101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
SB1582
 
Introduced 2/15/2019, by Sen. John F. Curran
 
SYNOPSIS AS INTRODUCED:



  
40 ILCS 5/13-208 from Ch. 108 1/2, par. 13-208

 Amends the Metropolitan Water Reclamation District Article of the Illinois Pension Code. Provides that "average final salary" means the highest average monthly (instead of annual) salary as calculated by accumulating the salary for the highest 520 consecutive paid days of service (instead of 52 consecutive pay periods) within the last 10 years of service immediately preceding the date of retirement and dividing by 24 (instead of 2). Provides that if the employee is paid for any portion of a work day, the fraction of the day worked and the salary for that fraction of the day shall be counted in accordance with the Fund's administrative rules. Effective immediately.



LRB101 07577 RPS 52622 b


FISCAL NOTE ACT MAY APPLY
PENSION IMPACT NOTE ACT MAY APPLY
 
 
A BILL FOR
 


SB1582LRB101 07577 RPS 52622 b



1 AN ACT concerning public employee benefits.


2 Be it enacted by the People of the State of Illinois,

3represented in the General Assembly:



4 Section 5. The Illinois Pension Code is amended by changing 
5Section 13-208 as follows:




6 (40 ILCS 5/13-208) (from Ch. 108 1/2, par. 13-208)



7 Sec. 13-208. "Average final salary": The highest average 
8monthly annual salary
as calculated by accumulating the salary 
9for the highest 520 52
consecutive paid days of service pay 
10periods within the last 10 years of service immediately

11preceding the date of retirement and dividing by 24 2. If the 
12employee is paid for any portion of a work day, the fraction of 
13the day worked and the salary for that fraction of the day 
14shall be counted in accordance with the Fund's administrative 
15rules. 

16(Source: P.A. 90-12, eff. 6-13-97.)



17 Section 99. Effective date. This Act takes effect upon 
18becoming law.