Full Text of HB1447 97th General Assembly
HB1447ham001 97TH GENERAL ASSEMBLY | Rep. Kelly Burke Filed: 3/2/2011
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| 1 | | AMENDMENT TO HOUSE BILL 1447
| 2 | | AMENDMENT NO. ______. Amend House Bill 1447 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 5. The Illinois Pension Code is amended by | 5 | | changing Sections 2-108.1, 2-119.1, 2-121.1, 18-125, 18-125.1, | 6 | | and 18-128.01 as follows:
| 7 | | (40 ILCS 5/2-108.1) (from Ch. 108 1/2, par. 2-108.1)
| 8 | | Sec. 2-108.1. Highest salary for annuity purposes.
| 9 | | (a) "Highest salary for annuity purposes" means whichever | 10 | | of
the following is applicable to the participant:
| 11 | | For a participant who first becomes a participant of this | 12 | | System before August 10, 2009 (the effective date of Public Act | 13 | | 96-207):
| 14 | | (1) For a participant who is a member of the General | 15 | | Assembly on his
or her last day of service: the highest | 16 | | salary that is prescribed by law,
on the participant's last |
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| 1 | | day of service, for a member of the General
Assembly who is | 2 | | not an officer; plus, if the participant was elected or
| 3 | | appointed to serve as an officer of the General Assembly | 4 | | for 2 or more
years and has made contributions as required | 5 | | under subsection (d) of
Section 2-126, the highest | 6 | | additional amount of compensation prescribed by
law, at the | 7 | | time of the participant's service as an officer, for | 8 | | members of
the General Assembly who serve in that office.
| 9 | | (2) For a participant who holds one of the State | 10 | | executive offices
specified in Section 2-105 on his or her | 11 | | last day of service: the highest
salary prescribed by law | 12 | | for service in that office on the participant's
last day of | 13 | | service.
| 14 | | (3) For a participant who is Clerk or Assistant Clerk | 15 | | of the House of Representatives or Secretary or Assistant | 16 | | Secretary of the Senate
on his or her last day of service: | 17 | | the salary received for service in that
capacity on the | 18 | | last day of service, but not to exceed the highest salary
| 19 | | (including additional compensation for service as an | 20 | | officer) that is
prescribed by law on the participant's | 21 | | last day of service for the highest
paid officer of the | 22 | | General Assembly.
| 23 | | (4) For a participant who is a continuing participant | 24 | | under Section
2-117.1 on his or her last day of service: | 25 | | the salary received for service
in that capacity on the | 26 | | last day of service, but not to exceed the highest
salary |
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| 1 | | (including additional compensation for service as an | 2 | | officer) that
is prescribed by law on the participant's | 3 | | last day of service for the
highest paid officer of the | 4 | | General Assembly.
| 5 | | For a participant who first becomes a participant of this | 6 | | System on or after August 10, 2009 (the effective date of | 7 | | Public Act 96-207) and before January 1, 2011 (the effective | 8 | | date of Public Act 96-889), the average monthly salary obtained | 9 | | by dividing the total salary of the participant during the | 10 | | period of: (1) the 48 consecutive months of service within the | 11 | | last 120 months of service in which the total compensation was | 12 | | the highest, or (2) the total period of service, if less than | 13 | | 48 months, by the number of months of service in that period. | 14 | | For a participant who first becomes a participant of this | 15 | | System on or after January 1, 2011 (the effective date of | 16 | | Public Act 96-889), the average monthly salary obtained by | 17 | | dividing the total salary of the participant during the 96 | 18 | | consecutive months of service within the last 120 months of | 19 | | service in which the total compensation was the highest by the | 20 | | number of months of service in that period; however, beginning | 21 | | January 1, 2011, the highest salary for annuity purposes may | 22 | | not exceed $106,800, except that that amount shall annually | 23 | | thereafter be increased by the lesser of (i) 3% of that amount, | 24 | | including all previous adjustments, or (ii) the annual | 25 | | unadjusted percentage increase (but not less than zero) in the | 26 | | consumer price index-u
for the 12 months ending with the |
