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1 | AN ACT concerning public employee benefits.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Illinois Pension Code is amended by | |||||||||||||||||||||
5 | changing Sections 15-135 and 15-198 as follows:
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6 | (40 ILCS 5/15-135) (from Ch. 108 1/2, par. 15-135)
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7 | Sec. 15-135. Retirement annuities; conditions.
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8 | (a) This subsection (a) applies only to a Tier 1 member. A | |||||||||||||||||||||
9 | participant who retires in one of the following specified | |||||||||||||||||||||
10 | years with
the specified amount of service is entitled to a | |||||||||||||||||||||
11 | retirement annuity at any age
under the retirement program | |||||||||||||||||||||
12 | applicable to the participant:
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13 | 35 years if retirement is in 1997 or before;
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14 | 34 years if retirement is in 1998;
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15 | 33 years if retirement is in 1999;
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16 | 32 years if retirement is in 2000;
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17 | 31 years if retirement is in 2001;
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18 | 30 years if retirement is in 2002 or later.
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19 | A participant with 8 or more years of service after | |||||||||||||||||||||
20 | September 1, 1941, is
entitled to a retirement annuity on or | |||||||||||||||||||||
21 | after attainment of age 55.
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22 | A participant with at least 5 but less than 8 years
of | |||||||||||||||||||||
23 | service after September 1, 1941, is entitled to a retirement |
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1 | annuity on
or after attainment of age 62.
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2 | A participant who has at least 25 years of service in this | ||||||
3 | system as a
police officer or firefighter is entitled to a | ||||||
4 | retirement
annuity on or after the attainment of age 50, if | ||||||
5 | Rule 4 of Section
15-136 is applicable to the participant.
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6 | (a-5) A Tier 2 member is entitled to a retirement annuity | ||||||
7 | upon written application if he or she has attained age 67 and | ||||||
8 | has at least 10 years of service credit and is otherwise | ||||||
9 | eligible under the requirements of this Article. A Tier 2 | ||||||
10 | member who has attained age 62 and has at least 10 years of | ||||||
11 | service credit and is otherwise eligible under the | ||||||
12 | requirements of this Article may elect to receive the lower | ||||||
13 | retirement annuity provided in subsection (b-5) of Section | ||||||
14 | 15-136 of this Article. | ||||||
15 | (a-10) A Tier 2 member who has at least 20 years of service | ||||||
16 | in this system as a police officer or firefighter is entitled | ||||||
17 | to a retirement annuity upon written application on or after | ||||||
18 | the attainment of age 55 60 if Rule 4 of Section 15-136 is | ||||||
19 | applicable to the participant. The changes made to this | ||||||
20 | subsection by this amendatory Act of the 103rd General | ||||||
21 | Assembly this amendatory Act of the 101st General Assembly | ||||||
22 | apply retroactively to January 1, 2011. | ||||||
23 | (b) The annuity payment period shall begin on the date | ||||||
24 | specified by the
participant or the recipient of a disability | ||||||
25 | retirement annuity submitting a written application. For a | ||||||
26 | participant, the date on which the annuity payment period |
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1 | begins shall not be prior
to termination of employment or more | ||||||
2 | than one year before the application is
received by the board; | ||||||
3 | however, if the participant is not an employee of an
employer | ||||||
4 | participating in this System or in a participating system as | ||||||
5 | defined
in Article 20 of this Code on April 1 of the calendar | ||||||
6 | year next following
the calendar year in which the participant | ||||||
7 | attains the age specified under Section 401(a)(9) of the | ||||||
8 | Internal Revenue Code of 1986, as amended, the annuity
payment | ||||||
9 | period shall begin on that date regardless of whether an | ||||||
10 | application
has been filed. For a recipient of a disability | ||||||
11 | retirement annuity, the date on which the annuity payment | ||||||
12 | period begins shall not be prior to the discontinuation of the | ||||||
13 | disability retirement annuity under Section 15-153.2.
