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91_HB3448
LRB9110058EGfg
1 AN ACT to amend the Illinois Pension Code by changing
2 Section 17-119 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 17-119 as follows:
7 (40 ILCS 5/17-119) (from Ch. 108 1/2, par. 17-119)
8 Sec. 17-119. Automatic annual increase in pension.
9 (a) Each teacher retiring on or after September 1, 1959,
10 is entitled to the annual increase in pension, defined
11 herein, while he is receiving a pension from the Fund.
12 1. The term "base pension" means a service
13 retirement or disability retirement pension in the amount
14 fixed and payable at the date of retirement of a teacher.
15 2. The annual increase in pension shall be at the
16 rate of 1 1/2% of base pension. This increase shall first
17 occur in January of the year next following the first
18 anniversary of retirement. At such time the Fund shall
19 pay the pro rata part of the increase for the period from
20 the first anniversary date to the date of the first
21 increase in pension. Beginning January 1, 1972, the rate
22 of annual increase in pension shall be 2% of the base
23 pension. Beginning January 1, 1979, the rate of annual
24 increase in pension shall be 3% of the base pension.
25 Beginning January 1, 1990, all automatic annual increases
26 payable under this Section shall be calculated as a
27 percentage of the total pension payable at the time of
28 the increase, including all increases previously granted
29 under this Article, notwithstanding Section 17-157.
30 3. An increase in pension shall be granted only if
31 the retired teacher is age 60 or over. If the teacher
-2- LRB9110058EGfg
1 attains age 60 after retirement, the increase in pension
2 shall begin in January of the year following the 61st
3 birthday. At such time the Fund also shall pay the pro
4 rata part of the increase from the later of (i)
5 attainment of age 55 or (ii) the date of retirement 61st
6 birthday to the date of first increase in pension.
7 (b) In addition to other increases which may be provided
8 by this Section, on January 1, 1981 any teacher who was
9 receiving a retirement pension on or before January 1, 1971
10 shall have his retirement pension then being paid increased
11 $1 per month for each year of creditable service. On January
12 1, 1982, any teacher whose retirement pension began on or
13 before January 1, 1977, shall have his retirement pension
14 then being paid increased $1 per month for each year of
15 creditable service.
16 On January 1, 1987, any teacher whose retirement pension
17 began on or before January 1, 1977, shall have the monthly
18 retirement pension increased by an amount equal to 8¢ per
19 year of creditable service times the number of years that
20 have elapsed since the retirement pension began.
21 (Source: P.A. 90-566, eff. 1-2-98.)
22 Section 90. The State Mandates Act is amended by adding
23 Section 8.24 as follows:
24 (30 ILCS 805/8.24 new)
25 Sec. 8.24. Exempt mandate. Notwithstanding Sections 6
26 and 8 of this Act, no reimbursement by the State is required
27 for the implementation of any mandate created by this
28 amendatory Act of the 91st General Assembly.
29 Section 99. Effective date. This Act takes effect upon
30 becoming law.