093_SB0014

 
                                     LRB093 03003 EFG 03020 b

 1        AN ACT in relation to public employee benefits.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5.  The  Illinois  Pension  Code  is  amended  by
 5    adding Section 2-119.2 as follows:

 6        (40 ILCS 5/2-119.2 new)
 7        Sec.     2-119.2.     Maximum     retirement     annuity.
 8    Notwithstanding  any  other  provision  of  this  Code, for a
 9    person who first  becomes  a  participant  on  or  after  the
10    effective  date of this Section, the total retirement annuity
11    provided  under  this  Article,  including   any   automatic,
12    one-time,  or  other  increases  in  that  annuity  that  are
13    otherwise  provided under this Article, shall not ever exceed
14    100%  of  the  participant's  highest  salary   for   annuity
15    purposes.

16        Section  99.  Effective date.  This Act takes effect upon
17    becoming law.