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| 1 | | September preceding each November 1. | 2 | | For a participant who is a participant on the effective | 3 | | date of this amendatory Act of the 97th General Assembly and | 4 | | who irrevocably elects the reduced benefits under this | 5 | | paragraph and for a participant who first becomes a participant | 6 | | of this System after the effective date of this amendatory Act | 7 | | of the 97th General Assembly, the average monthly salary | 8 | | obtained by dividing the total salary of the participant during | 9 | | the 96 consecutive months of service within the last 120 months | 10 | | of service in which the total compensation was the highest by | 11 | | the number of months of service in that period; however, | 12 | | beginning on the effective date of this amendatory Act of the | 13 | | 97th General Assembly, the highest salary for annuity purposes | 14 | | may not, for the affected persons, exceed $106,800, except that | 15 | | that amount shall annually thereafter be increased by the | 16 | | lesser of (i) 3% of that amount, including all previous | 17 | | adjustments, or (ii) one-half the annual unadjusted percentage | 18 | | increase (but not less than zero) in the consumer price index-u
| 19 | | for the 12 months ending with the September preceding each | 20 | | November 1. | 21 | | "Consumer price index-u" means
the index published by the | 22 | | Bureau of Labor Statistics of the United States
Department of | 23 | | Labor that measures the average change in prices of goods and
| 24 | | services purchased by all urban consumers, United States city | 25 | | average, all
items, 1982-84 = 100. The new amount resulting | 26 | | from each annual adjustment
shall be determined by the Public |
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| 1 | | Pension Division of the Department of Insurance and made | 2 | | available to the Board by November 1 of each year. | 3 | | (b) The earnings limitations of subsection (a) apply to | 4 | | earnings
under any other participating system under the | 5 | | Retirement Systems Reciprocal
Act that are considered in | 6 | | calculating a proportional annuity under this
Article, except | 7 | | in the case of a person who first became a member of this
| 8 | | System before August 22,
1994.
| 9 | | (c) In calculating the subsection (a) earnings limitation | 10 | | to be applied to
earnings under any other participating system | 11 | | under the Retirement Systems
Reciprocal Act for the purpose of | 12 | | calculating a proportional annuity under this
Article, the | 13 | | participant's last day of service shall be deemed to mean the | 14 | | last
day of service in any participating system from which the | 15 | | person has applied
for a proportional annuity under the | 16 | | Retirement Systems Reciprocal Act.
| 17 | | (Source: P.A. 96-207, eff. 8-10-09; 96-889, eff. 1-1-11; | 18 | | 96-1490, eff. 1-1-11.)
| 19 | | (40 ILCS 5/2-119.1) (from Ch. 108 1/2, par. 2-119.1)
| 20 | | Sec. 2-119.1. Automatic increase in retirement annuity.
| 21 | | (a) A participant who retires after June 30, 1967, and who | 22 | | has not
received an initial increase under this Section before | 23 | | the effective date
of this amendatory Act of 1991, shall, in | 24 | | January or July next following
the first anniversary of | 25 | | retirement, whichever occurs first, and in the same
month of |
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| 1 | | each year thereafter, but in no event prior to age 60, have the | 2 | | amount
of the originally granted retirement annuity increased | 3 | | as follows: for each
year through 1971, 1 1/2%; for each year | 4 | | from 1972 through 1979, 2%; and for
1980 and each year | 5 | | thereafter, 3%. Annuitants who have received an initial
| 6 | | increase under this subsection prior to the effective date of | 7 | | this amendatory
Act of 1991 shall continue to receive their | 8 | | annual increases in the same month
as the initial increase.
| 9 | | (b) Beginning January 1, 1990, for eligible participants | 10 | | who remain
in service after attaining 20 years of creditable | 11 | | service, the 3% increases
provided under subsection (a) shall | 12 | | begin to accrue on the January 1 next
following the date upon | 13 | | which the participant (1) attains age 55, or (2)
attains 20 | 14 | | years of creditable service, whichever occurs later, and shall
| 15 | | continue to accrue while the participant remains in service; | 16 | | such increases
shall become payable on January 1 or July 1, | 17 | | whichever occurs first, next
following the first anniversary of | 18 | | retirement. For any person who has service
credit in the System | 19 | | for the entire period from January 15, 1969 through
December | 20 | | 31, 1992, regardless of the date of termination of service, the
| 21 | | reference to age 55 in clause (1) of this subsection (b) shall | 22 | | be deemed to
mean age 50.
| 23 | | This subsection (b) does not apply to any person who first | 24 | | becomes a
member of the System after the effective date of this | 25 | | amendatory Act of
the 93rd General Assembly.
