Recent Public Acts signed into law: P.A. 97-0272 and P.A.97-0273
August 15, 2011
On August 8, 2011, the governor signed House Bill 3253 (Public Act 97-0272) and House Bill 3332 (Public Act 97-0273) into law.
Executive Summary
- Elected County Official (ECO) Plan
- Closes the Elected County Official plan to new members. Current ECO members may remain in the plan.
- SLEP Plan
- Sheriff’s Law Enforcement Personnel (SLEP) plan members who first join SLEP on or after August 8, 2011, may no longer upgrade Regular service credit to SLEP.
- Transfer of local police pension fund service into IMRF
- Provides a brief window during which active IMRF members can transfer up to 10 years of local police pension fund service into IMRF.
Dear Authorized Agent:
On August 8, 2011, the governor signed House Bill 3253 (Public Act 97-0272) and House Bill 3332 (Public Act 0273) into law. The new provisions are explained below:
Public Act 97-0272
- Elected County Official (ECO) Plan
- Closes the Elected County Official (ECO) plan to new members. Elected county officials may not elect the ECO plan; counties may not adopt the ECO plan.
Effective date: August 8, 2011
Applies to counties and to all elected county officials
Old Law: A member participating as an elected county official could elect to participate in the Elected County Official (ECO) Plan if his/her county adopted the program by resolution.
New Law: If a current elected county official has not elected to participate in ECO, he/she no longer has the option to do so. Future elected county officials may not elect ECO. If a county has not adopted the ECO plan, it no longer has the option to do so. Elected County Officials currently participating in ECO remain in the plan.
Elected County Officials currently participating in ECO remain in the plan. However, if after August 8, 2011, an ECO member is elected to a different office:
- In the same county, he or she can participate in ECO.
- In a different county, he or she is not eligible for ECO in that new county.
Members participating in the Original ECO plan are not affected by this provision, as long as they have not revoked their ECO participation.
- Closes the Elected County Official (ECO) plan to new members. Elected county officials may not elect the ECO plan; counties may not adopt the ECO plan.
- SLEP Plan
- Sheriffs Law Enforcement Personnel (SLEP) plan members may no longer upgrade Regular service credit to SLEP.
Effective date: August 8, 2011
Applies to members first beginning SLEP participation on or after August 8, 2011
Old Law: SLEP members could convert up to 10 years of Regular plan service credit to SLEP service. The Regular service must have been earned before the members SLEP service.
New Law: Members who join the SLEP plan on or after August 8, 2011, are not eligible to upgrade Regular service credit to SLEP.
SLEP members who began participating in SLEP before August 8, 2011, remain eligible to convert up to 10 years of Regular plan service credit to SLEP service.
- Sheriffs Law Enforcement Personnel (SLEP) plan members may no longer upgrade Regular service credit to SLEP.
Public Act 97-0273
- Transfer of local police pension fund service into IMRF
- Provides a brief window during which active IMRF members can transfer up to10 years of local police pension fund service into IMRF.
Effective date: August 8, 2011
Applies to active members
Old Law: Reciprocity does not exist between IMRF and local police pension funds. If a member has both IMRF and local police pension fund service credit, that service cannot be combined to calculate a pension.
New Law: Provides a brief window during which active members of IMRF can transfer up to 10 years of local police pension fund service to IMRF. Applications must be received no later than October 6, 2011.
The cost to the member for this transfer is the difference between how much money is transferred from the members local police pension fund to IMRF and the contributions that would have been required had the service been earned in IMRF. (If more money is received than would have been required, no refund is payable.)
Current IMRF members can transfer their local police pension fund service to IMRF by completing *IMRF Form 6.95, Article 3 Police Pension Fund Transfer to IMRF Under Public Act 97-0273. The form can be downloaded from the IMRF website. Members without web access can request the form by calling 1-800-ASK-IMRF (1-800-275-4673). IMRF must receive the members application no later than October 6, 2011.
IMRF members who took a refund of their local police pension fund service may repay the refund, reinstate the service, and transfer the service to IMRF. The member should contact the local police pension fund to begin the reinstatement process.
- Provides a brief window during which active IMRF members can transfer up to10 years of local police pension fund service into IMRF.
Questions?
If you have any questions regarding the information presented in this memorandum, please send us a secure electronic message or call an IMRF Member Services Representative at 1-800-ASK-IMRF (1-800-275-4673), 7:30 a.m. to 5:30 p.m., Monday through Friday.