Full Text of HB1447 97th General Assembly
HB1447eng 97TH GENERAL ASSEMBLY |
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| 1 | | AN ACT concerning 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 changing | 5 | | Sections 2-108.1, 2-119.1, 2-121.1, 18-125, 18-125.1, and | 6 | | 18-128.01 as follows:
| 7 | | (40 ILCS 5/2-108.1) (from Ch. 108 1/2, par. 2-108.1)
| 8 | | Sec. 2-108.1. Highest salary for annuity purposes.
| 9 | | (a) "Highest salary for annuity purposes" means whichever | 10 | | of
the following is applicable to the participant:
| 11 | | For a participant who first becomes a participant of this | 12 | | System before August 10, 2009 (the effective date of Public Act | 13 | | 96-207):
| 14 | | (1) For a participant who is a member of the General | 15 | | Assembly on his
or her last day of service: the highest | 16 | | salary that is prescribed by law,
on the participant's last | 17 | | day of service, for a member of the General
Assembly who is | 18 | | not an officer; plus, if the participant was elected or
| 19 | | appointed to serve as an officer of the General Assembly | 20 | | for 2 or more
years and has made contributions as required | 21 | | under subsection (d) of
Section 2-126, the highest | 22 | | additional amount of compensation prescribed by
law, at the | 23 | | time of the participant's service as an officer, for |
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| 1 | | members of
the General Assembly who serve in that office.
| 2 | | (2) For a participant who holds one of the State | 3 | | executive offices
specified in Section 2-105 on his or her | 4 | | last day of service: the highest
salary prescribed by law | 5 | | for service in that office on the participant's
last day of | 6 | | service.
| 7 | | (3) For a participant who is Clerk or Assistant Clerk | 8 | | of the House of Representatives or Secretary or Assistant | 9 | | Secretary of the Senate
on his or her last day of service: | 10 | | the salary received for service in that
capacity on the | 11 | | last day of service, but not to exceed the highest salary
| 12 | | (including additional compensation for service as an | 13 | | officer) that is
prescribed by law on the participant's | 14 | | last day of service for the highest
paid officer of the | 15 | | General Assembly.
| 16 | | (4) For a participant who is a continuing participant | 17 | | under Section
2-117.1 on his or her last day of service: | 18 | | the salary received for service
in that capacity on the | 19 | | last day of service, but not to exceed the highest
salary | 20 | | (including additional compensation for service as an | 21 | | officer) that
is prescribed by law on the participant's | 22 | | last day of service for the
highest paid officer of the | 23 | | General Assembly.
| 24 | | For a participant who first becomes a participant of this | 25 | | System on or after August 10, 2009 (the effective date of | 26 | | Public Act 96-207) and before January 1, 2011 (the effective |
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| 1 | | date of Public Act 96-889), the average monthly salary obtained | 2 | | by dividing the total salary of the participant during the | 3 | | period of: (1) the 48 consecutive months of service within the | 4 | | last 120 months of service in which the total compensation was | 5 | | the highest, or (2) the total period of service, if less than | 6 | | 48 months, by the number of months of service in that period. | 7 | | For a participant who first becomes a participant of this | 8 | | System on or after January 1, 2011 (the effective date of | 9 | | Public Act 96-889), the average monthly salary obtained by | 10 | | dividing the total salary of the participant during the 96 | 11 | | consecutive months of service within the last 120 months of | 12 | | service in which the total compensation was the highest by the | 13 | | number of months of service in that period; however, beginning | 14 | | January 1, 2011, the highest salary for annuity purposes may | 15 | | not exceed $106,800, except that that amount shall annually | 16 | | thereafter be increased by the lesser of (i) 3% of that amount, | 17 | | including all previous adjustments, or (ii) the annual | 18 | | unadjusted percentage increase (but not less than zero) in the | 19 | | consumer price index-u
for the 12 months ending with the | 20 | | September preceding each November 1. | 21 | | For a participant who is a participant on the effective | 22 | | date of this amendatory Act of the 97th General Assembly and | 23 | | who irrevocably elects the reduced benefits under this | 24 | | paragraph and for a participant who first becomes a participant | 25 | | of this System after the effective date of this amendatory Act | 26 | | of the 97th General Assembly, the average monthly salary |
