(40 ILCS 5/18‑101)(from Ch. 108 1/2, par. 18‑101) Sec. 18‑101. Creation of fund. A retirement system is created to be known as the "Judges Retirement System of Illinois". It shall be a trust separate and distinct from all other entities, maintained for the purpose of securing the payment of annuities and benefits as prescribed herein. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑102)(from Ch. 108 1/2, par. 18‑102) Sec. 18‑102. Purpose. The purpose of the system is to establish an efficient method of permitting retirement, without hardship or prejudice, of judges who are aged or otherwise incapacitated, by enabling them to accumulate reserves for themselves and their dependents for old age, disability, death, and termination of employment. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑103)(from Ch. 108 1/2, par. 18‑103) Sec. 18‑103. Terms defined. The terms used in this Article shall have the meanings ascribed to them in Sections 18‑104 through 18‑118, except when the context otherwise requires. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑104)(from Ch. 108 1/2, par. 18‑104) Sec. 18‑104. Effective date. "Effective date": July 1, 1941. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑105)(from Ch. 108 1/2, par. 18‑105) Sec. 18‑105. System. "System": The Judges Retirement System of Illinois. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑106)(from Ch. 108 1/2, par. 18‑106) Sec. 18‑106. Board. "Board": The Board of Trustees of the Judges Retirement System of Illinois. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑107)(from Ch. 108 1/2, par. 18‑107) Sec. 18‑107. Employer. "Employer": The State, and any county as authorized by law, certifying payments of salary for, or paying salary to, any judge of the Supreme Court, Appellate Court and Circuit Court. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑108)(from Ch. 108 1/2, par. 18‑108) Sec. 18‑108. Judge. "Judge": Any person who receives payment for personal services as a judge or associate judge of a court; and any person, previously a participant, who receives payment for personal services as the administrative director appointed by the Supreme Court. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑109)(from Ch. 108 1/2, par. 18‑109) Sec. 18‑109. Eligible judge. "Eligible judge": Any judge except one who has elected not to participate in this system. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑110)(from Ch. 108 1/2, par. 18‑110) Sec. 18‑110. Participant. "Participant": Any judge participating in this system as specified in Sections 18‑120 and 18‑121. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑111)(from Ch. 108 1/2, par. 18‑111) Sec. 18‑111. Salary. "Salary": The total compensation paid for personal services as a judge, by the State, or by the State and a county as authorized by law. However, in the event that federal law results in any judge receiving imputed income based on the value of group term life insurance provided by the State, such imputed income shall not be included in salary for the purposes of this Article. (Source: P.A. 86‑273.)
(40 ILCS 5/18‑112)(from Ch. 108 1/2, par. 18‑112) Sec. 18‑112. Service. "Service": The period beginning on the day a person first became a judge, whether prior or subsequent to the effective date, and ending on the date under consideration, excluding all intervening periods during which he or she was not a judge following resignation or expiration of any term of election or appointment. Service also includes the following: (a) Any period prior to January 1, 1964 during which a judge served as a justice of the peace, police magistrate or master in chancery, or as a civil referee, commissioner or trial assistant to the chief judge in the Municipal Court of Chicago, or performed judicial duties as an assistant to the judge of the Probate Court of Cook County. A judge shall be entitled to credit for all or as much as the judge may desire of such service, not exceeding 8 years, upon payment of the participant's contribution covering such service at the contribution rates in effect on July 1, 1969, together with interest at 4% per annum compounded annually, from the dates the service was rendered to the date of payment, provided credit for such service had not been granted in any public pension fund or retirement system in the State. The required contributions shall be based upon the rate of salary in effect for the judge on the date he or she entered the system or on January 1, 1964, whichever is later. (b) Service rendered after January 1, 1964, as a holdover magistrate or master in chancery of the Circuit Court. A judge shall be entitled to credit for any period of such service, not exceeding a total of 8 years, together with the period of service taken into account in paragraph (a). Service credit under this paragraph is subject to the same contribution requirements and other limitations that are prescribed for service credit under paragraph (a). (c) Any period that a participant served as a member of the General Assembly, subject to the following conditions: (1) He or she has been a participant in this system for at least 4 years and has contributed to the system for service rendered as a member of the General Assembly subsequent to November 1, 1941, at the contribution rates in effect for a judge on the date of becoming a participant, including interest at 3% per annum compounded annually from the date such service was rendered to the date of payment, based on the salary in effect during such period of service; and (2) The participant is not entitled to credit for such service in any other public retirement system in the State. (d) Any period a participant served as a judge or commissioner of the Court of Claims of this State after November 1, 1941, provided he or she contributes to the system at the contribution rates in effect on the date of becoming a participant, based on salary received during such service, including interest at 3% per annum compounded annually from the date such service was rendered to the date of payment. (e) Any period that a participant served as State's Attorney or Public Defender of any county of this State, subject to the following conditions: (1) such service was not credited under any public pension fund or retirement system; (2) the maximum service to be credited in this system shall be 8 years; (3) the participant must have at least 6 years of service as a judge and as a participant of this system; and (4) the participant has made contributions to the system for such service at the contribution rates in effect on the date of becoming a participant in this system based upon the salary of the judge on such date, including interest at 4% per annum compounded annually from such date to the date of payment. A judge who terminated service before January 26, 1988 and whose retirement annuity began after January 1, 1988 may establish credit for service as a Public Defender in accordance with the other provisions of this subsection by making application and paying the required contributions to the Board not later than 30 days after August 23, 1989. In such cases, the Board shall recalculate the retirement annuity, effective on the first day of the next calendar month beginning at least 30 days after the application is received. (f) Any period as a participating policeman, employee or teacher under Article 5, 14 or 16 of this Code, subject to the following conditions: (1) the credits accrued under Article 5, 14 or 16 have been transferred to this system; and (2) the participant has contributed to the system an amount equal to (A) contributions at the rate in effect for participants at the date of membership in this system based upon the salary of the judge on such date, (B) the employer's share of the normal cost under this system for each year that credit is being established, based on the salary in effect at the date of membership in this system, and (C) interest at 6% per annum, compounded annually, from the date of membership to the date of payment; less (D) the amount transferred on behalf of the participant from Article 5, 14 or 16. (g) Any period that a participant served as the Administrative Director of the Circuit Court of Cook County, as Executive Director of the Home Rule Commission, as assistant corporation counsel in the Chicago Law Department, or as an employee of the Cook County Treasurer, subject to the following conditions: (1) the maximum amount of such service which may be credited is 10 years; (2) in order to qualify for such credit in this system, a judge must have at least 6 years of service as a judge and participant of this system; (3) the last 6 years of service credited in this system shall be as a judge and a participant in this system; (4) credits accrued to the participant under any other public pension fund or public retirement system in the State, if any, by reason of the service to be established under this paragraph (g) has been transferred to this system; and (5) the participant has contributed to this system the amount, if any, by which the amount transferred pursuant to subdivision (4) of this paragraph, if any, is less than the amount which the participant would have contributed to the system during the period of time being counted as service under this paragraph had the participant been a judge participating in this system during that time, based on the rate of contribution in effect and the salary earned by the participant on the date he or she became a participant, with interest accruing on such deficiency at a rate of 5% per annum from the date he or she became a participant through the date on which such deficiency is paid. (h) Any period that a participant served as a full‑time attorney employed by the Chicago Transit Authority created by the Metropolitan Transit Authority Act, subject to the following conditions: (1) any credit received for such service in the pension fund established under Section 22‑101 has been terminated; (2) the maximum amount of such service to be credited in this system shall be 10 years; (3) the participant must have at least 6 years of service as a judge and as a participant of this system; and (4) the participant has made contributions to the system for such service at the contribution rates in effect on the date of becoming a participant in this system based upon the salary of the judge on such date, including interest at 5% per annum compounded annually from such date to the date of payment. (i) Any period during which a participant received temporary total disability benefit payments, as provided in Section 18‑126.1. Service during a fraction of a month shall be considered a month of service, but no more than one month of service shall be credited for all service during any calendar month. (Source: P.A. 86‑272; 86‑273; 86‑1028; 87‑1265.)
