Bill Text: IL SB2389 | 2013-2014 | 98th General Assembly | Amended
Bill Title: Amends the School Code. Makes a technical change in a Section concerning pupil residency and the payment of tuition.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Failed) 2015-01-13 - Session Sine Die [SB2389 Detail]
Download: Illinois-2013-SB2389-Amended.html
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1 | AMENDMENT TO SENATE BILL 2389
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2 | AMENDMENT NO. ______. Amend Senate Bill 2389, AS AMENDED, | ||||||
3 | by replacing everything after the enacting clause with the | ||||||
4 | following:
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5 | "Section 5. If and only if Senate Bill 1687 of the 98th | ||||||
6 | General Assembly becomes law, the Illinois Pension Code is | ||||||
7 | amended by changing Section 15-155 as follows:
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8 | (40 ILCS 5/15-155) (from Ch. 108 1/2, par. 15-155)
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9 | Sec. 15-155. State and employer contributions.
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10 | (a) The State of Illinois shall make contributions by | ||||||
11 | appropriations of
amounts which, together with contributions | ||||||
12 | paid by employers, other employer contributions from trust,
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13 | federal, and other funds, employee contributions, income from | ||||||
14 | investments,
and other income of this System, will be | ||||||
15 | sufficient to meet the cost of
maintaining and administering | ||||||
16 | the System in accordance
with actuarial recommendations.
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1 | The Board shall determine the amount of State and employer | ||||||
2 | contributions required for
each fiscal year on the basis of the | ||||||
3 | actuarial tables and other assumptions
adopted by the Board and | ||||||
4 | the recommendations of the System's actuary, using the formulas | ||||||
5 | provided in this Section.
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6 | The System shall make all necessary assumptions to | ||||||
7 | determine and allocate total demographic gains and losses for | ||||||
8 | the purpose of determining State and employer contributions | ||||||
9 | under this Section. Such assumptions shall include but not be | ||||||
10 | limited to the rates of retirement, termination, disability, | ||||||
11 | and mortality. | ||||||
12 | (a-1) For State fiscal years 2012 through 2014, the minimum | ||||||
13 | contribution
to the System to be made by the State for each | ||||||
14 | fiscal year shall be an amount
determined by the System to be | ||||||
15 | sufficient to bring the total assets of the
System up to 90% of | ||||||
16 | the total actuarial liabilities of the System by the end of
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17 | State fiscal year 2045. In making these determinations, the | ||||||
18 | required State
contribution shall be calculated each year as a | ||||||
19 | level percentage of payroll
over the years remaining to and | ||||||
20 | including fiscal year 2045 and shall be
determined under the | ||||||
21 | projected unit credit actuarial cost method.
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22 | For State fiscal years 2015 through 2044, the minimum | ||||||
23 | contribution
to the System to be made by the State for each | ||||||
24 | fiscal year shall be an amount
determined by the System to be | ||||||
25 | sufficient to bring the total actuarial assets of the
System | ||||||
26 | attributable to the State up to 100% of the total actuarial |
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1 | liabilities of the System attributable to the State by the end | ||||||
2 | of
State fiscal year 2044. In making these determinations, the | ||||||
3 | required State
contribution shall be calculated each year as a | ||||||
4 | level percentage of payroll
over the years remaining to and | ||||||
5 | including fiscal year 2044 and shall be
determined under the | ||||||
6 | entry age normal actuarial cost method. | ||||||
7 | If at the end of State fiscal year 2044 the total actuarial | ||||||
8 | assets of the
System attributable to the State are less than | ||||||
9 | 100% of the total actuarial liabilities of the System | ||||||
10 | attributable to the State, the System shall determine the | ||||||
11 | amount necessary to bring that those assets up to 100% of those | ||||||
12 | liabilities and shall certify that amount as a required State | ||||||
13 | contribution for State fiscal year 2046, and the State shall | ||||||
14 | pay that amount to the System in State fiscal year 2046. | ||||||
15 | Beginning when the State has paid the contribution required | ||||||
16 | under this subsection (a-1) for fiscal year 2046, or in State | ||||||
17 | fiscal year 2045 if no such contribution for fiscal year 2046 | ||||||
18 | is required, the State has no further obligation to make | ||||||
19 | contributions to the System under this subsection (a-1). | ||||||
20 | For the purposes of this Article, "total actuarial | ||||||
21 | liabilities of the System attributable to the State" means the | ||||||
22 | total liabilities of the System less any notional liabilities | ||||||
23 | assigned to employer accounts under Section 15-155.2. | ||||||
24 | For the purposes of this Article, "total actuarial assets | ||||||
25 | of the System attributable to the State" means the total assets | ||||||
26 | of the System less any notional assets assigned to employer |
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1 | accounts under Section 15-155.2. | ||||||
2 | For State fiscal years 1996 through 2005, the State | ||||||
3 | contribution to
the System, as a percentage of the applicable | ||||||
4 | employee payroll, shall be
increased in equal annual increments | ||||||
5 | so that by State fiscal year 2011, the
State is contributing at | ||||||
6 | the rate required under this Section.