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| 1 | | obtained by dividing the total salary of the participant during | 2 | | the 96 consecutive months of service within the last 120 months | 3 | | of service in which the total compensation was the highest by | 4 | | the number of months of service in that period; however, | 5 | | beginning on the effective date of this amendatory Act of the | 6 | | 97th General Assembly, the highest salary for annuity purposes | 7 | | may not, for the affected persons, exceed $106,800, except that | 8 | | that amount shall annually thereafter be increased by the | 9 | | lesser of (i) 3% of that amount, including all previous | 10 | | adjustments, or (ii) one-half the annual unadjusted percentage | 11 | | increase (but not less than zero) in the consumer price index-u
| 12 | | for the 12 months ending with the September preceding each | 13 | | November 1. | 14 | | "Consumer price index-u" means
the index published by the | 15 | | Bureau of Labor Statistics of the United States
Department of | 16 | | Labor that measures the average change in prices of goods and
| 17 | | services purchased by all urban consumers, United States city | 18 | | average, all
items, 1982-84 = 100. The new amount resulting | 19 | | from each annual adjustment
shall be determined by the Public | 20 | | Pension Division of the Department of Insurance and made | 21 | | available to the Board by November 1 of each year. | 22 | | (b) The earnings limitations of subsection (a) apply to | 23 | | earnings
under any other participating system under the | 24 | | Retirement Systems Reciprocal
Act that are considered in | 25 | | calculating a proportional annuity under this
Article, except | 26 | | in the case of a person who first became a member of this
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| 1 | | System before August 22,
1994.
| 2 | | (c) In calculating the subsection (a) earnings limitation | 3 | | to be applied to
earnings under any other participating system | 4 | | under the Retirement Systems
Reciprocal Act for the purpose of | 5 | | calculating a proportional annuity under this
Article, the | 6 | | participant's last day of service shall be deemed to mean the | 7 | | last
day of service in any participating system from which the | 8 | | person has applied
for a proportional annuity under the | 9 | | Retirement Systems Reciprocal Act.
| 10 | | (Source: P.A. 96-207, eff. 8-10-09; 96-889, eff. 1-1-11; | 11 | | 96-1490, eff. 1-1-11.)
| 12 | | (40 ILCS 5/2-119.1) (from Ch. 108 1/2, par. 2-119.1)
| 13 | | Sec. 2-119.1. Automatic increase in retirement annuity.
| 14 | | (a) A participant who retires after June 30, 1967, and who | 15 | | has not
received an initial increase under this Section before | 16 | | the effective date
of this amendatory Act of 1991, shall, in | 17 | | January or July next following
the first anniversary of | 18 | | retirement, whichever occurs first, and in the same
month of | 19 | | each year thereafter, but in no event prior to age 60, have the | 20 | | amount
of the originally granted retirement annuity increased | 21 | | as follows: for each
year through 1971, 1 1/2%; for each year | 22 | | from 1972 through 1979, 2%; and for
1980 and each year | 23 | | thereafter, 3%. Annuitants who have received an initial
| 24 | | increase under this subsection prior to the effective date of | 25 | | this amendatory
Act of 1991 shall continue to receive their |
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| 1 | | annual increases in the same month
as the initial increase.
| 2 | | (b) Beginning January 1, 1990, for eligible participants | 3 | | who remain
in service after attaining 20 years of creditable | 4 | | service, the 3% increases
provided under subsection (a) shall | 5 | | begin to accrue on the January 1 next
following the date upon | 6 | | which the participant (1) attains age 55, or (2)
attains 20 | 7 | | years of creditable service, whichever occurs later, and shall
| 8 | | continue to accrue while the participant remains in service; | 9 | | such increases
shall become payable on January 1 or July 1, | 10 | | whichever occurs first, next
following the first anniversary of | 11 | | retirement. For any person who has service
credit in the System | 12 | | for the entire period from January 15, 1969 through
December | 13 | | 31, 1992, regardless of the date of termination of service, the
| 14 | | reference to age 55 in clause (1) of this subsection (b) shall | 15 | | be deemed to
mean age 50.
| 16 | | This subsection (b) does not apply to any person who first | 17 | | becomes a
member of the System after the effective date of this | 18 | | amendatory Act of
the 93rd General Assembly.
