State of Illinois
92nd General Assembly
Legislation

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92_SB0411

 
                                               LRB9205294EGfg

 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  of
14    such  benefit  on January 1, 2002 1991 or the January 1 on or
15    next following the fourth anniversary of the granting 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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