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92_HB2368 LRB9205284EGfg 1 AN ACT in relation to public employee benefits. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Illinois Pension Code is amended by 5 changing Section 15-153.3 as follows: 6 (40 ILCS 5/15-153.3) (from Ch. 108 1/2, par. 15-153.3) 7 Sec. 15-153.3. Automatic increase in disability benefit. 8 Each disability benefit payable under Section 15-150 and 9 calculated under Section 15-153 or 15-153.2 that has not yet 10 received an initial increase under this Section shall be 11 increased by 0.25% of the monthly disability benefit 12 multiplied by the number of full months that have elapsed 13 since the benefit began
7% of the original fixed amount of14 such benefiton January 1, 2002 1991or the January 1 on or15 next following the fourth anniversary of thegranting of the 16 benefit, whichever occurs later. 17 On each January 1 following the initial 7%increase under 18 this Section, the disability benefit shall be increased by 3% 19 of the current amount of the benefit, including prior 20 increases under this Article. 21 The changes made to this Section by this amendatory Act 22 of the 92nd General Assembly apply without regard to whether 23 the benefit recipient was in service on ar after the 24 effective date of this amendatory Act. 25 (Source: P.A. 90-766, eff. 8-14-98.) 26 Section 99. Effective date. This Act takes effect upon 27 becoming law.
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