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SB1958 Engrossed |
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LRB095 16320 AMC 42344 b |
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| AN ACT concerning public employee benefits.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Illinois Pension Code is amended by changing |
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| Section 7-168 as follows:
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| (40 ILCS 5/7-168) (from Ch. 108 1/2, par. 7-168)
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| Sec. 7-168. Separation benefits - Amount. The amount of the |
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| separation benefits shall be the sum of the employee's
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| accumulated normal, survivor and additional contributions, |
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| plus interest at 50% of the prescribed rate of interest per |
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| annum from the date of enrollment to the date of termination of |
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| participation.
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| (Source: P.A. 87-740.)
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| Section 90. The State Mandates Act is amended by adding |
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| Section 8.32 as follows:
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| (30 ILCS 805/8.32 new) |
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| Sec. 8.32. Exempt mandate. Notwithstanding Sections 6 and 8 |
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| of this Act, no reimbursement by the State is required for the |
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| implementation of any mandate created by this amendatory Act of |
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| the 95th General Assembly.
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