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14 | (c) An annuity is not payable if the amount provided under | ||||||
15 | Section
15-136 is less than $10 per month.
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16 | (Source: P.A. 101-610, eff. 1-1-20; 102-210, eff. 7-30-21.)
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17 | (40 ILCS 5/15-198)
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18 | Sec. 15-198. Application and expiration of new benefit | ||||||
19 | increases. | ||||||
20 | (a) As used in this Section, "new benefit increase" means | ||||||
21 | an increase in the amount of any benefit provided under this | ||||||
22 | Article, or an expansion of the conditions of eligibility for | ||||||
23 | any benefit under this Article, that results from an amendment | ||||||
24 | to this Code that takes effect after June 1, 2005 (the | ||||||
25 | effective date of Public Act 94-4). "New benefit increase", |
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1 | however, does not include any benefit increase resulting from | ||||||
2 | the changes made to Article 1 or this Article by Public Act | ||||||
3 | 100-23, Public Act 100-587, Public Act 100-769, Public Act | ||||||
4 | 101-10, Public Act 101-610, Public Act 102-16, or this | ||||||
5 | amendatory Act of the 103rd General Assembly this amendatory | ||||||
6 | Act of the 102nd General Assembly . | ||||||
7 | (b) Notwithstanding any other provision of this Code or | ||||||
8 | any subsequent amendment to this Code, every new benefit | ||||||
9 | increase is subject to this Section and shall be deemed to be | ||||||
10 | granted only in conformance with and contingent upon | ||||||
11 | compliance with the provisions of this Section.
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12 | (c) The Public Act enacting a new benefit increase must | ||||||
13 | identify and provide for payment to the System of additional | ||||||
14 | funding at least sufficient to fund the resulting annual | ||||||
15 | increase in cost to the System as it accrues. | ||||||
16 | Every new benefit increase is contingent upon the General | ||||||
17 | Assembly providing the additional funding required under this | ||||||
18 | subsection. The Commission on Government Forecasting and | ||||||
19 | Accountability shall analyze whether adequate additional | ||||||
20 | funding has been provided for the new benefit increase and | ||||||
21 | shall report its analysis to the Public Pension Division of | ||||||
22 | the Department of Insurance. A new benefit increase created by | ||||||
23 | a Public Act that does not include the additional funding | ||||||
24 | required under this subsection is null and void. If the Public | ||||||
25 | Pension Division determines that the additional funding | ||||||
26 | provided for a new benefit increase under this subsection is |
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1 | or has become inadequate, it may so certify to the Governor and | ||||||
2 | the State Comptroller and, in the absence of corrective action | ||||||
3 | by the General Assembly, the new benefit increase shall expire | ||||||
4 | at the end of the fiscal year in which the certification is | ||||||
5 | made.
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6 | (d) Every new benefit increase shall expire 5 years after | ||||||
7 | its effective date or on such earlier date as may be specified | ||||||
8 | in the language enacting the new benefit increase or provided | ||||||
9 | under subsection (c). This does not prevent the General | ||||||
10 | Assembly from extending or re-creating a new benefit increase | ||||||
11 | by law. | ||||||
12 | (e) Except as otherwise provided in the language creating | ||||||
13 | the new benefit increase, a new benefit increase that expires | ||||||
14 | under this Section continues to apply to persons who applied | ||||||
15 | and qualified for the affected benefit while the new benefit | ||||||
16 | increase was in effect and to the affected beneficiaries and | ||||||
17 | alternate payees of such persons, but does not apply to any | ||||||
18 | other person, including, without limitation, a person who | ||||||
19 | continues in service after the expiration date and did not | ||||||
20 | apply and qualify for the affected benefit while the new | ||||||
21 | benefit increase was in effect.
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22 | (Source: P.A. 101-10, eff. 6-5-19; 101-81, eff. 7-12-19; | ||||||
23 | 101-610, eff. 1-1-20; 102-16, eff. 6-17-21.)
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