93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB5750

 

Introduced 2/6/2004, by Michael J. Madigan

 

SYNOPSIS AS INTRODUCED:
 
40 ILCS 5/14-126   from Ch. 108 1/2, par. 14-126

    Amends the State Employee Article of the Illinois Pension Code. Changes the caption to the Section on retirement annuity following nonoccupational disability benefits.


LRB093 17267 LRD 42933 b

PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB5750 LRB093 17267 LRD 42933 b

1     AN ACT in relation to pensions.
 
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 changing
5 Section 14-126 as follows:
 
6     (40 ILCS 5/14-126)  (from Ch. 108 1/2, par. 14-126)
7     Sec. 14-126. Retirement annuity following nonoccupational
8 disability benefit -Rights on expiration -Retirement annuity
9 option on re-entry. Any member having 15 or more years of
10 creditable service, and having attained at least age 55, or
11 having 20 or more years of creditable service and having
12 attained at least age 50, who, after receiving nonoccupational
13 disability benefit for the maximum period of time specified
14 herein is still disabled for service, shall be entitled to
15 receive a retirement annuity beginning the first of the month
16 following application, without regard to whether the member has
17 attained age 60.
18     If a member having 15 but less than 20 years of creditable
19 service is under age 55 when nonoccupational disability
20 benefits terminate, and the member has been continuously
21 disabled for service, the member is entitled upon application
22 to the retirement annuity upon the first of the month after
23 attainment of age 55.
24     If a member having 20 or more years of creditable service
25 is under age 50 when nonoccupational disability benefits
26 terminate, and the member has been continuously disabled for
27 service, the member is entitled upon application to the
28 retirement annuity beginning upon the first of the month after
29 attainment of age 50.
30     As an option to the computation of a retirement annuity in
31 the manner provided in this Article, if a person who retires on
32 a retirement annuity prior to age 60 under the provisions of

 

 

HB5750 - 2 - LRB093 17267 LRD 42933 b

1 this Section re-enters State employment, that person may refund
2 to the system the amount theretofore received as a retirement
3 annuity and upon subsequently retiring from State service shall
4 be entitled to a retirement annuity computed as though that
5 member had not previously received such annuity.
6 (Source: P.A. 80-841.)