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7 | Notwithstanding any other provision of this Article, the | ||||||
8 | total required State
contribution for State fiscal year 2006 is | ||||||
9 | $166,641,900.
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10 | Notwithstanding any other provision of this Article, the | ||||||
11 | total required State
contribution for State fiscal year 2007 is | ||||||
12 | $252,064,100.
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13 | For each of State fiscal years 2008 through 2009, the State | ||||||
14 | contribution to
the System, as a percentage of the applicable | ||||||
15 | employee payroll, shall be
increased in equal annual increments | ||||||
16 | from the required State contribution for State fiscal year | ||||||
17 | 2007, so that by State fiscal year 2011, the
State is | ||||||
18 | contributing at the rate otherwise required under this Section.
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19 | Notwithstanding any other provision of this Article, the | ||||||
20 | total required State contribution for State fiscal year 2010 is | ||||||
21 | $702,514,000 and shall be made from the State Pensions Fund and | ||||||
22 | proceeds of bonds sold in fiscal year 2010 pursuant to Section | ||||||
23 | 7.2 of the General Obligation Bond Act, less (i) the pro rata | ||||||
24 | share of bond sale expenses determined by the System's share of | ||||||
25 | total bond proceeds, (ii) any amounts received from the General | ||||||
26 | Revenue Fund in fiscal year 2010, (iii) any reduction in bond |
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1 | proceeds due to the issuance of discounted bonds, if | ||||||
2 | applicable. | ||||||
3 | Notwithstanding any other provision of this Article, the
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4 | total required State contribution for State fiscal year 2011 is
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5 | the amount recertified by the System on or before April 1, 2011 | ||||||
6 | pursuant to Section 15-165 and shall be made from the State | ||||||
7 | Pensions Fund and
proceeds of bonds sold in fiscal year 2011 | ||||||
8 | pursuant to Section
7.2 of the General Obligation Bond Act, | ||||||
9 | less (i) the pro rata
share of bond sale expenses determined by | ||||||
10 | the System's share of
total bond proceeds, (ii) any amounts | ||||||
11 | received from the General
Revenue Fund in fiscal year 2011, and | ||||||
12 | (iii) any reduction in bond
proceeds due to the issuance of | ||||||
13 | discounted bonds, if
applicable.
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14 | Amounts received by the System pursuant to Section 25 of | ||||||
15 | the Budget Stabilization Act or Section 8.12 of the State | ||||||
16 | Finance Act in any fiscal year do not reduce and do not | ||||||
17 | constitute payment of any portion of the minimum State | ||||||
18 | contribution required under this Article in that fiscal year. | ||||||
19 | Such amounts shall not reduce, and shall not be included in the | ||||||
20 | calculation of, the required State contributions under this | ||||||
21 | Article in any future year until the System has reached a | ||||||
22 | funding ratio of at least 90%. A reference in this Article to | ||||||
23 | the "required State contribution" or any substantially similar | ||||||
24 | term does not include or apply to any amounts payable to the | ||||||
25 | System under Section 25 of the Budget Stabilization Act. | ||||||
26 | Notwithstanding any other provision of this Section, the |
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1 | required State
contribution for State fiscal year 2005 and for | ||||||
2 | fiscal year 2008 through fiscal year 2014, as
calculated under | ||||||
3 | this Section and
certified under Section 15-165, shall not | ||||||
4 | exceed an amount equal to (i) the
amount of the required State | ||||||
5 | contribution that would have been calculated under
this Section | ||||||
6 | for that fiscal year if the System had not received any | ||||||
7 | payments
under subsection (d) of Section 7.2 of the General | ||||||
8 | Obligation Bond Act, minus
(ii) the portion of the State's | ||||||
9 | total debt service payments for that fiscal
year on the bonds | ||||||
10 | issued in fiscal year 2003 for the purposes of that Section | ||||||
11 | 7.2, as determined
and certified by the Comptroller, that is | ||||||
12 | the same as the System's portion of
the total moneys | ||||||
13 | distributed under subsection (d) of Section 7.2 of the General
| ||||||
14 | Obligation Bond Act. In determining this maximum for State | ||||||
15 | fiscal years 2008 through 2010, however, the amount referred to | ||||||
16 | in item (i) shall be increased, as a percentage of the | ||||||
17 | applicable employee payroll, in equal increments calculated | ||||||
18 | from the sum of the required State contribution for State | ||||||
19 | fiscal year 2007 plus the applicable portion of the State's | ||||||
20 | total debt service payments for fiscal year 2007 on the bonds | ||||||
21 | issued in fiscal year 2003 for the purposes of Section 7.2 of | ||||||
22 | the General
Obligation Bond Act, so that, by State fiscal year | ||||||
23 | 2011, the
State is contributing at the rate otherwise required | ||||||
24 | under this Section.
