40 ILCS 5/13-314
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 13 - Metropolitan Water Reclamation District Retirement Fund

 (from Ch. 108 1/2, par. 13-314)Sec. 13-314. Alternative provisions for Water Reclamation District  commissioners.(a) Transfer of credits.  Any Water Reclamation District commissioner  elected by vote of the people and who has elected to participate in this  Fund may transfer to this Fund credits and creditable service accumulated  under any other pension fund or retirement system established under  Articles 2 through 18 of this Code, upon payment to the Fund of (1) the  amount by which the employer and employee contributions that would have  been required if he had participated in this Fund during the period for  which credit is being transferred, plus interest, exceeds the amounts  actually transferred from such other fund or system to this Fund, plus (2)  interest thereon at 6% per year compounded annually from the date of  transfer to the date of payment.(b) Alternative annuity.  Any participant commissioner may elect to  establish alternative credits for an alternative annuity by electing in  writing to make additional optional contributions in accordance with this  Section and procedures established by the Board.  Unless and until such  time as the U.S. Internal Revenue Service or the federal courts provide a  favorable ruling as described in Section 13-502(f), a    commissioner  may discontinue making the additional optional contributions by notifying the  Fund in writing in accordance with this Section and procedures established  by the Board.Additional optional contributions for the alternative annuity shall be  as follows:(1) For service after the option is elected, an     additional contribution of 3% of salary shall be contributed to the Fund on the same basis and under the same conditions as contributions required under Section 13-502.(2) For contributions on past service, the additional     contribution shall be 3% of the salary for the applicable period of service, plus interest at the annual rate from time to time as determined by the Board, compounded annually from the date of service to the date of payment.  Contributions for service before the option is elected may be made in a lump sum payment to the Fund or by contributing to the Fund on the same basis and under the same conditions as contributions required under Section 13-502. All payments for past service must be paid in full before credit is given.  No additional optional contributions may be made for any period of service for which credit has been previously forfeited by acceptance of a refund, unless the refund is repaid in full with interest at the rate specified in Section 13-603, from the date of refund to the date of repayment.In lieu of the retirement annuity otherwise payable under this Article,  any commissioner who has elected to participate in the Fund and make  additional optional contributions in accordance with this Section,  has attained age 55, and has at least 6 years of service  credit, may elect to have the retirement annuity computed as follows: 3% of  the participant's average final salary as a commissioner for each of  the first 8 years of service credit, plus 4% of such salary for each of the  next 4 years of service credit, plus 5% of such salary for each year of  service credit in excess of 12 years, subject to a maximum of 80% of such  salary.  To the extent such commissioner has made additional optional  contributions with respect to only a portion of years of service credit,  the retirement annuity will first be determined in accordance with this  Section to the extent such additional optional contributions were made, and  then in accordance with the remaining Sections of this Article to the  extent of years of service credit with respect to which additional optional  contributions were not made.  The change in minimum retirement age (from  60 to 55) made by Public Act 87-1265 applies to persons who begin  receiving a retirement annuity under this Section on or after January 25, 1993 (the effective  date of Public Act 87-1265), without regard to whether they are in service  on or after that date.(c) Disability benefits.  In lieu of the disability benefits otherwise  payable under this Article, any commissioner who (1) has elected to  participate in the Fund, and (2) has become permanently disabled and as a  consequence is unable to perform the duties of office, and (3) was making  optional contributions in accordance with this Section at the time the  disability was incurred, may elect to receive a disability annuity  calculated in accordance with the formula in subsection (b).  For the  purposes of this subsection, such commissioner shall be  considered permanently disabled only if: (i) disability occurs while in  service as a commissioner and is of such a nature as to prevent the  reasonable performance of the duties of office at the time; and (ii) the  Board has received a written certification by at least 2 licensed  physicians appointed by it stating that such commissioner is disabled and  that the disability is likely to be permanent.(d) Alternative survivor's benefits.  