[ Search ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
91_HB0268
LRB9101002EGmb
1 AN ACT to amend the Illinois Pension Code by changing
2 Section 7-144.3 and to amend the State Mandates Act.
3 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
6 changing Section 7-144.3 as follows:
7 (40 ILCS 5/7-144.3) (from Ch. 108 1/2, par. 7-144.3)
8 Sec. 7-144.3. Supplemental benefit payment.
9 (a) A supplemental benefit payment, consisting of a sum
10 calculated as provided in subsection (c), shall be payable to
11 each eligible retirement annuitant and surviving spouse
12 annuitant on July 1, 1993, and on each subsequent July 1;
13 except that if this Code is amended to change the
14 uncompounded annual increase in retirement annuity granted in
15 subsection (c) of Section 7-142 to a compounded annual
16 increase, no supplemental benefit shall be paid under this
17 Section on any July 1 occurring on or after the effective
18 date of that amendment. The amount of the supplemental
19 benefit payment, and a person's eligibility to receive the
20 supplemental benefit payment, shall be redetermined for each
21 year in which the benefit is payable.
22 (b) To be eligible to receive a supplemental benefit
23 payment, a person must be entitled to receive a retirement
24 annuity or surviving spouse annuity from the Fund on the July
25 1 supplemental benefit payment date, and must have been
26 receiving that annuity during each of the 12 months
27 immediately preceding that date; except that a surviving
28 spouse annuitant whose surviving spouse annuity began less
29 than one year before the July 1 supplemental benefit payment
30 date shall be eligible if the deceased spouse received a
31 retirement annuity from the Fund during the period from the
-2- LRB9101002EGmb
1 previous July 1 until the start of the surviving spouse
2 annuity.
3 (c) The amount of the supplemental benefit payment shall
4 be determined by the Board as follows:
5 (1) The total amount available for the payment of
6 supplemental benefit payments under this Section in any
7 year before the year 2000 shall be 0.62% of the last
8 annual participating payroll for all participating
9 municipalities and participating instrumentalities in the
10 Fund, as determined and reconciled by the Fund. The
11 total amount available for the payment of supplemental
12 benefit payments under this Section in the year 2000 and
13 in each year thereafter shall be 0.80% of the last annual
14 participating payroll for all participating
15 municipalities and participating instrumentalities in the
16 Fund, as determined and reconciled by the Fund.
17 (2) The amount of the supplemental benefit payment
18 to each eligible person shall be a portion of the total
19 amount available under paragraph (1), equal to that
20 portion of the total amount payable by the Fund to all
21 eligible persons for retirement and surviving spouse
22 annuities in the June preceding the July 1 supplemental
23 benefit payment date, that is payable to the eligible
24 person in that month.
25 (3) Notwithstanding paragraph (2), the amount of
26 any supplemental benefit payment paid to an annuitant
27 under this Section shall not exceed any benefit
28 limitations established by the federal government for
29 qualified public pension plans.
30 (Source: P.A. 87-850.)
31 Section 90. The State Mandates Act is amended by adding
32 Section 8.23 as follows:
-3- LRB9101002EGmb
1 (30 ILCS 805/8.23 new)
2 Sec. 8.23. Exempt mandate. Notwithstanding Sections 6
3 and 8 of this Act, no reimbursement by the State is required
4 for the implementation of any mandate created by this
5 amendatory Act of the 91st General Assembly.
6 Section 99. Effective date. This Act takes effect upon
7 becoming law.