| 19 | | (b-5) Notwithstanding any other provision of this Article, | 20 | | a participant who first becomes a participant on or after | 21 | | January 1, 2011 (the effective date of Public Act 96-889) | 22 | | shall, in January or July next following the first anniversary | 23 | | of retirement, whichever occurs first, and in the same month of | 24 | | each year thereafter, but in no event prior to age 67, have the | 25 | | amount of the retirement annuity then being paid increased by | 26 | | 3% or the annual unadjusted percentage increase in the Consumer |
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| 1 | | Price Index for All Urban Consumers as determined by the Public | 2 | | Pension Division of the Department of Insurance under | 3 | | subsection (a) of Section 2-108.1, whichever is less. | 4 | | (b-10) Notwithstanding any other provision of this | 5 | | Article, a participant who is a participant on the effective | 6 | | date of this amendatory Act of the 97th General Assembly and | 7 | | who irrevocably elects the reduced benefits under this | 8 | | subsection (b-10) and a participant who first becomes a | 9 | | participant after the effective date of this amendatory Act of | 10 | | the 97th General Assembly shall, in January or July next | 11 | | following the first anniversary of retirement, whichever | 12 | | occurs first, and in the same month of each year thereafter, | 13 | | but in no event prior to age 67, have the annuity increased by | 14 | | 3% or one-half the annual unadjusted percentage increase (but | 15 | | not less than zero) in the Consumer Price Index for All Urban | 16 | | Consumers as determined by the Public Pension Division of the | 17 | | Department of Insurance under subsection (a) of Section | 18 | | 2-108.1, whichever is less, of the originally granted | 19 | | retirement annuity. | 20 | | (c) The foregoing provisions relating to automatic | 21 | | increases are not
applicable to a participant who retires | 22 | | before having made contributions
(at the rate prescribed in | 23 | | Section 2-126) for automatic increases for less
than the | 24 | | equivalent of one full year. However, in order to be eligible | 25 | | for
the automatic increases, such a participant may make | 26 | | arrangements to pay
to the system the amount required to bring |
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| 1 | | the total contributions for the
automatic increase to the | 2 | | equivalent of one year's contributions based upon
his or her | 3 | | last salary.
| 4 | | (d) A participant who terminated service prior to July 1, | 5 | | 1967, with at
least 14 years of service is entitled to an | 6 | | increase in retirement annuity
beginning January, 1976, and to | 7 | | additional increases in January of each
year thereafter.
| 8 | | The initial increase shall be 1 1/2% of the originally | 9 | | granted retirement
annuity multiplied by the number of full | 10 | | years that the annuitant was in
receipt of such annuity prior | 11 | | to January 1, 1972, plus 2% of the originally
granted | 12 | | retirement annuity for each year after that date. The | 13 | | subsequent
annual increases shall be at the rate of 2% of the | 14 | | originally granted
retirement annuity for each year through | 15 | | 1979 and at the rate of 3% for
1980 and thereafter.
| 16 | | (e) Beginning January 1, 1990, all automatic annual | 17 | | increases payable
under this Section shall be calculated as a | 18 | | percentage of the total annuity
payable at the time of the | 19 | | increase, including previous increases granted
under this | 20 | | Article.
| 21 | | (Source: P.A. 96-889, eff. 1-1-11; 96-1490, eff. 1-1-11.)
| 22 | | (40 ILCS 5/2-121.1) (from Ch. 108 1/2, par. 2-121.1)
| 23 | | Sec. 2-121.1. Survivor's annuity - amount.
| 24 | | (a) A surviving spouse shall be entitled to 66 2/3% of the | 25 | | amount of
retirement annuity to which the participant or |
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| 1 | | annuitant was entitled on
the date of death, without regard to | 2 | | whether the participant had attained
age 55 prior to his or her | 3 | | death, subject to a minimum payment of 10% of
salary. If a | 4 | | surviving spouse, regardless of age, has in his or her care
at | 5 | | the date of death any eligible child or children of the | 6 | | participant, the
survivor's annuity shall be the greater of the | 7 | | following: (1) 66 2/3% of
the amount of retirement annuity to | 8 | | which the participant or annuitant was
entitled on the date of | 9 | | death, or (2) 30% of the participant's salary
increased by 10% | 10 | | of salary on account of each such child, subject to a
total | 11 | | payment for the surviving spouse and children of 50% of salary. | 12 | | If
eligible children survive but there is no surviving spouse, | 13 | | or if the
surviving spouse dies or becomes disqualified by
| 14 | | remarriage while eligible children survive, each
eligible | 15 | | child shall be entitled to an annuity of 20% of salary, subject
| 16 | | to a maximum total payment for all such children of 50% of | 17 | | salary.