(40 ILCS 5/18‑112.1)(from Ch. 108 1/2, par. 18‑112.1) Sec. 18‑112.1. (a) An active member of the General Assembly Retirement System may apply for transfer of his or her credits and creditable service under this system to the General Assembly Retirement System. Payment by this system to the General Assembly Retirement System shall be made at the same time as the transfer of credits and shall consist of: (1) the amounts credited to the applicant, through employee contributions, including interest if applicable, on the date of transfer; and (2) employer contributions equal to the accumulated employee contributions as determined under clause (1) above. Participation in this system shall terminate on the date of transfer. (b) An active member of the General Assembly may reinstate service credits terminated upon receipt of a refund by repaying to the system the amount of the refund together with interest thereon, to the date of payment. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑112.2)(from Ch. 108 1/2, par. 18‑112.2) Sec. 18‑112.2. Transfer of creditable service to Article 8, 9 or 13 Fund. (a) Any city officer as defined in Section 8‑243.2 of this Code, any county officer elected by vote of the people who is a participant in the pension fund established under Article 9 of this Code, and any elected sanitary district commissioner who is a participant in a pension fund established under Article 13 of this Code, may apply for transfer of his or her credits and creditable service accumulated under this System to such Article 8, 9 or 13 fund. Such creditable service shall be transferred forthwith. Payment by this System to the Article 8, 9 or 13 fund shall be made at the same time, and shall consist of: (1) the amounts credited to the applicant through
employee contributions, including interest if applicable, on the date of transfer; and
(2) employer contributions equal to the accumulated
employee contributions as determined under clause (1) above.
Participation in this System shall terminate on the date of transfer. (b) Any such elected city officer, county officer or sanitary district commissioner may reinstate credits and creditable service terminated upon receipt of a refund, by repaying to the System the amount of the refund together with interest thereon to the date of payment. (Source: P.A. 91‑357, eff. 7‑29‑99.)
(40 ILCS 5/18‑112.3)(from Ch. 108 1/2, par. 18‑112.3) Sec. 18‑112.3. (a) Persons otherwise required or eligible to participate in this System who elect to continue participation in the General Assembly System under Section 2‑117.1 may not participate in this System for the duration of such continued participation under Section 2‑117.1. (b) Upon terminating such continued participation, a person may transfer credits and creditable service accumulated under Section 2‑117.1 to this System, upon payment to this System of the amount by which (1) the employer and employee contributions that would have been required if he had participated in this System during the period for which credit under Section 2‑117.1 is being transferred, plus regular interest thereon at the prescribed rate from the date of such participation to the date of payment, exceeds (2) the amounts actually transferred under that Section to this System. (Source: P.A. 86‑272.)
(40 ILCS 5/18‑112.4)(from Ch. 108 1/2, par. 18‑112.4) Sec. 18‑112.4. Service credit for elected or appointed village official. An active participant in this System who has at least 6 years of service as a judge and as a participant of this System on August 23, 1989, and who has no creditable service as a participating employee under Article 7 of this Code, may establish service credit in this System: (i) for periods during which the participant held elective office as a member of the board of trustees of a village, and (ii) for any consecutive period not exceeding 5 years during which the participant held appointive office as a member of the zoning board of appeals of the same village in which the participant later held elective office as village trustee, provided such period of appointive office terminated within 12 months prior to the date such period of elective office commenced. Service credit in this System may be established pursuant to this Section only if the participant did not contribute to the retirement and benefit fund established under Article 7 of this Code for the service sought to be established by the participant in this System, and only if the participant has no equity or rights in that fund because of such service. Credit for such service may be established in this System by the participant paying to this System an amount equal to (1) contributions at the rate in effect for a judge on the date of becoming a participant in this System multiplied by the salary of the judge on such date for each year of service for which credit is being established, plus (2) the employer's share of the normal cost of benefits under this System, expressed as a percent of payroll, as determined by the System's actuary as of the date of the participant's membership in the System, multiplied by the salary of the judge on such date for each year of service for which credit is being established, plus (3) interest on (1) and (2) above at 6% per annum compounded annually from the date of membership to the date of payment by the participant. (Source: P.A. 86‑273; 86‑1028.)
(40 ILCS 5/18‑112.5)(from Ch. 108 1/2, par. 18‑112.5) Sec. 18‑112.5. Payments and Rollovers. (a) The Board may adopt rules prescribing the manner of repaying refunds and purchasing any optional credits permitted under this Article. The rules may prescribe the manner of calculating interest when such payments or repayments are made in installments. (b) Rollover contributions from other retirement plans qualified under the U.S. Internal Revenue Code may be used to purchase any optional credit or repay any refund permitted under this Article. (Source: P.A. 86‑1488.)
(40 ILCS 5/18‑112.6) Sec. 18‑112.6. Service credit for member of educational board. Until July 1, 1998, an active participant in this System who has at least 6 years of service as a judge may establish up to 2 years of service credit in this System for a period during which the participant held elective office as a member of a board of education in this State or a member of the board of trustees of a community college district in this State, by applying to the Board in writing and paying to the System an amount equal to (1) employee contributions based on the rate in effect for a judge on the date of becoming a participant in this System and the salary received by the judge on that date, plus (2) the employer's share of the normal cost of the benefits being established, plus (3) interest thereon at the prescribed rate, compounded annually, from the date of membership to the date of payment. However, credit may not be established under this Section for any period for which the judge has received credit under any other pension fund or retirement system subject to this Code, unless that credit has been terminated. (Source: P.A. 90‑448, eff. 8‑16‑97.)
