Full Text of HB4642 93rd General Assembly
HB4642 93RD GENERAL ASSEMBLY
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93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004 HB4642
Introduced 2/4/2004, by Lou Lang SYNOPSIS AS INTRODUCED: |
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40 ILCS 5/14-114 |
from Ch. 108 1/2, par. 14-114 |
40 ILCS 5/14-119 |
from Ch. 108 1/2, par. 14-119 |
40 ILCS 5/14-121 |
from Ch. 108 1/2, par. 14-121 |
40 ILCS 5/15-136 |
from Ch. 108 1/2, par. 15-136 |
40 ILCS 5/15-136.3 |
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40 ILCS 5/15-145 |
from Ch. 108 1/2, par. 15-145 |
40 ILCS 5/16-133.1 |
from Ch. 108 1/2, par. 16-133.1 |
40 ILCS 5/16-143.1 |
from Ch. 108 1/2, par. 16-143.1 |
40 ILCS 5/17-119 |
from Ch. 108 1/2, par. 17-119 |
40 ILCS 5/17-122 |
from Ch. 108 1/2, par. 17-122 |
30 ILCS 805/8.28 new |
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Amends the State Employee, State Universities, Downstate Teacher, and Chicago
Teacher Articles of the Illinois Pension Code to provide for a one-time increase in
certain retirement and survivor's annuities. Amends the State Mandates Act
to require implementation without reimbursement. Effective immediately.
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FISCAL NOTE ACT MAY APPLY |
PENSION IMPACT NOTE ACT MAY APPLY |
STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT |
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A BILL FOR
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HB4642 |
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LRB093 14988 LRD 40557 b |
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| AN ACT in relation to public employee pensions, amending | 2 |
| named Acts.
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| Be it enacted by the People of the State of Illinois, | 4 |
| represented in the General Assembly:
| 5 |
| Section 5. The Illinois Pension Code is amended by changing | 6 |
| Sections
14-114, 14-119, 14-121, 15-136, 15-136.3, 15-145, | 7 |
| 16-133.1, 16-143.1, 17-119,
and 17-122 as follows:
| 8 |
| (40 ILCS 5/14-114) (from Ch. 108 1/2, par. 14-114)
| 9 |
| Sec. 14-114. Automatic increase in retirement annuity.
| 10 |
| (a) Any person receiving a retirement annuity under this | 11 |
| Article who
retires having attained age 60, or who retires | 12 |
| before age 60 having at
least 35 years of creditable service, | 13 |
| or who retires on or after January
1, 2001 at an age which, | 14 |
| when added to the number of years of his or her
creditable | 15 |
| service, equals at least 85, shall, on January 1 next
following | 16 |
| the first full year of retirement, have the amount of the then | 17 |
| fixed
and payable monthly retirement annuity increased 3%. Any | 18 |
| person receiving a
retirement annuity under this Article who | 19 |
| retires before attainment of age 60
and with less than (i) 35 | 20 |
| years of creditable service if retirement
is before January 1, | 21 |
| 2001, or (ii) the number of years of creditable service
which, | 22 |
| when added to the member's age, would equal 85, if retirement | 23 |
| is on
or after January 1, 2001, shall have the amount of the | 24 |
| fixed and payable
retirement annuity increased by 3% on the | 25 |
| January 1 occurring on or next
following (1) attainment of age | 26 |
| 60, or (2) the first anniversary of retirement,
whichever | 27 |
| occurs later. However, for persons who receive the alternative
| 28 |
| retirement annuity under Section 14-110, references in this | 29 |
| subsection (a) to
attainment of age 60 shall be deemed to refer | 30 |
| to attainment of age 55. For a
person receiving early | 31 |
| retirement incentives under Section 14-108.3 whose
retirement | 32 |
| annuity began after January 1, 1992 pursuant to an extension |
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LRB093 14988 LRD 40557 b |
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| granted
under subsection (e) of that Section, the first | 2 |
| anniversary of retirement shall
be deemed to be January 1, | 3 |
| 1993.
For a person who retires on or after June 28, 2001 and on | 4 |
| or before October 1, 2001,
and whose retirement annuity is | 5 |
| calculated, in whole or in part, under Section
14-110 or | 6 |
| subsection (g) or (h) of Section 14-108, the first anniversary | 7 |
| of
retirement shall be deemed to be January 1, 2002.
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| On each January 1 following the date of the initial | 9 |
| increase under this
subsection, the employee's monthly | 10 |
| retirement annuity shall be increased
by an additional 3%.
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| Beginning January 1, 1990, all automatic annual increases | 12 |
| payable under
this Section shall be calculated as a percentage | 13 |
| of the total annuity
payable at the time of the increase, | 14 |
| including previous increases granted
under this Article.
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| (b) The provisions of subsection (a) of this Section shall | 16 |
| be
applicable to an employee only if the employee makes the | 17 |
| additional
contributions required after December 31, 1969 for | 18 |
| the purpose of the
automatic increases for not less than the | 19 |
| equivalent of one full year.
If an employee becomes an | 20 |
| annuitant before his additional contributions
equal one full | 21 |
| year's contributions based on his salary at the date of
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| retirement, the employee may pay the necessary balance of the
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| contributions to the system, without interest, and be eligible | 24 |
| for the
increasing annuity authorized by this Section.
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| (c) The provisions of subsection (a) of this Section shall | 26 |
| not be
applicable to any annuitant who is on retirement on | 27 |
| December 31, 1969, and
thereafter returns to State service, | 28 |
| unless the member has established at
least one year of | 29 |
| additional creditable service following reentry into service.
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| (d) In addition to other increases which may be provided by | 31 |
| this Section,
on January 1, 1981 any annuitant who was | 32 |
| receiving a retirement annuity
on or before January 1, 1971 | 33 |
| shall have his retirement annuity then being
paid increased $1 | 34 |
| per month for each year of creditable service. On January
1, | 35 |
| 1982, any annuitant who began receiving a retirement annuity on | 36 |
| or
before January 1, 1977, shall have his retirement annuity |
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HB4642 |
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LRB093 14988 LRD 40557 b |
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| then being paid
increased $1 per month for each year of | 2 |
| creditable service.
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| On January 1, 1987, any annuitant who began receiving a | 4 |
| retirement
annuity on or before January 1, 1977, shall have the | 5 |
| monthly retirement annuity
increased by an amount equal to 8˘ | 6 |
| per year of creditable service times the
number of years that | 7 |
| have elapsed since the annuity began.
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| (d-1) On January 1, 2005, every annuitant who began | 9 |
| receiving a retirement
annuity on or before January 1, 1991 | 10 |
| shall have the monthly retirement annuity
increased by an | 11 |
| amount equal to 25˘ multiplied by the number of full years of
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| creditable service multiplied by the number of full years that | 13 |
| have elapsed
since the annuity began. Every annuitant who | 14 |
| begins receiving a retirement
annuity after January 1, 1991 and | 15 |
| before January 1, 1998 shall have the monthly
retirement | 16 |
| annuity increased on January 1, 2005 or on the January 1 | 17 |
| occurring
on or next following the seventh anniversary of | 18 |
| retirement, whichever is later,
by an amount equal to $1.75 | 19 |
| multiplied
by the number of full years of creditable service | 20 |
| upon which the retirement
annuity is based. The increase under | 21 |
| this subsection shall be included in the
calculation of | 22 |
| increases granted simultaneously or thereafter under | 23 |
| subsection
(a).
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| (e) Every person who receives the alternative retirement | 25 |
| annuity under
Section 14-110 and who is eligible to receive the | 26 |
| 3% increase under subsection
(a) on January 1, 1986, shall also | 27 |
| receive on that date a one-time increase
in retirement annuity | 28 |
| equal to the difference between (1) his actual
retirement | 29 |
| annuity on that date, including any increases received under
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| subsection (a), and (2) the amount of retirement annuity he | 31 |
| would have
received on that date if the amendments to | 32 |
| subsection (a) made by Public
Act 84-162 had been in effect | 33 |
| since the date of his retirement.
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| (Source: P.A. 91-927, eff. 12-14-00; 92-14, eff. 6-28-01;
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| 92-651, eff. 7-11-02.)
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LRB093 14988 LRD 40557 b |
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| (40 ILCS 5/14-119) (from Ch. 108 1/2, par. 14-119)
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| Sec. 14-119. Amount of widow's annuity.
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| (a) The widow's annuity shall be 50% of the amount of | 4 |
| retirement annuity
payable to the member on the date of death | 5 |
| while on retirement if an
annuitant, or on the date of his | 6 |
| death while in service if an employee,
regardless of his age on | 7 |
| such date, or on the date of withdrawal if death
occurred after | 8 |
| termination of service under the conditions prescribed in
the | 9 |
| preceding Section.
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| (b) If an eligible widow, regardless of age, has in her | 11 |
| care any
unmarried child or children of the member under age 18 | 12 |
| (under age 22 if a
full-time student), the widow's
annuity | 13 |
| shall be increased in the amount of 5% of the retirement | 14 |
| annuity
for each such child, but the combined payments for a | 15 |
| widow and
children shall not exceed 66 2/3% of the member's | 16 |
| earned
retirement annuity.
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| The amount of retirement annuity from which the widow's
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| annuity is derived shall be that earned by the member without | 19 |
| regard to
whether he attained age 60 prior to his withdrawal | 20 |
| under the conditions
stated or prior to his death.
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| (c) Adopted children shall be considered as children of the | 22 |
| member
only if the proceedings for adoption were commenced at | 23 |
| least 1 year
prior to the member's death.
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| Marriage of a child shall render the child ineligible for | 25 |
| further
consideration in the increase in the amount of the | 26 |
| widow's annuity.
