State of Illinois
91st General Assembly
Legislation

   [ Search ]   [ Legislation ]
[ Home ]   [ Back ]   [ Bottom ]



91_SB0299

 
                                               LRB9101892EGfg

 1        AN ACT to amend the Illinois  Pension  Code  by  changing
 2    Section 15-153.3.

 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 15-153.3 as follows:

 7        (40 ILCS 5/15-153.3) (from Ch. 108 1/2, par. 15-153.3)
 8        Sec.  15-153.3. Automatic increase in disability benefit.
 9    Each disability benefit  payable  under  Section  15-150  and
10    calculated  under Section 15-153 or 15-153.2 that has not yet
11    received an initial increase  under  this  Section  shall  be
12    increased   by   0.25%  of  the  monthly  disability  benefit
13    multiplied by the number of full  months  that  have  elapsed
14    since  the  benefit  began 7% of the original fixed amount of
15    such benefit on January 1, 2000 1991 or the January 1  on  or
16    next  following the fourth anniversary of the granting of the
17    benefit, whichever occurs later.
18        On each January 1 following the initial 7% increase under
19    this Section, the disability benefit shall be increased by 3%
20    of  the  current  amount  of  the  benefit,  including  prior
21    increases under this Article.
22        The changes made to this Section by this  amendatory  Act
23    of  the 91st General Assembly apply without regard to whether
24    the  benefit  recipient  was  in  service  on  ar  after  the
25    effective date of this amendatory Act.
26    (Source: P.A. 90-766, eff. 8-14-98.)

27        Section 99. Effective date.  This Act takes  effect  upon
28    becoming law.

[ Top ]