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25 | (a-5) In addition to the contributions that the State is | ||||||
26 | otherwise required to make under this Article, beginning in |
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1 | fiscal year 2015 and in each fiscal year thereafter until the | ||||||
2 | State has no further obligation to make contributions to the | ||||||
3 | System under subsection (a-1), the State shall be required to | ||||||
4 | make an additional contribution to the System equal to the | ||||||
5 | projected dollar amount of contributions to be made by | ||||||
6 | employers pursuant to items (i) and (vi) of subsection (a-10) | ||||||
7 | for that fiscal year. Contributions required to be made | ||||||
8 | pursuant to this subsection do not reduce and do not constitute | ||||||
9 | payment of any portion of the required State contribution made | ||||||
10 | to the System pursuant to subsection (a-1) in that fiscal year. | ||||||
11 | A contribution required to be made pursuant to this subsection | ||||||
12 | shall not reduce, and shall not be included in the calculation | ||||||
13 | of, the required contribution to be made by the State pursuant | ||||||
14 | to subsection (a-1) in any future year, until the System has | ||||||
15 | received the contribution pursuant to this subsection. | ||||||
16 | (a-10) Subject to the limitations provided in subsection | ||||||
17 | (a-15) of this Section, beginning with State fiscal year 2015, | ||||||
18 | each employer under this Article shall pay to the System a | ||||||
19 | required contribution determined as a percentage of projected | ||||||
20 | payroll and sufficient to produce an annual amount equal to: | ||||||
21 | (i) the employer normal cost for that fiscal year for | ||||||
22 | participating employees of that employer (excluding costs | ||||||
23 | attributable to any new benefit increases approved by that | ||||||
24 | employer pursuant to Section 15-198), determined as a | ||||||
25 | percentage of applicable payroll; plus | ||||||
26 | (ii) the amount required for that fiscal year to |
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1 | amortize any unfunded actuarial accrued liability | ||||||
2 | associated with the present value of liabilities | ||||||
3 | attributable to the employer's account under Section | ||||||
4 | 15-155.2 (excluding costs attributable to any new benefit | ||||||
5 | increases approved by that employer pursuant to Section | ||||||
6 | 15-198), determined
as a level percentage of payroll over a | ||||||
7 | 30-year rolling amortization period; plus | ||||||
8 | (iii) that employer's normal cost for that fiscal year | ||||||
9 | attributable to all new benefit increases approved by that | ||||||
10 | employer pursuant to Section 15-198; plus | ||||||
11 | (iv) the amounts required for that fiscal year to | ||||||
12 | amortize any unfunded actuarial accrued liability | ||||||
13 | associated with the present value of each new benefit | ||||||
14 | increase approved by that employer pursuant to Section | ||||||
15 | 15-198, determined as a level percentage of payroll over a | ||||||
16 | fixed 10-year amortization period; plus | ||||||
17 | (v) beginning when the State has no further obligation | ||||||
18 | to make contributions to the System under subsection (a-1), | ||||||
19 | the amount required for that fiscal year to amortize any | ||||||
20 | unfunded actuarial accrued liability of the System not | ||||||
21 | attributable to any employer's account under Section | ||||||
22 | 15-155.2, determined
as a level percentage of payroll over | ||||||
23 | a 30-year rolling amortization period; plus | ||||||
24 | (vi) the amount of employer contributions for that | ||||||
25 | fiscal year required for employees of that employer who | ||||||
26 | participate in the self-managed plan under Section |
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1 | 15-158.2. | ||||||
2 | In determining contributions required under item (i) of | ||||||
3 | this subsection, the System shall determine an aggregate rate | ||||||
4 | for all employers, expressed as a percentage of projected | ||||||
5 | payroll, exclusive of costs attributable to any new benefit | ||||||