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| Attainment of age 18 (age 22 if a full-time student)
shall | 28 |
| render a child ineligible for
further consideration in the | 29 |
| increase of the widow's annuity, but the
annuity to the widow | 30 |
| shall be continued thereafter, without regard to
her age at | 31 |
| that time.
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| (d) A widow's annuity payable on account of any covered | 33 |
| employee who
shall have been a covered employee for at least 18 | 34 |
| months shall be reduced
by 1/2 of the amount of survivors | 35 |
| benefits to which his beneficiaries are
eligible under the | 36 |
| provisions of the Federal Social Security Act, except
that (1) |
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LRB093 14988 LRD 40557 b |
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| the amount of any widow's annuity payable under this Article | 2 |
| shall
not be reduced by reason of any increase under that Act | 3 |
| which occurs after
the offset required by this subsection is | 4 |
| first applied to that annuity,
and (2) for benefits granted on | 5 |
| or after January 1, 1992, the offset under
this subsection (d) | 6 |
| shall not exceed 50% of the amount of widow's annuity
otherwise | 7 |
| payable.
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| (e) Upon the death of a recipient of a widow's annuity the | 9 |
| excess, if
any, of the member's accumulated contributions plus | 10 |
| credited interest over
all annuity payments to the member and | 11 |
| widow, exclusive of the $500 lump
sum payment, shall be paid to | 12 |
| the named beneficiary of the widow, or if
none has been named, | 13 |
| to the estate of the widow, provided no reversionary
annuity is | 14 |
| payable.
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| (f) On January 1, 1981, any recipient of a widow's annuity | 16 |
| who was receiving
a widow's annuity on or before January 1, | 17 |
| 1971, shall have her widow's annuity
then being paid increased | 18 |
| by 1% for each full year which has elapsed from
the date the | 19 |
| widow's annuity began. On January 1, 1982, any recipient
of a | 20 |
| widow's annuity who began receiving a widow's annuity after | 21 |
| January
1, 1971, but before January 1, 1981, shall have her | 22 |
| widow's annuity then
being paid increased by 1% for each full | 23 |
| year which has elapsed from the
date the widow's annuity began. | 24 |
| On January 1, 1987, any recipient of a
widow's annuity who | 25 |
| began receiving the widow's annuity on or before January
1, | 26 |
| 1977, shall have the monthly widow's annuity increased by $1
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| for each full year which has elapsed since the date the
annuity | 28 |
| began.
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| (f-1) On January 1, 2005, every widow who began receiving a | 30 |
| widow's
annuity on or before January 1, 1991 shall have the | 31 |
| monthly widow's annuity
increased by an amount equal to 25˘ | 32 |
| multiplied by the number of full years of
the deceased spouse's | 33 |
| creditable service multiplied by the sum of (i) the
number of | 34 |
| full years that have elapsed since the widow's annuity began | 35 |
| and
(ii) the number of full years, if any, during which the | 36 |
| deceased spouse
received a retirement annuity under this |
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HB4642 |
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LRB093 14988 LRD 40557 b |
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| Article. Every widow who begins
receiving a widow's annuity | 2 |
| after January 1, 1991 and before January 1, 2005
shall have the | 3 |
| monthly widow's annuity increased on January 1, 2005 or on the
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| January 1 occurring on or next following the seventh | 5 |
| anniversary of the
commencement of the widow's annuity, | 6 |
| whichever is later, by an amount equal
to 25˘ multiplied by
the | 7 |
| number of full years of the deceased spouse's creditable | 8 |
| service multiplied
by the sum of (i) the number of full years | 9 |
| that have elapsed since the widow's
annuity began and (ii) the | 10 |
| number of full years, if any, during which the
deceased spouse | 11 |
| received a retirement annuity under this Article. The increase
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| under this subsection shall be included in the calculation of | 13 |
| increases granted
simultaneously or thereafter under | 14 |
| subsection (g).
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| (g) Beginning January 1, 1990, every widow's annuity shall | 16 |
| be
increased (1) on each January 1 occurring on or after the | 17 |
| commencement
of the annuity if the deceased member died while | 18 |
| receiving a retirement
annuity, or (2) in other cases, on each | 19 |
| January 1 occurring on or after
the first anniversary of the | 20 |
| commencement of the annuity, by an amount
equal to 3% of the | 21 |
| current amount of the annuity, including any previous
increases | 22 |
| under this Article. Such increases shall apply without regard | 23 |
| to
whether the deceased member was in service on or after the | 24 |
| effective date
of Public Act 86-1488, but shall not accrue for | 25 |
| any period prior to January
1, 1990.
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| (Source: P.A. 90-448, eff. 8-16-97.)
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| (40 ILCS 5/14-121) (from Ch. 108 1/2, par. 14-121)
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| Sec. 14-121. Amount of survivors annuity. A survivors | 29 |
| annuity
beneficiary shall be entitled upon death of the member | 30 |
| to a single sum
payment of $1,000, payable pro rata among all | 31 |
| persons entitled thereto,
together with a survivors annuity | 32 |
| payable at the rates and under the
conditions specified in this | 33 |
| Article.
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| (a) If the survivors annuity beneficiary is a spouse, the | 35 |
| survivors
annuity shall be 30% of final average compensation |
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LRB093 14988 LRD 40557 b |
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| subject to a maximum
payment of $400 per month.
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| (b) If an eligible child or children under the care of a | 3 |
| spouse also
survives the member, such spouse as natural | 4 |
| guardian of the child or
children shall receive, in addition to | 5 |
| the foregoing annuity, 20% of final
average compensation on | 6 |
| account of each such child and 10% of final average
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| compensation divided pro rata among such children, subject to a | 8 |
| maximum
payment on account of all survivor annuity | 9 |
| beneficiaries of $600 per month,
or 80% of the member's final | 10 |
| average compensation, whichever is the lesser.
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| (c) If the survivors annuity beneficiary or beneficiaries | 12 |
| consists of
an unmarried child or children, the amount of | 13 |
| survivors annuity shall be
20% of final average compensation to | 14 |
| each child, and 10% of final average
compensation divided pro | 15 |
| rata among all such children entitled to such annuity,
subject | 16 |
| to a maximum payment to all children combined of $600 per month
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| or 80% of the member's final average compensation, whichever is | 18 |
| the lesser.
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| (d) If the survivors annuity beneficiary is one or more | 20 |
| dependent parents,
the annuity shall be 20% of final average | 21 |
| compensation to each parent and
10% of final average | 22 |
| compensation divided pro rata among the parents who
qualify for | 23 |
| this annuity, subject to a maximum payment to both dependent
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| parents of $400 per month.
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| (e) The survivors annuity to the spouse, children or | 26 |
| dependent parents of
a member whose death occurs after the date | 27 |
| of last withdrawal, or after
retirement, or while in service | 28 |
| following reentry into service after
retirement but before | 29 |
| completing 1 1/2 years of additional creditable
service, shall | 30 |
| not exceed the lesser of 80% of the member's earned
retirement | 31 |
| annuity at the date of death or the maximum previously
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| established in this Section.
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| (f) In applying the limitation prescribed on the combined | 34 |
| payments to
2 or more survivors annuity beneficiaries, the | 35 |
| annuity on account of each
beneficiary shall be reduced pro | 36 |
| rata until such time as the number of
beneficiaries makes the |
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HB4642 |
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LRB093 14988 LRD 40557 b |
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| reduction no longer applicable.
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| (g) A survivors annuity payable on account of any covered | 3 |
| employee who
shall have been a covered employee for at least 18 | 4 |
| months at date of death
or last withdrawal, whichever is the | 5 |
| later, shall be reduced by 1/2 of the
survivors benefits to | 6 |
| which his beneficiaries are eligible under the federal
Social | 7 |
| Security Act, except that (1) the survivors annuity payable
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| under this Article shall not be reduced by any increase under | 9 |
| that Act
which occurs after the offset required by this | 10 |
| subsection is first applied
to that annuity, and (2) for | 11 |
| benefits granted on or after January 1,
1992, the offset under | 12 |
| this subsection (g) shall not exceed 50% of the
amount of | 13 |
| survivors annuity otherwise payable.
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| (h) The minimum payment to a beneficiary hereunder shall be | 15 |
| $60 per month,
which shall be reduced in accordance with the | 16 |
| limitation prescribed on the
combined payments to all | 17 |
| beneficiaries of a member.
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| (i) Subject to the conditions set forth in Section 14-120, | 19 |
| the minimum
total survivors annuity benefit payable to the | 20 |
| survivors annuity beneficiaries
of a deceased member or | 21 |
| annuitant whose death occurs on or after January
1, 1984, shall | 22 |
| be 50% of the amount of retirement annuity that was or would
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| have been payable to the deceased on the date of death, | 24 |
| regardless of the
age of the deceased on such date. If the | 25 |
| minimum total benefit provided
by this subsection exceeds the | 26 |
| maximum otherwise imposed by this Section,
the minimum total | 27 |
| benefit shall nevertheless be payable. Any increase in
the | 28 |
| total survivors annuity benefit resulting from the operation of | 29 |
| this
subsection shall be divided among the survivors annuity | 30 |
| beneficiaries of
the deceased in proportion to their shares of | 31 |
| the total survivors annuity
benefit otherwise payable under | 32 |
| this Section.
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| (j) Any survivors annuity beneficiary whose annuity | 34 |
| terminates due to any
condition specified in this Article other | 35 |
| than death shall be entitled to
a refund of the excess, if any, | 36 |
| of the accumulated contributions of the
member plus credited |
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HB4642 |
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LRB093 14988 LRD 40557 b |
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| interest over all payments to the member and beneficiary
or | 2 |
| beneficiaries, exclusive of the single sum payment of $1,000, | 3 |
| provided
no future survivors or reversionary annuity benefits | 4 |
| are payable.