| 18 | | However, the survivor's annuity payable under this Section | 19 | | shall not be
less than 100% of the amount of retirement annuity | 20 | | to which the participant
or annuitant was entitled on the date | 21 | | of death, if he or she is survived by
a dependent disabled | 22 | | child.
| 23 | | The salary to be used for determining these benefits shall | 24 | | be the
salary used for determining the amount of retirement | 25 | | annuity as provided
in Section 2-119.01.
| 26 | | (b) Upon the death of a participant after the termination |
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| 1 | | of service or
upon death of an annuitant, the maximum total | 2 | | payment to a surviving spouse
and eligible children, or to | 3 | | eligible children alone if there is no surviving
spouse, shall | 4 | | be 75% of the retirement annuity to which the participant
or | 5 | | annuitant was entitled, unless there is a dependent disabled | 6 | | child
among the survivors.
| 7 | | (c) When a child ceases to be an eligible child, the | 8 | | annuity to that
child, or to the surviving spouse on account of | 9 | | that child, shall thereupon
cease, and the annuity payable to | 10 | | the surviving spouse or other eligible
children shall be | 11 | | recalculated if necessary.
| 12 | | Upon the ineligibility of the last eligible child, the | 13 | | annuity shall
immediately revert to the amount payable upon | 14 | | death of a participant or
annuitant who leaves no eligible | 15 | | children. If the surviving spouse is then
under age 50, the | 16 | | annuity as revised shall be deferred until the attainment
of | 17 | | age 50.
| 18 | | (d) Beginning January 1, 1990, every survivor's annuity | 19 | | shall be increased
(1) on each January 1 occurring on or after | 20 | | the commencement of the annuity if
the deceased member died | 21 | | while receiving a retirement annuity, or (2) in
other cases, on | 22 | | each January 1 occurring on or after the first anniversary
of | 23 | | the commencement of the annuity, by an amount equal to 3% of | 24 | | the current
amount of the annuity, including any previous | 25 | | increases under this Article.
Such increases shall apply | 26 | | without regard to whether the deceased member
was in service on |
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| 1 | | or after the effective date of this amendatory Act of
1991, but | 2 | | shall not accrue for any period prior to January 1, 1990.
| 3 | | (d-5) Notwithstanding any other provision of this Article, | 4 | | the initial survivor's annuity of a survivor of a participant | 5 | | who first becomes a participant on or after January 1, 2011 | 6 | | (the effective date of Public Act 96-889) shall be in the | 7 | | amount of 66 2/3% of the amount of the retirement annuity to | 8 | | which the participant or annuitant was entitled on the date of | 9 | | death and shall be increased (1) on each January 1 occurring on | 10 | | or after the commencement of the annuity if
the deceased member | 11 | | died while receiving a retirement annuity or (2) in
other | 12 | | cases, on each January 1 occurring on or after the first | 13 | | anniversary
of the commencement of the annuity, by an amount | 14 | | equal to 3% or the annual unadjusted percentage increase in the | 15 | | Consumer Price Index for All Urban Consumers as determined by | 16 | | the Public Pension Division of the Department of Insurance | 17 | | under subsection (a) of Section 2-108.1, whichever is less, of | 18 | | the survivor's annuity then being paid. | 19 | | (d-10) Notwithstanding any other provision of this | 20 | | Article, the initial survivor's annuity of a survivor of (i) a | 21 | | participant who is a participant on the effective date of this | 22 | | amendatory Act of the 97th General Assembly and who irrevocably | 23 | | elects the reduced benefits under this subsection (d-10) and | 24 | | (ii) a participant who first becomes a participant after the | 25 | | effective date of this amendatory Act of the 97th General | 26 | | Assembly shall be in the amount of 66 2/3% of the amount of the |
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| 1 | | retirement annuity to which the participant or annuitant was | 2 | | entitled on the date of death and shall be increased (1) on | 3 | | each January 1 occurring on or after the commencement of the | 4 | | annuity if
the deceased member died while receiving a | 5 | | retirement annuity or (2) in
other cases, on each January 1 | 6 | | occurring on or after the first anniversary
of the commencement | 7 | | of the annuity, by an amount equal to 3% or one-half the annual | 8 | | unadjusted percentage increase (but not less than zero) in the | 9 | | Consumer Price Index for All Urban Consumers as determined by | 10 | | the Public Pension Division of the Department of Insurance | 11 | | under subsection (a) of Section 2-108.1, whichever is less, of | 12 | | the originally granted survivor's annuity. | 13 | | (e) Notwithstanding any other provision of this Article, | 14 | | beginning
January 1, 1990, the minimum survivor's annuity | 15 | | payable to any person who
is entitled to receive a survivor's | 16 | | annuity under this Article shall be
$300 per month, without | 17 | | regard to whether or not the deceased participant
was in | 18 | | service on the effective date of this amendatory Act of 1989.