(40 ILCS 5/18‑113)(from Ch. 108 1/2, par. 18‑113) Sec. 18‑113. Annuity. "Annuity": A series of monthly payments payable at the end of each calendar month during the life of an annuitant or as otherwise provided in this Article. The first payment shall be prorated for any fraction of a month elapsing to the end of the first month and the last payment shall be made for the whole calendar month in which death occurs. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑114)(from Ch. 108 1/2, par. 18‑114) Sec. 18‑114. Annuitant. "Annuitant": A person receiving a retirement annuity or survivor's annuity. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑115)(from Ch. 108 1/2, par. 18‑115) Sec. 18‑115. Beneficiary. "Beneficiary": A surviving spouse or children eligible for an annuity; or, if no eligible surviving spouse or children survives, the person or persons designated by the participant or annuitant in the last written designation on file with the Board; or, if no person so designated survives, or if no designation is on file, the estate of the participant or annuitant. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑116)(from Ch. 108 1/2, par. 18‑116) Sec. 18‑116. Actuarial tables. "Actuarial tables": Such tabular listings of assumed rates of death, disability, retirement and withdrawal from service and mathematical functions derived from such rates combined with an assumed rate of interest, based upon the experience of the system, as adopted by the board upon recommendation by the actuary. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑117)(from Ch. 108 1/2, par. 18‑117) Sec. 18‑117. Prescribed rate of interest. "Prescribed rate of interest": 4% per annum compounded annually, or such other rate prescribed by the board based on expected long term investment returns and the experience of the system. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑118)(from Ch. 108 1/2, par. 18‑118) Sec. 18‑118. Fiscal year. "Fiscal year": The period beginning on July 1 and ending on June 30 of the succeeding year. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑119)(from Ch. 108 1/2, par. 18‑119) Sec. 18‑119. Employer participation. Each employer is subject to the provisions of this system beginning on the effective date or the date of subsequent qualification as an employer. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑120)(from Ch. 108 1/2, par. 18‑120) Sec. 18‑120. Employee participation. An eligible judge who is not a participant shall become a participant beginning on the date he or she becomes an eligible judge, unless the judge files with the board a written notice of election not to participate within 30 days of the date of being notified of the option. A person electing not to participate shall thereafter be ineligible to become a participant unless the election is revoked as provided in Section 18‑121. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑120.1)(from Ch. 108 1/2, par. 18‑120.1) Sec. 18‑120.1. Gender. The masculine gender whenever used in this Article includes the feminine gender unless manifestly inconsistent with the context. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑121)(from Ch. 108 1/2, par. 18‑121) Sec. 18‑121. Recision of election not to participate. A judge who filed a notice of election not to participate shall become a participant upon filing with the board before July 1, 1992, a written recision of such notice. The recision shall state that such person is then a judge, his or her present age, and previous records of service as a judge. After 3 years of service as a participant, the judge may obtain credit for all service as a judge prior to the date of participation by paying into the system the contributions that he or she would have made as a participant at the rates in effect during such service, together with interest at the rate of 4% per annum compounded annually from the date the contributions would have been due to the date of payment. Upon compliance, he or she shall receive credit for all service rendered as a judge prior to the date of becoming a participant. The time and manner of making such additional contributions, including interest, shall be prescribed by the board. Except as otherwise provided, a judge becoming a participant by a recision of an election not to participate, shall be governed by the provisions of this Article in effect on the date of the recision. (Source: P.A. 87‑794.)
(40 ILCS 5/18‑122)(from Ch. 108 1/2, par. 18‑122) Sec. 18‑122. Participation; military service. Participation shall continue until the date a participant becomes an annuitant, dies, or accepts a refund. Participation shall not cease during any period an eligible judge is serving with the military or naval forces of the United States while the United States is engaged in any war or for one year after such war, if the judge makes contributions, together with any interest payments which might be required, for delayed contribution payments. A participant may also apply for creditable service for up to 2 years of military service that need not have followed service as a judge and need not have been served during wartime. However, for this military service not immediately following employment as a judge, the applicant must make contributions to the System (1) at the rates provided in Section 18‑133 based upon the judge's rate of compensation on the last date as a participating judge prior to such military service, or on the first date as a participating judge after such military service, whichever is greater, plus (2) if payment is made on or after May 1, 1993, an amount determined by the Board to be equal to the employer's normal cost of the benefits accrued for such military service, plus (3) interest at the effective rate from the date of first membership in the System to the date of payment. The amendment to this Section made by this amendatory Act of 1993 shall apply to persons who are active contributors to the System on or after November 30, 1992. A person who was an active contributor to the System on November 30, 1992 but is no longer an active contributor may apply to purch
(40 ILCS 5/18‑101)(from Ch. 108 1/2, par. 18‑101) Sec. 18‑101. Creation of fund. A retirement system is created to be known as the "Judges Retirement System of Illinois". It shall be a trust separate and distinct from all other entities, maintained for the purpose of securing the payment of annuities and benefits as prescribed herein. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑102)(from Ch. 108 1/2, par. 18‑102) Sec. 18‑102. Purpose. The purpose of the system is to establish an efficient method of permitting retirement, without hardship or prejudice, of judges who are aged or otherwise incapacitated, by enabling them to accumulate reserves for themselves and their dependents for old age, disability, death, and termination of employment. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑103)(from Ch. 108 1/2, par. 18‑103) Sec. 18‑103. Terms defined. The terms used in this Article shall have the meanings ascribed to them in Sections 18‑104 through 18‑118, except when the context otherwise requires. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑104)(from Ch. 108 1/2, par. 18‑104) Sec. 18‑104. Effective date. "Effective date": July 1, 1941. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑105)(from Ch. 108 1/2, par. 18‑105) Sec. 18‑105. System. "System": The Judges Retirement System of Illinois. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑106)(from Ch. 108 1/2, par. 18‑106) Sec. 18‑106. Board. "Board": The Board of Trustees of the Judges Retirement System of Illinois. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑107)(from Ch. 108 1/2, par. 18‑107) Sec. 18‑107. Employer. "Employer": The State, and any county as authorized by law, certifying payments of salary for, or paying salary to, any judge of the Supreme Court, Appellate Court and Circuit Court. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑108)(from Ch. 108 1/2, par. 18‑108) Sec. 18‑108. Judge. "Judge": Any person who receives payment for personal services as a judge or associate judge of a court; and any person, previously a participant, who receives payment for personal services as the administrative director appointed by the Supreme Court. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑109)(from Ch. 108 1/2, par. 18‑109) Sec. 18‑109. Eligible judge. "Eligible judge": Any judge except one who has elected not to participate in this system. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑110)(from Ch. 108 1/2, par. 18‑110) Sec. 18‑110. Participant. "Participant": Any judge participating in this system as specified in Sections 18‑120 and 18‑121. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑111)(from Ch. 108 1/2, par. 18‑111) Sec. 18‑111. Salary. "Salary": The total compensation paid for personal services as a judge, by the State, or by the State and a county as authorized by law. However, in the event that federal law results in any judge receiving imputed income based on the value of group term life insurance provided by the State, such imputed income shall not be included in salary for the purposes of this Article. (Source: P.A. 86‑273.)
