95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB2788


 
Introduced 2/26/2007, by Rep. Robert S. Molaro
 
SYNOPSIS AS INTRODUCED:
 		














40 ILCS 5/6-128  from Ch. 108 1/2, par. 6-128



30 ILCS 805/8.31 new











    Amends the Chicago Firefighter Article of the Illinois Pension Code to
base retirement benefits on the highest consecutive 36 months, rather
than 4 years, of salary within the last 10 years of service.
Amends the State Mandates Act to require implementation without reimbursement.
Effective immediately.
















LRB095 09104 AMC 29296 b

















FISCAL NOTE ACT MAY APPLY


PENSION IMPACT NOTE ACT MAY APPLY


STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT
















 


 


A BILL FOR









 











HB2788

LRB095 09104 AMC 29296 b






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    AN ACT in relation to public employee benefits. 

 
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    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 changing 
5
Section 6-128 as follows:
 



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    (40 ILCS 5/6-128)
  (from Ch. 108 1/2, par. 6-128)


7
    Sec. 6-128. Alternative annuity for future entrants.


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    (a) A future entrant who withdraws on or after July 21, 
9
1959,
after completing at least 23 years of service, and for 
10
whom the annuity
otherwise provided in this Article is less 
11
than that stated in this
Section, has a right to receive 
12
annuity as follows:

13
    If he is age 53 or more on withdrawal, his annuity after 
14
withdrawal,
shall be equal to 50% of his average salary.

15
    An employee who reaches compulsory retirement age and who 
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has less
than 23 years of service shall be entitled to a 
17
minimum annuity equal to
an amount determined by the product of 
18
(1) his years of service and (2)
2% of his average salary.

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    An employee who remains in service after qualifying for 
20
annuity under this
Section shall have added to this annuity an 
21
additional 1% of average salary
for each completed year of 
22
service or fraction thereof rendered until July 21,
1959, and 
23
an additional 1% for a total of 2% of average salary from July

 


 






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21, 1959.  Each future entrant who has completed 23 years of 
2
service before
reaching age 53 shall have added to this annuity 
3
1% of average salary for
each completed year of service or 
4
fraction thereof in excess of 23 years up to
age 53.

5
    (b) In lieu of the annuity provided in the foregoing 
6
provisions of this
Section any future entrant who withdraws 
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from the service either (i) after
December 31, 1983 with at 
8
least 22 years of service credit and having
attained age 52 in 
9
the service, or (ii) after December 31, 1984 with at
least 21 
10
years of service credit and having attained age 51 in the 
11
service,
or (iii) after December 31, 1985 with at least 20 
12
years of service credit
and having attained age 50 in the 
13
service, or (iv) after December 31,
1990 with at least 20 years 
14
of service regardless of age, may elect to
receive an annuity, 
15
to begin not earlier than upon attainment of age 50
if under 
16
that age at withdrawal, computed as follows:  an annuity equal

17
to 50% of average salary, plus additional annuity equal to 2% 
18
of
average salary for each completed year of service or 
19
fraction thereof
rendered after his completion of the minimum 
20
number of years of service
required for him to be eligible 
21
under this subsection (b).  However, the
annuity provided under 
22
this subsection (b) may not exceed 75% of
average salary.

23
    (c) In lieu of the annuity provided in any other provision 
24
of this
Section, a future entrant who withdraws from service 
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after
the effective date of this amendatory Act of the 93rd 
26
General Assembly
with at least 20 years of service may elect to 
 


 






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receive an annuity, to begin no
earlier than upon attainment of 
2
age 50 if under that age at withdrawal, equal
to 50% of average 
3
salary plus 2.5% of average salary for each completed year of

4
service or fraction thereof over 20, but not to exceed 75% of 
5
average salary.

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    (d) For the purpose of this Section, "average salary" 
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means:

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        (1) for persons who terminate service before the 
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    effective date of this amendatory Act of the 95th General 
10
    Assembly, the average
of the highest 4 consecutive years of 
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    salary within the last 10 years of
service; or .

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        (2) for persons in service on or after the effective 
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    date of this amendatory Act of the 95th General Assembly, 
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    the average
of the highest 36 consecutive months of salary 
15
    within the last 10 years of
service.

16
(Source: P.A. 93-654, eff. 1-16-04.)


 
17
    Section 90. The State Mandates Act is amended by adding 
18
Section 8.31 as follows:
 
19
    (30 ILCS 805/8.31 new)
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    Sec. 8.31. Exempt mandate. Notwithstanding Sections 6 and 8 
21
of this Act, no reimbursement by the State is required for the 
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implementation of any mandate created by this amendatory Act of 
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the 95th General Assembly.
 
24
    Section 99. Effective date. This Act takes effect upon 
 


 






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becoming law.