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| (k) Upon the death of the last eligible recipient of a | 6 |
| survivors
annuity the excess, if any, of the member's | 7 |
| accumulated contributions plus
credited interest over all | 8 |
| annuity payments to the member and survivors
exclusive of the | 9 |
| single sum payment of $1000, shall be paid to the named
| 10 |
| beneficiary of the last eligible survivor, or if none has been | 11 |
| named, to
the estate of the last eligible survivor, provided no | 12 |
| reversionary annuity
is payable.
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| (l) On January 1, 1981, any survivor who was receiving a | 14 |
| survivors
annuity on or before January 1, 1971, shall have his | 15 |
| survivors annuity then
being paid increased by 1% for each full | 16 |
| year which has elapsed from the
date the annuity began. On | 17 |
| January 1, 1982, any survivor who began receiving
a survivor's | 18 |
| annuity after January 1, 1971, but before January 1, 1981,
| 19 |
| shall have his survivor's annuity then being paid increased by | 20 |
| 1% for each
full year that has elapsed from the date the | 21 |
| annuity began.
On January 1, 1987, any survivor who began | 22 |
| receiving a survivor's annuity
on or before January 1, 1977, | 23 |
| shall have the monthly survivor's annuity
increased by $1 for | 24 |
| each full year which has elapsed since the date the
survivor's | 25 |
| annuity began.
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| (m) Beginning January 1, 1990, every survivor's annuity | 27 |
| shall be increased
(1) on each January 1 occurring on or after | 28 |
| the commencement of the annuity if
the deceased member died | 29 |
| while receiving a retirement annuity, or (2) in
other cases, on | 30 |
| each January 1 occurring on or after the first anniversary
of | 31 |
| the commencement of the annuity, by an amount equal to 3% of | 32 |
| the current
amount of the annuity, including any previous | 33 |
| increases under this Article.
Such increases shall apply | 34 |
| without regard to whether the deceased member
was in service on | 35 |
| or after the effective date of Public Act 86-1488,
but shall | 36 |
| not accrue for any period prior to January 1, 1990.
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HB4642 |
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LRB093 14988 LRD 40557 b |
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| (n) On January 1, 2005, every survivor who began receiving | 2 |
| a survivor's
annuity on or before January 1, 1991 shall have | 3 |
| the monthly survivor's annuity
increased by an amount equal to | 4 |
| 25˘ multiplied by the number of full years of
the deceased's | 5 |
| creditable service multiplied by the sum of (i) the number of
| 6 |
| full years that have elapsed since the survivor's annuity began | 7 |
| and (ii) the
number of full years, if any, during which the | 8 |
| deceased received a retirement
annuity under this Article.
| 9 |
| Every survivor who begins receiving a survivor's annuity after | 10 |
| January 1,
1991 and before January 1, 2005 shall have the | 11 |
| monthly survivor's annuity
increased on January 1, 2005 or on | 12 |
| the January 1 occurring on or next following
the seventh | 13 |
| anniversary of the commencement of the survivor's annuity,
| 14 |
| whichever is later, by an amount equal
to 25˘ multiplied by the | 15 |
| number of full years of the deceased's creditable
service | 16 |
| multiplied by the sum of (i) the number of full years that have | 17 |
| elapsed
since the survivor's annuity began and (ii) the number | 18 |
| of full years, if any,
during which the deceased received a | 19 |
| retirement annuity under this Article.
The increase under this | 20 |
| subsection shall be included in the calculation of
increases | 21 |
| granted simultaneously or thereafter under subsection (m).
| 22 |
| (Source: P.A. 86-273; 86-1488; 87-794.)
| 23 |
| (40 ILCS 5/15-136) (from Ch. 108 1/2, par. 15-136)
| 24 |
| Sec. 15-136. Retirement annuities - Amount. The provisions | 25 |
| of this
Section 15-136 apply only to those participants who are | 26 |
| participating in the
traditional benefit package or the | 27 |
| portable benefit package and do not
apply to participants who | 28 |
| are participating in the self-managed plan.
| 29 |
| (a) The amount of a participant's retirement annuity, | 30 |
| expressed in the form
of a single-life annuity, shall be | 31 |
| determined by whichever of the following
rules is applicable | 32 |
| and provides the largest annuity:
| 33 |
| Rule 1: The retirement annuity shall be 1.67% of final rate | 34 |
| of earnings for
each of the first 10 years of service, 1.90% | 35 |
| for each of the next 10 years of
service, 2.10% for each year |
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HB4642 |
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LRB093 14988 LRD 40557 b |
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| of service in excess of 20 but not exceeding 30,
and 2.30% for | 2 |
| each year in excess of 30; or for persons who retire on or
| 3 |
| after January 1, 1998, 2.2% of the final rate of earnings for | 4 |
| each year of
service.
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| Rule 2: The retirement annuity shall be the sum of the | 6 |
| following,
determined from amounts credited to the participant | 7 |
| in accordance with the
actuarial tables and the prescribed rate | 8 |
| of interest in effect at the
time the retirement annuity | 9 |
| begins:
| 10 |
| (i) the normal annuity which can be provided on an | 11 |
| actuarially
equivalent basis, by the accumulated normal | 12 |
| contributions as of
the date the annuity begins;
| 13 |
| (ii) an annuity from employer contributions of an | 14 |
| amount equal to that
which can be provided on an | 15 |
| actuarially equivalent basis from the accumulated
normal | 16 |
| contributions made by the participant under Section | 17 |
| 15-113.6 and Section
15-113.7 plus 1.4 times all other | 18 |
| accumulated normal contributions made by
the participant; | 19 |
| and
| 20 |
| (iii) the annuity that can be provided on an | 21 |
| actuarially equivalent basis
from the entire contribution | 22 |
| made by the participant under Section 15-113.3.
| 23 |
| With respect to a police officer or firefighter who retires | 24 |
| on or after
August 14, 1998, the accumulated normal | 25 |
| contributions taken into account under
clauses (i) and (ii) of | 26 |
| this Rule 2 shall include the additional normal
contributions | 27 |
| made by the police officer or firefighter under Section
| 28 |
| 15-157(a).
| 29 |
| The amount of a retirement annuity calculated under this | 30 |
| Rule 2 shall
be computed solely on the basis of the | 31 |
| participant's accumulated normal
contributions, as specified | 32 |
| in this Rule and defined in Section 15-116.
Neither an employee | 33 |
| or employer contribution for early retirement under
Section | 34 |
| 15-136.2 nor any other employer contribution shall be used in | 35 |
| the
calculation of the amount of a retirement annuity under | 36 |
| this Rule 2.
|
|
|
|
HB4642 |
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LRB093 14988 LRD 40557 b |
|
| 1 |
| This amendatory Act of the 91st General Assembly is a | 2 |
| clarification of
existing law and applies to every participant | 3 |
| and annuitant without regard to
whether status as an employee | 4 |
| terminates before the effective date of this
amendatory Act.
| 5 |
| Rule 3: The retirement annuity of a participant who is | 6 |
| employed
at least one-half time during the period on which his | 7 |
| or her final rate of
earnings is based, shall be equal to the | 8 |
| participant's years of service
not to exceed 30, multiplied by | 9 |
| (1) $96 if the participant's final rate
of earnings is less | 10 |
| than $3,500, (2) $108 if the final rate of earnings is
at least | 11 |
| $3,500 but less than $4,500, (3) $120 if the final rate of | 12 |
| earnings
is at least $4,500 but less than $5,500, (4) $132 if | 13 |
| the final rate
of earnings is at least $5,500 but less than | 14 |
| $6,500, (5)
$144 if the final rate of earnings is at least | 15 |
| $6,500 but less than
$7,500, (6) $156 if the final rate of | 16 |
| earnings is at least $7,500 but less
than $8,500, (7) $168 if | 17 |
| the final rate of earnings is at least $8,500 but
less than | 18 |
| $9,500, and (8) $180 if the final rate of earnings is $9,500 or
| 19 |
| more, except that the annuity for those persons having made an | 20 |
| election under
Section 15-154(a-1) shall be calculated and | 21 |
| payable under the portable
retirement benefit program pursuant | 22 |
| to the provisions of Section 15-136.4.
| 23 |
| Rule 4: A participant who is at least age 50 and has 25 or | 24 |
| more years of
service as a police officer or firefighter, and a | 25 |
| participant who is age 55 or
over and has at least 20 but less | 26 |
| than 25 years of service as a police officer
or firefighter, | 27 |
| shall be entitled to a retirement annuity of 2 1/4% of the
| 28 |
| final rate of earnings for each of the first 10 years of | 29 |
| service as a police
officer or firefighter, 2 1/2% for each of | 30 |
| the next 10 years of service as a
police officer or | 31 |
| firefighter, and 2 3/4% for each year of service as a police
| 32 |
| officer or firefighter in excess of 20. The retirement annuity | 33 |
| for all other
service shall be computed under Rule 1.
| 34 |
| For purposes of this Rule 4, a participant's service as a | 35 |
| firefighter
shall also include the following:
| 36 |
| (i) service that is performed while the person is an |
|
|
|
HB4642 |
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LRB093 14988 LRD 40557 b |
|
| 1 |
| employee under
subsection (h) of Section 15-107; and
| 2 |
| (ii) in the case of an individual who was a | 3 |
| participating employee
employed in the fire department of | 4 |
| the University of Illinois's
Champaign-Urbana campus | 5 |
| immediately prior to the elimination of that fire
| 6 |
| department and who immediately after the elimination of | 7 |
| that fire department
transferred to another job with the | 8 |
| University of Illinois, service performed
as an employee of | 9 |
| the University of Illinois in a position other than police
| 10 |
| officer or firefighter, from the date of that transfer | 11 |
| until the employee's
next termination of service with the | 12 |
| University of Illinois.
