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92_SB0411
LRB9205294EGfg
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 Section 15-153.3 as follows:
6 (40 ILCS 5/15-153.3) (from Ch. 108 1/2, par. 15-153.3)
7 Sec. 15-153.3. Automatic increase in disability benefit.
8 Each disability benefit payable under Section 15-150 and
9 calculated under Section 15-153 or 15-153.2 that has not yet
10 received an initial increase under this Section shall be
11 increased by 0.25% of the monthly disability benefit
12 multiplied by the number of full months that have elapsed
13 since the benefit began 7% of the original fixed amount of
14 such benefit on January 1, 2002 1991 or the January 1 on or
15 next following the fourth anniversary of the granting of the
16 benefit, whichever occurs later.
17 On each January 1 following the initial 7% increase under
18 this Section, the disability benefit shall be increased by 3%
19 of the current amount of the benefit, including prior
20 increases under this Article.
21 The changes made to this Section by this amendatory Act
22 of the 92nd General Assembly apply without regard to whether
23 the benefit recipient was in service on ar after the
24 effective date of this amendatory Act.
25 (Source: P.A. 90-766, eff. 8-14-98.)
26 Section 99. Effective date. This Act takes effect upon
27 becoming law.