(40 ILCS 5/18‑112)(from Ch. 108 1/2, par. 18‑112) Sec. 18‑112. Service. "Service": The period beginning on the day a person first became a judge, whether prior or subsequent to the effective date, and ending on the date under consideration, excluding all intervening periods during which he or she was not a judge following resignation or expiration of any term of election or appointment. Service also includes the following: (a) Any period prior to January 1, 1964 during which a judge served as a justice of the peace, police magistrate or master in chancery, or as a civil referee, commissioner or trial assistant to the chief judge in the Municipal Court of Chicago, or performed judicial duties as an assistant to the judge of the Probate Court of Cook County. A judge shall be entitled to credit for all or as much as the judge may desire of such service, not exceeding 8 years, upon payment of the participant's contribution covering such service at the contribution rates in effect on July 1, 1969, together with interest at 4% per annum compounded annually, from the dates the service was rendered to the date of payment, provided credit for such service had not been granted in any public pension fund or retirement system in the State. The required contributions shall be based upon the rate of salary in effect for the judge on the date he or she entered the system or on January 1, 1964, whichever is later. (b) Service rendered after January 1, 1964, as a holdover magistrate or master in chancery of the Circuit Court. A judge shall be entitled to credit for any period of such service, not exceeding a total of 8 years, together with the period of service taken into account in paragraph (a). Service credit under this paragraph is subject to the same contribution requirements and other limitations that are prescribed for service credit under paragraph (a). (c) Any period that a participant served as a member of the General Assembly, subject to the following conditions: (1) He or she has been a participant in this system for at least 4 years and has contributed to the system for service rendered as a member of the General Assembly subsequent to November 1, 1941, at the contribution rates in effect for a judge on the date of becoming a participant, including interest at 3% per annum compounded annually from the date such service was rendered to the date of payment, based on the salary in effect during such period of service; and (2) The participant is not entitled to credit for such service in any other public retirement system in the State. (d) Any period a participant served as a judge or commissioner of the Court of Claims of this State after November 1, 1941, provided he or she contributes to the system at the contribution rates in effect on the date of becoming a participant, based on salary received during such service, including interest at 3% per annum compounded annually from the date such service was rendered to the date of payment. (e) Any period that a participant served as State's Attorney or Public Defender of any county of this State, subject to the following conditions: (1) such service was not credited under any public pension fund or retirement system; (2) the maximum service to be credited in this system shall be 8 years; (3) the participant must have at least 6 years of service as a judge and as a participant of this system; and (4) the participant has made contributions to the system for such service at the contribution rates in effect on the date of becoming a participant in this system based upon the salary of the judge on such date, including interest at 4% per annum compounded annually from such date to the date of payment. A judge who terminated service before January 26, 1988 and whose retirement annuity began after January 1, 1988 may establish credit for service as a Public Defender in accordance with the other provisions of this subsection by making application and paying the required contributions to the Board not later than 30 days after August 23, 1989. In such cases, the Board shall recalculate the retirement annuity, effective on the first day of the next calendar month beginning at least 30 days after the application is received. (f) Any period as a participating policeman, employee or teacher under Article 5, 14 or 16 of this Code, subject to the following conditions: (1) the credits accrued under Article 5, 14 or 16 have been transferred to this system; and (2) the participant has contributed to the system an amount equal to (A) contributions at the rate in effect for participants at the date of membership in this system based upon the salary of the judge on such date, (B) the employer's share of the normal cost under this system for each year that credit is being established, based on the salary in effect at the date of membership in this system, and (C) interest at 6% per annum, compounded annually, from the date of membership to the date of payment; less (D) the amount transferred on behalf of the participant from Article 5, 14 or 16. (g) Any period that a participant served as the Administrative Director of the Circuit Court of Cook County, as Executive Director of the Home Rule Commission, as assistant corporation counsel in the Chicago Law Department, or as an employee of the Cook County Treasurer, subject to the following conditions: (1) the maximum amount of such service which may be credited is 10 years; (2) in order to qualify for such credit in this system, a judge must have at least 6 years of service as a judge and participant of this system; (3) the last 6 years of service credited in this system shall be as a judge and a participant in this system; (4) credits accrued to the participant under any other public pension fund or public retirement system in the State, if any, by reason of the service to be established under this paragraph (g) has been transferred to this system; and (5) the participant has contributed to this system the amount, if any, by which the amount transferred pursuant to subdivision (4) of this paragraph, if any, is less than the amount which the participant would have contributed to the system during the period of time being counted as service under this paragraph had the participant been a judge participating in this system during that time, based on the rate of contribution in effect and the salary earned by the participant on the date he or she became a participant, with interest accruing on such deficiency at a rate of 5% per annum from the date he or she became a participant through the date on which such deficiency is paid. (h) Any period that a participant served as a full‑time attorney employed by the Chicago Transit Authority created by the Metropolitan Transit Authority Act, subject to the following conditions: (1) any credit received for such service in the pension fund established under Section 22‑101 has been terminated; (2) the maximum amount of such service to be credited in this system shall be 10 years; (3) the participant must have at least 6 years of service as a judge and as a participant of this system; and (4) the participant has made contributions to the system for such service at the contribution rates in effect on the date of becoming a participant in this system based upon the salary of the judge on such date, including interest at 5% per annum compounded annually from such date to the date of payment. (i) Any period during which a participant received temporary total disability benefit payments, as provided in Section 18‑126.1. Service during a fraction of a month shall be considered a month of service, but no more than one month of service shall be credited for all service during any calendar month. (Source: P.A. 86‑272; 86‑273; 86‑1028; 87‑1265.)
(40 ILCS 5/18‑112.1)(from Ch. 108 1/2, par. 18‑112.1) Sec. 18‑112.1. (a) An active member of the General Assembly Retirement System may apply for transfer of his or her credits and creditable service under this system to the General Assembly Retirement System. Payment by this system to the General Assembly Retirement System shall be made at the same time as the transfer of credits and shall consist of: (1) the amounts credited to the applicant, through employee contributions, including interest if applicable, on the date of transfer; and (2) employer contributions equal to the accumulated employee contributions as determined under clause (1) above. Participation in this system shall terminate on the date of transfer. (b) An active member of the General Assembly may reinstate service credits terminated upon receipt of a refund by repaying to the system the amount of the refund together with interest thereon, to the date of payment. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑112.2)(from Ch. 108 1/2, par. 18‑112.2) Sec. 18‑112.2. Transfer of creditable service to Article 8, 9 or 13 Fund. (a) Any city officer as defined in Section 8‑243.2 of this Code, any county officer elected by vote of the people who is a participant in the pension fund established under Article 9 of this Code, and any elected sanitary district commissioner who is a participant in a pension fund established under Article 13 of this Code, may apply for transfer of his or her credits and creditable service accumulated under this System to such Article 8, 9 or 13 fund. Such creditable service shall be transferred forthwith. Payment by this System to the Article 8, 9 or 13 fund shall be made at the same time, and shall consist of: (1) the amounts credited to the applicant through
employee contributions, including interest if applicable, on the date of transfer; and
(2) employer contributions equal to the accumulated
employee contributions as determined under clause (1) above.
