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1 | AN ACT in relation to public employee benefits.
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2 | Be it enacted by the People of the State of Illinois, | ||||||||||||||||||||||||||||
3 | represented in the General Assembly:
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4 | Section 5. The Illinois Pension Code is amended by changing | ||||||||||||||||||||||||||||
5 | Sections 5-132
and 5-148 as follows:
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6 | (40 ILCS 5/5-132)
(from Ch. 108 1/2, par. 5-132)
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7 | Sec. 5-132. Minimum annuity. | ||||||||||||||||||||||||||||
8 | (1) Any policeman who withdraws on or after
July 8, 1957, | ||||||||||||||||||||||||||||
9 | or any policeman
transferred to the police service of the city | ||||||||||||||||||||||||||||
10 | under the Exchange of
Functions Act of 1957 who withdraws on or | ||||||||||||||||||||||||||||
11 | after July 17, 1959, after
completing at least 20 years of | ||||||||||||||||||||||||||||
12 | service, for whom the
annuity otherwise provided in this | ||||||||||||||||||||||||||||
13 | Article is less than that stated in this
Section has a right to | ||||||||||||||||||||||||||||
14 | receive annuity as follows:
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15 | (a) If he is age 55 or more on withdrawal, his annuity | ||||||||||||||||||||||||||||
16 | after such
withdrawal , shall be equal to 2% of the average | ||||||||||||||||||||||||||||
17 | salary for 4 consecutive
years of highest salaries within | ||||||||||||||||||||||||||||
18 | the last 10 years of service before
withdrawal, for each | ||||||||||||||||||||||||||||
19 | year of service, together with 1/6 of 1% of such
average | ||||||||||||||||||||||||||||
20 | salary for each complete month of service of each | ||||||||||||||||||||||||||||
21 | fractional year,
but not in excess of 75% of the average | ||||||||||||||||||||||||||||
22 | annual salary.
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23 | (b) If he is age 50 or more but less than age 55 on |
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1 | withdrawal, his
annuity shall be equal to 2% of the average | ||||||
2 | salary for the 4 highest
consecutive years of the last 10 | ||||||
3 | years of service for each year of service,
together with | ||||||
4 | 1/16 of 1% of such average salary for each month of each
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5 | fractional year of service, reduced by 1/2 of 1% for each | ||||||
6 | month that he is
less than age 55.
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7 | (c) If he is less than age 50 on withdrawal, he may, | ||||||
8 | upon attainment of
age 50 or over, become entitled to the | ||||||
9 | annuity provided in this Section or,
he may, upon | ||||||
10 | application before age 50, receive a refund of the | ||||||
11 | deductions
from salary, plus interest at 1 1/2% per annum | ||||||
12 | if he is entitled to refund
under Section 5-163.
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13 | (d) In lieu of the annuity provided in the foregoing | ||||||
14 | provisions of this
Section 5-132 any policeman who | ||||||
15 | withdraws from the service after December
31, 1973, after | ||||||
16 | having attained age 53 in the service with
23 or more years | ||||||
17 | of service credit shall be entitled to an
annuity computed | ||||||
18 | as follows if such annuity is greater than that provided
in | ||||||
19 | the foregoing paragraphs of this Section 5-132: An annuity | ||||||
20 | equal to
50% of the average salary for the 4
highest | ||||||
21 | consecutive years of the last 10 years of service plus
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22 | additional annuity equal to 2% of such average salary for | ||||||
23 | each completed
year of service or fraction
thereof rendered | ||||||
24 | after his attainment of age 53 and the completion
of 23 | ||||||
25 | years of service.
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26 | Any policeman who has completed 23 years of service |
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1 | prior to
his attainment of age 53 in the service and | ||||||
2 | continues in the
service until his attainment of age 53 | ||||||
3 | shall have added to his
annuity, computed as provided in | ||||||
4 | the immediately preceding paragraph, an
additional annuity | ||||||
5 | equal to 1% of such average salary for each
completed year | ||||||
6 | of service or fraction thereof in excess of 23
years up to | ||||||
7 | age 53.
