093_HB0522
LRB093 06102 LRD 06207 b
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 7-144.3 as follows:
6 (40 ILCS 5/7-144.3) (from Ch. 108 1/2, par. 7-144.3)
7 Sec. 7-144.3. Supplemental benefit payment.
8 (a) A supplemental benefit payment, consisting of a sum
9 calculated as provided in subsection (c), shall be payable to
10 each eligible retirement annuitant and surviving spouse
11 annuitant on July 1, 1993, and on each subsequent July 1;
12 except that if this Code is amended to change the
13 uncompounded annual increase in retirement annuity granted in
14 subsection (c) of Section 7-142 to a compounded annual
15 increase, no supplemental benefit shall be paid under this
16 Section on any July 1 occurring on or after the effective
17 date of that amendment. The amount of the supplemental
18 benefit payment, and a person's eligibility to receive the
19 supplemental benefit payment, shall be redetermined for each
20 year in which the benefit is payable.
21 (b) To be eligible to receive a supplemental benefit
22 payment, a person must be entitled to receive a retirement
23 annuity or surviving spouse annuity from the Fund on the July
24 1 supplemental benefit payment date, and must have been
25 receiving that annuity during each of the 12 months
26 immediately preceding that date; except that a surviving
27 spouse annuitant whose surviving spouse annuity began less
28 than one year before the July 1 supplemental benefit payment
29 date shall be eligible if the deceased spouse received a
30 retirement annuity from the Fund during the period from the
31 previous July 1 until the start of the surviving spouse
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1 annuity.
2 (c) The amount of the supplemental benefit payment shall
3 be determined by the Board as follows:
4 (1) The total amount available for the payment of
5 supplemental benefit payments under this Section in any
6 year before the year 2004 shall be 0.62% of the last
7 annual participating payroll for all participating
8 municipalities and participating instrumentalities in the
9 Fund, as determined and reconciled by the Fund. The
10 total amount available for the payment of supplemental
11 benefit payments under this Section in the year 2004 and
12 in each year thereafter shall be 0.80% of the last annual
13 participating payroll for all participating
14 municipalities and participating instrumentalities in the
15 Fund, as determined and reconciled by the Fund.
16 (2) The amount of the supplemental benefit payment
17 to each eligible person shall be a portion of the total
18 amount available under paragraph (1), equal to that
19 portion of the total amount payable by the Fund to all
20 eligible persons for retirement and surviving spouse
21 annuities in the June preceding the July 1 supplemental
22 benefit payment date, that is payable to the eligible
23 person in that month.
24 (3) Notwithstanding paragraph (2), the amount of
25 any supplemental benefit payment paid to an annuitant
26 under this Section shall not exceed any benefit
27 limitations established by the federal government for
28 qualified public pension plans.
29 (Source: P.A. 87-850.)
30 Section 90. The State Mandates Act is amended by adding
31 Section 8.27 as follows:
32 (30 ILCS 805/8.27 new)
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1 Sec. 8.27. Exempt mandate. Notwithstanding Sections 6
2 and 8 of this Act, no reimbursement by the State is required
3 for the implementation of any mandate created by this
4 amendatory Act of the 93rd General Assembly.
5 Section 99. Effective date. This Act takes effect upon
6 becoming law.