97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB1872

 

Introduced 2/10/2011, by Sen. Kwame Raoul

 

SYNOPSIS AS INTRODUCED:
 
40 ILCS 5/5-136.2 new

    Amends the Chicago Police Article of the Illinois Pension Code. Provides that the amount of the annuity of a widow of a policeman who first became a participant of the fund before January 1, 2011 and the annual increases in that annuity shall be equal to the annuity and annual increases provided for the widow of a policeman who first became a participant of the fund on or after that date.


LRB097 09737 JDS 49874 b

FISCAL NOTE ACT MAY APPLY
PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB1872LRB097 09737 JDS 49874 b

1    AN ACT concerning public employee benefits.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Pension Code is amended by adding
5Section 5-136.2 as follows:
 
6    (40 ILCS 5/5-136.2 new)
7    Sec. 5-136.2. Parity of widows' annuities.
8    (a) Notwithstanding any other provision of this Article,
9for a widow of a policeman who first became a participant of
10the fund before January 1, 2011, the annuity to which the widow
11is entitled shall be in the amount of 66 2/3% of the
12policeman's earned annuity at the date of death. The provisions
13of this Section apply without regard to whether the policeman
14is in service on its effective date. In the case of a person
15who is receiving a widows' annuity on the effective date of
16this amendatory Act of the 97th General Assembly, the annuity
17shall be recalculated to reflect, (i) the changes made by this
18Section in the amount of the original annuity and (ii) any
19annual increases that the annuitant is entitled to under this
20Act, and the resulting increase shall become payable on the
21next annuity payment date.
22    (b) Notwithstanding any other provision of this Article,
23the monthly annuity of a widow of a person who first became a

 

 

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1policeman under this Article before January 1, 2011 shall be
2increased on January 1, 2013 or the January 1 after attainment
3of age 60 by the recipient of the survivor's annuity, whichever
4occurs later, and each January 1 thereafter by 3% or one-half
5the annual unadjusted percentage increase (but not less than
6zero) in the consumer price index-u for the 12 months ending
7with the September preceding each November 1, whichever is
8less, of the originally granted annuity. If the annual
9unadjusted percentage change in the consumer price index-u for
10a 12-month period ending in September is zero or, when compared
11with the preceding period, decreases, then the annuity shall
12not be increased.
13    (c) For the purposes of this Section, "consumer price
14index-u" means the index published by the Bureau of Labor
15Statistics of the United States Department of Labor that
16measures the average change in prices of goods and services
17purchased by all urban consumers, United States city average,
18all items, 1982-84 = 100. The new amount resulting from each
19annual adjustment shall be determined by the Public Pension
20Division of the Department of Insurance and made available to
21the boards of the pension funds.