| 26 | | (b-5) Notwithstanding any other provision of this Article, |
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| 1 | | a participant who first becomes a participant on or after | 2 | | January 1, 2011 (the effective date of Public Act 96-889) | 3 | | shall, in January or July next following the first anniversary | 4 | | of retirement, whichever occurs first, and in the same month of | 5 | | each year thereafter, but in no event prior to age 67, have the | 6 | | amount of the retirement annuity then being paid increased by | 7 | | 3% or the annual unadjusted percentage increase in the Consumer | 8 | | Price Index for All Urban Consumers as determined by the Public | 9 | | Pension Division of the Department of Insurance under | 10 | | subsection (a) of Section 2-108.1, whichever is less. | 11 | | (b-10) Notwithstanding any other provision of this | 12 | | Article, a participant who is a participant on the effective | 13 | | date of this amendatory Act of the 97th General Assembly and | 14 | | who irrevocably elects the reduced benefits under this | 15 | | subsection (b-10) and a participant who first becomes a | 16 | | participant after the effective date of this amendatory Act of | 17 | | the 97th General Assembly shall, in January or July next | 18 | | following the first anniversary of retirement, whichever | 19 | | occurs first, and in the same month of each year thereafter, | 20 | | but in no event prior to age 67, have the annuity increased by | 21 | | 3% or one-half the annual unadjusted percentage increase (but | 22 | | not less than zero) in the Consumer Price Index for All Urban | 23 | | Consumers as determined by the Public Pension Division of the | 24 | | Department of Insurance under subsection (a) of Section | 25 | | 2-108.1, whichever is less, of the originally granted | 26 | | retirement annuity. |
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| 1 | | (c) The foregoing provisions relating to automatic | 2 | | increases are not
applicable to a participant who retires | 3 | | before having made contributions
(at the rate prescribed in | 4 | | Section 2-126) for automatic increases for less
than the | 5 | | equivalent of one full year. However, in order to be eligible | 6 | | for
the automatic increases, such a participant may make | 7 | | arrangements to pay
to the system the amount required to bring | 8 | | the total contributions for the
automatic increase to the | 9 | | equivalent of one year's contributions based upon
his or her | 10 | | last salary.
| 11 | | (d) A participant who terminated service prior to July 1, | 12 | | 1967, with at
least 14 years of service is entitled to an | 13 | | increase in retirement annuity
beginning January, 1976, and to | 14 | | additional increases in January of each
year thereafter.
| 15 | | The initial increase shall be 1 1/2% of the originally | 16 | | granted retirement
annuity multiplied by the number of full | 17 | | years that the annuitant was in
receipt of such annuity prior | 18 | | to January 1, 1972, plus 2% of the originally
granted | 19 | | retirement annuity for each year after that date. The | 20 | | subsequent
annual increases shall be at the rate of 2% of the | 21 | | originally granted
retirement annuity for each year through | 22 | | 1979 and at the rate of 3% for
1980 and thereafter.
| 23 | | (e) Beginning January 1, 1990, all automatic annual | 24 | | increases payable
under this Section shall be calculated as a | 25 | | percentage of the total annuity
payable at the time of the | 26 | | increase, including previous increases granted
under this |
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| 1 | | Article.
| 2 | | (Source: P.A. 96-889, eff. 1-1-11; 96-1490, eff. 1-1-11.)
| 3 | | (40 ILCS 5/2-121.1) (from Ch. 108 1/2, par. 2-121.1)
| 4 | | Sec. 2-121.1. Survivor's annuity - amount.
| 5 | | (a) A surviving spouse shall be entitled to 66 2/3% of the | 6 | | amount of
retirement annuity to which the participant or | 7 | | annuitant was entitled on
the date of death, without regard to | 8 | | whether the participant had attained
age 55 prior to his or her | 9 | | death, subject to a minimum payment of 10% of
salary. If a | 10 | | surviving spouse, regardless of age, has in his or her care
at | 11 | | the date of death any eligible child or children of the | 12 | | participant, the
survivor's annuity shall be the greater of the | 13 | | following: (1) 66 2/3% of
the amount of retirement annuity to | 14 | | which the participant or annuitant was
entitled on the date of | 15 | | death, or (2) 30% of the participant's salary
increased by 10% | 16 | | of salary on account of each such child, subject to a
total | 17 | | payment for the surviving spouse and children of 50% of salary. | 18 | | If
eligible children survive but there is no surviving spouse, | 19 | | or if the
surviving spouse dies or becomes disqualified by
| 20 | | remarriage while eligible children survive, each
eligible | 21 | | child shall be entitled to an annuity of 20% of salary, subject
| 22 | | to a maximum total payment for all such children of 50% of | 23 | | salary.