| 13 |
| Rule 5: The retirement annuity of a participant who elected | 14 |
| early
retirement under the provisions of Section 15-136.2 and | 15 |
| who, on or before
February 16, 1995, brought administrative | 16 |
| proceedings pursuant to the
administrative rules adopted by the | 17 |
| System to challenge the calculation of his
or her retirement | 18 |
| annuity shall be the sum of the following, determined from
| 19 |
| amounts credited to the participant in accordance with the | 20 |
| actuarial tables and
the prescribed rate of interest in effect | 21 |
| at the time the retirement annuity
begins:
| 22 |
| (i) the normal annuity which can be provided on an | 23 |
| actuarially equivalent
basis, by the accumulated normal | 24 |
| contributions as of the date the annuity
begins; and
| 25 |
| (ii) an annuity from employer contributions of an | 26 |
| amount equal to that
which can be provided on an | 27 |
| actuarially equivalent basis from the accumulated
normal | 28 |
| contributions made by the participant under Section | 29 |
| 15-113.6 and Section
15-113.7 plus 1.4 times all other | 30 |
| accumulated normal contributions made by the
participant; | 31 |
| and
| 32 |
| (iii) an annuity which can be provided on an | 33 |
| actuarially equivalent basis
from the employee | 34 |
| contribution for early retirement under Section 15-136.2, | 35 |
| and
an annuity from employer contributions of an amount | 36 |
| equal to that which can be
provided on an actuarially |
|
|
|
HB4642 |
- 14 - |
LRB093 14988 LRD 40557 b |
|
| 1 |
| equivalent basis from the employee contribution for
early | 2 |
| retirement under Section 15-136.2.
| 3 |
| In no event shall a retirement annuity under this Rule 5 be | 4 |
| lower than the
amount obtained by adding (1) the monthly amount | 5 |
| obtained by dividing the
combined employee and employer | 6 |
| contributions made under Section 15-136.2 by the
System's | 7 |
| annuity factor for the age of the participant at the beginning | 8 |
| of the
annuity payment period and (2) the amount equal to the | 9 |
| participant's annuity if
calculated under Rule 1, reduced under | 10 |
| Section 15-136(b) as if no
contributions had been made under | 11 |
| Section 15-136.2.
| 12 |
| With respect to a participant who is qualified for a | 13 |
| retirement annuity under
this Rule 5 whose retirement annuity | 14 |
| began before the effective date of this
amendatory Act of the | 15 |
| 91st General Assembly, and for whom an employee
contribution | 16 |
| was made under Section 15-136.2, the System shall recalculate | 17 |
| the
retirement annuity under this Rule 5 and shall pay any | 18 |
| additional amounts due
in the manner provided in Section | 19 |
| 15-186.1 for benefits mistakenly set too low.
| 20 |
| The amount of a retirement annuity calculated under this | 21 |
| Rule 5 shall be
computed solely on the basis of those | 22 |
| contributions specifically set forth in
this Rule 5. Except as | 23 |
| provided in clause (iii) of this Rule 5, neither an
employee | 24 |
| nor employer contribution for early retirement under Section | 25 |
| 15-136.2,
nor any other employer contribution, shall be used in | 26 |
| the calculation of the
amount of a retirement annuity under | 27 |
| this Rule 5.
| 28 |
| The General Assembly has adopted the changes set forth in | 29 |
| Section 25 of this
amendatory Act of the 91st General Assembly | 30 |
| in recognition that the decision of
the Appellate Court for the | 31 |
| Fourth District in Mattis v. State Universities
Retirement | 32 |
| System et al. might be deemed to give some right to the | 33 |
| plaintiff in
that case. The changes made by Section 25 of this | 34 |
| amendatory Act of the 91st
General Assembly are a legislative | 35 |
| implementation of the decision of the
Appellate Court for the | 36 |
| Fourth District in Mattis v. State Universities
Retirement |
|
|
|
HB4642 |
- 15 - |
LRB093 14988 LRD 40557 b |
|
| 1 |
| System et al. with respect to that plaintiff.
| 2 |
| The changes made by Section 25 of this amendatory Act of | 3 |
| the 91st General
Assembly apply without regard to whether the | 4 |
| person is in service as an
employee on or after its effective | 5 |
| date.
| 6 |
| (b) The retirement annuity provided under Rules 1 and 3 | 7 |
| above shall be
reduced by 1/2 of 1% for each month the | 8 |
| participant is under age 60 at the
time of retirement. However, | 9 |
| this reduction shall not apply in the following
cases:
| 10 |
| (1) For a disabled participant whose disability | 11 |
| benefits have been
discontinued because he or she has | 12 |
| exhausted eligibility for disability
benefits under clause | 13 |
| (6) of Section 15-152;
| 14 |
| (2) For a participant who has at least the number of | 15 |
| years of service
required to retire at any age under | 16 |
| subsection (a) of Section 15-135; or
| 17 |
| (3) For that portion of a retirement annuity which has | 18 |
| been provided on
account of service of the participant | 19 |
| during periods when he or she performed
the duties of a | 20 |
| police officer or firefighter, if these duties were | 21 |
| performed
for at least 5 years immediately preceding the | 22 |
| date the retirement annuity
is to begin.
| 23 |
| (c) The maximum retirement annuity provided under Rules 1, | 24 |
| 2, 4,
and 5
shall be the lesser of (1) the annual limit of | 25 |
| benefits as specified in
Section 415 of the Internal Revenue | 26 |
| Code of 1986, as such Section may be
amended from time to time | 27 |
| and as such benefit limits shall be adjusted by
the | 28 |
| Commissioner of Internal Revenue, and (2) 80% of final rate of
| 29 |
| earnings.
| 30 |
| (d) An annuitant whose status as an employee terminates | 31 |
| after August 14,
1969 shall receive automatic increases in his | 32 |
| or her retirement annuity as
follows:
| 33 |
| Effective January 1 immediately following the date the | 34 |
| retirement annuity
begins, the annuitant shall receive an | 35 |
| increase in his or her monthly
retirement annuity of 0.125% of | 36 |
| the monthly retirement annuity provided under
Rule 1, Rule 2, |
|
|
|
HB4642 |
- 16 - |
LRB093 14988 LRD 40557 b |
|
| 1 |
| Rule 3, Rule 4, or Rule 5, contained in this
Section, | 2 |
| multiplied by
the number of full months which elapsed from the | 3 |
| date the retirement annuity
payments began to January 1, 1972, | 4 |
| plus 0.1667% of such annuity, multiplied by
the number of full | 5 |
| months which elapsed from January 1, 1972, or the date the
| 6 |
| retirement annuity payments began, whichever is later, to | 7 |
| January 1, 1978, plus
0.25% of such annuity multiplied by the | 8 |
| number of full months which elapsed
from January 1, 1978, or | 9 |
| the date the retirement annuity payments began,
whichever is | 10 |
| later, to the effective date of the increase.
| 11 |
| The annuitant shall receive an increase in his or her | 12 |
| monthly retirement
annuity on each January 1 thereafter during | 13 |
| the annuitant's life of 3% of
the monthly annuity provided | 14 |
| under Rule 1, Rule 2, Rule 3, Rule 4, or
Rule 5 contained
in | 15 |
| this Section. The change made under this subsection by P.A. | 16 |
| 81-970 is
effective January 1, 1980 and applies to each | 17 |
| annuitant whose status as
an employee terminates before or | 18 |
| after that date.
| 19 |
| Beginning January 1, 1990, all automatic annual increases | 20 |
| payable under
this Section shall be calculated as a percentage | 21 |
| of the total annuity
payable at the time of the increase, | 22 |
| including all increases previously
granted under this Article.
| 23 |
| The change made in this subsection by P.A. 85-1008 is | 24 |
| effective January
26, 1988, and is applicable without regard to | 25 |
| whether status as an employee
terminated before that date.
| 26 |
| (e) If, on January 1, 1987, or the date the retirement | 27 |
| annuity payment
period begins, whichever is later, the sum of | 28 |
| the retirement annuity
provided under Rule 1 or Rule 2 of this | 29 |
| Section
and the automatic annual increases provided under the | 30 |
| preceding subsection
or Section 15-136.1, amounts to less than | 31 |
| the retirement
annuity which would be provided by Rule 3, the | 32 |
| retirement
annuity shall be increased as of January 1, 1987, or | 33 |
| the date the
retirement annuity payment period begins, | 34 |
| whichever is later, to the amount
which would be provided by | 35 |
| Rule 3 of this Section. Such increased
amount shall be | 36 |
| considered as the retirement annuity in determining
benefits |
|
|
|
HB4642 |
- 17 - |
LRB093 14988 LRD 40557 b |
|
| 1 |
| provided under other Sections of this Article. This paragraph
| 2 |
| applies without regard to whether status as an employee | 3 |
| terminated before the
effective date of this amendatory Act of | 4 |
| 1987, provided that the annuitant was
employed at least | 5 |
| one-half time during the period on which the final rate of
| 6 |
| earnings was based.
| 7 |
| (f) A participant is entitled to such additional annuity as | 8 |
| may be provided
on an actuarially equivalent basis, by any | 9 |
| accumulated
additional contributions to his or her credit. | 10 |
| However,
the additional contributions made by the participant | 11 |
| toward the automatic
increases in annuity provided under this | 12 |
| Section shall not be taken into
account in determining the | 13 |
| amount of such additional annuity.
