State of Illinois
90th General Assembly
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90_HB3905

      40 ILCS 5/15-135          from Ch. 108 1/2, par. 15-135
          Amends the State  Universities  Article  of  the  Pension
      Code.  Allows retirement at any age with 32 years of service,
      beginning in 1999, and with 30 years of service, beginning in
      2000.  Effective immediately.
                                                     LRB9013346EGfg
                                               LRB9013346EGfg
 1        AN  ACT  to  amend  the Illinois Pension Code by changing
 2    Section 15-135.
 3        Be it enacted by the People of  the  State  of  Illinois,
 4    represented in the General Assembly:
 5        Section  5.   The  Illinois  Pension  Code  is amended by
 6    changing Section 15-135 as follows:
 7        (40 ILCS 5/15-135) (from Ch. 108 1/2, par. 15-135)
 8        Sec. 15-135.  Retirement annuities - Conditions.
 9        (a)  A participant who retires in one  of  the  following
10    specified  years  with  the  specified  amount  of service is
11    entitled to  a  retirement  annuity  at  any  age  under  the
12    retirement program applicable to the participant:
13             35 years if retirement is in 1997 or before;
14             34 years if retirement is in 1998;
15             32 33 years if retirement is in 1999;
16             32 years if retirement is in 2000;
17             31 years if retirement is in 2001;
18             30 years if retirement is in 2002;
19             30 35 years if retirement is in 2000 2003 or later.
20        A  participant  with  8  or  more  years of service after
21    September 1, 1941, is entitled to a retirement annuity on  or
22    after attainment of age 55.
23        A  participant  with  at least 5 but less than 8 years of
24    service after September 1, 1941, is entitled to a  retirement
25    annuity on or after attainment of age 62.
26        A  participant  who  has  at least 25 years of service in
27    this system as a police officer or firefighter is entitled to
28    a retirement annuity on or after the attainment of age 50, if
29    Rule 4 of Section 15-136 is applicable to the participant.
30        (b)  The annuity payment period shall begin on  the  date
31    specified   by   the   participant   submitting   a   written
                            -2-                LRB9013346EGfg
 1    application,  which date shall not be prior to termination of
 2    employment or more than one year before  the  application  is
 3    received  by the board; however, if the participant is not an
 4    employee of an employer participating in this System or in  a
 5    participating system as defined in Article 20 of this Code on
 6    April 1 of the calendar year next following the calendar year
 7    in  which  the  participant  attains  age 70 1/2, the annuity
 8    payment period shall begin on that date regardless of whether
 9    an application has been filed.
10        (c)  An annuity is not payable  if  the  amount  provided
11    under Section 15-136 is less than $10 per month.
12    (Source: P.A. 90-65, eff. 7-7-97; 90-766, eff. 8-14-98.)
13        Section  99.  Effective date.  This Act takes effect upon
14    becoming law.

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