| 24 | | However, the survivor's annuity payable under this Section | 25 | | shall not be
less than 100% of the amount of retirement annuity |
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| 1 | | to which the participant
or annuitant was entitled on the date | 2 | | of death, if he or she is survived by
a dependent disabled | 3 | | child.
| 4 | | The salary to be used for determining these benefits shall | 5 | | be the
salary used for determining the amount of retirement | 6 | | annuity as provided
in Section 2-119.01.
| 7 | | (b) Upon the death of a participant after the termination | 8 | | of service or
upon death of an annuitant, the maximum total | 9 | | payment to a surviving spouse
and eligible children, or to | 10 | | eligible children alone if there is no surviving
spouse, shall | 11 | | be 75% of the retirement annuity to which the participant
or | 12 | | annuitant was entitled, unless there is a dependent disabled | 13 | | child
among the survivors.
| 14 | | (c) When a child ceases to be an eligible child, the | 15 | | annuity to that
child, or to the surviving spouse on account of | 16 | | that child, shall thereupon
cease, and the annuity payable to | 17 | | the surviving spouse or other eligible
children shall be | 18 | | recalculated if necessary.
| 19 | | Upon the ineligibility of the last eligible child, the | 20 | | annuity shall
immediately revert to the amount payable upon | 21 | | death of a participant or
annuitant who leaves no eligible | 22 | | children. If the surviving spouse is then
under age 50, the | 23 | | annuity as revised shall be deferred until the attainment
of | 24 | | age 50.
| 25 | | (d) Beginning January 1, 1990, every survivor's annuity | 26 | | shall be increased
(1) on each January 1 occurring on or after |
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| 1 | | the commencement of the annuity if
the deceased member died | 2 | | while receiving a retirement annuity, or (2) in
other cases, on | 3 | | each January 1 occurring on or after the first anniversary
of | 4 | | the commencement of the annuity, by an amount equal to 3% of | 5 | | the current
amount of the annuity, including any previous | 6 | | increases under this Article.
Such increases shall apply | 7 | | without regard to whether the deceased member
was in service on | 8 | | or after the effective date of this amendatory Act of
1991, but | 9 | | shall not accrue for any period prior to January 1, 1990.
| 10 | | (d-5) Notwithstanding any other provision of this Article, | 11 | | the initial survivor's annuity of a survivor of a participant | 12 | | who first becomes a participant on or after January 1, 2011 | 13 | | (the effective date of Public Act 96-889) shall be in the | 14 | | amount of 66 2/3% of the amount of the retirement annuity to | 15 | | which the participant or annuitant was entitled on the date of | 16 | | death and shall be increased (1) on each January 1 occurring on | 17 | | or after the commencement of the annuity if
the deceased member | 18 | | died while receiving a retirement annuity or (2) in
other | 19 | | cases, on each January 1 occurring on or after the first | 20 | | anniversary
of the commencement of the annuity, by an amount | 21 | | equal to 3% or the annual unadjusted percentage increase in the | 22 | | Consumer Price Index for All Urban Consumers as determined by | 23 | | the Public Pension Division of the Department of Insurance | 24 | | under subsection (a) of Section 2-108.1, whichever is less, of | 25 | | the survivor's annuity then being paid. | 26 | | (d-10) Notwithstanding any other provision of this |
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| 1 | | Article, the initial survivor's annuity of a survivor of (i) a | 2 | | participant who is a participant on the effective date of this | 3 | | amendatory Act of the 97th General Assembly and who irrevocably | 4 | | elects the reduced benefits under this subsection (d-10) and | 5 | | (ii) a participant who first becomes a participant after the | 6 | | effective date of this amendatory Act of the 97th General | 7 | | Assembly shall be in the amount of 66 2/3% of the amount of the | 8 | | retirement annuity to which the participant or annuitant was | 9 | | entitled on the date of death and shall be increased (1) on | 10 | | each January 1 occurring on or after the commencement of the | 11 | | annuity if
the deceased member died while receiving a | 12 | | retirement annuity or (2) in
other cases, on each January 1 | 13 | | occurring on or after the first anniversary
of the commencement | 14 | | of the annuity, by an amount equal to 3% or one-half the annual | 15 | | unadjusted percentage increase (but not less than zero) in the | 16 | | Consumer Price Index for All Urban Consumers as determined by | 17 | | the Public Pension Division of the Department of Insurance | 18 | | under subsection (a) of Section 2-108.1, whichever is less, of | 19 | | the originally granted survivor's annuity. | 20 | | (e) Notwithstanding any other provision of this Article, | 21 | | beginning
January 1, 1990, the minimum survivor's annuity | 22 | | payable to any person who
is entitled to receive a survivor's | 23 | | annuity under this Article shall be
$300 per month, without | 24 | | regard to whether or not the deceased participant
was in | 25 | | service on the effective date of this amendatory Act of 1989.
