Rep. Deborah Conroy

Filed: 3/13/2014

 

 


 

 


 
09800HB3898ham001LRB098 15458 RPM 55462 a

1
AMENDMENT TO HOUSE BILL 3898

2    AMENDMENT NO. ______. Amend House Bill 3898 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Illinois Pension Code is amended by
5changing 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) Notwithstanding any other provision of this Code, no
9supplemental benefit payment shall be made under this Section
10after January 1, 2015. For the purposes of Section 1-103.1 of
11this Code, this termination of supplemental benefit payments
12applies to all present and future annuitants, without regard to
13employment on or after the effective date of this amendatory
14Act of the 98th General Assembly.
15    A supplemental benefit payment, consisting of a sum
16calculated as provided in subsection (c), shall be payable to

 

 

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1each eligible retirement annuitant and surviving spouse
2annuitant on July 1, 1993, and on each subsequent July 1;
3except that if this Code is amended to change the uncompounded
4annual increase in retirement annuity granted in subsection (c)
5of Section 7-142 to a compounded annual increase, no
6supplemental benefit shall be paid under this Section on any
7July 1 occurring on or after the effective date of that
8amendment. The amount of the supplemental benefit payment, and
9a person's eligibility to receive the supplemental benefit
10payment, shall be redetermined for each year in which the
11benefit is payable.
12    (b) To be eligible to receive a supplemental benefit
13payment, a person must be entitled to receive a retirement
14annuity or surviving spouse annuity from the Fund on the July 1
15supplemental benefit payment date, and must have been receiving
16that annuity during each of the 12 months immediately preceding
17that date; except that a surviving spouse annuitant whose
18surviving spouse annuity began less than one year before the
19July 1 supplemental benefit payment date shall be eligible if
20the deceased spouse received a retirement annuity from the Fund
21during the period from the previous July 1 until the start of
22the surviving spouse annuity.
23    (c) The amount of the supplemental benefit payment shall be
24determined by the Board as follows:
25        (1) The total amount available for the payment of
26    supplemental benefit payments under this Section in any

 

 

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1    year shall be 0.62% of the last annual participating
2    payroll for all participating municipalities and
3    participating instrumentalities in the Fund, as determined
4    and reconciled by the Fund.
5        (2) The amount of the supplemental benefit payment to
6    each eligible person shall be a portion of the total amount
7    available under paragraph (1), equal to that portion of the
8    total amount payable by the Fund to all eligible persons
9    for retirement and surviving spouse annuities in the June
10    preceding the July 1 supplemental benefit payment date,
11    that is payable to the eligible person in that month.
12        (3) Notwithstanding paragraph (2), the amount of any
13    supplemental benefit payment paid to an annuitant under
14    this Section shall not exceed any benefit limitations
15    established by the federal government for qualified public
16    pension plans.
17(Source: P.A. 87-850.)".