| 19 | | (f) In the case of a proportional survivor's annuity | 20 | | arising under
the Retirement Systems Reciprocal Act where the | 21 | | amount payable by the
System on January 1, 1993 is less than | 22 | | $300 per month, the amount payable
by the System shall be | 23 | | increased beginning on that date by a monthly amount
equal to | 24 | | $2 for each full year that has expired since the annuity began.
| 25 | | (Source: P.A. 96-889, eff. 1-1-11; 96-1490, eff. 1-1-11.)
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| 1 | | (40 ILCS 5/18-125) (from Ch. 108 1/2, par. 18-125)
| 2 | | Sec. 18-125. Retirement annuity amount.
| 3 | | (a) The annual retirement annuity for a participant who | 4 | | terminated
service as a judge prior to July 1, 1971 shall be | 5 | | based on the law in
effect at the time of termination of | 6 | | service.
| 7 | | (b) Except as provided in subsection (b-5), effective July | 8 | | 1, 1971, the retirement annuity for any participant
in service | 9 | | on or after such date shall be 3 1/2% of final average salary,
| 10 | | as defined in this Section, for each of the first 10 years of | 11 | | service, and
5% of such final average salary for each year of | 12 | | service on excess of 10.
| 13 | | For purposes of this Section, final average salary for a | 14 | | participant who first serves as a judge before August 10, 2009 | 15 | | (the effective date of Public Act 96-207) shall be:
| 16 | | (1) the average salary for the last 4 years of credited | 17 | | service as a
judge for a participant who terminates service | 18 | | before July 1, 1975.
| 19 | | (2) for a participant who terminates service after June | 20 | | 30, 1975
and before July 1, 1982, the salary on the last | 21 | | day of employment as a judge.
| 22 | | (3) for any participant who terminates service after | 23 | | June 30, 1982 and
before January 1, 1990, the average | 24 | | salary for the final year of service as
a judge.
| 25 | | (4) for a participant who terminates service on or | 26 | | after January 1,
1990 but before the effective date of this |
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| 1 | | amendatory Act of 1995, the
salary on the last day of | 2 | | employment as a judge.
| 3 | | (5) for a participant who terminates service on or | 4 | | after the effective
date of this amendatory Act of 1995, | 5 | | the salary on the last day of employment
as a judge, or the | 6 | | highest salary received by the participant for employment | 7 | | as
a judge in a position held by the participant for at | 8 | | least 4 consecutive years,
whichever is greater.
| 9 | | However, in the case of a participant who elects to | 10 | | discontinue contributions
as provided in subdivision (a)(2) of | 11 | | Section 18-133, the time of such
election shall be considered | 12 | | the last day of employment in the determination
of final | 13 | | average salary under this subsection.
| 14 | | For a participant who first serves as a judge on or after | 15 | | August 10, 2009 (the effective date of Public Act 96-207) and | 16 | | before January 1, 2011 (the effective date of Public Act | 17 | | 96-889), final average salary shall be the average monthly | 18 | | salary obtained by dividing the total salary of the participant | 19 | | during the period of: (1) the 48 consecutive months of service | 20 | | within the last 120 months of service in which the total | 21 | | compensation was the highest, or (2) the total period of | 22 | | service, if less than 48 months, by the number of months of | 23 | | service in that period. | 24 | | The maximum retirement annuity for any participant shall be | 25 | | 85% of final
average salary.
