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1 | AN ACT concerning public employee benefits.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Illinois Pension Code is amended by adding | ||||||
5 | Section 9-179.4 as follows:
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6 | (40 ILCS 5/9-179.4 new) | ||||||
7 | Sec. 9-179.4. Service for periods of furlough or salary | ||||||
8 | reduction. | ||||||
9 | (a) A participant may establish service credit and earnings | ||||||
10 | credit for periods of furlough beginning on or after December | ||||||
11 | 1, 2017 and ending on or before November 30, 2018. To receive | ||||||
12 | this credit, the participant must (i) apply in writing to the | ||||||
13 | Fund before December 31, 2019; (ii) not receive compensation | ||||||
14 | from the county for any furlough period; and (iii) make, on an | ||||||
15 | after-tax basis, employee contributions required under this | ||||||
16 | Article based on his or her salary during the periods of | ||||||
17 | furlough, plus an amount determined by the Board to be equal to | ||||||
18 | the employer's normal cost of the benefit, plus compounded | ||||||
19 | interest at the actuarially assumed rate from the date of | ||||||
20 | furlough to the date of payment. The participant shall provide, | ||||||
21 | at the time of application, written certification from the | ||||||
22 | county providing the total number of furlough days a | ||||||
23 | participant has been required to take. |
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1 | (b) A participant may establish earnings credit for periods | ||||||
2 | of salary reduction beginning on or after December 1, 2017 and | ||||||
3 | ending on or before November 30, 2018 | ||||||
. To receive this credit, | |||||||
4 | the participant must: (1) apply in writing to the Fund before | ||||||
5 | December 31, 2019; and (2) make, on an after-tax basis, | ||||||
6 | employee contributions required under this Article based on the | ||||||
7 | reduction in salary, plus an amount determined by the Board to | ||||||
8 | be equal to the employer's normal cost of the benefit, plus | ||||||
9 | compounded interest at the actuarially assumed rate from the | ||||||
10 | date of reduction in salary to the date of payment. The | ||||||
11 | participant shall provide, at the time of application, written | ||||||
12 | certification from the county providing the total reduction in | ||||||
13 | salary per pay period for each pay period with a reduction in | ||||||
14 | salary.
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15 | Section 90. The State Mandates Act is amended by adding | ||||||
16 | Section 8.43 as follows:
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17 | (30 ILCS 805/8.43 new) | ||||||
18 | Sec. 8.43. Exempt mandate. Notwithstanding Sections 6 and 8 | ||||||
19 | of this Act, no reimbursement by the State is required for the | ||||||
20 | implementation of any mandate created by this amendatory Act of | ||||||
21 | the 101st General Assembly.
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22 | Section 99. Effective date. This Act takes effect upon | ||||||
23 | becoming law.
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