6 | increase approved pursuant to Section 15-198 and exclusive of | ||||||
7 | employer contributions required for participating employees of | ||||||
8 | the self-managed plan under Section 15-158.2. | ||||||
9 | In determining contributions required under item (ii) of | ||||||
10 | this subsection, the System shall determine an individual rate | ||||||
11 | determined as a percentage of projected payroll applicable to | ||||||
12 | each employer based on that employer's individual account under | ||||||
13 | Section 15-155.2, exclusive of (i) any liabilities | ||||||
14 | attributable to the System as a whole rather than to the | ||||||
15 | employer's account and (ii) costs attributable to any new | ||||||
16 | benefit increase approved pursuant to Section 15-198. | ||||||
17 | In determining contributions required under items (iii) | ||||||
18 | and (iv) of this subsection, the System shall determine an | ||||||
19 | individual rate determined as a percentage of projected payroll | ||||||
20 | applicable to each employer that approves a new benefit | ||||||
21 | increase pursuant to Section 15-198. | ||||||
22 | In determining contributions required under item (v) of | ||||||
23 | this subsection, the System shall determine an aggregate rate | ||||||
24 | determined as a percentage of projected payroll applicable to | ||||||
25 | all employers under the System. | ||||||
26 | The contributions required under this subsection (a-10) |
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1 | shall be paid by an employer concurrently with that employer's | ||||||
2 | payroll payment period. | ||||||
3 | (a-15) For State fiscal year 2015, the required | ||||||
4 | contribution of employers under item (i) of subsection (a-10) | ||||||
5 | shall be reduced to an amount equal to 0.5% of applicable | ||||||
6 | payroll. For each fiscal year thereafter, the required | ||||||
7 | contribution of employers under item (i) of subsection (a-10) | ||||||
8 | shall be the percentage of projected payroll required under | ||||||
9 | this subsection (a-15) for the previous fiscal year, increased | ||||||
10 | by 0.5% of payroll, except that when the percentage of | ||||||
11 | projected payroll required under this subsection (a-15) first | ||||||
12 | reaches the percentage of payroll required under item (i) of | ||||||
13 | subsection (a-10), this subsection (a-15) shall cease to apply. | ||||||
14 | For State fiscal year 2015, the required contribution of | ||||||
15 | employers under item (vi) of subsection (a-10) shall be reduced | ||||||
16 | to an amount equal to 0.5% of applicable payroll. For each | ||||||
17 | fiscal year thereafter, the required contribution of employers | ||||||
18 | under item (vi) of subsection (a-10) shall be the percentage of | ||||||
19 | projected payroll required under this subsection (a-15) for the | ||||||
20 | previous fiscal year, increased by 0.5% of payroll, except that | ||||||
21 | when the percentage of payroll required under this subsection | ||||||
22 | (a-15) first reaches the percentage of payroll required under | ||||||
23 | item (vi) of subsection (a-10), this subsection (a-15) shall | ||||||
24 | cease to apply. | ||||||
25 | The limitations in this subsection (a-15) do not apply to | ||||||
26 | (i) employer contributions required to be made under subsection |
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1 | (b) of this Section for employees who are compensated out of | ||||||
2 | trust or federal funds, (ii) contributions required to be made | ||||||
3 | by the City of Champaign or the City of Urbana for individuals | ||||||
4 | described under subsection (h) of Section 15-107, (iii) | ||||||
5 | contributions required to be made by a teacher organization for | ||||||
6 | individuals described under subsection (i) of Section 15-107, | ||||||
7 | or (iv) contributions required to be made by a teacher | ||||||
8 | organization for individuals on special leave of absence under | ||||||
9 | Section 15-113.2. | ||||||
10 | (b) If an employee is paid from trust or federal funds, the | ||||||
11 | employer
shall pay to the Board contributions from those funds | ||||||
12 | which are
sufficient to cover the accruing normal costs on | ||||||
13 | behalf of the employee.