| 26 | | (b-5) Notwithstanding any other provision of this Article, |
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| 1 | | for a participant who first serves as a judge on or after | 2 | | January 1, 2011 (the effective date of Public Act 96-889), the | 3 | | annual
retirement annuity is 3% of the
participant's final | 4 | | average salary for each year of service. The maximum retirement
| 5 | | annuity payable shall be 60% of the participant's final average | 6 | | salary. | 7 | | For a participant who first serves as a judge on or after | 8 | | January 1, 2011 (the effective date of Public Act 96-889), | 9 | | final average salary shall be the average monthly salary | 10 | | obtained by dividing the total salary of the judge during the | 11 | | 96 consecutive months of service within the last 120 months of | 12 | | service in which the total salary was the highest by the number | 13 | | of months of service in that period; however, beginning January | 14 | | 1, 2011, the annual salary may not exceed $106,800, except that | 15 | | that amount shall annually thereafter be increased by the | 16 | | lesser of (i) 3% of that amount, including all previous | 17 | | adjustments, or (ii) the annual unadjusted percentage increase | 18 | | (but not less than zero) in the consumer price index-u
for the | 19 | | 12 months ending with the September preceding each November 1. | 20 | | For a participant who serves as a judge on the effective | 21 | | date of this amendatory Act of the 97th General Assembly and | 22 | | who irrevocably elects the reduced benefits under this | 23 | | paragraph and for a participant who first serves as a judge | 24 | | after the effective date of this amendatory Act of the 97th | 25 | | General Assembly, final average salary shall be the average | 26 | | monthly salary obtained by dividing the total salary of the |
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| 1 | | judge during the 96 consecutive months of service within the | 2 | | last 120 months of service in which the total salary was the | 3 | | highest by the number of months of service in that period; | 4 | | however, beginning on the effective date of this amendatory Act | 5 | | of the 97th General Assembly, the annual salary may not, for | 6 | | affected judges, exceed $106,800, except that that amount shall | 7 | | annually thereafter be increased by the lesser of (1) 3% of | 8 | | that amount, including all previous adjustments, or (2) | 9 | | one-half the annual unadjusted percentage increase (but not | 10 | | less than zero) in the consumer price index-u
for the 12 months | 11 | | ending with the September preceding each November 1. | 12 | | "Consumer price index-u" means
the index published by the | 13 | | Bureau of Labor Statistics of the United States
Department of | 14 | | Labor that measures the average change in prices of goods and
| 15 | | services purchased by all urban consumers, United States city | 16 | | average, all
items, 1982-84 = 100. The new amount resulting | 17 | | from each annual adjustment
shall be determined by the Public | 18 | | Pension Division of the Department of Insurance and made | 19 | | available to the Board by November 1st of each year. | 20 | | (c) The retirement annuity for a participant who retires | 21 | | prior to age 60
with less than 28 years of service in the | 22 | | System shall be reduced 1/2 of 1%
for each month that the | 23 | | participant's age is under 60 years at the time the
annuity | 24 | | commences. However, for a participant who retires on or after | 25 | | the
effective date of this amendatory Act of the 91st General | 26 | | Assembly, the
percentage reduction in retirement annuity |
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| 1 | | imposed under this subsection shall
be reduced by 5/12 of 1% | 2 | | for every month of service in this System in excess of
20 | 3 | | years, and therefore a participant with at least 26 years of | 4 | | service in this
System may retire at age 55 without any | 5 | | reduction in annuity.
| 6 | | The reduction in retirement annuity imposed by this | 7 | | subsection shall not
apply in the case of retirement on account | 8 | | of disability.
| 9 | | (d) Notwithstanding any other provision of this Article, | 10 | | for a participant who first serves as a judge on or after | 11 | | January 1, 2011 (the effective date of Public Act 96-889) and | 12 | | who is retiring after attaining age 62, the retirement annuity | 13 | | shall be reduced by 1/2
of 1% for each month that the | 14 | | participant's age is under age 67 at the time the annuity | 15 | | commences. | 16 | | (Source: P.A. 96-207, eff. 8-10-09; 96-889, eff. 1-1-11; | 17 | | 96-1000, eff. 7-2-10; 96-1490, eff. 1-1-11.)
| 18 | | (40 ILCS 5/18-125.1) (from Ch. 108 1/2, par. 18-125.1)
| 19 | | Sec. 18-125.1. Automatic increase in retirement annuity. A | 20 | | participant who
retires from service after June 30, 1969, | 21 | | shall, in January of the year next
following the year in which | 22 | | the first anniversary of retirement occurs, and in
January of | 23 | | each year thereafter, have the amount of his or her originally
| 24 | | granted retirement annuity increased as follows: for each year | 25 | | up to and
including 1971, 1 1/2%; for each year from 1972 |
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| 1 | | through 1979 inclusive, 2%; and
for 1980 and each year | 2 | | thereafter, 3%.