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8 | (e) In lieu of the annuity provided in the foregoing | ||||||
9 | provisions of this
Section any policeman who withdraws from | ||||||
10 | the service either (i) after
December 31, 1983 with at | ||||||
11 | least 22 years of service credit and having
attained age 52 | ||||||
12 | in the service, or (ii) after December 31, 1984 with at
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13 | least 21 years of service credit and having attained age 51 | ||||||
14 | in the service,
or (iii) after December 31, 1985 with at | ||||||
15 | least 20 years of service credit
and having attained age 50 | ||||||
16 | in the service, or (iv) after December 31,
1990, with at | ||||||
17 | least 20 years of service credit regardless of age, shall
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18 | be entitled to an annuity to begin not earlier than upon | ||||||
19 | attainment of
age 50 if under such age at withdrawal, | ||||||
20 | computed as follows: an annuity
equal to 50% of the average | ||||||
21 | salary for the 4 highest consecutive years of the
last 10 | ||||||
22 | years of service, plus additional annuity equal to 2% of | ||||||
23 | such average
salary for each completed year of service or | ||||||
24 | fraction thereof rendered after
his completion of the | ||||||
25 | minimum number of years of service required for him to be
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26 | eligible under this subsection (e). In lieu of any annuity |
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1 | provided in the
foregoing provisions of this Section, any | ||||||
2 | policeman who withdraws from the
service after December 31, | ||||||
3 | 2003, with at least 20 years of service credit
regardless | ||||||
4 | of age, shall be entitled to an annuity to begin not | ||||||
5 | earlier than
upon attainment of age 50, if under that age | ||||||
6 | at withdrawal, equal to 2.5% of
the average salary for the | ||||||
7 | 4 highest consecutive years of the last 10 years of
service | ||||||
8 | for each completed year of service or fraction thereof. | ||||||
9 | However,
the annuity provided under this subsection (e) may | ||||||
10 | not exceed 75% of such
average salary.
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11 | (f) In lieu of the annuity provided in the foregoing | ||||||
12 | provisions
of this Section, a policeman who withdraws from | ||||||
13 | service after
the effective date of this amendatory Act of | ||||||
14 | the 96th General Assembly
with at least 20 years of service | ||||||
15 | credit may elect to receive an annuity,
to begin not | ||||||
16 | earlier than upon attainment of age 50 if under that age at
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17 | withdrawal, equal to 50% of average salary plus 2.5% of | ||||||
18 | average salary for
each completed year of service or | ||||||
19 | fraction thereof in excess of 20, but not
to exceed a | ||||||
20 | maximum of 80% of average salary. | ||||||
21 | (2) A policeman withdrawing after September 1, 1969, may, | ||||||
22 | in addition, be
entitled to the benefits provided by Section | ||||||
23 | 5-167.1 of this Article if he
so qualifies under that Section.
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24 | (3) If, on withdrawal, total service is less than 20 years, | ||||||
25 | the policeman
shall not be entitled to an annuity under this | ||||||
26 | Section but may receive an
annuity under the other provisions |
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1 | of this Article or, if entitled thereto
under Section 5--163, a | ||||||
2 | refund of the deductions from salary, including, in
the case of | ||||||
3 | policemen transferred to the police service of the city under
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4 | the Exchange of Functions Act of 1957, the additional | ||||||
5 | contribution paid on
salary received from August 1, 1957, to | ||||||
6 | July 17, 1959, as provided in the
Park Policemen's Annuity Act, | ||||||
7 | together with interest at 1 1/2% per annum.
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8 | Moneys voluntarily contributed under the Policemen's | ||||||
9 | Annuity and Benefit
Fund Act of the Illinois Municipal Code, or | ||||||
10 | the Park Policemen's Annuity
Act, shall be refunded to the | ||||||
11 | contributing policemen who were in service on
January 1, 1954, | ||||||
12 | or in the case of policemen transferred to the police
service | ||||||
13 | of the city under the Exchange of Functions Act of 1957, who | ||||||
14 | were
in service on July 17, 1959.
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15 | The age and service annuity formula in this Section shall | ||||||
16 | not apply to
any policeman who, having retired before July 8, | ||||||
17 | 1957, or before July 17,
1959, in the case of a policeman | ||||||
18 | transferred under the provisions of the
Exchange of Functions | ||||||
19 | Act of 1957, re-enters the police service after such
dates, | ||||||
20 | whichever are applicable.
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21 | (4) For the purpose of this Section and Section 5-148, | ||||||
22 | "average salary"
means the average of the highest 4 consecutive | ||||||
23 | years of salary within the last
10 years of service.