However, universities having employees | ||||||
14 | who are compensated out of local
auxiliary funds, income funds, | ||||||
15 | or service enterprise funds are not required
to pay such | ||||||
16 | contributions on behalf of those employees prior to July 1, | ||||||
17 | 2014. Beginning July 1, 2014, universities having employees who | ||||||
18 | are compensated out of local auxiliary funds, income funds, or | ||||||
19 | service enterprise funds shall pay to the Board contributions | ||||||
20 | from those funds that are sufficient to cover the accruing | ||||||
21 | normal costs on behalf of those employees. The local auxiliary
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22 | funds, income funds, and service enterprise funds of | ||||||
23 | universities shall not be
considered trust funds for the | ||||||
24 | purpose of this Article, but funds of alumni
associations, | ||||||
25 | foundations, and athletic associations which are affiliated | ||||||
26 | with
the universities included as employers under this Article |
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1 | and other employers
which do not receive State appropriations | ||||||
2 | are considered to be trust funds for
the purpose of this | ||||||
3 | Article. Beginning July 1, 2014, the provisions of this | ||||||
4 | subsection (b) apply to the payment of employer contributions | ||||||
5 | required under subsection (a-10) of this Section and shall not | ||||||
6 | be construed as a separate or additional contribution.
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7 | (b-1) The City of Urbana and the City of Champaign shall | ||||||
8 | each make
employer contributions to this System for their | ||||||
9 | respective firefighter
employees who participate in this | ||||||
10 | System pursuant to subsection (h) of Section
15-107. The rate | ||||||
11 | of contributions to be made by those municipalities shall
be | ||||||
12 | determined annually by the Board on the basis of the actuarial | ||||||
13 | assumptions
adopted by the Board and the recommendations of the | ||||||
14 | actuary, and shall be
expressed as a percentage of salary for | ||||||
15 | each such employee. The Board shall
certify the rate to the | ||||||
16 | affected municipalities as soon as may be practical.
The | ||||||
17 | employer contributions required under this subsection shall be | ||||||
18 | remitted by
the municipality to the System at the same time and | ||||||
19 | in the same manner as
employee contributions.
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20 | (c) Through State fiscal year 1995: The total employer | ||||||
21 | contribution shall
be apportioned among the various funds of | ||||||
22 | the State and other employers,
whether trust, federal, or other | ||||||
23 | funds, in accordance with actuarial procedures
approved by the | ||||||
24 | Board. State of Illinois contributions for employers receiving
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25 | State appropriations for personal services shall be payable | ||||||
26 | from appropriations
made to the employers or to the System. The |
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1 | contributions for Class I
community colleges covering earnings | ||||||
2 | other than those paid from trust and
federal funds, shall be | ||||||
3 | payable solely from appropriations to the Illinois
Community | ||||||
4 | College Board or the System for employer contributions.
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5 | (d) Beginning in State fiscal year 1996, the required State | ||||||
6 | contributions
to the System shall be appropriated directly to | ||||||
7 | the System and shall be payable
through vouchers issued in | ||||||
8 | accordance with subsection (c) of Section 15-165, except as | ||||||
9 | provided in subsection (g).
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10 | (e) The State Comptroller shall draw warrants payable to | ||||||
11 | the System upon
proper certification by the System or by the | ||||||
12 | employer in accordance with the
appropriation laws and this | ||||||
13 | Code.
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14 | (f) Normal costs under this Section means liability for
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15 | pensions and other benefits which accrues to the System because | ||||||
16 | of the
credits earned for service rendered by the participants | ||||||
17 | during the
fiscal year and expenses of administering the | ||||||
18 | System, but shall not
include the principal of or any | ||||||
19 | redemption premium or interest on any bonds
issued by the Board | ||||||
20 | or any expenses incurred or deposits required in
connection | ||||||
21 | therewith.