Participation in this System shall terminate on the date of transfer. (b) Any such elected city officer, county officer or sanitary district commissioner may reinstate credits and creditable service terminated upon receipt of a refund, by repaying to the System the amount of the refund together with interest thereon to the date of payment. (Source: P.A. 91‑357, eff. 7‑29‑99.)
(40 ILCS 5/18‑112.3)(from Ch. 108 1/2, par. 18‑112.3) Sec. 18‑112.3. (a) Persons otherwise required or eligible to participate in this System who elect to continue participation in the General Assembly System under Section 2‑117.1 may not participate in this System for the duration of such continued participation under Section 2‑117.1. (b) Upon terminating such continued participation, a person may transfer credits and creditable service accumulated under Section 2‑117.1 to this System, upon payment to this System of the amount by which (1) the employer and employee contributions that would have been required if he had participated in this System during the period for which credit under Section 2‑117.1 is being transferred, plus regular interest thereon at the prescribed rate from the date of such participation to the date of payment, exceeds (2) the amounts actually transferred under that Section to this System. (Source: P.A. 86‑272.)
(40 ILCS 5/18‑112.4)(from Ch. 108 1/2, par. 18‑112.4) Sec. 18‑112.4. Service credit for elected or appointed village official. An active participant in this System who has at least 6 years of service as a judge and as a participant of this System on August 23, 1989, and who has no creditable service as a participating employee under Article 7 of this Code, may establish service credit in this System: (i) for periods during which the participant held elective office as a member of the board of trustees of a village, and (ii) for any consecutive period not exceeding 5 years during which the participant held appointive office as a member of the zoning board of appeals of the same village in which the participant later held elective office as village trustee, provided such period of appointive office terminated within 12 months prior to the date such period of elective office commenced. Service credit in this System may be established pursuant to this Section only if the participant did not contribute to the retirement and benefit fund established under Article 7 of this Code for the service sought to be established by the participant in this System, and only if the participant has no equity or rights in that fund because of such service. Credit for such service may be established in this System by the participant paying to this System an amount equal to (1) contributions at the rate in effect for a judge on the date of becoming a participant in this System multiplied by the salary of the judge on such date for each year of service for which credit is being established, plus (2) the employer's share of the normal cost of benefits under this System, expressed as a percent of payroll, as determined by the System's actuary as of the date of the participant's membership in the System, multiplied by the salary of the judge on such date for each year of service for which credit is being established, plus (3) interest on (1) and (2) above at 6% per annum compounded annually from the date of membership to the date of payment by the participant. (Source: P.A. 86‑273; 86‑1028.)
(40 ILCS 5/18‑112.5)(from Ch. 108 1/2, par. 18‑112.5) Sec. 18‑112.5. Payments and Rollovers. (a) The Board may adopt rules prescribing the manner of repaying refunds and purchasing any optional credits permitted under this Article. The rules may prescribe the manner of calculating interest when such payments or repayments are made in installments. (b) Rollover contributions from other retirement plans qualified under the U.S. Internal Revenue Code may be used to purchase any optional credit or repay any refund permitted under this Article. (Source: P.A. 86‑1488.)
(40 ILCS 5/18‑112.6) Sec. 18‑112.6. Service credit for member of educational board. Until July 1, 1998, an active participant in this System who has at least 6 years of service as a judge may establish up to 2 years of service credit in this System for a period during which the participant held elective office as a member of a board of education in this State or a member of the board of trustees of a community college district in this State, by applying to the Board in writing and paying to the System an amount equal to (1) employee contributions based on the rate in effect for a judge on the date of becoming a participant in this System and the salary received by the judge on that date, plus (2) the employer's share of the normal cost of the benefits being established, plus (3) interest thereon at the prescribed rate, compounded annually, from the date of membership to the date of payment. However, credit may not be established under this Section for any period for which the judge has received credit under any other pension fund or retirement system subject to this Code, unless that credit has been terminated. (Source: P.A. 90‑448, eff. 8‑16‑97.)
(40 ILCS 5/18‑113)(from Ch. 108 1/2, par. 18‑113) Sec. 18‑113. Annuity. "Annuity": A series of monthly payments payable at the end of each calendar month during the life of an annuitant or as otherwise provided in this Article. The first payment shall be prorated for any fraction of a month elapsing to the end of the first month and the last payment shall be made for the whole calendar month in which death occurs. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑114)(from Ch. 108 1/2, par. 18‑114) Sec. 18‑114. Annuitant. "Annuitant": A person receiving a retirement annuity or survivor's annuity. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑115)(from Ch. 108 1/2, par. 18‑115) Sec. 18‑115. Beneficiary. "Beneficiary": A surviving spouse or children eligible for an annuity; or, if no eligible surviving spouse or children survives, the person or persons designated by the participant or annuitant in the last written designation on file with the Board; or, if no person so designated survives, or if no designation is on file, the estate of the participant or annuitant. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑116)(from Ch. 108 1/2, par. 18‑116) Sec. 18‑116. Actuarial tables. "Actuarial tables": Such tabular listings of assumed rates of death, disability, retirement and withdrawal from service and mathematical functions derived from such rates combined with an assumed rate of interest, based upon the experience of the system, as adopted by the board upon recommendation by the actuary. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑117)(from Ch. 108 1/2, par. 18‑117) Sec. 18‑117. Prescribed rate of interest. "Prescribed rate of interest": 4% per annum compounded annually, or such other rate prescribed by the board based on expected long term investment returns and the experience of the system. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑118)(from Ch. 108 1/2, par. 18‑118) Sec. 18‑118. Fiscal year. "Fiscal year": The period beginning on July 1 and ending on June 30 of the succeeding year. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑119)(from Ch. 108 1/2, par. 18‑119) Sec. 18‑119. Employer participation. Each employer is subject to the provisions of this system beginning on the effective date or the date of subsequent qualification as an employer. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑120)(from Ch. 108 1/2, par. 18‑120) Sec. 18‑120. Employee participation. An eligible judge who is not a participant shall become a participant beginning on the date he or she becomes an eligible judge, unless the judge files with the board a written notice of election not to participate within 30 days of the date of being notified of the option. A person electing not to participate shall thereafter be ineligible to become a participant unless the election is revoked as provided in Section 18‑121. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑120.1)(from Ch. 108 1/2, par. 18‑120.1) Sec. 18‑120.1. Gender. The masculine gender whenever used in this Article includes the feminine gender unless manifestly inconsistent with the context. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑121)(from Ch. 108 1/2, par. 18‑121) Sec. 18‑121. Recision of election not to participate. A judge who filed a notice of election not to participate shall become a participant upon filing with the board before July 1, 1992, a written recision of such notice. The recision shall state that such person is then a judge, his or her present age, and previous records of service as a judge. After 3 years of service as a participant, the judge may obtain credit for all service as a judge prior to the date of participation by paying into the system the contributions that he or she would have made as a participant at the rates in effect during such service, together with interest at the rate of 4% per annum compounded annually from the date the contributions would have been due to the date of payment. Upon compliance, he or she shall receive credit for all service rendered as a judge prior to the date of becoming a participant. The time and manner of making such additional contributions, including interest, shall be prescribed by the board. Except as otherwise provided, a judge becoming a participant by a recision of an election not to participate, shall be governed by the provisions of this Article in effect on the date of the recision. (Source: P.A. 87‑794.)