| 26 | | (f) In the case of a proportional survivor's annuity |
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| 1 | | arising under
the Retirement Systems Reciprocal Act where the | 2 | | amount payable by the
System on January 1, 1993 is less than | 3 | | $300 per month, the amount payable
by the System shall be | 4 | | increased beginning on that date by a monthly amount
equal to | 5 | | $2 for each full year that has expired since the annuity began.
| 6 | | (Source: P.A. 96-889, eff. 1-1-11; 96-1490, eff. 1-1-11.)
| 7 | | (40 ILCS 5/18-125) (from Ch. 108 1/2, par. 18-125)
| 8 | | Sec. 18-125. Retirement annuity amount.
| 9 | | (a) The annual retirement annuity for a participant who | 10 | | terminated
service as a judge prior to July 1, 1971 shall be | 11 | | based on the law in
effect at the time of termination of | 12 | | service.
| 13 | | (b) Except as provided in subsection (b-5), effective July | 14 | | 1, 1971, the retirement annuity for any participant
in service | 15 | | on or after such date shall be 3 1/2% of final average salary,
| 16 | | as defined in this Section, for each of the first 10 years of | 17 | | service, and
5% of such final average salary for each year of | 18 | | service on excess of 10.
| 19 | | For purposes of this Section, final average salary for a | 20 | | participant who first serves as a judge before August 10, 2009 | 21 | | (the effective date of Public Act 96-207) shall be:
| 22 | | (1) the average salary for the last 4 years of credited | 23 | | service as a
judge for a participant who terminates service | 24 | | before July 1, 1975.
| 25 | | (2) for a participant who terminates service after June |
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| 1 | | 30, 1975
and before July 1, 1982, the salary on the last | 2 | | day of employment as a judge.
| 3 | | (3) for any participant who terminates service after | 4 | | June 30, 1982 and
before January 1, 1990, the average | 5 | | salary for the final year of service as
a judge.
| 6 | | (4) for a participant who terminates service on or | 7 | | after January 1,
1990 but before the effective date of this | 8 | | amendatory Act of 1995, the
salary on the last day of | 9 | | employment as a judge.
| 10 | | (5) for a participant who terminates service on or | 11 | | after the effective
date of this amendatory Act of 1995, | 12 | | the salary on the last day of employment
as a judge, or the | 13 | | highest salary received by the participant for employment | 14 | | as
a judge in a position held by the participant for at | 15 | | least 4 consecutive years,
whichever is greater.
| 16 | | However, in the case of a participant who elects to | 17 | | discontinue contributions
as provided in subdivision (a)(2) of | 18 | | Section 18-133, the time of such
election shall be considered | 19 | | the last day of employment in the determination
of final | 20 | | average salary under this subsection.
| 21 | | For a participant who first serves as a judge on or after | 22 | | August 10, 2009 (the effective date of Public Act 96-207) and | 23 | | before January 1, 2011 (the effective date of Public Act | 24 | | 96-889), final average salary shall be the average monthly | 25 | | salary obtained by dividing the total salary of the participant | 26 | | during the period of: (1) the 48 consecutive months of service |
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| 1 | | within the last 120 months of service in which the total | 2 | | compensation was the highest, or (2) the total period of | 3 | | service, if less than 48 months, by the number of months of | 4 | | service in that period. | 5 | | The maximum retirement annuity for any participant shall be | 6 | | 85% of final
average salary.
