95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB0931


 
Introduced 2/8/2007, by Rep. Kevin Joyce
 
SYNOPSIS AS INTRODUCED:
 		













40 ILCS 5/5-136.2 new





30 ILCS 805/8.31 new











    Amends the Chicago Police Article of the Illinois Pension Code.
Provides a compounded 3% annual increase in surviving spouse annuities.
Amends the State Mandates Act to require implementation without reimbursement.
Effective immediately.
















LRB095 06693 AMC 26805 b

















FISCAL NOTE ACT MAY APPLY


PENSION IMPACT NOTE ACT MAY APPLY


STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT
















 


 


A BILL FOR









 









HB0931

LRB095 06693 AMC 26805 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 adding 
5
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% of 
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the original fixed amount of
the annuity on the later of (1) 
11
January 1, 2008, or (2) the January 1 occurring
on or next 
12
following the first anniversary of the granting of the annuity.

13
On each January 1 following the initial increase under this 
14
subsection,
each widow's annuity payable under this Article 
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shall be increased by an amount
equal to 3% of the current 
16
amount of the annuity, including any previous
increases under 
17
this Section.

18
    (b) The limitations on the maximum amount of widow's 
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annuity imposed under
Section 5-148 and the provisions of this 
20
Article on fixation of the amount of
widow's annuity do not 
21
apply to the annual increases provided under this
Section.  The 
22
increases provided under this Section apply without regard to

23
whether or not the deceased employee was in service on or after 
 


 






HB0931
- 2 -
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1
the effective
date of this amendatory Act of the 95th General 
2
Assembly.

3
    (c) The increases provided in this Section do apply to a 
4
compensation or
supplemental annuity under Section 5-144.

5
    The increases provided in this Section do not apply to a 
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reversionary or
term annuity.



 
7
    Section 90. The State Mandates Act is amended by adding 
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Section 8.31 as follows:
 
9
    (30 ILCS 805/8.31 new)
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    Sec. 8.31. Exempt mandate. Notwithstanding Sections 6 and 8 
11
of this Act, no reimbursement by the State is required for the 
12
implementation of any mandate created by this amendatory Act of 
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the 95th General Assembly.
 
14
    Section 99. Effective date. This Act takes effect upon 
15
becoming law.