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22 | (g) If the amount of a participant's earnings for any | ||||||
23 | academic year used to determine the final rate of earnings, | ||||||
24 | determined on a full-time equivalent basis, exceeds the amount | ||||||
25 | of his or her earnings with the same employer for the previous | ||||||
26 | academic year, determined on a full-time equivalent basis, by |
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| |||||||
1 | more than 6%, the participant's employer shall pay to the | ||||||
2 | System, in addition to all other payments required under this | ||||||
3 | Section and in accordance with guidelines established by the | ||||||
4 | System, the present value of the increase in benefits resulting | ||||||
5 | from the portion of the increase in earnings that is in excess | ||||||
6 | of 6%. This present value shall be computed by the System on | ||||||
7 | the basis of the actuarial assumptions and tables used in the | ||||||
8 | most recent actuarial valuation of the System that is available | ||||||
9 | at the time of the computation. The System may require the | ||||||
10 | employer to provide any pertinent information or | ||||||
11 | documentation. | ||||||
12 | Whenever it determines that a payment is or may be required | ||||||
13 | under this subsection (g), the System shall calculate the | ||||||
14 | amount of the payment and bill the employer for that amount. | ||||||
15 | The bill shall specify the calculations used to determine the | ||||||
16 | amount due. If the employer disputes the amount of the bill, it | ||||||
17 | may, within 30 days after receipt of the bill, apply to the | ||||||
18 | System in writing for a recalculation. The application must | ||||||
19 | specify in detail the grounds of the dispute and, if the | ||||||
20 | employer asserts that the calculation is subject to subsection | ||||||
21 | (h) or (i) of this Section, must include an affidavit setting | ||||||
22 | forth and attesting to all facts within the employer's | ||||||
23 | knowledge that are pertinent to the applicability of subsection | ||||||
24 | (h) or (i). Upon receiving a timely application for | ||||||
25 | recalculation, the System shall review the application and, if | ||||||
26 | appropriate, recalculate the amount due.
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1 | The employer contributions required under this subsection | ||||||
2 | (g) may be paid in the form of a lump sum within 90 days after | ||||||
3 | receipt of the bill. If the employer contributions are not paid | ||||||
4 | within 90 days after receipt of the bill, then interest will be | ||||||
5 | charged at a rate equal to the System's annual actuarially | ||||||
6 | assumed rate of return on investment compounded annually from | ||||||
7 | the 91st day after receipt of the bill. Payments must be | ||||||
8 | concluded within 3 years after the employer's receipt of the | ||||||
9 | bill. | ||||||
10 | (h) This subsection (h) applies only to (1) payments made | ||||||
11 | or salary increases given on or after June 1, 2005 but before | ||||||
12 | July 1, 2011 and (2) payments made or salary increases given | ||||||
13 | after the limitation on employer contributions under | ||||||
14 | subsection (a-15) of Section 15-155 ceases to apply to | ||||||
15 | contributions under item (i) of subsection (a-10) of that | ||||||
16 | Section. The changes made by Public Act 94-1057 shall not | ||||||
17 | require the System to refund any payments received before July | ||||||
18 | 31, 2006 (the effective date of Public Act 94-1057). | ||||||
19 | When assessing payment for any amount due under subsection | ||||||
20 | (g), the System shall exclude earnings increases paid to | ||||||
21 | participants under contracts or collective bargaining | ||||||
22 | agreements entered into, amended, or renewed before June 1, | ||||||
23 | 2005.
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24 | When assessing payment for any amount due under subsection | ||||||
25 | (g), the System shall exclude earnings increases paid to a | ||||||
26 | participant at a time when the participant is 10 or more years |
| |||||||
| |||||||
1 | from retirement eligibility under Section 15-135.