(40 ILCS 5/18‑122)(from Ch. 108 1/2, par. 18‑122) Sec. 18‑122. Participation; military service. Participation shall continue until the date a participant becomes an annuitant, dies, or accepts a refund. Participation shall not cease during any period an eligible judge is serving with the military or naval forces of the United States while the United States is engaged in any war or for one year after such war, if the judge makes contributions, together with any interest payments which might be required, for delayed contribution payments. A participant may also apply for creditable service for up to 2 years of military service that need not have followed service as a judge and need not have been served during wartime. However, for this military service not immediately following employment as a judge, the applicant must make contributions to the System (1) at the rates provided in Section 18‑133 based upon the judge's rate of compensation on the last date as a participating judge prior to such military service, or on the first date as a participating judge after such military service, whichever is greater, plus (2) if payment is made on or after May 1, 1993, an amount determined by the Board to be equal to the employer's normal cost of the benefits accrued for such military service, plus (3) interest at the effective rate from the date of first membership in the System to the date of payment. The amendment to this Section made by this amendatory Act of 1993 shall apply to persons who are active contributors to the System on or after November 30, 1992. A person who was an active contributor to the System on November 30, 1992 but is no longer an active contributor may apply to purch
(40 ILCS 5/18‑101)(from Ch. 108 1/2, par. 18‑101) Sec. 18‑101. Creation of fund. A retirement system is created to be known as the "Judges Retirement System of Illinois". It shall be a trust separate and distinct from all other entities, maintained for the purpose of securing the payment of annuities and benefits as prescribed herein. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑102)(from Ch. 108 1/2, par. 18‑102) Sec. 18‑102. Purpose. The purpose of the system is to establish an efficient method of permitting retirement, without hardship or prejudice, of judges who are aged or otherwise incapacitated, by enabling them to accumulate reserves for themselves and their dependents for old age, disability, death, and termination of employment. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑103)(from Ch. 108 1/2, par. 18‑103) Sec. 18‑103. Terms defined. The terms used in this Article shall have the meanings ascribed to them in Sections 18‑104 through 18‑118, except when the context otherwise requires. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑104)(from Ch. 108 1/2, par. 18‑104) Sec. 18‑104. Effective date. "Effective date": July 1, 1941. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑105)(from Ch. 108 1/2, par. 18‑105) Sec. 18‑105. System. "System": The Judges Retirement System of Illinois. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑106)(from Ch. 108 1/2, par. 18‑106) Sec. 18‑106. Board. "Board": The Board of Trustees of the Judges Retirement System of Illinois. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑107)(from Ch. 108 1/2, par. 18‑107) Sec. 18‑107. Employer. "Employer": The State, and any county as authorized by law, certifying payments of salary for, or paying salary to, any judge of the Supreme Court, Appellate Court and Circuit Court. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑108)(from Ch. 108 1/2, par. 18‑108) Sec. 18‑108. Judge. "Judge": Any person who receives payment for personal services as a judge or associate judge of a court; and any person, previously a participant, who receives payment for personal services as the administrative director appointed by the Supreme Court. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑109)(from Ch. 108 1/2, par. 18‑109) Sec. 18‑109. Eligible judge. "Eligible judge": Any judge except one who has elected not to participate in this system. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑110)(from Ch. 108 1/2, par. 18‑110) Sec. 18‑110. Participant. "Participant": Any judge participating in this system as specified in Sections 18‑120 and 18‑121. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑111)(from Ch. 108 1/2, par. 18‑111) Sec. 18‑111. Salary. "Salary": The total compensation paid for personal services as a judge, by the State, or by the State and a county as authorized by law. However, in the event that federal law results in any judge receiving imputed income based on the value of group term life insurance provided by the State, such imputed income shall not be included in salary for the purposes of this Article. (Source: P.A. 86‑273.)
(40 ILCS 5/18‑112)(from Ch. 108 1/2, par. 18‑112) Sec. 18‑112. Service. "Service": The period beginning on the day a person first became a judge, whether prior or subsequent to the effective date, and ending on the date under consideration, excluding all intervening periods during which he or she was not a judge following resignation or expiration of any term of election or appointment. Service also includes the following: (a) Any period prior to January 1, 1964 during which a judge served as a justice of the peace, police magistrate or master in chancery, or as a civil referee, commissioner or trial assistant to the chief judge in the Municipal Court of Chicago, or performed judicial duties as an assistant to the judge of the Probate Court of Cook County. A judge shall be entitled to credit for all or as much as the judge may desire of such service, not exceeding 8 years, upon payment of the participant's contribution covering such service at the contribution rates in effect on July 1, 1969, together with interest at 4% per annum compounded annually, from the dates the service was rendered to the date of payment, provided credit for such service had not been granted in any public pension fund or retirement system in the State. The required contributions shall be based upon the rate of salary in effect for the judge on the date he or she entered the system or on January 1, 1964, whichever is later. (b) Service rendered after January 1, 1964, as a holdover magistrate or master in chancery of the Circuit Court. A judge shall be entitled to credit for any period of such service, not exceeding a total of 8 years, together with the period of service taken into account in paragraph (a). Service credit under this paragraph is subject to the same contribution requirements and other limitations that are prescribed for service credit under paragraph (a). (c) Any period that a participant served as a member of the General Assembly, subject to the following conditions: (1) He or she has been a participant in this system for at least 4 years and has contributed to the system for service rendered as a member of the General Assembly subsequent to November 1, 1941, at the contribution rates in effect for a judge on the date of becoming a participant, including interest at 3% per annum compounded annually from the date such service was rendered to the date of payment, based on the salary in effect during such period of service; and (2) The participant is not entitled to credit for such service in any other public retirement system in the State. (d) Any period a participant served as a judge or commissioner of the Court of Claims of this State after November 1, 1941, provided he or she contributes to the system at the contribution rates in effect on the date of becoming a participant, based on salary received during such service, including interest at 3% per annum compounded annually from the date such service was rendered to the date of payment. (e) Any period that a participant served as State's Attorney or Public Defender of any county of this State, subject to the following conditions: (1) such service was not credited under any public pension fund or retirement system; (2) the maximum service to be credited in this system shall be 8 years; (3) the participant must have at least 6 years of service as a judge and as a participant of this system; and (4) the participant has made contributions to the system for such service at the contribution rates in effect on the date of becoming a participant in this system based upon the salary of the judge on such date, including interest at 4% per annum compounded annually from such date to the date of payment. A judge who terminated service before January 26, 1988 and whose retirement annuity began after January 1, 1988 may establish credit for service as a Public Defender in accordance with the other provisions of this subsection by making application and paying the required contributions to the Board not later than 30 days after August 23, 1989. In such cases, the Board shall recalculate the retirement annuity, effective on the first day of the next calendar month beginning at least 