| 7 | | (b-5) Notwithstanding any other provision of this Article, | 8 | | for a participant who first serves as a judge on or after | 9 | | January 1, 2011 (the effective date of Public Act 96-889), the | 10 | | annual
retirement annuity is 3% of the
participant's final | 11 | | average salary for each year of service. The maximum retirement
| 12 | | annuity payable shall be 60% of the participant's final average | 13 | | salary. | 14 | | For a participant who first serves as a judge on or after | 15 | | January 1, 2011 (the effective date of Public Act 96-889), | 16 | | final average salary shall be the average monthly salary | 17 | | obtained by dividing the total salary of the judge during the | 18 | | 96 consecutive months of service within the last 120 months of | 19 | | service in which the total salary was the highest by the number | 20 | | of months of service in that period; however, beginning January | 21 | | 1, 2011, the annual salary may not exceed $106,800, except that | 22 | | that amount shall annually thereafter be increased by the | 23 | | lesser of (i) 3% of that amount, including all previous | 24 | | adjustments, or (ii) the annual unadjusted percentage increase | 25 | | (but not less than zero) in the consumer price index-u
for the | 26 | | 12 months ending with the September preceding each November 1. |
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| 1 | | For a participant who serves as a judge on the effective | 2 | | date of this amendatory Act of the 97th General Assembly and | 3 | | who irrevocably elects the reduced benefits under this | 4 | | paragraph and for a participant who first serves as a judge | 5 | | after the effective date of this amendatory Act of the 97th | 6 | | General Assembly, final average salary shall be the average | 7 | | monthly salary obtained by dividing the total salary of the | 8 | | judge during the 96 consecutive months of service within the | 9 | | last 120 months of service in which the total salary was the | 10 | | highest by the number of months of service in that period; | 11 | | however, beginning on the effective date of this amendatory Act | 12 | | of the 97th General Assembly, the annual salary may not, for | 13 | | affected judges, exceed $106,800, except that that amount shall | 14 | | annually thereafter be increased by the lesser of (1) 3% of | 15 | | that amount, including all previous adjustments, or (2) | 16 | | one-half the annual unadjusted percentage increase (but not | 17 | | less than zero) in the consumer price index-u
for the 12 months | 18 | | ending with the September preceding each November 1. | 19 | | "Consumer price index-u" means
the index published by the | 20 | | Bureau of Labor Statistics of the United States
Department of | 21 | | Labor that measures the average change in prices of goods and
| 22 | | services purchased by all urban consumers, United States city | 23 | | average, all
items, 1982-84 = 100. The new amount resulting | 24 | | from each annual adjustment
shall be determined by the Public | 25 | | Pension Division of the Department of Insurance and made | 26 | | available to the Board by November 1st of each year. |
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| 1 | | (c) The retirement annuity for a participant who retires | 2 | | prior to age 60
with less than 28 years of service in the | 3 | | System shall be reduced 1/2 of 1%
for each month that the | 4 | | participant's age is under 60 years at the time the
annuity | 5 | | commences. However, for a participant who retires on or after | 6 | | the
effective date of this amendatory Act of the 91st General | 7 | | Assembly, the
percentage reduction in retirement annuity | 8 | | imposed under this subsection shall
be reduced by 5/12 of 1% | 9 | | for every month of service in this System in excess of
20 | 10 | | years, and therefore a participant with at least 26 years of | 11 | | service in this
System may retire at age 55 without any | 12 | | reduction in annuity.
| 13 | | The reduction in retirement annuity imposed by this | 14 | | subsection shall not
apply in the case of retirement on account | 15 | | of disability.
| 16 | | (d) Notwithstanding any other provision of this Article, | 17 | | for a participant who first serves as a judge on or after | 18 | | January 1, 2011 (the effective date of Public Act 96-889) and | 19 | | who is retiring after attaining age 62, the retirement annuity | 20 | | shall be reduced by 1/2
of 1% for each month that the | 21 | | participant's age is under age 67 at the time the annuity | 22 | | commences. | 23 | | (Source: P.A. 96-207, eff. 8-10-09; 96-889, eff. 1-1-11; | 24 | | 96-1000, eff. 7-2-10; 96-1490, eff. 1-1-11.)
| 25 | | (40 ILCS 5/18-125.1) (from Ch. 108 1/2, par. 18-125.1)
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| 1 | | Sec. 18-125.1. Automatic increase in retirement annuity. A | 2 | | participant who
retires from service after June 30, 1969, | 3 | | shall, in January of the year next
following the year in which | 4 | | the first anniversary of retirement occurs, and in
January of | 5 | | each year thereafter, have the amount of his or her originally
| 6 | | granted retirement annuity increased as follows: for each year | 7 | | up to and
including 1971, 1 1/2%; for each year from 1972 | 8 | | through 1979 inclusive, 2%; and
for 1980 and each year | 9 | | thereafter, 3%.