| ||||||
2 | When assessing payment for any amount due under subsection | ||||||
3 | (g), the System shall exclude earnings increases resulting from | ||||||
4 | overload work, including a contract for summer teaching, or | ||||||
5 | overtime when the employer has certified to the System, and the | ||||||
6 | System has approved the certification, that: (i) in the case of | ||||||
7 | overloads (A) the overload work is for the sole purpose of | ||||||
8 | academic instruction in excess of the standard number of | ||||||
9 | instruction hours for a full-time employee occurring during the | ||||||
10 | academic year that the overload is paid and (B) the earnings | ||||||
11 | increases are equal to or less than the rate of pay for | ||||||
12 | academic instruction computed using the participant's current | ||||||
13 | salary rate and work schedule; and (ii) in the case of | ||||||
14 | overtime, the overtime was necessary for the educational | ||||||
15 | mission. | ||||||
16 | When assessing payment for any amount due under subsection | ||||||
17 | (g), the System shall exclude any earnings increase resulting | ||||||
18 | from (i) a promotion for which the employee moves from one | ||||||
19 | classification to a higher classification under the State | ||||||
20 | Universities Civil Service System, (ii) a promotion in academic | ||||||
21 | rank for a tenured or tenure-track faculty position, or (iii) a | ||||||
22 | promotion that the Illinois Community College Board has | ||||||
23 | recommended in accordance with subsection (k) of this Section. | ||||||
24 | These earnings increases shall be excluded only if the | ||||||
25 | promotion is to a position that has existed and been filled by | ||||||
26 | a member for no less than one complete academic year and the |
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1 | earnings increase as a result of the promotion is an increase | ||||||
2 | that results in an amount no greater than the average salary | ||||||
3 | paid for other similar positions. | ||||||
4 | (i) When assessing payment for any amount due under | ||||||
5 | subsection (g), the System shall exclude any salary increase | ||||||
6 | described in subsection (h) of this Section given on or after | ||||||
7 | July 1, 2011 but before July 1, 2014 under a contract or | ||||||
8 | collective bargaining agreement entered into, amended, or | ||||||
9 | renewed on or after June 1, 2005 but before July 1, 2011.
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10 | (j) The System shall prepare a report and file copies of | ||||||
11 | the report with the Governor and the General Assembly by | ||||||
12 | January 1, 2007 that contains all of the following information: | ||||||
13 | (1) The number of recalculations required by the | ||||||
14 | changes made to this Section by Public Act 94-1057 for each | ||||||
15 | employer. | ||||||
16 | (2) The dollar amount by which each employer's | ||||||
17 | contribution to the System was changed due to | ||||||
18 | recalculations required by Public Act 94-1057. | ||||||
19 | (3) The total amount the System received from each | ||||||
20 | employer as a result of the changes made to this Section by | ||||||
21 | Public Act 94-4. | ||||||
22 | (4) The increase in the required State contribution | ||||||
23 | resulting from the changes made to this Section by Public | ||||||
24 | Act 94-1057. | ||||||
25 | (k) The Illinois Community College Board shall adopt rules | ||||||
26 | for recommending lists of promotional positions submitted to |
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1 | the Board by community colleges and for reviewing the | ||||||
2 | promotional lists on an annual basis. When recommending | ||||||
3 | promotional lists, the Board shall consider the similarity of | ||||||
4 | the positions submitted to those positions recognized for State | ||||||
5 | universities by the State Universities Civil Service System. | ||||||
6 | The Illinois Community College Board shall file a copy of its | ||||||
7 | findings with the System. The System shall consider the | ||||||
8 | findings of the Illinois Community College Board when making | ||||||
9 | determinations under this Section. The System shall not exclude | ||||||
10 | any earnings increases resulting from a promotion when the | ||||||
11 | promotion was not submitted by a community college. Nothing in | ||||||
12 | this subsection (k) shall require any community college to | ||||||
13 | submit any information to the Community College Board.
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14 | (l) For purposes of determining the required State | ||||||
15 | contribution to the System, the value of the System's assets | ||||||
16 | shall be equal to the actuarial value of the System's assets, | ||||||
17 | which shall be calculated as follows: | ||||||
18 | As of June 30, 2008, the actuarial value of the System's | ||||||
19 | assets shall be equal to the market value of the assets as of | ||||||
20 | that date. In determining the actuarial value of the System's | ||||||
21 | assets for fiscal years after June 30, 2008, any actuarial | ||||||
22 | gains or losses from investment return incurred in a fiscal | ||||||
23 | year shall be recognized in equal annual amounts over the | ||||||
24 | 5-year period following that fiscal year. | ||||||
25 | (m) For purposes of determining the required State | ||||||
26 | contribution to the system for a particular year, the actuarial |
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1 | value of assets shall be assumed to earn a rate of return equal | ||||||
2 | to the system's actuarially assumed rate of return. | ||||||
3 | (Source: P.A. 96-43, eff. 7-15-09; 96-1497, eff. 1-14-11; | ||||||
4 | 96-1511, eff. 1-27-11; 96-1554, eff. 3-18-11; 97-813, eff. | ||||||
5 | 7-13-12; 09800SB1687ham002.)
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6 | Section 99. Effective date. This Act takes effect upon | ||||||
7 | becoming law, but no earlier than the effective date of Senate | ||||||
8 | Bill 1687 of the 98th General Assembly.".
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