| 3 | | Notwithstanding any other provision of this Article, a | 4 | | retirement annuity for a participant who first serves as a | 5 | | judge on or after January 1, 2011 (the effective date of Public | 6 | | Act 96-889) shall be increased in January of the year next
| 7 | | following the year in which the first anniversary of retirement | 8 | | occurs, but in no event prior to age 67, and in
January of each | 9 | | year thereafter, by an amount equal to 3% or the annual | 10 | | percentage increase in the consumer price index-u as determined | 11 | | by the Public Pension Division of the Department of Insurance | 12 | | under subsection (b-5) of Section 18-125, whichever is less, of | 13 | | the retirement annuity then being paid. | 14 | | Notwithstanding any other provision of this Article, a | 15 | | retirement annuity for a participant who serves as a judge on | 16 | | the effective date of this amendatory Act of the 97th General | 17 | | Assembly and who irrevocably elects the reduced benefits under | 18 | | this paragraph and for a participant who first serves as a | 19 | | judge after the effective date of this amendatory Act of the | 20 | | 97th General Assembly shall be increased in January of the year | 21 | | next
following the year in which the first anniversary of | 22 | | retirement occurs, but in no event prior to age 67, and in
| 23 | | January of each year thereafter, by an amount equal to 3% or | 24 | | one-half the annual unadjusted percentage increase (but not | 25 | | less than zero) in the consumer price index-u as determined by | 26 | | the Public Pension Division of the Department of Insurance |
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| 1 | | under subsection (b-5) of Section 18-125, whichever is less, of | 2 | | the originally granted retirement annuity. | 3 | | This Section is not applicable to a participant who retires | 4 | | before he
or she has made contributions at the rate prescribed | 5 | | in Section 18-133 for
automatic increases for not less than the | 6 | | equivalent of one full year, unless
such a participant arranges | 7 | | to pay the system the amount required to bring
the total | 8 | | contributions for the automatic increase to the equivalent of
| 9 | | one year's contribution based upon his or her last year's | 10 | | salary.
| 11 | | This Section is applicable to all participants in service | 12 | | after June 30,
1969 unless a participant has elected, prior to | 13 | | September 1,
1969, in a written direction filed with the board | 14 | | not to be subject to
the provisions of this Section. Any | 15 | | participant in service on or after
July 1, 1992 shall have the | 16 | | option of electing prior to April 1, 1993,
in a written | 17 | | direction filed with the board, to be covered by the provisions | 18 | | of
the 1969 amendatory Act. Such participant shall be required | 19 | | to make the
aforesaid additional contributions with compound | 20 | | interest at 4% per annum.
| 21 | | Any participant who has become eligible to receive the | 22 | | maximum rate of
annuity and who resumes service as a judge | 23 | | after receiving a retirement
annuity under this Article shall | 24 | | have the amount of his or her
retirement annuity increased by | 25 | | 3% of the originally granted annuity amount
for each year of | 26 | | such resumed service, beginning in January of the year
next |
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| 1 | | following the date of such resumed service, upon subsequent
| 2 | | termination of such resumed service.
| 3 | | Beginning January 1, 1990, all automatic annual increases | 4 | | payable
under this Section shall be calculated as a percentage | 5 | | of the total annuity
payable at the time of the increase, | 6 | | including previous increases granted
under this Article.
| 7 | | (Source: P.A. 96-889, eff. 1-1-11; 96-1490, eff. 1-1-11.)
| 8 | | (40 ILCS 5/18-128.01) (from Ch. 108 1/2, par. 18-128.01)
| 9 | | Sec. 18-128.01. Amount of survivor's annuity.
| 10 | | (a) Upon the death of
an annuitant, his or her surviving | 11 | | spouse shall be entitled to a survivor's
annuity of 66 2/3% of | 12 | | the annuity the annuitant was receiving immediately
prior to | 13 | | his or her death, inclusive of annual increases in the | 14 | | retirement
annuity to the date of death.
| 15 | | (b) Upon the death of an active participant, his or her | 16 | | surviving spouse
shall receive a survivor's annuity of 66 2/3% | 17 | | of the annuity earned by the
participant as of the date of his | 18 | | or her death, determined without regard
to whether the | 19 | | participant had attained age 60 as of that time, or 7 1/2%
of | 20 | | the last salary of the decedent, whichever is greater.
| 21 | | (c) Upon the death of a participant who had terminated | 22 | | service with at
least 10 years of service, his or her surviving | 23 | | spouse shall be entitled
to a survivor's annuity of 66 2/3% of | 24 | | the annuity earned by the deceased
participant at the date of | 25 | | death.
