97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB0513

 

Introduced 2/8/2011, by Sen. John J. Cullerton

 

SYNOPSIS AS INTRODUCED:
 
40 ILCS 5/7-141  from Ch. 108 1/2, par. 7-141

    Amends the Illinois Pension Code. Makes a technical change in a Section concerning the Illinois Municipal Retirement Fund.


LRB097 04273 JDS 44312 b

PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB0513LRB097 04273 JDS 44312 b

1    AN ACT concerning public employee benefits.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Pension Code is amended by changing
5Section 7-141 as follows:
 
6    (40 ILCS 5/7-141)  (from Ch. 108 1/2, par. 7-141)
7    Sec. 7-141. Retirement annuities - Conditions. Retirement
8annuities shall be payable as hereinafter set forth:
9    (a) A participating employee who, regardless of cause, is
10separated from the the service of all participating
11municipalities and instrumentalities thereof and participating
12instrumentalities shall be entitled to a retirement annuity
13provided:
14        1. He is at least age 55, or in the case of a person who
15    is eligible to have his annuity calculated under Section
16    7-142.1, he is at least age 50;
17        2. He is (i) an employee who was employed by any
18    participating municipality or participating
19    instrumentality which had not elected to exclude persons
20    employed in positions normally requiring performance of
21    duty for less than 1000 hours per year or was employed in a
22    position normally requiring performance of duty for 600
23    hours or more per year prior to such election by any

 

 

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1    participating municipality or participating
2    instrumentality included in and subject to this Article on
3    or before the effective date of this amendatory Act of 1981
4    which made such election and is not entitled to receive
5    earnings for employment in a position normally requiring
6    performance of duty for 600 hours or more per year for any
7    participating municipality and instrumentalities thereof
8    and participating instrumentality; or (ii) an employee who
9    was employed only by a participating municipality or
10    participating instrumentality, or participating
11    municipalities or participating instrumentalities, which
12    have elected to exclude persons in positions normally
13    requiring performance of duty for less than 1000 hours per
14    year after the effective date of such exclusion or which
15    are included under and subject to the Article after the
16    effective date of this amendatory Act of 1981 and elects to
17    exclude persons in such positions, and is not entitled to
18    receive earnings for employment in a position normally
19    requiring performance of duty for 1000 hours or more per
20    year by such a participating municipality or participating
21    instrumentality;
22        3. The amount of his annuity, before the application of
23    paragraph (b) of Section 7-142 is at least $10 per month;
24        4. If he first became a participating employee after
25    December 31, 1961, he has at least 8 years of service. This
26    service requirement shall not apply to any participating

 

 

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1    employee, regardless of participation date, if the General
2    Assembly terminates the Fund.
3    (b) Retirement annuities shall be payable:
4        1. As provided in Section 7-119;
5        2. Except as provided in item 3, upon receipt by the
6    fund of a written application. The effective date may be
7    not more than one year prior to the date of the receipt by
8    the fund of the application;
9        3. Upon attainment of age 70 1/2 if the member (i) is
10    no longer in service, and (ii) is otherwise entitled to an
11    annuity under this Article;
12        4. To the beneficiary of the deceased annuitant for the
13    unpaid amount accrued to date of death, if any.
14(Source: P.A. 91-887, eff. 7-6-00.)