Public Act 099-0747
 
SB2972 EnrolledLRB099 18190 EFG 42558 b

    AN ACT concerning public employee benefits.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The Illinois Pension Code is amended by changing
Section 7-166 as follows:
 
    (40 ILCS 5/7-166)  (from Ch. 108 1/2, par. 7-166)
    Sec. 7-166. Separation benefits - Eligibility. Separation
benefits shall be payable as hereinafter set forth:
        1. Upon separation from the service of all
    participating municipalities and instrumentalities thereof
    and participating instrumentalities, any participating
    employee who, on the date of application for such benefit,
    is not entitled to a retirement annuity shall be entitled
    to a separation benefit.
        2. Upon separation from the service of all
    participating municipalities and instrumentalities thereof
    and participating instrumentalities, any participating
    employee who, on the date of application for such benefit,
    is entitled to a retirement annuity of less than $100 $30
    per month for life may elect to take a separation benefit
    in lieu of the retirement annuity.
        3. Upon separation from the service of all
    participating municipalities and instrumentalities thereof
    and participating instrumentalities, any participating
    employee who, on the date of application for such benefit,
    is entitled to a retirement annuity, but wishes instead to
    use the amounts to his or her credit in the Fund to
    purchase credit in another retirement plan, may elect to
    take a separation benefit in lieu of the retirement
    annuity.
(Source: P.A. 91-887, eff. 7-6-00; 92-424, eff. 8-17-01.)
 
    Section 99. Effective date. This Act takes effect January
1, 2017.