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92_SB1599
LRB9213994EGfg
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 adding Section 5-136.2 as follows:
6 (40 ILCS 5/5-136.2 new)
7 Sec. 5-136.2. Annual increase in widow's annuity.
8 (a) Except as provided in subsection (c), each widow's
9 annuity payable under this Article shall be increased by 3%
10 of the original fixed amount of the annuity on the later of
11 (1) January 1, 2003, or (2) the January 1 occurring on or
12 next following the first anniversary of the granting of the
13 annuity. On each January 1 following the initial increase
14 under this subsection, each widow's annuity payable under
15 this Article shall be increased by an amount equal to 3% of
16 the current amount of the annuity, including any previous
17 increases under this Section.
18 (b) The limitations on the maximum amount of widow's
19 annuity imposed under Section 5-148 and the provisions of
20 this Article on fixation of the amount of widow's annuity do
21 not apply to the annual increases provided under this
22 Section. The increases provided under this Section apply
23 without regard to whether or not the deceased employee was in
24 service on or after the effective date of this amendatory Act
25 of the 92nd General Assembly.
26 (c) The increases provided in this Section do apply to a
27 compensation or supplemental annuity under Section 5-144.
28 The increases provided in this Section do not apply to a
29 reversionary or term annuity.
30 Section 90. The State Mandates Act is amended by adding
-2- LRB9213994EGfg
1 Section 8.26 as follows:
2 (30 ILCS 805/8.26 new)
3 Sec. 8.26. Exempt mandate. Notwithstanding Sections 6
4 and 8 of this Act, no reimbursement by the State is required
5 for the implementation of any mandate created by this
6 amendatory Act of the 92nd General Assembly.
7 Section 99. Effective date. This Act takes effect upon
8 becoming law.