| 10 | | Notwithstanding any other provision of this Article, a | 11 | | retirement annuity for a participant who first serves as a | 12 | | judge on or after January 1, 2011 (the effective date of Public | 13 | | Act 96-889) shall be increased in January of the year next
| 14 | | following the year in which the first anniversary of retirement | 15 | | occurs, but in no event prior to age 67, and in
January of each | 16 | | year thereafter, by an amount equal to 3% or the annual | 17 | | percentage increase in the consumer price index-u as determined | 18 | | by the Public Pension Division of the Department of Insurance | 19 | | under subsection (b-5) of Section 18-125, whichever is less, of | 20 | | the retirement annuity then being paid. | 21 | | Notwithstanding any other provision of this Article, a | 22 | | retirement annuity for a participant who serves as a judge on | 23 | | the effective date of this amendatory Act of the 97th General | 24 | | Assembly and who irrevocably elects the reduced benefits under | 25 | | this paragraph and for a participant who first serves as a | 26 | | judge after the effective date of this amendatory Act of the |
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| 1 | | 97th General Assembly shall be increased in January of the year | 2 | | next
following the year in which the first anniversary of | 3 | | retirement occurs, but in no event prior to age 67, and in
| 4 | | January of each year thereafter, by an amount equal to 3% or | 5 | | one-half the annual unadjusted percentage increase (but not | 6 | | less than zero) in the consumer price index-u as determined by | 7 | | the Public Pension Division of the Department of Insurance | 8 | | under subsection (b-5) of Section 18-125, whichever is less, of | 9 | | the originally granted retirement annuity. | 10 | | This Section is not applicable to a participant who retires | 11 | | before he
or she has made contributions at the rate prescribed | 12 | | in Section 18-133 for
automatic increases for not less than the | 13 | | equivalent of one full year, unless
such a participant arranges | 14 | | to pay the system the amount required to bring
the total | 15 | | contributions for the automatic increase to the equivalent of
| 16 | | one year's contribution based upon his or her last year's | 17 | | salary.
| 18 | | This Section is applicable to all participants in service | 19 | | after June 30,
1969 unless a participant has elected, prior to | 20 | | September 1,
1969, in a written direction filed with the board | 21 | | not to be subject to
the provisions of this Section. Any | 22 | | participant in service on or after
July 1, 1992 shall have the | 23 | | option of electing prior to April 1, 1993,
in a written | 24 | | direction filed with the board, to be covered by the provisions | 25 | | of
the 1969 amendatory Act. Such participant shall be required | 26 | | to make the
aforesaid additional contributions with compound |
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| 1 | | interest at 4% per annum.
| 2 | | Any participant who has become eligible to receive the | 3 | | maximum rate of
annuity and who resumes service as a judge | 4 | | after receiving a retirement
annuity under this Article shall | 5 | | have the amount of his or her
retirement annuity increased by | 6 | | 3% of the originally granted annuity amount
for each year of | 7 | | such resumed service, beginning in January of the year
next | 8 | | following the date of such resumed service, upon subsequent
| 9 | | termination of such resumed service.
| 10 | | Beginning January 1, 1990, all automatic annual increases | 11 | | payable
under this Section shall be calculated as a percentage | 12 | | of the total annuity
payable at the time of the increase, | 13 | | including previous increases granted
under this Article.
| 14 | | (Source: P.A. 96-889, eff. 1-1-11; 96-1490, eff. 1-1-11.)
| 15 | | (40 ILCS 5/18-128.01) (from Ch. 108 1/2, par. 18-128.01)
| 16 | | Sec. 18-128.01. Amount of survivor's annuity.
| 17 | | (a) Upon the death of
an annuitant, his or her surviving | 18 | | spouse shall be entitled to a survivor's
annuity of 66 2/3% of | 19 | | the annuity the annuitant was receiving immediately
prior to | 20 | | his or her death, inclusive of annual increases in the | 21 | | retirement
annuity to the date of death.
| 22 | | (b) Upon the death of an active participant, his or her | 23 | | surviving spouse
shall receive a survivor's annuity of 66 2/3% | 24 | | of the annuity earned by the
participant as of the date of his | 25 | | or her death, determined without regard
to whether the |
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| 1 | | participant had attained age 60 as of that time, or 7 1/2%
of | 2 | | the last salary of the decedent, whichever is greater.