30 days after the application is received. (f) Any period as a participating policeman, employee or teacher under Article 5, 14 or 16 of this Code, subject to the following conditions: (1) the credits accrued under Article 5, 14 or 16 have been transferred to this system; and (2) the participant has contributed to the system an amount equal to (A) contributions at the rate in effect for participants at the date of membership in this system based upon the salary of the judge on such date, (B) the employer's share of the normal cost under this system for each year that credit is being established, based on the salary in effect at the date of membership in this system, and (C) interest at 6% per annum, compounded annually, from the date of membership to the date of payment; less (D) the amount transferred on behalf of the participant from Article 5, 14 or 16. (g) Any period that a participant served as the Administrative Director of the Circuit Court of Cook County, as Executive Director of the Home Rule Commission, as assistant corporation counsel in the Chicago Law Department, or as an employee of the Cook County Treasurer, subject to the following conditions: (1) the maximum amount of such service which may be credited is 10 years; (2) in order to qualify for such credit in this system, a judge must have at least 6 years of service as a judge and participant of this system; (3) the last 6 years of service credited in this system shall be as a judge and a participant in this system; (4) credits accrued to the participant under any other public pension fund or public retirement system in the State, if any, by reason of the service to be established under this paragraph (g) has been transferred to this system; and (5) the participant has contributed to this system the amount, if any, by which the amount transferred pursuant to subdivision (4) of this paragraph, if any, is less than the amount which the participant would have contributed to the system during the period of time being counted as service under this paragraph had the participant been a judge participating in this system during that time, based on the rate of contribution in effect and the salary earned by the participant on the date he or she became a participant, with interest accruing on such deficiency at a rate of 5% per annum from the date he or she became a participant through the date on which such deficiency is paid. (h) Any period that a participant served as a full‑time attorney employed by the Chicago Transit Authority created by the Metropolitan Transit Authority Act, subject to the following conditions: (1) any credit received for such service in the pension fund established under Section 22‑101 has been terminated; (2) the maximum amount of such service to be credited in this system shall be 10 years; (3) the participant must have at least 6 years of service as a judge and as a participant of this system; and (4) the participant has made contributions to the system for such service at the contribution rates in effect on the date of becoming a participant in this system based upon the salary of the judge on such date, including interest at 5% per annum compounded annually from such date to the date of payment. (i) Any period during which a participant received temporary total disability benefit payments, as provided in Section 18‑126.1. Service during a fraction of a month shall be considered a month of service, but no more than one month of service shall be credited for all service during any calendar month. (Source: P.A. 86‑272; 86‑273; 86‑1028; 87‑1265.)
(40 ILCS 5/18‑112.1)(from Ch. 108 1/2, par. 18‑112.1) Sec. 18‑112.1. (a) An active member of the General Assembly Retirement System may apply for transfer of his or her credits and creditable service under this system to the General Assembly Retirement System. Payment by this system to the General Assembly Retirement System shall be made at the same time as the transfer of credits and shall consist of: (1) the amounts credited to the applicant, through employee contributions, including interest if applicable, on the date of transfer; and (2) employer contributions equal to the accumulated employee contributions as determined under clause (1) above. Participation in this system shall terminate on the date of transfer. (b) An active member of the General Assembly may reinstate service credits terminated upon receipt of a refund by repaying to the system the amount of the refund together with interest thereon, to the date of payment. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑112.2)(from Ch. 108 1/2, par. 18‑112.2) Sec. 18‑112.2. Transfer of creditable service to Article 8, 9 or 13 Fund. (a) Any city officer as defined in Section 8‑243.2 of this Code, any county officer elected by vote of the people who is a participant in the pension fund established under Article 9 of this Code, and any elected sanitary district commissioner who is a participant in a pension fund established under Article 13 of this Code, may apply for transfer of his or her credits and creditable service accumulated under this System to such Article 8, 9 or 13 fund. Such creditable service shall be transferred forthwith. Payment by this System to the Article 8, 9 or 13 fund shall be made at the same time, and shall consist of: (1) the amounts credited to the applicant through
employee contributions, including interest if applicable, on the date of transfer; and
(2) employer contributions equal to the accumulated
employee contributions as determined under clause (1) above.
Participation in this System shall terminate on the date of transfer. (b) Any such elected city officer, county officer or sanitary district commissioner may reinstate credits and creditable service terminated upon receipt of a refund, by repaying to the System the amount of the refund together with interest thereon to the date of payment. (Source: P.A. 91‑357, eff. 7‑29‑99.)
(40 ILCS 5/18‑112.3)(from Ch. 108 1/2, par. 18‑112.3) Sec. 18‑112.3. (a) Persons otherwise required or eligible to participate in this System who elect to continue participation in the General Assembly System under Section 2‑117.1 may not participate in this System for the duration of such continued participation under Section 2‑117.1. (b) Upon terminating such continued participation, a person may transfer credits and creditable service accumulated under Section 2‑117.1 to this System, upon payment to this System of the amount by which (1) the employer and employee contributions that would have been required if he had participated in this System during the period for which credit under Section 2‑117.1 is being transferred, plus regular interest thereon at the prescribed rate from the date of such participation to the date of payment, exceeds (2) the amounts actually transferred under that Section to this System. (Source: P.A. 86‑272.)
(40 ILCS 5/18‑112.4)(from Ch. 108 1/2, par. 18‑112.4) Sec. 18‑112.4. Service credit for elected or appointed village official. An active participant in this System who has at least 6 years of service as a judge and as a participant of this System on August 23, 1989, and who has no creditable service as a participating employee under Article 7 of this Code, may establish service credit in this System: (i) for periods during which the participant held elective office as a member of the board of trustees of a village, and (ii) for any consecutive period not exceeding 5 years during which the participant held appointive office as a member of the zoning board of appeals of the same village in which the participant later held elective office as village trustee, provided such period of appointive office terminated within 12 months prior to the date such period of elective office commenced. Service credit in this System may be established pursuant to this Section only if the participant did not contribute to the retirement and benefit fund established under Article 7 of this Code for the service sought to be established by the participant in this System, and only if the participant has no equity or rights in that fund because of such service. Credit for such service may be established in this System by the participant paying to this System an amount equal to (1) contributions at the rate in effect for a judge on the date of becoming a participant in this System multiplied by the salary of the judge on such date for each year of service for which credit is being established, plus (2) the employer's share of the normal cost of benefits under this System, expressed as a percent of payroll, as determined by the System's actuary as of the date of the participant's membership in the System, multiplied by the salary of the judge on such date for each year of service for which credit is being established, plus (3) interest on (1) and (2) above at 6% per annum compounded annually from the date of membership to the date of payment by the participant. (Source: P.A. 86‑273; 86‑1028.)
