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96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010 SB2246
Introduced 2/20/2009, by Sen. Chris Lauzen SYNOPSIS AS INTRODUCED: |
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Amends the General Provisions Article of the Illinois Pension Code.
Provides that the total retirement annuity, including any automatic,
one-time, or other increases in that annuity, shall not ever exceed
$100,000 per year. Applies only to a person who first becomes a participant
on or after the effective date. Effective immediately.
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FISCAL NOTE ACT MAY APPLY | |
PENSION IMPACT NOTE ACT MAY APPLY |
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A BILL FOR
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SB2246 |
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LRB096 04596 AMC 14653 b |
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| AN ACT in relation to 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 adding |
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| Section
1-117.1 as follows:
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| (40 ILCS 5/1-117.1 new)
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| Sec. 1-117.1. Maximum annuity. Notwithstanding any other |
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| provision of
this Code, for a person who first begins to |
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| participate in a pension fund or
retirement system subject to |
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| this Code on or after the effective date of this
Section, the |
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| total retirement or disability retirement annuity payable by
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| that pension fund or retirement system, including any |
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| automatic, one-time, or
other increases in that annuity that |
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| are otherwise provided under this Code,
shall not ever exceed |
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| $100,000 per year.
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| Section 99. Effective date. This Act takes effect upon |
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| becoming law. |