Bill Text: IL HB2352 | 2023-2024 | 103rd General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Amends the Illinois Pension Code. In the General Provisions Article, provides that beginning on January 1, 2024, the annual earnings, salary, or wages of a Tier 2 participant under the Cook County Article shall track with the Social Security wage base (rather than shall not exceed $106,800, adjusted annually). Makes conforming changes in the Cook County Article and provides that the county's contribution shall be paid through a tax levy and any other lawfully available funds. Further amends the Cook County Article. In a provision concerning establishing credit for military service, deletes a restrictive date and a requirement that the person must have at least 25 years of service credit. Requires the retirement board to retain an actuary who is a member in good standing of the American Academy of Actuaries to produce an annual actuarial report of the Fund and provides criteria for the report. Makes changes concerning the minimum required employer contribution. Provides that the annual audit required of the Fund may include the preparation of the annual actuarial report. Provides that the annual report submitted to the county board shall include the annual actuarial report. Requires that the minimum required employer contribution shall be submitted annually by the county and provides the method of determining the minimum required employer contribution. Provides that the county shall be notified by June 14 of each year of the proposed costs of any such payments allocated by the Fund for all or any portion of the total health premium paid by the Fund. Makes other changes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Spectrum: Partisan Bill (Democrat 10-0)
Status: (Passed) 2023-08-15 - Public Act . . . . . . . . . 103-0529 [HB2352 Detail]
Download: Illinois-2023-HB2352-Introduced.html
Bill Title: Amends the Illinois Pension Code. In the General Provisions Article, provides that beginning on January 1, 2024, the annual earnings, salary, or wages of a Tier 2 participant under the Cook County Article shall track with the Social Security wage base (rather than shall not exceed $106,800, adjusted annually). Makes conforming changes in the Cook County Article and provides that the county's contribution shall be paid through a tax levy and any other lawfully available funds. Further amends the Cook County Article. In a provision concerning establishing credit for military service, deletes a restrictive date and a requirement that the person must have at least 25 years of service credit. Requires the retirement board to retain an actuary who is a member in good standing of the American Academy of Actuaries to produce an annual actuarial report of the Fund and provides criteria for the report. Makes changes concerning the minimum required employer contribution. Provides that the annual audit required of the Fund may include the preparation of the annual actuarial report. Provides that the annual report submitted to the county board shall include the annual actuarial report. Requires that the minimum required employer contribution shall be submitted annually by the county and provides the method of determining the minimum required employer contribution. Provides that the county shall be notified by June 14 of each year of the proposed costs of any such payments allocated by the Fund for all or any portion of the total health premium paid by the Fund. Makes other changes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Spectrum: Partisan Bill (Democrat 10-0)
Status: (Passed) 2023-08-15 - Public Act . . . . . . . . . 103-0529 [HB2352 Detail]
Download: Illinois-2023-HB2352-Introduced.html
| ||||||||||||||||||||
| ||||||||||||||||||||
| ||||||||||||||||||||
| ||||||||||||||||||||
| ||||||||||||||||||||
1 | AN ACT concerning 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 Section 8-165 as follows:
| |||||||||||||||||||
6 | (40 ILCS 5/8-165) (from Ch. 108 1/2, par. 8-165)
| |||||||||||||||||||
7 | Sec. 8-165. Re-entry into service. | |||||||||||||||||||
8 | (a) Except as provided in subsection (c) or (d) , when an | |||||||||||||||||||
9 | employee receiving age and service or prior service
annuity | |||||||||||||||||||
10 | who has withdrawn from service after the effective date
| |||||||||||||||||||
11 | re-enters service before age 65, any annuity previously | |||||||||||||||||||
12 | granted and any
annuity fixed for his wife shall be cancelled. | |||||||||||||||||||
13 | The employee shall be
credited for annuity purposes with sums | |||||||||||||||||||
14 | sufficient to provide annuities
equal to those cancelled, as | |||||||||||||||||||
15 | of their ages on the date of re-entry;
provided, the maximum | |||||||||||||||||||
16 | age of the wife for this purpose shall be as
provided in | |||||||||||||||||||
17 | Section 8-155 of this Article.
| |||||||||||||||||||
18 | The sums so credited shall provide for annuities to be | |||||||||||||||||||
19 | fixed and
granted in the future. Contributions by the | |||||||||||||||||||
20 | employees
and the city for
the purposes of this Article shall | |||||||||||||||||||
21 | be made, and when the proper time
arrives, as provided in this | |||||||||||||||||||
22 | Article, new annuities based upon the total
credit for annuity | |||||||||||||||||||
23 | purposes and the entire term of his service shall be
fixed for |
| |||||||
| |||||||
1 | the employee and his wife.
| ||||||
2 | If the employee's wife died before he re-entered service, | ||||||
3 | no part of
any credits for widow's or widow's prior service | ||||||
4 | annuity at the time
annuity for his wife was fixed shall be | ||||||
5 | credited upon re-entry into
service, and no such sums shall | ||||||
6 | thereafter be used to provide such
annuity.
| ||||||
7 | (b) Except as provided in subsection (c) or (d) , when an | ||||||
8 | employee re-enters service after age 65, payments on
account | ||||||
9 | of any annuity previously granted shall be suspended during | ||||||
10 | the
time thereafter that he is in service, and when he again | ||||||
11 | withdraws,
annuity payments shall be resumed. If the employee | ||||||
12 | dies in service, his
widow shall receive the amount of annuity | ||||||
13 | previously fixed for her.
| ||||||
14 | (c) For school years beginning on or after July 1, 2021, an | ||||||
15 | age and service or prior service
annuity shall not be | ||||||
16 | cancelled in the case of an employee who is re-employed by the | ||||||
17 | Board of Education of the city as a Special Education | ||||||
18 | Classroom Assistant or Classroom Assistant on a temporary and | ||||||
19 | non-annual basis or on an hourly basis so long as the person: | ||||||
20 | (1) does not work for compensation on more than 120 days in a | ||||||
21 | school year; or (2) does not accept gross compensation for the | ||||||
22 | re-employment in a school year in excess of $30,000. These | ||||||
23 | limitations apply only to school years that begin on or after | ||||||
24 | July 1, 2021. Re-employment under this subsection does not | ||||||
25 | require contributions, result in service credit being earned | ||||||
26 | or granted, or constitute active participation in the Fund. |
| |||||||
| |||||||
1 | (d) For school years beginning on or after July 1, 2023, an | ||||||
2 | age and service or prior service annuity shall not be | ||||||
3 | cancelled in the case of an employee who is re-employed by the | ||||||
4 | Board of Education of the city as a paraprofessional or | ||||||
5 | related service provider on a temporary and non-annual basis | ||||||
6 | or on an hourly basis so long as the person: (1) does not work | ||||||
7 | for compensation on more than 120 days in a school year; or (2) | ||||||
8 | does not accept gross compensation for the re-employment in a | ||||||
9 | school year in excess of $30,000. These limitations apply only | ||||||
10 | to school years that begin on or after July 1, 2023. | ||||||
11 | Re-employment under this subsection does not require | ||||||
12 | contributions, result in service credit being earned or | ||||||
13 | granted, or constitute active participation in the Fund. | ||||||
14 | (Source: P.A. 102-342, eff. 8-13-21.)
| ||||||
15 | Section 99. Effective date. This Act takes effect upon | ||||||
16 | becoming law.
|