In lieu of the  survivor's benefits otherwise payable under this Article, the spouse or  eligible child of any deceased commissioner who (1) had elected to  participate in the Fund, and (2) was either making (or had already made) additional optional  contributions on the date of death, or was receiving an annuity calculated  under this Section at the time of death, may elect to receive an annuity  beginning on the date of the commissioner's death, provided that the spouse  and commissioner must have been married on the date of the last termination  of a service as commissioner and for a continuous period of at least one  year immediately preceding death.The annuity shall be payable beginning on the date of the commissioner's  death if the spouse is then age 50 or over, or beginning at age 50 if the  age of the spouse is less than 50 years.  If a minor unmarried child or  children of the commissioner, under age 18 (age 23 in the case of a full-time student), also survive, and the child or  children are under the care of the eligible spouse, the annuity shall begin  as of the date of death of the commissioner without regard to the spouse's age.  Beginning on the first day of the month following the month in which this amendatory Act of the 96th General Assembly takes effect, benefits shall begin on the first of the month following the commissioner's date of death if the spouse is then age 50 or over or, if a minor unmarried child or children of the commissioner, under age 18 (age 23 in the case of a full time student), also survive, and the child or children are under the care of the eligible spouse. The benefit is payable for the full month if the annuitant was alive on the first day of the month.The annuity to a spouse shall be the greater of (i) 66 2/3% of the amount of retirement  annuity earned by the commissioner on the date of death, subject to a  minimum payment of 10% of salary, provided that if an eligible spouse,  regardless of age, has in his or her care at the date of death of the  commissioner any unmarried child or children of the commissioner under age  18, the minimum annuity shall be 30% of the commissioner's salary, plus 10%  of salary on account of each minor child of the commissioner, subject to a  combined total payment on account of a spouse and minor children not to  exceed 50% of the deceased commissioner's salary or (ii) for the spouse of a commissioner whose death occurs on or after August 18, 2005 (the effective date of Public Act 94-621), the surviving spouse annuity shall be computed in the same manner as described in Section 13-306(a).  The number of total service years used to calculate the commissioner's annuity shall be the number of service years used to calculate the annuity for that commissioner's surviving spouse. In the event there shall  be no spouse of the commissioner surviving, or should a spouse die while  eligible minor children still survive the commissioner, each such child  shall be entitled to an annuity equal to 20% of salary of the commissioner  subject to a combined total payment on account of all such children not to  exceed 50% of salary of the commissioner. The salary to be used in the  calculation of these benefits shall be the same as that prescribed for  determining a retirement annuity as provided in subsection (b) of this Section.Upon the death of a commissioner occurring after termination of a service  or while in receipt of a retirement annuity, the combined total payment to  a spouse and minor children, or to minor children alone if no eligible  spouse survives, shall be limited to 85% of the amount of retirement  annuity earned by the commissioner.Marriage of a child or attainment of age 18 (age 23 in the case of a full-time student), whichever first occurs,  shall render the child ineligible for further consideration in the payment  of annuity to a spouse or in the increase in the amount thereof. Upon  attainment of ineligibility of the youngest minor child of the  commissioner, the annuity shall immediately revert to the amount payable  upon death of a commissioner leaving no minor children surviving. If the  spouse is under age 50 at such time, the annuity as revised shall be  deferred until such age is attained.(e) Refunds.  Refunds of additional optional contributions shall be made  on the same basis and under the same conditions as provided under Section  13-601. Interest shall be credited on the same basis and under the same  conditions as for other contributions.Optional contributions shall be accounted for in a separate Commission's  Optional Contribution Reserve.  Optional contributions under this Section  shall be included in the amount of employee contributions used to compute  the tax levy under Section 13-503.(f) Effective date.  The effective date of this plan of optional  alternative benefits and contributions shall be the date upon which  approval was received from the U.S. Internal Revenue Service.  The plan of  optional alternative benefits and contributions shall not be available to  any former employee receiving an annuity from the Fund on the effective  date, unless said former employee re-enters service and renders at least 3  years of additional service after the date of re-entry as a commissioner.    (Source: P.A. 95-279, eff. 1-1-08; 96-251, eff. 8-11-09.)