« ForrigeFortsett »
If any employee shall die while in service before attaining the age of sixty years, or if any former employee shall die before entering upon annuity, or if any employee shall attain the age of sixty years while in service, or if any employee after at least ten full years of service shall withdraw from service having attained at least the age of fifty-five years, or if any employee, who shall withdraw from service after at least ten years of service, but before attainment of the age of fifty-five years, shall not make request for refund before attaining the age of fifty-five years, the amounts subject to the right of such employee to receive refunds shall be:
The amount accumulated from the deductions from the salary of such employee for old age retirement annuity and widow's annuity purposes, including all amounts paid by the employer for such purposes in lieu of deductions from the salary of any employee disabled in consequence of the direct performance of duty, less all amounts paid in annuity to such employe and the widow and children of such employee, shall be refunded, provided no children of such employee shall be eligible fur annuity upon death of the last survivor of employee and widow.
If children eligible for annuity survive said last survivor and a balance over the amounts paid in such annuities exists, such part of such balance as is necessary shall be set aside in the Children's Annuity Fund to provide children's annuities, and the remainder, if any, shall be refunded. When annuities to children cease, any balance remaining shall be refunded.
The foregoing provisions of this section shall be modified to the extent that if any annuity arises through disability or death of an employee in consequence of the direct performance of duty, the amount to refund shall not be reduced by any amounts paid in annuity prior to the date when such employee attains the age of sixty-five years or would have attained such age if alive.
Refunds of accumulation from contributions of the employer for old age retirement annuity shall be made to the employers in the form of a credit to reduce the contributions which such employers would otherwise be required to make during the following year, in amounts and under conditions as stated below.
1. If an employee withdraws from service and receives in refunds the accumulation from deductions from salary for old age retirement annuity and widow's annuity purposes for him, the entire amount accumulated from contributions of the employer to provide old age retirement annuity and widow's annuity for such employee shall be credited to the employers when refund to the employee is made.
2. If any employee withdraws from service and does not receive refund of the accumulation from deductions from his salary for old age retirement annuity and widow's annuity purposes for him, the accumulation of contributions by the employer for old age retirement annuity on behalf of such employee shall remain to the credit of such employee until the date when such employee attains the age of sixty years. On such date the accumulation, or that part not to be credited to such employee on such date, shall be credited to the employers on such date.
3. Upon death of an employce, any balance remaining after widow's and children's annuities have been provided for, shall be credited to the employers as of the date of death of the employee.
Refunds shall be made as directed by the employee in writing. If no direction is given, they shall be made to the widow of such employee is such widow is not eligible for annuity, or if no widow exists, then to the children of such employee in equal amounts to each, or if no children exist, then to surviving parents, if any, in equal amounts to each, or if there be no surviving parents, then to the heirs, executors, administrators, or assigns of such employee.
In case of the withdrawal of an employee from service, the Retirement Board may at its discretion defer payment of refunds for a period not to exceed one year, except that, if at the end of the year suit is pending to determine the employee's right to retain his former position, payment of refunds shall be suspended until disposition is made of such suit.
To provide for refunds as specified in this Act, there shall be deducted from the accumulation of the sums deducted from the salary of each employee for old age retirement annuity and widow's annuity purposes for him, and the accumulation of the sums contributed by the employer on behalf of each such employee for such purposes, amounts equal to two per cent of such accumulation, as provided elsewhere in this Act, except that no such deduction shall be made from contributions of the employer to provide supplementary annuities for present employees.
$ 30. Any employee shall be entitled to credit as service for any or all periods of leave of absence subsequent to the date when this Act comes in force and effect not in excess of one-tenth of the entire term of service rendered by such employee prior to such leave or leaves of absence, provided that no such leave of absence shall be counted in computing service upon which subsequent leaves of absence shall be granted.
If an employee during any period of leave of absence and not receiving benefits from the Sickness and Accident Fund shall pay to the Retirement Board amounts equal to the percentage of salary theretofore deducted from his salary for old age retirement annuity and widow's annuity purposes, his employer shall pay to said Retirement Board the corresponding amounts required for such purpose. Otherwise such employer shall not be required to make such payments.
If an employee is absent on leave of absence without pay and is not in receipt of benefit from the Sickness and Accident Fund, he shall be permitted to remain a contributor to the Sickness and Accident Fund for the first thirty days of such leave of absence, by payment in advance of an amount equal to the amount being paid by him to the Sickness and Accident Fund at the time when such leave of absence is granted.
§ 31. All annuities and all reserves on annuities present or prospective, provided for in this Act, shall be computed according to the American Experience Table of Mortality and four per cent interest.
Unless otherwise specifically stated, all interest accretions shall be at the rate of four per cent per annum.
In any case where the annuity provided under this Act is less than ten dollars ($10.00) per month, then an annuity of ten dollars ($10.00) per month shall be paid the annuitant as a temporary annuity.
A fiscal year shall mean the year commencmg with July first and ending with June thirtieth next following.
Any person classed as an employee as defined in this Act, or any person who shall hereafter become classed as an employee as defined in this Act shall by such employment accept the provisions of this Act and thereupon become contributors under said Act in accordance with the terms thereof. And the provisions of this Act shall become a condition of the employment of such person and part of any contract of employment entered into by and with such person.
Any amount paid into the Employers' Annuity Fund, or the Salary Deductions for Annuity Fund, shall begin to earn interest from the last day of the calendar month when such amount is paid into such fund.
If an employee upon or after withdrawal from service before attainment of the age of fifty-five years and after at least ten years of service does not apply for refunds he shall be deemed to be eligible for annuity.
