093_HB0522

 
                                     LRB093 06102 LRD 06207 b

 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 7-144.3 as follows:

 6        (40 ILCS 5/7-144.3) (from Ch. 108 1/2, par. 7-144.3)
 7        Sec. 7-144.3. Supplemental benefit payment.
 8        (a)  A  supplemental benefit payment, consisting of a sum
 9    calculated as provided in subsection (c), shall be payable to
10    each  eligible  retirement  annuitant  and  surviving  spouse
11    annuitant on July 1, 1993, and on  each  subsequent  July  1;
12    except   that   if   this  Code  is  amended  to  change  the
13    uncompounded annual increase in retirement annuity granted in
14    subsection (c)  of  Section  7-142  to  a  compounded  annual
15    increase,  no  supplemental  benefit shall be paid under this
16    Section on any July 1 occurring on  or  after  the  effective
17    date  of  that  amendment.   The  amount  of the supplemental
18    benefit payment, and a person's eligibility  to  receive  the
19    supplemental  benefit payment, shall be redetermined for each
20    year in which the benefit is payable.
21        (b)  To be eligible to  receive  a  supplemental  benefit
22    payment,  a  person  must be entitled to receive a retirement
23    annuity or surviving spouse annuity from the Fund on the July
24    1 supplemental benefit  payment  date,  and  must  have  been
25    receiving   that   annuity  during  each  of  the  12  months
26    immediately preceding that date;   except  that  a  surviving
27    spouse  annuitant  whose  surviving spouse annuity began less
28    than one year before the July 1 supplemental benefit  payment
29    date  shall  be  eligible  if  the deceased spouse received a
30    retirement annuity from the Fund during the period  from  the
31    previous  July  1  until  the  start  of the surviving spouse
 
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 1    annuity.
 2        (c)  The amount of the supplemental benefit payment shall
 3    be determined by the Board as follows:
 4             (1)  The total amount available for the  payment  of
 5        supplemental  benefit  payments under this Section in any
 6        year before the year 2004 shall  be  0.62%  of  the  last
 7        annual   participating   payroll  for  all  participating
 8        municipalities and participating instrumentalities in the
 9        Fund, as determined and  reconciled  by  the  Fund.   The
10        total  amount  available  for the payment of supplemental
11        benefit payments under this Section in the year 2004  and
12        in each year thereafter shall be 0.80% of the last annual
13        participating     payroll     for    all    participating
14        municipalities and participating instrumentalities in the
15        Fund, as determined and reconciled by the Fund.
16             (2)  The amount of the supplemental benefit  payment
17        to  each  eligible person shall be a portion of the total
18        amount available  under  paragraph  (1),  equal  to  that
19        portion  of  the  total amount payable by the Fund to all
20        eligible persons  for  retirement  and  surviving  spouse
21        annuities  in  the June preceding the July 1 supplemental
22        benefit payment date, that is  payable  to  the  eligible
23        person in that month.
24             (3)  Notwithstanding  paragraph  (2),  the amount of
25        any supplemental benefit payment  paid  to  an  annuitant
26        under   this   Section   shall  not  exceed  any  benefit
27        limitations established by  the  federal  government  for
28        qualified public pension plans.
29    (Source: P.A. 87-850.)

30        Section  90.  The State Mandates Act is amended by adding
31    Section 8.27 as follows:

32        (30 ILCS 805/8.27 new)
 
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 1        Sec. 8.27. Exempt mandate.   Notwithstanding  Sections  6
 2    and  8 of this Act, no reimbursement by the State is required
 3    for  the  implementation  of  any  mandate  created  by  this
 4    amendatory Act of the 93rd General Assembly.

 5        Section 99.  Effective date.  This Act takes effect  upon
 6    becoming law.