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92_HB6287
LRB9216830LDtm
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 Sections 5-132 and 6-128 as follows:
6 (40 ILCS 5/5-132) (from Ch. 108 1/2, par. 5-132)
7 Sec. 5-132. Minimum annuity. Any policeman who withdraws
8 on or after July 8, 1957, or any policeman transferred to the
9 police service of the city under the Exchange of Functions
10 Act of 1957 who withdraws on or after July 17, 1959, after
11 completing at least 20 years of service, for whom the annuity
12 otherwise provided in this Article is less than that stated
13 in this Section has a right to receive annuity as follows:
14 (a) If he is age 55 or more on withdrawal, his annuity
15 after such withdrawal, shall be equal to 2% of the average
16 salary for 4 consecutive years of highest salaries within the
17 last 10 years of service before withdrawal, for each year of
18 service, together with 1/6 of 1% of such average salary for
19 each complete month of service of each fractional year, but
20 not in excess of 75% of the average annual salary.
21 (b) If he is age 50 or more but less than age 55 on
22 withdrawal, his annuity shall be equal to 2% of the average
23 salary for the 4 highest consecutive years of the last 10
24 years of service for each year of service, together with 1/16
25 of 1% of such average salary for each month of each
26 fractional year of service, reduced by 1/2 of 1% for each
27 month that he is less than age 55.
28 (c) If he is less than age 50 on withdrawal, he may,
29 upon attainment of age 50 or over, become entitled to the
30 annuity provided in this Section or, he may, upon application
31 before age 50, receive a refund of the deductions from
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1 salary, plus interest at 1 1/2% per annum if he is entitled
2 to refund under Section 5-163.
3 (d) In lieu of the annuity provided in the foregoing
4 provisions of this Section 5-132 any policeman who withdraws
5 from the service after December 31, 1973, after having
6 attained age 53 in the service with 23 or more years of
7 service credit shall be entitled to an annuity computed as
8 follows if such annuity is greater than that provided in the
9 foregoing paragraphs of this Section 5-132: An annuity equal
10 to 50% of the average salary for the 4 highest consecutive
11 years of the last 10 years of service plus additional annuity
12 equal to 2% of such average salary for each completed year of
13 service or fraction thereof rendered after his attainment of
14 age 53 and the completion of 23 years of service.
15 Any policeman who has completed 23 years of service prior
16 to his attainment of age 53 in the service and continues in
17 the service until his attainment of age 53 shall have added
18 to his annuity, computed as provided in the immediately
19 preceding paragraph, an additional annuity equal to 1% of
20 such average salary for each completed year of service or
21 fraction thereof in excess of 23 years up to age 53.
22 (e) In lieu of the annuity provided in the foregoing
23 provisions of this Section any policeman who withdraws from
24 the service either (i) after December 31, 1983 with at least
25 22 years of service credit and having attained age 52 in the
26 service, or (ii) after December 31, 1984 with at least 21
27 years of service credit and having attained age 51 in the
28 service, or (iii) after December 31, 1985 with at least 20
29 years of service credit and having attained age 50 in the
30 service, or (iv) after December 31, 1990, with at least 20
31 years of service credit regardless of age, shall be entitled
32 to an annuity to begin not earlier than upon attainment of
33 age 50 if under such age at withdrawal, computed as follows:
34 an annuity equal to 50% of the average salary for the 4
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1 highest consecutive years of the last 10 years of service,
2 plus additional annuity equal to 2% of such average salary
3 for each completed year of service or fraction thereof
4 rendered after his completion of the minimum number of years
5 of service required for him to be eligible under this
6 subsection (e). However, the annuity provided under this
7 subsection (e) may not exceed 75% of such average salary.
8 (f) A policeman withdrawing after September 1, 1969,
9 may, in addition, be entitled to the benefits provided by
10 Section 5-167.1 of this Article if he so qualifies under that
11 Section.
12 (g) Any policeman who withdraws from service on or after
13 January 1, 2003 with not less than 20 years of service under
14 this Article and has attained age 55, and any policeman who
15 withdraws from service on or after January 1, 2003 with not
16 less than 25 years of service under this Article and has
17 attained age 50, regardless of whether the attainment of
18 either of the specified ages occurs while the policeman is
19 still in service, shall be entitled to receive at the option
20 of the policeman, in lieu of any other annuity available
21 under this Article, a retirement annuity equal to 3% of
22 final salary for each year of creditable service, subject to
23 a maximum of 80% of final salary. For the purpose of this
24 subsection (g), "final salary" means the rate of salary
25 received by the policeman on the last day of service (but not
26 to exceed 115% of the average salary received by the
27 policeman for the last 2 years of service) or the average
28 salary received by the policeman for the 4 highest
29 consecutive years of the last 10 years of service prior to
30 retirement, whichever is greater.
