SB3517sam001 98TH GENERAL ASSEMBLY

Sen. Daniel Biss

Filed: 3/6/2014

09800SB3517sam001 LRB098 16952 EFG 56666 a

AMENDMENT TO SENATE BILL 3517

AMENDMENT NO. ______. Amend Senate Bill 3517 as follows:

on page 1, line 5, by replacing "Section 16-132" with "Sections 7-141 and 16-132"; and

on page 1, immediately below line 5, by inserting the following:

"(40 ILCS 5/7-141) (from Ch. 108 1/2, par. 7-141)

Sec. 7-141. Retirement annuities - Conditions. Retirement annuities shall be payable as hereinafter set forth:

(a) A participating employee who, regardless of cause, is separated from the service of all participating municipalities and instrumentalities thereof and participating instrumentalities shall be entitled to a retirement annuity provided:

1. He is at least age 55, or in the case of a person who is eligible to have his annuity calculated under Section 7-142.1, he is at least age 50;

2. He is not entitled to receive earnings for employment in a position requiring him, or entitling him to elect, to be a participating employee;

3. The amount of his annuity, before the application of paragraph (b) of Section 7-142 is at least $10 per month;

4. If he first became a participating employee after December 31, 1961, he has at least 8 years of service. This service requirement shall not apply to any participating employee, regardless of participation date, if the General Assembly terminates the Fund.

(b) Retirement annuities shall be payable:

1. As provided in Section 7-119;

2. Except as provided in item 3, upon receipt by the fund of a written application. The effective date may be not more than 2 years one year prior to the date of the receipt by the fund of the application;

3. Upon attainment of age 70 1/2 if the member (i) is no longer in service, and (ii) is otherwise entitled to an annuity under this Article;

4. To the beneficiary of the deceased annuitant for the unpaid amount accrued to date of death, if any.

(Source: P.A. 97-328, eff. 8-12-11; 97-609, eff. 1-1-12.)"; and

on page 6, in line 11, after "(ii)", by inserting "in the case of a member who is not eligible to retire on the effective date of this amendatory Act of the 98th General Assembly,"; and

on page 6, in line 16, by changing "applies" to "is limited".