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92_HB1013
LRB9202970EGfg
1 AN ACT in relation to 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
5 changing Section 14-109 as follows:
6 (40 ILCS 5/14-109) (from Ch. 108 1/2, par. 14-109)
7 Sec. 14-109. Minimum retirement annuity.
8 (a) Beginning January 1, 1987, any person who is
9 receiving a monthly retirement annuity under this Article
10 which, after inclusion of (1) all one-time and automatic
11 annual increases to which the person is entitled, (2) any
12 supplemental annuity payable under Section 14-115, and (3)
13 any amount deducted under Section 14-113 to provide a
14 reversionary annuity, is less than the minimum monthly
15 retirement benefit amount specified in subsection (b) of this
16 Section, shall be entitled to a monthly supplemental payment
17 equal to the difference.
18 (b) For purposes of the calculation in subsection (a):
19 (1) Until January 1, 1997, the minimum monthly
20 retirement benefit amount is the sum of $15 for each year
21 of service as a noncovered employee, plus $7.50 for each
22 year of service as a covered employee, up to a maximum of
23 30 years of service.
24 (2) Except as otherwise provided in subdivision
25 (3), beginning January 1, 1997, the minimum monthly
26 retirement benefit amount is the sum of $25 for each year
27 of service as a noncovered employee, plus $15 for each
28 year of service as a covered employee, up to a maximum of
29 30 years of service.
30 (3) Beginning January 1, 2002, the minimum monthly
31 retirement benefit amount for a person with at least 20
-2- LRB9202970EGfg
1 years of service as a State policeman is $1,500. This
2 subdivision (3) applies without regard for whether the
3 annuitant is in service on or after the effective date of
4 this amendatory Act of the 92nd General Assembly.
5 (c) This Section applies to all persons receiving a
6 retirement annuity under this Article, without regard to
7 whether or not employment terminated prior to the effective
8 date of this amendatory Act of 1996.
9 (Source: P.A. 89-616, eff. 8-9-96.)
10 Section 99. Effective date. This Act takes effect upon
11 becoming law.