SB3517 EngrossedLRB098 16952 EFG 52030 b

1    AN ACT concerning public employee benefits.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Pension Code is amended by changing
5Sections 7-141 and 16-132 as follows:
 
6    (40 ILCS 5/7-141)  (from Ch. 108 1/2, par. 7-141)
7    Sec. 7-141. Retirement annuities - Conditions. Retirement
8annuities shall be payable as hereinafter set forth:
9    (a) A participating employee who, regardless of cause, is
10separated from the service of all participating municipalities
11and instrumentalities thereof and participating
12instrumentalities shall be entitled to a retirement annuity
13provided:
14        1. He is at least age 55, or in the case of a person who
15    is eligible to have his annuity calculated under Section
16    7-142.1, he is at least age 50;
17        2. He is not entitled to receive earnings for
18    employment in a position requiring him, or entitling him to
19    elect, to be a participating employee;
20        3. The amount of his annuity, before the application of
21    paragraph (b) of Section 7-142 is at least $10 per month;
22        4. If he first became a participating employee after
23    December 31, 1961, he has at least 8 years of service. This

 

 

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1    service requirement shall not apply to any participating
2    employee, regardless of participation date, if the General
3    Assembly terminates the Fund.
4    (b) Retirement annuities shall be payable:
5        1. As provided in Section 7-119;
6        2. Except as provided in item 3, upon receipt by the
7    fund of a written application. The effective date may be
8    not more than 2 years one year prior to the date of the
9    receipt by the fund of the application;
10        3. Upon attainment of age 70 1/2 if the member (i) is
11    no longer in service, and (ii) is otherwise entitled to an
12    annuity under this Article;
13        4. To the beneficiary of the deceased annuitant for the
14    unpaid amount accrued to date of death, if any.
15(Source: P.A. 97-328, eff. 8-12-11; 97-609, eff. 1-1-12.)
 
16    (40 ILCS 5/16-132)  (from Ch. 108 1/2, par. 16-132)
17    (Text of Section before amendment by P.A. 98-599)
18    Sec. 16-132. Retirement annuity eligibility. A member who
19has at least 20 years of creditable service is entitled to a
20retirement annuity upon or after attainment of age 55. A member
21who has at least 10 but less than 20 years of creditable
22service is entitled to a retirement annuity upon or after
23attainment of age 60. A member who has at least 5 but less than
2410 years of creditable service is entitled to a retirement
25annuity upon or after attainment of age 62. A member who (i)

 

 

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1has earned during the period immediately preceding the last day
2of service at least one year of contributing creditable service
3as an employee of a department as defined in Section 14-103.04,
4(ii) has earned at least 5 years of contributing creditable
5service as an employee of a department as defined in Section
614-103.04, and (iii) retires on or after January 1, 2001 is
7entitled to a retirement annuity upon or after attainment of an
8age which, when added to the number of years of his or her
9total creditable service, equals at least 85. Portions of years
10shall be counted as decimal equivalents.
11    A member who is eligible to receive a retirement annuity of
12at least 74.6% of final average salary and will attain age 55
13on or before December 31 during the year which commences on
14July 1 shall be deemed to attain age 55 on the preceding June
151.
16    A member meeting the above eligibility conditions is
17entitled to a retirement annuity upon written application to
18the board setting forth the date the member wishes the
19retirement annuity to commence. However, the effective date of
20the retirement annuity shall be no earlier than the day
21following the last day of creditable service, regardless of the
22date of official termination of employment.
23    To be eligible for a retirement annuity, a member shall not
24be employed as a teacher in the schools included under this
25System or under Article 17, except (i) as provided in Section
2616-118 or 16-150.1, (ii) if the member is disabled (in which

 

 

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1event, eligibility for salary must cease), or (iii) if the
2System is required by federal law to commence payment due to
3the member's age; the changes to this sentence made by this
4amendatory Act of the 93rd General Assembly apply without
5regard to whether the member terminated employment before or
6after its effective date.
7(Source: P.A. 93-320, eff. 7-23-03.)
 
8    (Text of Section after amendment by P.A. 98-599)
9    Sec. 16-132. Retirement annuity eligibility.
10    (a) A member who has at least 20 years of creditable
11service is entitled to a retirement annuity upon or after
12attainment of age 55. A member who has at least 10 but less
13than 20 years of creditable service is entitled to a retirement
14annuity upon or after attainment of age 60. A member who has at
15least 5 but less than 10 years of creditable service is
16entitled to a retirement annuity upon or after attainment of
17age 62. A member who (i) has earned during the period
18immediately preceding the last day of service at least one year
19of contributing creditable service as an employee of a
20department as defined in Section 14-103.04, (ii) has earned at
21least 5 years of contributing creditable service as an employee
22of a department as defined in Section 14-103.04, and (iii)
23retires on or after January 1, 2001 is entitled to a retirement
24annuity upon or after attainment of an age which, when added to
25the number of years of his or her total creditable service,