(40 ILCS 5/18‑112.5)(from Ch. 108 1/2, par. 18‑112.5) Sec. 18‑112.5. Payments and Rollovers. (a) The Board may adopt rules prescribing the manner of repaying refunds and purchasing any optional credits permitted under this Article. The rules may prescribe the manner of calculating interest when such payments or repayments are made in installments. (b) Rollover contributions from other retirement plans qualified under the U.S. Internal Revenue Code may be used to purchase any optional credit or repay any refund permitted under this Article. (Source: P.A. 86‑1488.)
(40 ILCS 5/18‑112.6) Sec. 18‑112.6. Service credit for member of educational board. Until July 1, 1998, an active participant in this System who has at least 6 years of service as a judge may establish up to 2 years of service credit in this System for a period during which the participant held elective office as a member of a board of education in this State or a member of the board of trustees of a community college district in this State, by applying to the Board in writing and paying to the System an amount equal to (1) employee contributions based on the rate in effect for a judge on the date of becoming a participant in this System and the salary received by the judge on that date, plus (2) the employer's share of the normal cost of the benefits being established, plus (3) interest thereon at the prescribed rate, compounded annually, from the date of membership to the date of payment. However, credit may not be established under this Section for any period for which the judge has received credit under any other pension fund or retirement system subject to this Code, unless that credit has been terminated. (Source: P.A. 90‑448, eff. 8‑16‑97.)
(40 ILCS 5/18‑113)(from Ch. 108 1/2, par. 18‑113) Sec. 18‑113. Annuity. "Annuity": A series of monthly payments payable at the end of each calendar month during the life of an annuitant or as otherwise provided in this Article. The first payment shall be prorated for any fraction of a month elapsing to the end of the first month and the last payment shall be made for the whole calendar month in which death occurs. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑114)(from Ch. 108 1/2, par. 18‑114) Sec. 18‑114. Annuitant. "Annuitant": A person receiving a retirement annuity or survivor's annuity. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑115)(from Ch. 108 1/2, par. 18‑115) Sec. 18‑115. Beneficiary. "Beneficiary": A surviving spouse or children eligible for an annuity; or, if no eligible surviving spouse or children survives, the person or persons designated by the participant or annuitant in the last written designation on file with the Board; or, if no person so designated survives, or if no designation is on file, the estate of the participant or annuitant. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑116)(from Ch. 108 1/2, par. 18‑116) Sec. 18‑116. Actuarial tables. "Actuarial tables": Such tabular listings of assumed rates of death, disability, retirement and withdrawal from service and mathematical functions derived from such rates combined with an assumed rate of interest, based upon the experience of the system, as adopted by the board upon recommendation by the actuary. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑117)(from Ch. 108 1/2, par. 18‑117) Sec. 18‑117. Prescribed rate of interest. "Prescribed rate of interest": 4% per annum compounded annually, or such other rate prescribed by the board based on expected long term investment returns and the experience of the system. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑118)(from Ch. 108 1/2, par. 18‑118) Sec. 18‑118. Fiscal year. "Fiscal year": The period beginning on July 1 and ending on June 30 of the succeeding year. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑119)(from Ch. 108 1/2, par. 18‑119) Sec. 18‑119. Employer participation. Each employer is subject to the provisions of this system beginning on the effective date or the date of subsequent qualification as an employer. (Source: Laws 1963, p. 161.)
(40 ILCS 5/18‑120)(from Ch. 108 1/2, par. 18‑120) Sec. 18‑120. Employee participation. An eligible judge who is not a participant shall become a participant beginning on the date he or she becomes an eligible judge, unless the judge files with the board a written notice of election not to participate within 30 days of the date of being notified of the option. A person electing not to participate shall thereafter be ineligible to become a participant unless the election is revoked as provided in Section 18‑121. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑120.1)(from Ch. 108 1/2, par. 18‑120.1) Sec. 18‑120.1. Gender. The masculine gender whenever used in this Article includes the feminine gender unless manifestly inconsistent with the context. (Source: P.A. 83‑1440.)
(40 ILCS 5/18‑121)(from Ch. 108 1/2, par. 18‑121) Sec. 18‑121. Recision of election not to participate. A judge who filed a notice of election not to participate shall become a participant upon filing with the board before July 1, 1992, a written recision of such notice. The recision shall state that such person is then a judge, his or her present age, and previous records of service as a judge. After 3 years of service as a participant, the judge may obtain credit for all service as a judge prior to the date of participation by paying into the system the contributions that he or she would have made as a participant at the rates in effect during such service, together with interest at the rate of 4% per annum compounded annually from the date the contributions would have been due to the date of payment. Upon compliance, he or she shall receive credit for all service rendered as a judge prior to the date of becoming a participant. The time and manner of making such additional contributions, including interest, shall be prescribed by the board. Except as otherwise provided, a judge becoming a participant by a recision of an election not to participate, shall be governed by the provisions of this Article in effect on the date of the recision. (Source: P.A. 87‑794.)
(40 ILCS 5/18‑122)(from Ch. 108 1/2, par. 18‑122) Sec. 18‑122. Participation; military service. Participation shall continue until the date a participant becomes an annuitant, dies, or accepts a refund. Participation shall not cease during any period an eligible judge is serving with the military or naval forces of the United States while the United States is engaged in any war or for one year after such war, if the judge makes contributions, together with any interest payments which might be required, for delayed contribution payments. A participant may also apply for creditable service for up to 2 years of military service that need not have followed service as a judge and need not have been served during wartime. However, for this military service not immediately following employment as a judge, the applicant must make contributions to the System (1) at the rates provided in Section 18‑133 based upon the judge's rate of compensation on the last date as a participating judge prior to such military service, or on the first date as a participating judge after such military service, whichever is greater, plus (2) if payment is made on or after May 1, 1993, an amount determined by the Board to be equal to the employer's normal cost of the benefits accrued for such military service, plus (3) interest at the effective rate from the date of first membership in the System to the date of payment. The amendment to this Section made by this amendatory Act of 1993 shall apply to persons who are active contributors to the System on or after November 30, 1992. A person who was an active contributor to the System on November 30, 1992 but is no longer an active contributor may apply to purch