| 3 | | (c) Upon the death of a participant who had terminated | 4 | | service with at
least 10 years of service, his or her surviving | 5 | | spouse shall be entitled
to a survivor's annuity of 66 2/3% of | 6 | | the annuity earned by the deceased
participant at the date of | 7 | | death.
| 8 | | (d) Upon the death of an annuitant, active participant, or | 9 | | participant
who had terminated service with at least 10 years | 10 | | of service, each surviving
child under the age of 18 or | 11 | | disabled as defined in Section 18-128 shall
be entitled to a | 12 | | child's annuity in an amount equal to 5% of the decedent's
| 13 | | final salary, not to exceed in total for all such children the | 14 | | greater of
20% of the decedent's last salary or 66 2/3% of the | 15 | | annuity received or
earned by the decedent as provided under | 16 | | subsections (a) and (b) of this
Section. This child's annuity | 17 | | shall be paid whether or not a survivor's
annuity was elected | 18 | | under Section 18-123.
| 19 | | (e) The changes made in the survivor's annuity provisions | 20 | | by Public Act
82-306 shall apply to the survivors of a deceased | 21 | | participant or annuitant
whose death occurs on or after August | 22 | | 21, 1981.
| 23 | | (f) Beginning January 1, 1990, every survivor's annuity | 24 | | shall be
increased
(1) on each January 1 occurring on or after | 25 | | the commencement of the annuity if
the deceased member died | 26 | | while receiving a retirement annuity, or (2) in other cases,
on |
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| 1 | | each January 1 occurring on or after the first anniversary of
| 2 | | the commencement of the annuity, by an amount equal to 3% of | 3 | | the current
amount of the annuity, including any previous | 4 | | increases under this Article.
Such increases shall apply | 5 | | without regard to whether the deceased member
was in service on | 6 | | or after the effective date of this amendatory Act of
1991, but | 7 | | shall not accrue for any period prior to January 1, 1990.
| 8 | | (g) Notwithstanding any other provision of this Article, | 9 | | the initial survivor's annuity for a survivor of a participant | 10 | | who first serves as a judge after January 1, 2011 (the | 11 | | effective date of Public Act 96-889) shall be in the amount of | 12 | | 66 2/3% of the annuity received or earned by the decedent, and | 13 | | shall be increased (1) on each January 1 occurring on or after | 14 | | the commencement of the annuity if
the deceased participant | 15 | | died while receiving a retirement annuity, or (2) in other | 16 | | cases,
on each January 1 occurring on or after the first | 17 | | anniversary of
the commencement of the annuity, but in no event | 18 | | prior to age 67, by an amount equal to 3% or the annual | 19 | | unadjusted percentage increase in the consumer price index-u as | 20 | | determined by the Public Pension Division of the Department of | 21 | | Insurance under subsection (b-5) of Section 18-125, whichever | 22 | | is less, of the survivor's annuity then being paid. | 23 | | (h) Notwithstanding any other provision of this Article, | 24 | | the initial survivor's annuity for (i) a participant who serves | 25 | | as a judge on the effective date of this amendatory Act of the | 26 | | 97th General Assembly and who irrevocably elects the reduced |
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| 1 | | benefits under this subsection (h) and (ii) a survivor of a | 2 | | participant who first serves as a judge after the effective | 3 | | date of this amendatory Act of the 97th General Assembly shall | 4 | | be in the amount of 66 2/3% of the annuity received or earned | 5 | | by the decedent, and shall be increased (1) on each January 1 | 6 | | occurring on or after the commencement of the annuity if
the | 7 | | deceased participant died while receiving a retirement | 8 | | annuity, or (2) in other cases,
on each January 1 occurring on | 9 | | or after the first anniversary of
the commencement of the | 10 | | annuity, but in no event prior to age 67, by an amount equal to | 11 | | 3% or one-half the annual unadjusted percentage increase (but | 12 | | not less than zero) in the consumer price index-u as determined | 13 | | by the Public Pension Division of the Department of Insurance | 14 | | under subsection (b-5) of Section 18-125, whichever is less, of | 15 | | the originally granted survivor's annuity. | 16 | | (Source: P.A. 96-889, eff. 1-1-11; 96-1490, eff. 1-1-11.)".
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