 

 

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1equals at least 85. Portions of years shall be counted as
2decimal equivalents.
3    A member who is eligible to receive a retirement annuity of
4at least 74.6% of final average salary and will attain age 55
5on or before December 31 during the year which commences on
6July 1 shall be deemed to attain age 55 on the preceding June
71.
8    (b) Notwithstanding subsection (a) of this Section, for a
9Tier 1 member who begins receiving a retirement annuity under
10this Section on or after July 1, 2014, the required retirement
11age under subsection (a) is increased as follows, based on the
12Tier 1 member's age on June 1, 2014:
13        (1) If he or she is at least age 46 on June 1, 2014,
14    then the required retirement ages under subsection (a)
15    remain unchanged.
16        (2) If he or she is at least age 45 but less than age 46
17    on June 1, 2014, then the required retirement ages under
18    subsection (a) are increased by 4 months.
19        (3) If he or she is at least age 44 but less than age 45
20    on June 1, 2014, then the required retirement ages under
21    subsection (a) are increased by 8 months.
22        (4) If he or she is at least age 43 but less than age 44
23    on June 1, 2014, then the required retirement ages under
24    subsection (a) are increased by 12 months.
25        (5) If he or she is at least age 42 but less than age 43
26    on June 1, 2014, then the required retirement ages under

 

 

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1    subsection (a) are increased by 16 months.
2        (6) If he or she is at least age 41 but less than age 42
3    on June 1, 2014, then the required retirement ages under
4    subsection (a) are increased by 20 months.
5        (7) If he or she is at least age 40 but less than age 41
6    on June 1, 2014, then the required retirement ages under
7    subsection (a) are increased by 24 months.
8        (8) If he or she is at least age 39 but less than age 40
9    on June 1, 2014, then the required retirement ages under
10    subsection (a) are increased by 28 months.
11        (9) If he or she is at least age 38 but less than age 39
12    on June 1, 2014, then the required retirement ages under
13    subsection (a) are increased by 32 months.
14        (10) If he or she is at least age 37 but less than age
15    38 on June 1, 2014, then the required retirement ages under
16    subsection (a) are increased by 36 months.
17        (11) If he or she is at least age 36 but less than age
18    37 on June 1, 2014, then the required retirement ages under
19    subsection (a) are increased by 40 months.
20        (12) If he or she is at least age 35 but less than age
21    36 on June 1, 2014, then the required retirement ages under
22    subsection (a) are increased by 44 months.
23        (13) If he or she is at least age 34 but less than age
24    35 on June 1, 2014, then the required retirement ages under
25    subsection (a) are increased by 48 months.
26        (14) If he or she is at least age 33 but less than age

 

 

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1    34 on June 1, 2014, then the required retirement ages under
2    subsection (a) are increased by 52 months.
3        (15) If he or she is at least age 32 but less than age
4    33 on June 1, 2014, then the required retirement ages under
5    subsection (a) are increased by 56 months.
6        (16) If he or she is less than age 32 on June 1, 2014,
7    then the required retirement ages under subsection (a) are
8    increased by 60 months.
9    Notwithstanding Section 1-103.1, this subsection (b)
10applies without regard to whether or not the Tier 1 member is
11in active service under this Article on or after the effective
12date of this amendatory Act of the 98th General Assembly.
13    (c) A member meeting the above eligibility conditions is
14entitled to a retirement annuity upon written application to
15the board setting forth the date the member wishes the
16retirement annuity to commence. However, the effective date of
17the retirement annuity shall be (i) no earlier than the day
18following the last day of creditable service, regardless of the
19date of official termination of employment, and (ii) in the
20case of a member who is not eligible to retire on the effective
21date of this amendatory Act of the 98th General Assembly, no
22more than 2 years before the date of receipt by the System of
23the application for retirement.
24    For the purpose of Section 1-103.1, the change to this
25subsection made by this amendatory Act of the 98th General
26Assembly is limited to annuities granted on or after the

 

 

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1effective date of this amendatory Act, without regard to
2whether the member is in service on or after that effective
3date.
4    (d) To be eligible for a retirement annuity, a member shall
5not be employed as a teacher in the schools included under this
6System or under Article 17, except (i) as provided in Section
716-118 or 16-150.1, (ii) if the member is disabled (in which
8event, eligibility for salary must cease), or (iii) if the
9System is required by federal law to commence payment due to
10the member's age; the changes to this sentence made by Public
11Act 93-320 apply without regard to whether the member
12terminated employment before or after its effective date.
13(Source: P.A. 98-599, eff. 6-1-14.)
 
14    Section 95. No acceleration or delay. Where this Act makes
15changes in a statute that is represented in this Act by text
16that is not yet or no longer in effect (for example, a Section
17represented by multiple versions), the use of that text does
18not accelerate or delay the taking effect of (i) the changes
19made by this Act or (ii) provisions derived from any other
20Public Act.