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| Public Act 102-0871 | ||||
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AN ACT concerning public employee benefits.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Illinois Pension Code is amended by | ||||
changing Sections 16-132 and 16-203 as follows:
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(40 ILCS 5/16-132) (from Ch. 108 1/2, par. 16-132)
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(Text of Section WITHOUT the changes made by P.A. 98-599, | ||||
which has been held unconstitutional)
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Sec. 16-132. Retirement annuity eligibility. A member who | ||||
has at least 20 years of creditable service is entitled to a
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retirement annuity upon or after attainment of age 55.
A | ||||
member who has at least 10 but less than 20 years of creditable | ||||
service is
entitled to a retirement annuity upon or after | ||||
attainment of age 60.
A member who has at least 5 but less than | ||||
10 years of creditable service is
entitled to a retirement | ||||
annuity upon or after attainment of age 62.
A member who (i) | ||||
has earned during the period immediately preceding the last
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day of service at least one year of contributing creditable | ||||
service as an
employee of a department as defined in Section | ||||
14-103.04, (ii) has earned at
least 5 years of contributing | ||||
creditable service as an employee of a department
as defined | ||||
in Section 14-103.04, and (iii) retires on or after January 1, | ||||
2001
is entitled to a retirement annuity upon or after | ||||
attainment of an age which,
when added to the number of years | ||
of his or her total creditable service,
equals at least 85. | ||
Portions of years shall be counted as decimal equivalents.
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A member who is eligible to receive a retirement annuity | ||
of at least 74.6% of
final average salary and will attain age | ||
55 on or before December 31 during the
year which commences on | ||
July 1 shall be deemed to attain age 55 on the
preceding June | ||
1.
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A member meeting the above eligibility conditions is | ||
entitled to a retirement
annuity upon written application to | ||
the board setting forth the date the member
wishes the | ||
retirement annuity to commence. However, the effective date of | ||
the
retirement annuity shall be no earlier than the day | ||
following the last day of
creditable service, regardless of | ||
the date of official termination of
employment; except that | ||
the effective date of a retirement annuity may be after the | ||
date of official termination of employment as long as such | ||
employment is for (1) less than 10 days in length and (2) less | ||
than $2,000 in compensation.
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To be eligible for a retirement annuity, a member shall | ||
not be employed
as a teacher in the schools included under this | ||
System or under Article 17,
except (i) as provided in Section | ||
16-118 or 16-150.1, (ii) if
the member is disabled (in which | ||
event, eligibility for salary must cease),
or (iii) if the | ||
System is required by federal law to commence
payment due to | ||
the member's age; the changes to this sentence made by this
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amendatory Act of the 93rd General Assembly apply without
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regard to whether the member terminated employment before or | ||
after its
effective date.
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(Source: P.A. 93-320, eff. 7-23-03.)
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(40 ILCS 5/16-203)
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Sec. 16-203. Application and expiration of new benefit | ||
increases. | ||
(a) As used in this Section, "new benefit increase" means | ||
an increase in the amount of any benefit provided under this | ||
Article, or an expansion of the conditions of eligibility for | ||
any benefit under this Article, that results from an amendment | ||
to this Code that takes effect after June 1, 2005 (the | ||
effective date of Public Act 94-4). "New benefit increase", | ||
however, does not include any benefit increase resulting from | ||
the changes made to Article 1 or this Article by Public Act | ||
95-910, Public Act 100-23, Public Act 100-587, Public Act | ||
100-743, Public Act 100-769, Public Act 101-10, or Public Act | ||
101-49, Public Act 102-16, or this amendatory Act of the 102nd | ||
General Assembly this amendatory Act of the 102nd General | ||
Assembly. | ||
(b) Notwithstanding any other provision of this Code or | ||
any subsequent amendment to this Code, every new benefit | ||
increase is subject to this Section and shall be deemed to be | ||
granted only in conformance with and contingent upon | ||
compliance with the provisions of this Section.
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(c) The Public Act enacting a new benefit increase must | ||
identify and provide for payment to the System of additional | ||
funding at least sufficient to fund the resulting annual | ||
increase in cost to the System as it accrues. | ||
Every new benefit increase is contingent upon the General | ||
Assembly providing the additional funding required under this | ||
subsection. The Commission on Government Forecasting and | ||
Accountability shall analyze whether adequate additional | ||
funding has been provided for the new benefit increase and | ||
shall report its analysis to the Public Pension Division of | ||
the Department of Insurance. A new benefit increase created by | ||
a Public Act that does not include the additional funding | ||
required under this subsection is null and void. If the Public | ||
Pension Division determines that the additional funding | ||
provided for a new benefit increase under this subsection is | ||
or has become inadequate, it may so certify to the Governor and | ||
the State Comptroller and, in the absence of corrective action | ||
by the General Assembly, the new benefit increase shall expire | ||
at the end of the fiscal year in which the certification is | ||
made.
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(d) Every new benefit increase shall expire 5 years after | ||
its effective date or on such earlier date as may be specified | ||
in the language enacting the new benefit increase or provided | ||
under subsection (c). This does not prevent the General | ||
Assembly from extending or re-creating a new benefit increase | ||
by law. | ||
(e) Except as otherwise provided in the language creating | ||
the new benefit increase, a new benefit increase that expires | ||
under this Section continues to apply to persons who applied | ||
and qualified for the affected benefit while the new benefit | ||
increase was in effect and to the affected beneficiaries and | ||
alternate payees of such persons, but does not apply to any | ||
other person, including, without limitation, a person who | ||
continues in service after the expiration date and did not | ||
apply and qualify for the affected benefit while the new | ||
benefit increase was in effect.
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(Source: P.A. 101-10, eff. 6-5-19; 101-49, eff. 7-12-19; | ||
101-81, eff. 7-12-19; 102-16, eff. 6-17-21; 102-558, eff. | ||
8-20-21; revised 10-15-21.)
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Section 99. Effective date. This Act takes effect upon | ||
becoming law.
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