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| 1 | | (d) Upon the death of an annuitant, active participant, or | 2 | | participant
who had terminated service with at least 10 years | 3 | | of service, each surviving
child under the age of 18 or | 4 | | disabled as defined in Section 18-128 shall
be entitled to a | 5 | | child's annuity in an amount equal to 5% of the decedent's
| 6 | | final salary, not to exceed in total for all such children the | 7 | | greater of
20% of the decedent's last salary or 66 2/3% of the | 8 | | annuity received or
earned by the decedent as provided under | 9 | | subsections (a) and (b) of this
Section. This child's annuity | 10 | | shall be paid whether or not a survivor's
annuity was elected | 11 | | under Section 18-123.
| 12 | | (e) The changes made in the survivor's annuity provisions | 13 | | by Public Act
82-306 shall apply to the survivors of a deceased | 14 | | participant or annuitant
whose death occurs on or after August | 15 | | 21, 1981.
| 16 | | (f) Beginning January 1, 1990, every survivor's annuity | 17 | | shall be
increased
(1) on each January 1 occurring on or after | 18 | | the commencement of the annuity if
the deceased member died | 19 | | while receiving a retirement annuity, or (2) in other cases,
on | 20 | | each January 1 occurring on or after the first anniversary of
| 21 | | the commencement of the annuity, by an amount equal to 3% of | 22 | | the current
amount of the annuity, including any previous | 23 | | increases under this Article.
Such increases shall apply | 24 | | without regard to whether the deceased member
was in service on | 25 | | or after the effective date of this amendatory Act of
1991, but | 26 | | shall not accrue for any period prior to January 1, 1990.
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| 1 | | (g) Notwithstanding any other provision of this Article, | 2 | | the initial survivor's annuity for a survivor of a participant | 3 | | who first serves as a judge after January 1, 2011 (the | 4 | | effective date of Public Act 96-889) shall be in the amount of | 5 | | 66 2/3% of the annuity received or earned by the decedent, and | 6 | | shall be increased (1) on each January 1 occurring on or after | 7 | | the commencement of the annuity if
the deceased participant | 8 | | died while receiving a retirement annuity, or (2) in other | 9 | | cases,
on each January 1 occurring on or after the first | 10 | | anniversary of
the commencement of the annuity, but in no event | 11 | | prior to age 67, by an amount equal to 3% or the annual | 12 | | unadjusted percentage increase in the consumer price index-u as | 13 | | determined by the Public Pension Division of the Department of | 14 | | Insurance under subsection (b-5) of Section 18-125, whichever | 15 | | is less, of the survivor's annuity then being paid. | 16 | | (h) Notwithstanding any other provision of this Article, | 17 | | the initial survivor's annuity for (i) a participant who serves | 18 | | as a judge on the effective date of this amendatory Act of the | 19 | | 97th General Assembly and who irrevocably elects the reduced | 20 | | benefits under this subsection (h) and (ii) a survivor of a | 21 | | participant who first serves as a judge after the effective | 22 | | date of this amendatory Act of the 97th General Assembly shall | 23 | | be in the amount of 66 2/3% of the annuity received or earned | 24 | | by the decedent, and shall be increased (1) on each January 1 | 25 | | occurring on or after the commencement of the annuity if
the | 26 | | deceased participant died while receiving a retirement |
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| 1 | | annuity, or (2) in other cases,
on each January 1 occurring on | 2 | | or after the first anniversary of
the commencement of the | 3 | | annuity, but in no event prior to age 67, by an amount equal to | 4 | | 3% or one-half the annual unadjusted percentage increase (but | 5 | | not less than zero) in the consumer price index-u as determined | 6 | | by the Public Pension Division of the Department of Insurance | 7 | | under subsection (b-5) of Section 18-125, whichever is less, of | 8 | | the originally granted survivor's annuity. | 9 | | (Source: P.A. 96-889, eff. 1-1-11; 96-1490, eff. 1-1-11.)
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