31 (h) If, on withdrawal, total service is less than 20
32 years, the policeman shall not be entitled to an annuity
33 under this Section but may receive an annuity under the other
34 provisions of this Article or, if entitled thereto under
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1 Section 5-163, a refund of the deductions from salary,
2 including, in the case of policemen transferred to the police
3 service of the city under the Exchange of Functions Act of
4 1957, the additional contribution paid on salary received
5 from August 1, 1957, to July 17, 1959, as provided in the
6 Park Policemen's Annuity Act, together with interest at 1
7 1/2% per annum.
8 (i) Moneys voluntarily contributed under the Policemen's
9 Annuity and Benefit Fund Act of the Illinois Municipal Code,
10 or the Park Policemen's Annuity Act, shall be refunded to the
11 contributing policemen who were in service on January 1,
12 1954, or in the case of policemen transferred to the police
13 service of the city under the Exchange of Functions Act of
14 1957, who were in service on July 17, 1959.
15 (j) The age and service annuity formula in this Section
16 shall not apply to any policeman who, having retired before
17 July 8, 1957, or before July 17, 1959, in the case of a
18 policeman transferred under the provisions of the Exchange of
19 Functions Act of 1957, re-enters the police service after
20 such dates, whichever are applicable.
21 (Source: P.A. 86-1488.)
22 (40 ILCS 5/6-128) (from Ch. 108 1/2, par. 6-128)
23 Sec. 6-128. (a) A future entrant who withdraws on or
24 after July 21, 1959, after completing at least 23 years of
25 service, and for whom the annuity otherwise provided in this
26 Article is less than that stated in this section, has a right
27 to receive annuity as follows:
28 If he is age 53 or more on withdrawal, his annuity after
29 withdrawal, shall be equal to 50% of his average salary
30 determined by striking an average of 4 consecutive highest
31 years of salary within the last 10 years of service
32 immediately preceding the date of withdrawal.
33 An employee who reaches compulsory retirement age and who
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1 has less than 23 years of service shall be entitled to a
2 minimum annuity equal to an amount determined by the product
3 of (1) his years of service and (2) 2% of his average salary
4 for the 4 consecutive highest years of salary within the last
5 10 years of service immediately prior to his reaching
6 compulsory retirement age.
7 An employee who remains in service after qualifying for
8 annuity under this section shall have added to this annuity
9 an additional 1% of salary for each completed year of service
10 or fraction thereof rendered until July 21, 1959, and an
11 additional 1% for a total of 2% of salary from July 21, 1959.
12 Each future entrant who has completed 23 years of service
13 before reaching age 53 shall have added to this annuity 1% of
14 salary for each completed year of service or fraction thereof
15 in excess of 23 years up to age 53. "Salary" as referred to
16 in this paragraph shall be determined by striking an average
17 of the 4 consecutive highest years of salary within the last
18 10 years of service immediately preceding withdrawal.
19 (b) In lieu of the annuity provided in the foregoing
20 provisions of this Section any future entrant who withdraws
21 from the service either (i) after December 31, 1983 with at
22 least 22 years of service credit and having attained age 52
23 in the service, or (ii) after December 31, 1984 with at least
24 21 years of service credit and having attained age 51 in the
25 service, or (iii) after December 31, 1985 with at least 20
26 years of service credit and having attained age 50 in the
27 service, or (iv) after December 31, 1990 with at least 20
28 years of service regardless of age, may elect to receive an
29 annuity, to begin not earlier than upon attainment of age 50
30 if under that age at withdrawal, computed as follows: an
31 annuity equal to 50% of the average salary for the 4 highest
32 consecutive years of the last 10 years of service, plus
33 additional annuity equal to 2% of such average salary for
34 each completed year of service or fraction thereof rendered
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1 after his completion of the minimum number of years of
2 service required for him to be eligible under this subsection
3 (b). However, the annuity provided under this subsection (b)
4 may not exceed 75% of such average salary.
5 (c) Any fireman who withdraws from service on or after
6 January 1, 2003 with not less than 20 years of service under
7 this Article and has attained age 55, and any fireman who
8 withdraws from service on or after January 1, 2003 with not
9 less than 25 years of service under this Article and has
10 attained age 50, regardless of whether the attainment of
11 either of the specified ages occurs while the fireman is
12 still in service, shall be entitled to receive at the option
13 of the fireman, in lieu of any other annuity available under
14 this Article, a retirement annuity equal to 3% of final
15 salary for each year of creditable service, subject to a
16 maximum of 80% of final salary. For the purpose of this
17 subsection (c), "final salary" means the rate of salary
18 received by the fireman on the last day of service (but not
19 to exceed 115% of the average salary received by the fireman
20 for the last 2 years of service) or the average salary
21 received by the fireman for the 4 highest consecutive years
22 of the last 10 years of service prior to retirement,
23 whichever is greater.
24 (Source: P.A. 86-1488.)
25 Section 90. The State Mandates Act is amended by adding
26 Section 8.26 as follows:
27 (30 ILCS 805/8.26 new)
28 Sec. 8.26. Exempt mandate. Notwithstanding Sections 6
29 and 8 of this Act, no reimbursement by the State is required
30 for the implementation of any mandate created by this
31 amendatory Act of the 92nd General Assembly.
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1 Section 99. Effective date. This Act takes effect upon
2 becoming law.