The accumulations from contributions of the employer or employers to provide a widow's annuity for the widow of a former employee shail not be used for annuity purposes for such widow to a greater extent than one-tenth of such accumulation for each year of service rendered by such employee in addition to ten full years of service.
In case of disability incurred not in consequence of the direct performance of duty, amounts equal to the percentages of salary required from such employee and the employer of such employee for old age retirement annuity and widow's annuity purposes for such employee shall be paid from the Sickness and Accident Fund to the Salary Deductions for Annuity Fund and the Employers’ Annuity Fund, respectively, and placed to the credit of the disabled employee therein.
In any case where the combined annuities of a widow and children of a deceased employee, or of a disabled employee and children of such employee, would exceed the limitation upon the combined annuities of such a group of persons as stated in section 21, the annuities of such widow and children, or of such employee and children, shall be pro rated, to conform to the limitation stated, according to the amounts that would otherwise be received by such persons.
Wherever "contribute," "contributions," "contributor," or "contributed” of or by an employee are mentioned in this Act they shall mean amounts deducted from the salary of an employee or amounts otherwise paid by an employee for the purposes of this Act.
The Retirement Board may specify a date upon which all employes under the jurisdiction of such board who enter service during any part of the calendar year following such date shall be considered as entering service, and when such date is thus specified, all employes entering on any subsequent date during such calendar year shall be considered as having entered upon the date specified.
The Retirement Board shall employ one or more actuaries, whose duty it shall be to determine the amount of money necessary to be provided under the provisions of this Act, and to assist the Retirement Board in preparing the statement which said board shall prepare as of June 30 of each year, and to certify as to the correctness of such statement.
No employee shall be retired upon old age retirement annuity prior to July 1, 1920, unless such employee shall have attained an age of sixty-five (65) or more years and shall have been in service at least fifteen years; and no annuity or benefit of any kind shall be granted to any employee under the provisions of this Act until November 1, 1919 and no payment shall be made to any employee before December 1, 1919, on account of any annuity or benefit granted.
Notwithstanding any other provision of this Act concerning deductions from salary of an employee, in the event that the amount specified in this Act to be deducted from the salaries of employees during the month of July, 1919, shall not be deducted during such month a sum equal to such amount shall be deducted from the first payment on account of salary of such employce made subsequent to July, 1919, which amount shall be in addition to the regular deduction to be made from such payment of salary.
All moneys accruing from the levy and collection of taxes, under section 3 hereof, shall be turned over to the custodian of the annuity and benefit fund by any official or officials who shall receive said moneys, as soon as they are collected.
§ 32. The right of a person to annuity or any other right aceruing to any other person under the provisions of this Act, and the moneys in the various funds created under this Act, are hereby exempt from any State or municipal tax, and exempt from levy and sale, garnishment, attachment, or any other process whatsoever, and shall be unassignable except as in this Act specifically otherwise provided.
APPROVED June 21, 1919.
PARK EMPLOYES' ANNUITY AND BENEFIT FUND.
Amends section 3, Act of 1919.
$ 3. Tax levy-rate. APPROVED JUNE 30, 1919.)
(SENATE BILL No. 562.
An Act to amend section 3 of an Act entitled, “An Act to provide for
the creation, setting apart, formation, administration and disbursement of a park employees' annuity and benefit fund," passed June 6, 1919.
SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly: That section 3 of an Act entitled, "An Act to provide for the creation, setting apart, formation. administration and disbursement of a park employees' annuity and benefit fund,” passed June 6, 1919, be, and the same is hereby amended to read as follows:
§ 3. Each of said boards of park commissioners shall annually levy a tax (in addition to the taxes now authorized by law) upon al
taxable property embraced in the districts governed by them respectively, at the rate on the dollar of all such taxable property which when added to the amounts deducted from the salary or wages of employes included under the provisions of this Act and applied to the annuity and benefit fund created hereunder, shall be sullicient to provide for the purposes of this Act in accordance with the provisions thereof. Said taxes shall be levied and collected with and in like manner as the general taxes of such parks. Said taxes shall not be included in the aggregate of all taxes to be reduced under the provisions of an Act entitled, “An Act concerning the levy and extension of taxes," approved May 9, 1901, in force July 1, 1901, as subsequently amended. The amount of such annual tax to be levied by any such board of park commissioners shall not exceed two-thirds of one mill on the dollar of the assessed valuation of all taxable property embraced within the park district under the jurisdiction of such board of park commissioners.
APPROVED June 30, 1919.
PARK POLICE PENSION FUND.
$ 8. How secured-duty of In
--report--tax. (SENATE BILL No. 457, APPROVED JUNE 30, 1919.)
An Act to amend section 8 of an Act entitled, “An Act to provide for
the setting apart, formation, administration and disbursement of a park police pension fund,” filed with the Governor May 19, 1917, in force July 1, 1917.
Section 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly: That section 8 of an Act entitled, "An Act to provide for the setting apart, formation, administration and disbursement of a park police pension fund,” filed with the Governor May 19, 1917, in force July 1, 1917, be and the same is hereby amended to read as follows:
§ 8. Said pension fund shall consist of amounts of two and onehalf per cent. retained or deducted from the salary or wages payable to each member of such police department cach month, and such other sums as are hereinafter referred to.
It shall be the duty of the Superintendent of Insurance of the State of Illinois to determine the amount of money necessary to be provided annually for the purpose of:
(a) Paying pensions granted under the Act superseded by this Act;
(b) Paying pensions to policemen (their widows and children entitled thereto) members of the department of police prior to January 1, 1916; and
(c) Establishing and maintaining a reserve fund for the payment of pensions to policemen, (their widows and children) becoming members of the police department subsequent to January 1, 1916.
Such superintendent of insurance shall report his findings to the board on or before the second day of July of each year. Said board