State of Illinois
91st General Assembly
Legislation

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91_HB1257

 
                                               LRB9101884EGfg

 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             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-                LRB9101884EGfg
 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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