| 14 |
| (g) If, (1) by law, a function of a governmental unit, as | 15 |
| defined by Section
20-107 of this Code, is transferred in whole | 16 |
| or in part to an employer, and (2)
a participant transfers | 17 |
| employment from such governmental unit to such employer
within | 18 |
| 6 months after the transfer of the function, and (3) the sum of | 19 |
| (A) the
annuity payable to the participant under Rule 1, 2, or | 20 |
| 3 of this Section (B)
all proportional annuities payable to the | 21 |
| participant by all other retirement
systems covered by Article | 22 |
| 20, and (C) the initial primary insurance amount to
which the | 23 |
| participant is entitled under the Social Security Act, is less | 24 |
| than
the retirement annuity which would have been payable if | 25 |
| all of the
participant's pension credits validated under | 26 |
| Section 20-109 had been validated
under this system, a | 27 |
| supplemental annuity equal to the difference in such
amounts | 28 |
| shall be payable to the participant.
| 29 |
| (h) On January 1, 1981, an annuitant who was receiving
a | 30 |
| retirement annuity on or before January 1, 1971 shall have his | 31 |
| or her
retirement annuity then being paid increased $1 per | 32 |
| month for
each year of creditable service. On January 1, 1982, | 33 |
| an annuitant whose
retirement annuity began on or before | 34 |
| January 1, 1977, shall have his or her
retirement annuity then | 35 |
| being paid increased $1 per month for each year of
creditable | 36 |
| service.
|
|
|
|
HB4642 |
- 18 - |
LRB093 14988 LRD 40557 b |
|
| 1 |
| (i) On January 1, 1987, any annuitant whose retirement | 2 |
| annuity began on or
before January 1, 1977, shall have the | 3 |
| monthly retirement annuity increased by
an amount equal to 8˘ | 4 |
| per year of creditable service times the number of years
that | 5 |
| have elapsed since the annuity began.
| 6 |
| (j) On January 1, 2005, every annuitant who began receiving | 7 |
| a retirement
annuity on or before January 1, 1991 shall have | 8 |
| the monthly retirement annuity
increased by an amount equal to | 9 |
| 25˘ multiplied by the number of full years of
creditable | 10 |
| service multiplied by the number of full years that have | 11 |
| elapsed
since the annuity began. Every annuitant who begins | 12 |
| receiving a retirement
annuity after January 1, 1991 and before | 13 |
| January 1, 1998 shall have the monthly
retirement annuity | 14 |
| increased on January 1, 2005 or on the January 1 occurring
on | 15 |
| or next following the seventh anniversary of retirement, | 16 |
| whichever is later,
by an amount equal to $1.75 multiplied
by | 17 |
| the number of full years of creditable service upon which the | 18 |
| retirement
annuity is based. The increase under this subsection | 19 |
| shall be included in the
calculation of increases granted | 20 |
| simultaneously or thereafter under subsection
(d). | 21 |
| (Source: P.A. 92-16, eff. 6-28-01; 93-347, eff. 7-24-03.)
| 22 |
| (40 ILCS 5/15-136.3)
| 23 |
| Sec. 15-136.3. Minimum retirement annuity.
| 24 |
| (a) Beginning January 1, 1997, any person who is receiving | 25 |
| a monthly
retirement annuity under this Article which, after | 26 |
| inclusion of (1) all
one-time and automatic annual increases to | 27 |
| which the person is entitled, (2)
any supplemental annuity | 28 |
| payable under Section 15-136.1, and (3) any amount
deducted | 29 |
| under Section 15-138 or 15-140 to provide a reversionary | 30 |
| annuity, is
less than the minimum monthly retirement benefit | 31 |
| amount specified in subsection
(b) of this Section, shall be | 32 |
| entitled to a monthly supplemental payment equal
to the | 33 |
| difference.
| 34 |
| (b) For purposes of the calculation in subsection (a), the | 35 |
| minimum monthly
retirement benefit amount is the sum of $25 for |
|
|
|
HB4642 |
- 19 - |
LRB093 14988 LRD 40557 b |
|
| 1 |
| each year of service credit, up
to a maximum of 30 years of | 2 |
| service , plus the amount of the increase received
by the | 3 |
| annuitant under subsection (j) of Section 15-136, if any .
| 4 |
| (c) This Section applies to all persons receiving a | 5 |
| retirement annuity under
this Article, without regard to | 6 |
| whether or not employment terminated prior to
the effective | 7 |
| date of this Section.
| 8 |
| (Source: P.A. 89-616, eff. 8-9-96.)
| 9 |
| (40 ILCS 5/15-145) (from Ch. 108 1/2, par. 15-145)
| 10 |
| Sec. 15-145. Survivors insurance benefits; conditions and | 11 |
| amounts.
| 12 |
| (a) The survivors insurance benefits provided under this | 13 |
| Section shall
be payable to the eligible survivors of a | 14 |
| participant covered under the
traditional benefit package upon | 15 |
| the death of (1) a participating employee
with at least 1 1/2 | 16 |
| years of service, (2) a participant who terminated
employment | 17 |
| with at least 10 years of service, and (3) an annuitant in | 18 |
| receipt
of a retirement annuity or disability retirement | 19 |
| annuity under this Article.
| 20 |
| Service under the State Employees' Retirement System of | 21 |
| Illinois, the
Teachers' Retirement System of the State of | 22 |
| Illinois and the Public School
Teachers' Pension and Retirement | 23 |
| Fund of Chicago shall be considered in
determining eligibility | 24 |
| for survivors benefits under this Section.
| 25 |
| If by law, a function of a governmental unit, as defined by | 26 |
| Section 20-107,
is transferred in whole or in part to an | 27 |
| employer, and an employee transfers
employment from this | 28 |
| governmental unit to such employer within 6 months after
the | 29 |
| transfer of this function, the service credits in the | 30 |
| governmental unit's
retirement system which have been | 31 |
| validated under Section 20-109 shall be
considered in | 32 |
| determining eligibility for survivors benefits under this
| 33 |
| Section.
| 34 |
| (b) A surviving spouse of a deceased participant, or of a | 35 |
| deceased
annuitant who did not take a refund or additional |
|
|
|
HB4642 |
- 20 - |
LRB093 14988 LRD 40557 b |
|
| 1 |
| annuity consisting of
accumulated survivors insurance | 2 |
| contributions, shall receive a survivors
annuity of 30% of the | 3 |
| final rate of earnings. Payments shall begin on the
day | 4 |
| following the participant's or annuitant's death or the date | 5 |
| the surviving
spouse attains age 50, whichever is later, and | 6 |
| continue until the death of the
surviving spouse. The annuity | 7 |
| shall be payable to the surviving spouse prior
to attainment of | 8 |
| age 50 if the surviving spouse has in his or her care a
| 9 |
| deceased participant's or annuitant's dependent unmarried | 10 |
| child under age 18
(under age 22 if a full-time student) who is | 11 |
| eligible for a survivors annuity.
| 12 |
| Remarriage of a surviving spouse prior to attainment of age | 13 |
| 55 that occurs
before the effective date of this amendatory Act | 14 |
| of the 91st General Assembly
shall disqualify him or her for | 15 |
| the receipt of a survivors annuity until July
6, 2000.
| 16 |
| A surviving spouse whose survivors annuity has been | 17 |
| terminated due to
remarriage may apply for reinstatement of | 18 |
| that
annuity. The reinstated annuity shall begin to accrue on | 19 |
| July 6, 2000, except
that if, on July 6, 2000, the annuity is | 20 |
| payable to an eligible surviving
child or parent, payment of | 21 |
| the annuity to the surviving spouse shall not be
reinstated | 22 |
| until the annuity is no longer payable to any eligible | 23 |
| surviving
child or parent. The reinstated annuity shall include | 24 |
| any one-time or annual
increases received prior to the date of | 25 |
| termination, as well as any increases
that would otherwise have | 26 |
| accrued from the date of termination to the date of
| 27 |
| reinstatement.
An eligible surviving spouse whose expectation | 28 |
| of receiving a survivors
annuity was lost due to remarriage | 29 |
| before attainment of age 50 shall also be
entitled to | 30 |
| reinstatement under this subsection, but the resulting | 31 |
| survivors
annuity shall not begin to accrue sooner than upon | 32 |
| the surviving spouse's
attainment of age 50.
| 33 |
| The changes made to this subsection by this amendatory Act | 34 |
| of the 92nd
General Assembly (pertaining to remarriage prior to | 35 |
| age 55 or 50) apply without
regard to whether the deceased | 36 |
| participant or annuitant was in service on or
after the |
|
|
|
HB4642 |
- 21 - |
LRB093 14988 LRD 40557 b |
|
| 1 |
| effective date of this amendatory Act.
| 2 |
| (c) Each dependent unmarried child under age 18 (under age | 3 |
| 22 if a
full-time student) of a deceased participant, or of a | 4 |
| deceased annuitant who
did not take a refund or additional | 5 |
| annuity consisting of accumulated survivors
insurance | 6 |
| contributions,
shall receive a survivors annuity equal to the | 7 |
| sum of (1) 20% of the final rate
of earnings, and (2) 10% of the | 8 |
| final rate of earnings divided by the number of
children | 9 |
| entitled to this benefit. Payments shall begin on the day | 10 |
| following
the participant's or annuitant's death and continue | 11 |
| until the child marries,
dies, or attains age 18 (age 22 if a | 12 |
| full-time student). If the child
is in the care of a surviving | 13 |
| spouse who is eligible for survivors insurance
benefits, the | 14 |
| child's benefit shall be paid to the surviving spouse.
