Illinois General Assembly - Bill Status for SB2957
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 Bill Status of SB2957  102nd General Assembly


Short Description:  PEN CD-CHI LABORERS-ANNUITY

Senate Sponsors
Sen. Robert F. Martwick

Last Action
DateChamber Action
  12/15/2021SenateReferred to Assignments

Statutes Amended In Order of Appearance
40 ILCS 5/11-159from Ch. 108 1/2, par. 11-159
40 ILCS 5/11-159.1 new
30 ILCS 805/8.45 new


Synopsis As Introduced
Amends the Chicago Laborer Article of the Illinois Pension Code. For Tier 1 participants: provides that if the minimum annuity applies and is greater than the annuity provided under the annuity after withdrawal while disabled provisions, then the minimum annuity shall apply; provides that the annuity for withdrawal while disabled shall be subject to automatic annual increases; provides that if the minimum widow's annuity applies and is greater than the spouse's annuity under the annuity after withdrawal while disabled provisions, then the minimum widow's annuity shall apply; and provides that any widow's annuity shall not be subject to any automatic annual increases. For Tier 2 participants: provides that an employee whose disability continues after the employee has received ordinary disability benefits for the maximum period of time and who withdraws before becoming eligible for a retirement annuity while still so disabled is entitled to receive an annuity in such amount as can be provided from the total sum accumulated to the employee's credit from employee and employer contributions, to be computed as of the employee's age on the date of withdrawal; provides that the annuity shall not be subject to any automatic annual increases and that the minimum annuity shall not apply; provides that the annuity to which the employee's spouse shall be entitled upon the employee's death shall be fixed on the date of the employee's withdrawal and shall be provided on a reversionary annuity basis; and provides that the annuity shall not be subject to any automatic annual increases and that the minimum widow's annuity shall not apply. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions 
DateChamber Action
  12/15/2021SenateFiled with Secretary by Sen. Robert F. Martwick
  12/15/2021SenateFirst Reading
  12/15/2021SenateReferred to Assignments

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