the |