| 15 |
| Each unmarried child over age 18 of a deceased participant | 16 |
| or of a deceased
annuitant who had a survivor's insurance | 17 |
| beneficiary at the time of his or her
retirement, and who was | 18 |
| dependent upon the participant or annuitant by reason
of a | 19 |
| physical or mental disability which began prior to the date the | 20 |
| child
attained age 18 (age 22 if a full-time student), shall | 21 |
| receive a survivor's
annuity equal to the
sum of (1) 20% of the | 22 |
| final rate of earnings, and (2) 10% of the final rate
of | 23 |
| earnings divided by the number of children entitled to | 24 |
| survivors
benefits. Payments shall begin on the day following | 25 |
| the participant's or
annuitant's death and continue until the | 26 |
| child marries, dies, or is no
longer disabled. If the child is | 27 |
| in the care of a surviving spouse who is
eligible for survivors | 28 |
| insurance benefits, the child's benefit may be paid
to the | 29 |
| surviving spouse. For the purposes of this Section, disability
| 30 |
| means inability to engage in any substantial gainful activity | 31 |
| by reason of
any medically determinable physical or mental | 32 |
| impairment that can be
expected to result in death or that has | 33 |
| lasted or can be expected to last
for a continuous period of at | 34 |
| least one year.
| 35 |
| (d) Each dependent parent of a deceased participant, or of | 36 |
| a deceased
annuitant who did not take a refund or additional |
|
|
|
HB4642 |
- 22 - |
LRB093 14988 LRD 40557 b |
|
| 1 |
| annuity consisting of
accumulated survivors insurance | 2 |
| contributions, shall receive a survivors
annuity equal to the | 3 |
| sum of (1) 20% of
final rate of earnings, and (2) 10% of final | 4 |
| rate of earnings divided by the
number of parents who qualify | 5 |
| for the benefit. Payments shall begin when the
parent reaches | 6 |
| age 55 or the day following the participant's or annuitant's
| 7 |
| death, whichever is later, and continue until the parent dies. | 8 |
| Remarriage of
a parent prior to attainment of age 55 shall | 9 |
| disqualify the parent for the
receipt of a survivors annuity.
| 10 |
| (e) In addition to the survivors annuity provided above, | 11 |
| each
survivors insurance beneficiary shall, upon death of the | 12 |
| participant or
annuitant, receive a lump sum payment of $1,000 | 13 |
| divided by the number
of such beneficiaries.
| 14 |
| (f) The changes made in this Section by Public Act 81-712 | 15 |
| pertaining
to survivors annuities in cases of remarriage prior | 16 |
| to age 55
shall apply to each survivors insurance beneficiary | 17 |
| who
remarries after June 30, 1979, regardless of the date that | 18 |
| the
participant or annuitant terminated his employment or died.
| 19 |
| The change made to this Section by this amendatory Act of | 20 |
| the 91st General
Assembly, pertaining to remarriage prior to | 21 |
| age 55, applies without regard to
whether the deceased | 22 |
| participant or annuitant was in service on or after the
| 23 |
| effective date of this amendatory Act of the 91st General | 24 |
| Assembly.
| 25 |
| (g) On January 1, 1981, any person who was receiving
a | 26 |
| survivors annuity on or before January 1, 1971 shall have the
| 27 |
| survivors annuity then being paid increased by 1% for each full | 28 |
| year which
has elapsed from the date the annuity began. On | 29 |
| January 1, 1982, any
survivor whose annuity began after January | 30 |
| 1, 1971, but before January 1,
1981, shall have the survivor's | 31 |
| annuity then being paid increased by 1% for
each year which has | 32 |
| elapsed from the date the survivor's annuity began.
On January | 33 |
| 1, 1987, any survivor who began receiving a survivor's annuity
| 34 |
| on or before January 1, 1977, shall have the monthly survivor's | 35 |
| annuity
increased by $1 for each full year which has elapsed | 36 |
| since the date the
survivor's annuity began.
|
|
|
|
HB4642 |
- 23 - |
LRB093 14988 LRD 40557 b |
|
| 1 |
| (g-1) On January 1, 2005, every survivor who began | 2 |
| receiving a survivor's
annuity on or before January 1, 1991 | 3 |
| shall have the monthly survivor's annuity
increased by an | 4 |
| amount equal to 25˘ multiplied by the number of full years of
| 5 |
| the deceased's creditable service multiplied by the sum of (i) | 6 |
| the number of
full years that have elapsed since the survivor's | 7 |
| annuity began and (ii) the
number of full years, if any, during | 8 |
| which the deceased received a retirement
annuity under this | 9 |
| Article.
Every survivor who begins receiving a survivor's | 10 |
| annuity after January 1,
1991 and before January 1, 2005 shall | 11 |
| have the monthly survivor's annuity
increased on January 1, | 12 |
| 2005 or on the January 1 occurring on or next
following the | 13 |
| seventh anniversary of the commencement of the survivor's
| 14 |
| annuity, whichever is later, by an amount equal
to 25˘ | 15 |
| multiplied by the number of full years of the deceased's | 16 |
| creditable
service multiplied by the sum of (i) the number of | 17 |
| full years that have elapsed
since the survivor's annuity began | 18 |
| and (ii) the number of full years, if any,
during which the | 19 |
| deceased received a retirement annuity under this Article.
The | 20 |
| increase under this subsection shall be included in the | 21 |
| calculation of
increases granted simultaneously or thereafter | 22 |
| under subsection (j).
| 23 |
| (h) If the sum of the lump sum and total monthly survivor | 24 |
| benefits
payable under this Section upon the death of a | 25 |
| participant amounts to less
than the sum of the death benefits | 26 |
| payable under items (2) and (3) of
Section 15-141, the | 27 |
| difference shall be paid in a lump sum to the
beneficiary of | 28 |
| the participant who is living on the date that this
additional | 29 |
| amount becomes payable.
| 30 |
| (i) If the sum of the lump sum and total monthly survivor | 31 |
| benefits payable
under this Section upon the death of an | 32 |
| annuitant receiving a retirement
annuity or disability | 33 |
| retirement annuity amounts to less than the death
benefit | 34 |
| payable under Section 15-142, the difference shall be paid to | 35 |
| the
beneficiary of the annuitant who is living on the date that | 36 |
| this
additional amount becomes payable.
|
|
|
|
HB4642 |
- 24 - |
LRB093 14988 LRD 40557 b |
|
| 1 |
| (j) Effective on the later of (1) January 1, 1990, or (2) | 2 |
| the
January 1 on or next after the date on which the survivor | 3 |
| annuity begins,
if the deceased member died while receiving a | 4 |
| retirement annuity, or in all
other cases the January 1 nearest | 5 |
| the first
anniversary of the date the survivor annuity payments | 6 |
| begin, every survivors
insurance beneficiary shall receive an | 7 |
| increase in
his or her monthly survivors annuity of 3%. On each | 8 |
| January 1 after the
initial increase, the monthly survivors | 9 |
| annuity shall be increased by 3% of
the total survivors annuity | 10 |
| provided under this Article, including previous
increases | 11 |
| provided by this subsection. Such increases shall apply to the
| 12 |
| survivors insurance beneficiaries of each participant and | 13 |
| annuitant,
whether or not the employment status of the | 14 |
| participant or annuitant
terminates before the effective date | 15 |
| of this amendatory Act of 1990. This
subsection (j) also | 16 |
| applies to persons receiving a survivor annuity
under the | 17 |
| portable benefit package.
| 18 |
| (k) If the Internal Revenue Code of 1986, as amended, | 19 |
| requires that the
survivors benefits be payable at an age | 20 |
| earlier than that specified in this
Section the benefits shall | 21 |
| begin at the earlier age, in which event, the
survivor's | 22 |
| beneficiary shall be entitled only to that amount which is | 23 |
| equal
to the actuarial equivalent of the benefits provided by | 24 |
| this Section.
| 25 |
| (l) The changes made to this Section and Section 15-131 by | 26 |
| this amendatory
Act of 1997, relating to benefits for certain | 27 |
| unmarried children who are
full-time students under age 22, | 28 |
| apply without regard to whether the deceased
member was in | 29 |
| service on or after the effective date of this amendatory Act
| 30 |
| of 1997. These changes do not authorize the repayment of a | 31 |
| refund or a
re-election of benefits, and any benefit or | 32 |
| increase in benefits resulting
from these changes is not | 33 |
| payable retroactively for any period before the
effective date | 34 |
| of this amendatory Act of 1997.
| 35 |
| (Source: P.A. 91-887, eff. 7-6-00; 92-749, eff. 8-2-02.)
|
|
|
|
HB4642 |
- 25 - |
LRB093 14988 LRD 40557 b |
|
| 1 |
| (40 ILCS 5/16-133.1) (from Ch. 108 1/2, par. 16-133.1)
| 2 |
| Sec. 16-133.1. Automatic annual increase in annuity.
| 3 |
| (a) Each member with creditable service and retiring on or | 4 |
| after August 26,
1969 is entitled to the automatic annual | 5 |
| increases in annuity provided under
this Section while | 6 |
| receiving a retirement annuity or disability retirement
| 7 |
| annuity from the system.
| 8 |
| An annuitant shall first be entitled to an initial increase | 9 |
| under this
Section on the January 1 next following the first | 10 |
| anniversary of retirement,
or January 1 of the year next | 11 |
| following attainment of age 61, whichever is
later. At such | 12 |
| time, the system shall pay an initial increase determined as
| 13 |
| follows:
| 14 |
| (1) 1.5% of the originally granted retirement annuity | 15 |
| or disability
retirement annuity multiplied by the number | 16 |
| of years elapsed, if any, from the date of retirement
until | 17 |
| January 1, 1972, plus
| 18 |
| (2) 2% of the originally granted annuity multiplied by | 19 |
| the number of
years elapsed, if any, from the date of | 20 |
| retirement or January
1, 1972, whichever is later, until | 21 |
| January 1, 1978, plus
| 22 |
| (3) 3% of the originally granted annuity multiplied by | 23 |
| the number
of years elapsed from the date of retirement or | 24 |
| January 1,
1978, whichever is later, until the effective | 25 |
| date of the initial
increase.
| 26 |
| However, the initial annual increase calculated under this | 27 |
| Section for the
recipient of a disability retirement annuity | 28 |
| granted under Section 16-149.2
shall be reduced by an amount | 29 |
| equal to the total of all increases in that
annuity received | 30 |
| under Section 16-149.5 (but not exceeding 100% of the amount
of | 31 |
| the initial increase otherwise provided under this Section).
| 32 |
| Following the initial increase, automatic annual increases | 33 |
| in annuity shall
be payable on each January 1 thereafter during | 34 |
| the lifetime of the annuitant,
determined as a percentage of | 35 |
| the originally granted retirement annuity
or disability | 36 |
| retirement annuity for increases granted prior to January
1, |
|
|
|
HB4642 |
- 26 - |
LRB093 14988 LRD 40557 b |
|
| 1 |
| 1990, and calculated as a percentage of the total amount of | 2 |
| annuity,
including previous increases under this Section, for | 3 |
| increases granted on
or after January 1, 1990, as follows: 1.5% | 4 |
| for periods prior to January 1,
1972, 2% for periods after | 5 |
| December 31, 1971 and prior to January 1, 1978,
and 3% for | 6 |
| periods after December 31, 1977.
| 7 |
| (b) The automatic annual increases in annuity provided | 8 |
| under this Section
shall not be applicable unless a member has | 9 |
| made contributions toward such
increases for a period | 10 |
| equivalent to one full year of creditable service.