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24 | (Source: P.A. 93-654, eff. 1-16-04.)
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25 | (40 ILCS 5/5-148) (from Ch. 108 1/2, par. 5-148)
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1 | Sec. 5-148. Maximum annuities. No annuity in excess of 75% | ||||||
2 | of the highest
salary considered for annuity purposes in | ||||||
3 | accordance with this Article
(80% of average salary in the case | ||||||
4 | of a policeman whose annuity is
calculated under subdivision | ||||||
5 | (1)(f) of Section 5-132)
shall be payable to a policeman, or to | ||||||
6 | the widow of a policeman
whose death results from injury | ||||||
7 | incurred in the performance of an act of
duty. No amount of | ||||||
8 | annuity in excess of $500 per month shall be payable
to the | ||||||
9 | widow of a policeman whose death results from any cause other
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10 | than injury incurred in the performance of an act of duty, | ||||||
11 | except as
provided in Section 5-136.1.
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12 | If, when a policeman's annuity is fixed, there is to his | ||||||
13 | credit, for such
annuity, an amount in excess of that necessary | ||||||
14 | to provide an annuity of 75%
of his highest salary (80% of | ||||||
15 | average salary in the case of a policeman whose
annuity is | ||||||
16 | calculated under subdivision (1)(f) of Section 5-132) , 7/24 of
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17 | such excess shall be refunded if the policeman is a future | ||||||
18 | entrant; and if he
is a present employee, there shall be | ||||||
19 | refunded , a part of such excess
amount proportionately equal to | ||||||
20 | that part of the entire amount to his credit
for such annuity | ||||||
21 | purposes, which the sum that has resulted from salary
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22 | deductions bears to such entire amount.
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23 | Until January 1, 1986, if, when a widow's annuity is fixed, | ||||||
24 | there is to the
policeman's credit, for widow's annuity, an | ||||||
25 | amount in excess of that necessary
to provide an annuity of | ||||||
26 | $500 per month, 1/3 of such excess shall be refunded
to the |
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1 | policeman if he is a future entrant; and, if he is a present | ||||||
2 | employee,
there shall be refunded a part of such excess amount | ||||||
3 | proportionately equal to
that part of the entire amount to his | ||||||
4 | credit for such annuity purposes which
the sum that has | ||||||
5 | resulted from employee contributions bears to such entire
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6 | amount. If the widow's annuity is fixed on or after January 1, | ||||||
7 | 1986, no refund
of excess contributions shall be made under | ||||||
8 | this paragraph.
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9 | Until January 1, 1986, if at the time of the death of a | ||||||
10 | policeman
resulting from injury
incurred in the performance of | ||||||
11 | an act of duty, there is to his credit,
for widow's annuity, an | ||||||
12 | amount in excess of that necessary to provide an
annuity of 75% | ||||||
13 | of his highest salary, or $500 per month if death results
from | ||||||
14 | any other cause, 1/3 of such excess shall be refunded to his | ||||||
15 | widow
if he was a future entrant; and, if he was a present | ||||||
16 | employee, there
shall be refunded to his widow a part of such | ||||||
17 | excess amount
proportionately equal to that part of the entire | ||||||
18 | amount to his credit
for such annuity purposes which the sum | ||||||
19 | that has resulted from employee's
contributions bears to such | ||||||
20 | entire amount. If employee dies in service
on or after January | ||||||
21 | 1, 1986, no refund of excess contributions shall be
made under | ||||||
22 | this paragraph.
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23 | This amendatory Act of 1972 does not increase the amount of | ||||||
24 | any
widow's annuity which is fixed before the effective date of | ||||||
25 | this
amendatory Act of 1972.
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26 | (Source: P.A. 84-1104.)
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1 | Section 90. The State Mandates Act is amended by adding | ||||||
2 | Section 8.33 as follows: | ||||||
3 | (30 ILCS 805/8.33 new) | ||||||
4 | Sec. 8.33. Exempt mandate. Notwithstanding Sections 6 and 8 | ||||||
5 | of this Act, no reimbursement by the State is required for the | ||||||
6 | implementation of any mandate created by this amendatory Act of | ||||||
7 | the 96th General Assembly. | ||||||
8 | Section 99. Effective date. This Act takes effect upon | ||||||
9 | becoming law. |