Illinois General Assembly - Full Text of Public Act 096-0207
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Public Act 096-0207


 

Public Act 0207 96TH GENERAL ASSEMBLY



 


 
Public Act 096-0207
 
SB0369 Enrolled LRB096 06401 RCE 16485 b

    AN ACT concerning State government.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The Illinois Pension Code is amended by changing
Sections 2-108.1 and 18-125 as follows:
 
    (40 ILCS 5/2-108.1)  (from Ch. 108 1/2, par. 2-108.1)
    Sec. 2-108.1. Highest salary for annuity purposes.
    (a) "Highest salary for annuity purposes" means whichever
of the following is applicable to the participant:
    For a participant who first becomes a participant of this
System before the effective date of this amendatory Act of the
96th General Assembly:
        (1) For a participant who is a member of the General
    Assembly on his or her last day of service: the highest
    salary that is prescribed by law, on the participant's last
    day of service, for a member of the General Assembly who is
    not an officer; plus, if the participant was elected or
    appointed to serve as an officer of the General Assembly
    for 2 or more years and has made contributions as required
    under subsection (d) of Section 2-126, the highest
    additional amount of compensation prescribed by law, at the
    time of the participant's service as an officer, for
    members of the General Assembly who serve in that office.
            (2) For a participant who holds one of the State
    executive offices specified in Section 2-105 on his or her
    last day of service: the highest salary prescribed by law
    for service in that office on the participant's last day of
    service.
        (3) For a participant who is Clerk or Assistant Clerk
    of the House of Representatives or Secretary or Assistant
    Secretary of the Senate on his or her last day of service:
    the salary received for service in that capacity on the
    last day of service, but not to exceed the highest salary
    (including additional compensation for service as an
    officer) that is prescribed by law on the participant's
    last day of service for the highest paid officer of the
    General Assembly.
        (4) For a participant who is a continuing participant
    under Section 2-117.1 on his or her last day of service:
    the salary received for service in that capacity on the
    last day of service, but not to exceed the highest salary
    (including additional compensation for service as an
    officer) that is prescribed by law on the participant's
    last day of service for the highest paid officer of the
    General Assembly.
    For a participant who first becomes a participant of this
System on or after the effective date of this amendatory Act of
the 96th General Assembly, the average monthly salary obtained
by dividing the total salary of the participant during the
period of: (1) the 48 consecutive months of service within the
last 120 months of service in which the total compensation was
the highest, or (2) the total period of service, if less than
48 months, by the number of months of service in that period.
    (b) The earnings limitations of subsection (a) apply to
earnings under any other participating system under the
Retirement Systems Reciprocal Act that are considered in
calculating a proportional annuity under this Article, except
in the case of a person who first became a member of this
System before August 22, 1994.
    (c) In calculating the subsection (a) earnings limitation
to be applied to earnings under any other participating system
under the Retirement Systems Reciprocal Act for the purpose of
calculating a proportional annuity under this Article, the
participant's last day of service shall be deemed to mean the
last day of service in any participating system from which the
person has applied for a proportional annuity under the
Retirement Systems Reciprocal Act.
(Source: P.A. 90-655, eff. 7-30-98.)
 
    (40 ILCS 5/18-125)  (from Ch. 108 1/2, par. 18-125)
    Sec. 18-125. Retirement annuity amount.
    (a) The annual retirement annuity for a participant who
terminated service as a judge prior to July 1, 1971 shall be
based on the law in effect at the time of termination of
service.
    (b) Effective July 1, 1971, the retirement annuity for any
participant in service on or after such date shall be 3 1/2% of
final average salary, as defined in this Section, for each of
the first 10 years of service, and 5% of such final average
salary for each year of service on excess of 10.
    For purposes of this Section, final average salary for a
participant who first serves a judge before the effective date
of this amendatory Act of the 96th General Assembly shall be:
        (1) the average salary for the last 4 years of credited
    service as a judge for a participant who terminates service
    before July 1, 1975.
        (2) for a participant who terminates service after June
    30, 1975 and before July 1, 1982, the salary on the last
    day of employment as a judge.
        (3) for any participant who terminates service after
    June 30, 1982 and before January 1, 1990, the average
    salary for the final year of service as a judge.
        (4) for a participant who terminates service on or
    after January 1, 1990 but before the effective date of this
    amendatory Act of 1995, the salary on the last day of
    employment as a judge.
        (5) for a participant who terminates service on or
    after the effective date of this amendatory Act of 1995,
    the salary on the last day of employment as a judge, or the
    highest salary received by the participant for employment
    as a judge in a position held by the participant for at
    least 4 consecutive years, whichever is greater.
    However, in the case of a participant who elects to
discontinue contributions as provided in subdivision (a)(2) of
Section 18-133, the time of such election shall be considered
the last day of employment in the determination of final
average salary under this subsection.
    For a participant who first serves a judge on or after the
effective date of this amendatory Act of the 96th General
Assembly, final average salary shall be the average monthly
salary obtained by dividing the total salary of the participant
during the period of: (1) the 48 consecutive months of service
within the last 120 months of service in which the total
compensation was the highest, or (2) the total period of
service, if less than 48 months, by the number of months of
service in that period.
    The maximum retirement annuity for any participant shall be
85% of final average salary.
    (c) The retirement annuity for a participant who retires
prior to age 60 with less than 28 years of service in the
System shall be reduced 1/2 of 1% for each month that the
participant's age is under 60 years at the time the annuity
commences. However, for a participant who retires on or after
the effective date of this amendatory Act of the 91st General
Assembly, the percentage reduction in retirement annuity
imposed under this subsection shall be reduced by 5/12 of 1%
for every month of service in this System in excess of 20
years, and therefore a participant with at least 26 years of
service in this System may retire at age 55 without any
reduction in annuity.
    The reduction in retirement annuity imposed by this
subsection shall not apply in the case of retirement on account
of disability.
(Source: P.A. 91-653, eff. 12-10-99.)
 
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 8/10/2009