If a member | 11 |
| contributes for service performed after August 26, 1969 but
the | 12 |
| member becomes an annuitant before such contributions amount to | 13 |
| one
full year's contributions based on the salary at the date | 14 |
| of retirement,
he or she may pay the necessary balance of the | 15 |
| contributions to the system
and be eligible for the automatic | 16 |
| annual increases in annuity provided under
this Section.
| 17 |
| (c) Each member shall make contributions toward the cost of | 18 |
| the automatic
annual increases in annuity as provided under | 19 |
| Section 16-152.
| 20 |
| (d) An annuitant receiving a retirement annuity or | 21 |
| disability retirement
annuity on July 1, 1969, who subsequently | 22 |
| re-enters service as a teacher
is eligible for the automatic | 23 |
| annual increases in annuity provided under
this Section if he | 24 |
| or she renders at least one year of creditable service
| 25 |
| following the latest re-entry.
| 26 |
| (e) In addition to the automatic annual increases in | 27 |
| annuity provided
under this Section, an annuitant who meets the | 28 |
| service requirements of this
Section and whose retirement | 29 |
| annuity or disability retirement annuity began
on or before | 30 |
| January 1, 1971 shall receive, on January 1, 1981, an increase
| 31 |
| in the annuity then being paid of one dollar per month for each | 32 |
| year of
creditable service. On January 1, 1982, an annuitant | 33 |
| whose retirement
annuity or disability retirement annuity | 34 |
| began on or before January 1, 1977
shall receive an increase in | 35 |
| the annuity then being paid of one dollar per
month for each | 36 |
| year of creditable service.
|
|
|
|
HB4642 |
- 27 - |
LRB093 14988 LRD 40557 b |
|
| 1 |
| On January 1, 1987, any annuitant whose retirement annuity | 2 |
| began
on or before January 1, 1977, shall receive an increase | 3 |
| in the monthly
retirement annuity equal to 8˘ per year of | 4 |
| creditable service times the
number of years that have elapsed | 5 |
| since the annuity began.
| 6 |
| (f) On January 1, 2005, every annuitant who began receiving | 7 |
| a retirement
annuity on or before January 1, 1991 shall have | 8 |
| the monthly retirement annuity
increased by an amount equal to | 9 |
| 25˘ multiplied by the number of full years of
creditable | 10 |
| service multiplied by the number of full years that have | 11 |
| elapsed
since the annuity began. Every annuitant who begins | 12 |
| receiving a retirement
annuity after January 1, 1991 and before | 13 |
| July 1, 1998 shall have the monthly
retirement annuity | 14 |
| increased on January 1, 2005 or on the January 1 occurring
on | 15 |
| or next following the seventh anniversary of retirement, | 16 |
| whichever is later,
by an amount equal to $1.75 multiplied by | 17 |
| the number of full years of
creditable service upon which the | 18 |
| retirement annuity is based. The increase
under this subsection | 19 |
| shall be included in the calculation of increases granted
| 20 |
| simultaneously or thereafter under subsection
(a).
| 21 |
| (Source: P.A. 91-927, eff. 12-14-00.)
| 22 |
| (40 ILCS 5/16-143.1) (from Ch. 108 1/2, par. 16-143.1)
| 23 |
| Sec. 16-143.1. Increase in survivor benefits.
| 24 |
| (a) Beginning January 1, 1990, each survivor's benefit and | 25 |
| each reversionary
annuity payable under Section 16-136 shall be | 26 |
| increased by 3% of the currently
payable amount thereof (1) on | 27 |
| each January 1 occurring on or after the
commencement of the | 28 |
| annuity if the deceased teacher died while receiving a
| 29 |
| retirement or disability retirement annuity, or (2) in other | 30 |
| cases, on each
January 1 occurring on or after the first | 31 |
| anniversary of the granting of the
benefit, without regard to | 32 |
| whether the deceased teacher was in service on or
after the | 33 |
| effective date of this amendatory Act of 1991, but such | 34 |
| increases
shall not accrue for any period prior to January 1, | 35 |
| 1990.
|
|
|
|
HB4642 |
- 28 - |
LRB093 14988 LRD 40557 b |
|
| 1 |
| (b) On January 1, 1981, any
beneficiary who was receiving a | 2 |
| survivor's monthly benefit on or before
January 1, 1971, shall | 3 |
| have the benefit then being paid increased by 1% for
each full | 4 |
| year elapsed from the date the survivor's benefit began. On
| 5 |
| January 1, 1982, any beneficiary who began receiving a | 6 |
| survivor's monthly
benefit after January 1, 1971, but before | 7 |
| January 1, 1981 shall have the
benefit then being paid | 8 |
| increased by 1% for each year elapsed from the date
the | 9 |
| survivor's benefit began.
| 10 |
| On January 1, 1987, any beneficiary whose monthly | 11 |
| survivor's benefit
began on or before January 1, 1977, shall | 12 |
| have the monthly survivor's
benefit increased by $1 for each | 13 |
| full year which has elapsed since the date
the survivor's | 14 |
| benefit began.
| 15 |
| (c) On January 1, 2005, every survivor who began receiving | 16 |
| a survivor's
benefit on or before January 1, 1991 shall have | 17 |
| the monthly survivor's benefit
increased by an amount equal to | 18 |
| 25˘ multiplied by the number of full years of
the deceased's | 19 |
| creditable service multiplied by the sum of (i) the number of
| 20 |
| full years that have elapsed since the survivor's benefit began | 21 |
| and (ii) the
number of full years, if any, during which the | 22 |
| deceased received a retirement
annuity under this Article. | 23 |
| Every survivor who begins receiving a survivor's
benefit after | 24 |
| January 1, 1991 and before January 1, 2005 shall have the | 25 |
| monthly
survivor's benefit increased on January 1, 2005 or on | 26 |
| the January 1 occurring
on or next following the seventh | 27 |
| anniversary of the commencement of the
survivor's benefit, | 28 |
| whichever is later, by an amount equal
to 25˘ multiplied by the | 29 |
| number of full years of the deceased's creditable
service | 30 |
| multiplied by the sum of (i) the number of full years that have | 31 |
| elapsed
since the survivor's benefit began and (ii) the number | 32 |
| of full years, if any,
during which the deceased received a | 33 |
| retirement annuity under this Article.
The increase under this | 34 |
| subsection shall be included in the calculation of
increases | 35 |
| granted simultaneously or thereafter under subsection (a).
| 36 |
| (Source: P.A. 86-273; 86-1488.)
|
|
|
|
HB4642 |
- 29 - |
LRB093 14988 LRD 40557 b |
|
| 1 |
| (40 ILCS 5/17-119) (from Ch. 108 1/2, par. 17-119)
| 2 |
| Sec. 17-119. Automatic annual increase in pension.
| 3 |
| (a) Each teacher retiring on or after September 1, 1959, is | 4 |
| entitled to
the annual increase in pension, defined herein, | 5 |
| while he is receiving a pension
from the Fund.
| 6 |
| 1. The term "base pension" means a service retirement | 7 |
| or disability
retirement pension in the amount fixed and | 8 |
| payable at the date of
retirement of a teacher.
| 9 |
| 2. The annual increase in pension shall be at the rate | 10 |
| of 1 1/2% of
base pension. This increase shall first occur | 11 |
| in January of the year
next following the first anniversary | 12 |
| of retirement. At such time the
Fund shall pay the pro rata | 13 |
| part of the increase for the period from
the first | 14 |
| anniversary date to the date of the first increase in
| 15 |
| pension. Beginning January 1, 1972, the rate of annual | 16 |
| increase in
pension shall be 2% of the base pension. | 17 |
| Beginning January 1, 1979, the
rate of annual increase in | 18 |
| pension shall be 3% of the base pension.
