State of Illinois
91st General Assembly
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91_HB1260

 
                                               LRB9101894EGfg

 1        AN ACT to amend the Illinois  Pension  Code  by  changing
 2    Sections 15-136.3 and 15-146.

 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 Sections 15-136.3 and 15-146 as follows:

 7        (40 ILCS 5/15-136.3)
 8        Sec. 15-136.3. Minimum retirement annuity.
 9        (a)  Beginning   January  1,  1997,  any  person  who  is
10    receiving a monthly retirement  annuity  under  this  Article
11    which,  after  inclusion  of  (1)  all one-time and automatic
12    annual increases to which the person  is  entitled,  (2)  any
13    supplemental  annuity payable under Section 15-136.1, and (3)
14    any amount deducted under Section 15-138 or 15-140 to provide
15    a reversionary annuity, is  less  than  the  minimum  monthly
16    retirement benefit amount specified in subsection (b) of this
17    Section,  shall be entitled to a monthly supplemental payment
18    equal to the difference.
19        (b)  For purposes of the calculation in  subsection  (a),
20    the  minimum  monthly retirement benefit amount is the sum of
21    $25 for each year of service credit, up to a  maximum  of  30
22    years  of  service.   This  $25  shall  be increased by 3% on
23    January 1, 2000 and by 3%  of  the  current  amount  on  each
24    January 1 thereafter.
25        (c)  The  change  to this Section made by this amendatory
26    Act of the 91st  General  Assembly  applies  to  all  persons
27    receiving  a  retirement  annuity under this Article, without
28    regard to whether or not employment terminated prior  to  the
29    effective date of this amendatory Act Section.
30    (Source: P.A. 89-616, eff. 8-9-96.)
 
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 1        (40 ILCS 5/15-146) (from Ch. 108 1/2, par. 15-146)
 2        Sec.  15-146.   Survivors  insurance  benefits  - Minimum
 3    amounts.
 4        (a)  The  minimum  total  survivors  annuity  payable  on
 5    account of the death of a participant shall  be  50%  of  the
 6    retirement  annuity which would have been provided under Rule
 7    1, Rule 2, or Rule 3 of Section 15-136 upon the participant's
 8    attainment of the minimum age at which the penalty for  early
 9    retirement  would  not  be  applicable  or  the  date  of the
10    participant's death, whichever is  later,  on  the  basis  of
11    credits earned prior to the time of death.
12        (b)  The  minimum  total  survivors  annuity  payable  on
13    account  of  the  death  of  an annuitant shall be 50% of the
14    retirement annuity which is payable under Section  15-136  at
15    the time of death or 50% of the disability retirement annuity
16    payable   under  Section  15-153.2.  This  minimum  survivors
17    annuity shall apply to each  participant  and  annuitant  who
18    dies  after  September  16,  1979,  whether or not his or her
19    employee status terminates before or after that date.
20        (c)  If an annuitant has elected a reversionary  annuity,
21    the  retirement  annuity  referred to in this Section is that
22    which would have been payable  had  such  election  not  been
23    filed.
24        (d)  Beginning   January  1,  2000,  any  person  who  is
25    receiving a survivors annuity under this Article which, after
26    inclusion of all one-time and automatic annual  increases  to
27    which the person is entitled, is less than the sum of $25 for
28    each  year  (up  to  a  maximum  of 30 years) of the deceased
29    member's service credit,  shall  be  entitled  to  a  monthly
30    supplemental payment equal to the difference.  This $25 shall
31    be  increased  by  3%  on  January  1,  2001 and by 3% of the
32    current amount on each January 1 thereafter.
33        If 2 or more persons are  receiving  survivors  annuities
34    based  on  the  same  deceased member, the calculation of the
 
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 1    supplemental payment under this subsection shall be based  on
 2    the  total  of  those  annuities  and  divided pro rata.  The
 3    supplemental payment is not subject to any limitation on  the
 4    maximum  amount  of  the annuity and shall not be included in
 5    the  calculation  of  any  automatic  annual  increase  under
 6    Section 15-145.
 7    (Source: P.A. 90-448, eff. 8-16-97; 90-766, eff. 8-14-98.)

 8        Section 99. Effective date.  This Act takes  effect  upon
 9    becoming law.

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