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91_SB0299
LRB9101892EGfg
1 AN ACT to amend the Illinois Pension Code by changing
2 Section 15-153.3.
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 15-153.3 as follows:
7 (40 ILCS 5/15-153.3) (from Ch. 108 1/2, par. 15-153.3)
8 Sec. 15-153.3. Automatic increase in disability benefit.
9 Each disability benefit payable under Section 15-150 and
10 calculated under Section 15-153 or 15-153.2 that has not yet
11 received an initial increase under this Section shall be
12 increased by 0.25% of the monthly disability benefit
13 multiplied by the number of full months that have elapsed
14 since the benefit began 7% of the original fixed amount of
15 such benefit on January 1, 2000 1991 or the January 1 on or
16 next following the fourth anniversary of the granting of the
17 benefit, whichever occurs later.
18 On each January 1 following the initial 7% increase under
19 this Section, the disability benefit shall be increased by 3%
20 of the current amount of the benefit, including prior
21 increases under this Article.
22 The changes made to this Section by this amendatory Act
23 of the 91st General Assembly apply without regard to whether
24 the benefit recipient was in service on ar after the
25 effective date of this amendatory Act.
26 (Source: P.A. 90-766, eff. 8-14-98.)
27 Section 99. Effective date. This Act takes effect upon
28 becoming law.