Beginning January | 19 |
| 1, 1990, all automatic annual increases payable under
this | 20 |
| Section shall be calculated as a percentage of the total | 21 |
| pension
payable at the time of the increase, including all | 22 |
| increases previously
granted under this Article, | 23 |
| notwithstanding Section 17-157.
| 24 |
| 3. An increase in pension shall be granted only if the | 25 |
| retired
teacher is age 60 or over. If the teacher attains | 26 |
| age 60 after
retirement, the increase in pension shall | 27 |
| begin in January of the
year following the 61st birthday. | 28 |
| At such time the Fund also shall pay
the pro rata part of | 29 |
| the increase from the 61st birthday to the date of
first | 30 |
| increase in pension.
| 31 |
| (b) In addition to other increases which may be provided by | 32 |
| this
Section, on January 1, 1981 any teacher who was receiving | 33 |
| a retirement pension
on or before January 1, 1971 shall have | 34 |
| his retirement pension then being paid
increased $1 per month | 35 |
| for each year of creditable service. On January 1,
1982, any |
|
|
|
HB4642 |
- 30 - |
LRB093 14988 LRD 40557 b |
|
| 1 |
| teacher whose retirement pension began on or before January 1, | 2 |
| 1977,
shall have his retirement pension then being paid | 3 |
| increased $1 per month for
each year of creditable service.
| 4 |
| On January 1, 1987, any teacher whose retirement pension | 5 |
| began
on or before January 1, 1977, shall have the monthly | 6 |
| retirement pension
increased by an amount equal to 8˘ per year | 7 |
| of creditable service times the
number of years that have | 8 |
| elapsed since the retirement pension began.
| 9 |
| (c) On January 1, 2005, every pensioner who began receiving | 10 |
| a retirement
pension on or before January 1, 1991 shall have | 11 |
| the monthly retirement pension
increased by an amount equal to | 12 |
| 25˘ multiplied by the number of full years of
creditable | 13 |
| service multiplied by the number of full years that have | 14 |
| elapsed
since the pension began. Every pensioner who begins | 15 |
| receiving a retirement
pension after January 1, 1991 and before | 16 |
| July 1, 1998 shall have the monthly
retirement pension | 17 |
| increased on January 1, 2005 or on the January 1 occurring
on | 18 |
| or next following the seventh anniversary of retirement, | 19 |
| whichever is
later, by an amount equal to $1.75 multiplied by | 20 |
| the number of full years of
creditable service upon which the | 21 |
| retirement pension is based. The increase
under this subsection | 22 |
| shall be included in the calculation of increases granted
| 23 |
| simultaneously or thereafter under subsection (a). Section | 24 |
| 17-157 does not
apply to the increase provided under this | 25 |
| subsection.
| 26 |
| (Source: P.A. 90-566, eff. 1-2-98.)
| 27 |
| (40 ILCS 5/17-122) (from Ch. 108 1/2, par. 17-122)
| 28 |
| Sec. 17-122. Survivor's and children's pensions - Amount.
| 29 |
| (a) Upon the death of a teacher who has completed at least | 30 |
| 1 1/2
years of contributing service with either this Fund or | 31 |
| the State Universities
Retirement System or the Teachers' | 32 |
| Retirement System of the State of
Illinois, provided his death | 33 |
| occurred while (a) in active service
covered by the Fund or | 34 |
| during his first 18 months of continuous
employment without a | 35 |
| break in service under any other participating
system as |
|
|
|
HB4642 |
- 31 - |
LRB093 14988 LRD 40557 b |
|
| 1 |
| defined in the Illinois Retirement Systems Reciprocal Act
| 2 |
| except the State Universities Retirement System and the | 3 |
| Teachers'
Retirement System of the State of Illinois, (b) on a | 4 |
| creditable leave of
absence, (c) on a noncreditable leave of | 5 |
| absence of no more than one
year, or (d) a pension was deferred | 6 |
| or pending provided the teacher had
at least 10 years of | 7 |
| validated service credit, or upon the death of a
pensioner | 8 |
| otherwise qualified for such benefit, the surviving spouse and
| 9 |
| unmarried minor children of the deceased teacher under age 18 | 10 |
| shall be
entitled to pensions, under the conditions stated | 11 |
| hereinafter. Such
survivor's and children's pensions shall be | 12 |
| based on the average of the
4 highest consecutive years of | 13 |
| salary in the last 10 years of service or
on the average salary | 14 |
| for total service, if total service has been less
than 4 years, | 15 |
| according to the following percentages:
| 16 |
| 30% of average salary or 50% of the retirement pension | 17 |
| earned by the
teacher, whichever is larger, subject to the | 18 |
| prescribed maximum monthly
payment, for a surviving spouse | 19 |
| alone on attainment of age 50;
| 20 |
| 60% of average salary for a surviving spouse and | 21 |
| eligible minor
children of the deceased teacher.
| 22 |
| If no eligible spouse survives, or the surviving spouse | 23 |
| remarries, or
the parent of the children of the deceased member | 24 |
| is otherwise
ineligible for a survivor's pension, a children's | 25 |
| pension for eligible
minor children under age 18 shall be paid | 26 |
| to their parent or legal
guardian for their benefit according | 27 |
| to the following percentages:
| 28 |
| 30% of average salary for one child;
| 29 |
| 60% of average salary for 2 or more children.
| 30 |
| (b) On January 1, 1981, any survivor or child who was | 31 |
| receiving a
survivor's or children's pension on or before | 32 |
| January 1, 1971, shall have his
survivor's or children's | 33 |
| pension then being paid increased by 1% for each full
year | 34 |
| which has elapsed from the date the pension began. On January | 35 |
| 1, 1982,
any survivor or child whose pension began after | 36 |
| January 1, 1971, but before
January 1, 1981, shall have his |
|
|
|
HB4642 |
- 32 - |
LRB093 14988 LRD 40557 b |
|
| 1 |
| survivor's or children's pension then being
paid increased 1% | 2 |
| for each full year which has elapsed from the date the
pension | 3 |
| began. On January 1, 1987, any survivor or child whose pension | 4 |
| began
on or before January 1, 1977, shall have the monthly | 5 |
| survivor's or children's
pension increased by $1 for each full | 6 |
| year which has elapsed since the pension
began.
| 7 |
| (c) On January 1, 2005, every survivor or child who began | 8 |
| receiving a
survivor's or children's pension on or before | 9 |
| January 1, 1991 shall have the
monthly pension increased by an | 10 |
| amount equal to 25˘ multiplied by the number of
full years of | 11 |
| the deceased's creditable service multiplied by the sum of (i)
| 12 |
| the number of full years that have elapsed since the survivor's | 13 |
| or children's
pension began and (ii) the number of full years, | 14 |
| if any, during which the
deceased received a retirement pension | 15 |
| under this Article. Every survivor or
child who begins | 16 |
| receiving a survivor's or children's pension after January 1,
| 17 |
| 1991 and before January 1, 2005 shall have the monthly pension | 18 |
| increased on
January 1, 2005 or on the January 1 occurring on | 19 |
| or next following the seventh
anniversary of the commencement | 20 |
| of the pension, whichever is later, by an
amount equal to 25˘ | 21 |
| multiplied by the number of full years of the deceased's
| 22 |
| creditable service multiplied by the sum of (i) the number of | 23 |
| full years that
have elapsed since
the survivor's annuity began | 24 |
| and (ii) the number of full years, if any, during
which the | 25 |
| deceased received a retirement pension under this Article. The
| 26 |
| increase under this subsection shall be included in the | 27 |
| calculation of
increases granted simultaneously or thereafter | 28 |
| under subsection (d).
Section 17-157 does not apply to the | 29 |
| increase provided under this
subsection.
| 30 |
| (d) Beginning January 1, 1990, every survivor's and | 31 |
| children's pension
shall be increased (1) on each January 1 | 32 |
| occurring on or after the commencement
of the pension if the | 33 |
| deceased teacher died while receiving a retirement
pension, or | 34 |
| (2) in other cases, on each January 1 occurring on or after the
| 35 |
| first anniversary of the commencement of the pension, by an | 36 |
| amount equal to 3%
of the current amount of the pension, |
|
|
|
HB4642 |
- 33 - |
LRB093 14988 LRD 40557 b |
|
| 1 |
| including all increases previously
granted under this Article, | 2 |
| notwithstanding Section 17-157. Such increases
shall apply | 3 |
| without regard to whether the deceased teacher was in service | 4 |
| on or
after the effective date of this amendatory Act of 1991, | 5 |
| but shall not accrue
for any period prior to January 1, 1990.
| 6 |
| (e) Subject to the minimum established below, the maximum | 7 |
| amount of
pension for a surviving spouse alone or one
minor | 8 |
| child shall be $400 per month, and the maximum combined | 9 |
| pensions for
a surviving spouse and children of the deceased | 10 |
| teacher shall be $600
per month, with individual pensions | 11 |
| adjusted for all beneficiaries
pro rata to conform with this | 12 |
| limitation. If proration is unnecessary
the minimum survivor's | 13 |
| and children's pensions shall be $40 per month. The
minimum | 14 |
| total survivor's and children's pension payable upon the death | 15 |
| of a
contributor or annuitant which occurs after December 31, | 16 |
| 1986, shall be 50% of
the earned retirement pension of such | 17 |
| contributor or annuitant, calculated
without early retirement | 18 |
| discount in the case of death in service.
| 19 |
| On death after retirement, the total survivor's and | 20 |
| children's
pensions shall not exceed the monthly retirement or | 21 |
| disability pension
paid to the deceased retirant. Survivor's | 22 |
| and children's benefits described
in this Section shall apply | 23 |
| to all service and disability pensioners eligible
for a pension | 24 |
| as of July 1, 1981.
| 25 |
| (Source: P.A. 90-32, eff. 6-27-97; 90-566, eff. 1-2-98.)
| 26 |
| Section 90. The State Mandates Act is amended by adding | 27 |
| Section 8.28 as
follows:
| 28 |
| (30 ILCS 805/8.28 new)
| 29 |
| Sec. 8.28. Exempt mandate. Notwithstanding Sections 6 and 8 | 30 |
| of this
Act, no reimbursement by the State is required for the | 31 |
| implementation of
any mandate created by this amendatory Act of | 32 |
| the 93rd General Assembly.
| 33 |
| Section 99. Effective date. This Act takes effect upon |
|
|
|
HB4642 |
- 34 - |
LRB093 14988 LRD 40557 b |
|
| 1 |
| becoming law. |
|