Illinois General Assembly - Full Text of SB3954
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Full Text of SB3954  102nd General Assembly

SB3954enr 102ND GENERAL ASSEMBLY

  
  
  

 


 
SB3954 EnrolledLRB102 23200 RPS 32362 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
5changing Sections 16-132 and 16-203 as follows:
 
6    (40 ILCS 5/16-132)  (from Ch. 108 1/2, par. 16-132)
7    (Text of Section WITHOUT the changes made by P.A. 98-599,
8which has been held unconstitutional)
9    Sec. 16-132. Retirement annuity eligibility. A member who
10has at least 20 years of creditable service is entitled to a
11retirement annuity upon or after attainment of age 55. A
12member who has at least 10 but less than 20 years of creditable
13service is entitled to a retirement annuity upon or after
14attainment of age 60. A member who has at least 5 but less than
1510 years of creditable service is entitled to a retirement
16annuity upon or after attainment of age 62. A member who (i)
17has earned during the period immediately preceding the last
18day of service at least one year of contributing creditable
19service as an employee of a department as defined in Section
2014-103.04, (ii) has earned at least 5 years of contributing
21creditable service as an employee of a department as defined
22in Section 14-103.04, and (iii) retires on or after January 1,
232001 is entitled to a retirement annuity upon or after

 

 

SB3954 Enrolled- 2 -LRB102 23200 RPS 32362 b

1attainment of an age which, when added to the number of years
2of his or her total creditable service, equals at least 85.
3Portions of years shall be counted as decimal equivalents.
4    A member who is eligible to receive a retirement annuity
5of at least 74.6% of final average salary and will attain age
655 on or before December 31 during the year which commences on
7July 1 shall be deemed to attain age 55 on the preceding June
81.
9    A member meeting the above eligibility conditions is
10entitled to a retirement annuity upon written application to
11the board setting forth the date the member wishes the
12retirement annuity to commence. However, the effective date of
13the retirement annuity shall be no earlier than the day
14following the last day of creditable service, regardless of
15the date of official termination of employment; except that
16the effective date of a retirement annuity may be after the
17date of official termination of employment as long as such
18employment is for (1) less than 10 days in length and (2) less
19than $2,000 in compensation.
20    To be eligible for a retirement annuity, a member shall
21not be employed as a teacher in the schools included under this
22System or under Article 17, except (i) as provided in Section
2316-118 or 16-150.1, (ii) if the member is disabled (in which
24event, eligibility for salary must cease), or (iii) if the
25System is required by federal law to commence payment due to
26the member's age; the changes to this sentence made by this

 

 

SB3954 Enrolled- 3 -LRB102 23200 RPS 32362 b

1amendatory Act of the 93rd General Assembly apply without
2regard to whether the member terminated employment before or
3after its effective date.
4(Source: P.A. 93-320, eff. 7-23-03.)
 
5    (40 ILCS 5/16-203)
6    Sec. 16-203. Application and expiration of new benefit
7increases.
8    (a) As used in this Section, "new benefit increase" means
9an increase in the amount of any benefit provided under this
10Article, or an expansion of the conditions of eligibility for
11any benefit under this Article, that results from an amendment
12to this Code that takes effect after June 1, 2005 (the
13effective date of Public Act 94-4). "New benefit increase",
14however, does not include any benefit increase resulting from
15the changes made to Article 1 or this Article by Public Act
1695-910, Public Act 100-23, Public Act 100-587, Public Act
17100-743, Public Act 100-769, Public Act 101-10, or Public Act
18101-49, Public Act 102-16, or this amendatory Act of the 102nd
19General Assembly this amendatory Act of the 102nd General
20Assembly.
21    (b) Notwithstanding any other provision of this Code or
22any subsequent amendment to this Code, every new benefit
23increase is subject to this Section and shall be deemed to be
24granted only in conformance with and contingent upon
25compliance with the provisions of this Section.

 

 

SB3954 Enrolled- 4 -LRB102 23200 RPS 32362 b

1    (c) The Public Act enacting a new benefit increase must
2identify and provide for payment to the System of additional
3funding at least sufficient to fund the resulting annual
4increase in cost to the System as it accrues.
5    Every new benefit increase is contingent upon the General
6Assembly providing the additional funding required under this
7subsection. The Commission on Government Forecasting and
8Accountability shall analyze whether adequate additional
9funding has been provided for the new benefit increase and
10shall report its analysis to the Public Pension Division of
11the Department of Insurance. A new benefit increase created by
12a Public Act that does not include the additional funding
13required under this subsection is null and void. If the Public
14Pension Division determines that the additional funding
15provided for a new benefit increase under this subsection is
16or has become inadequate, it may so certify to the Governor and
17the State Comptroller and, in the absence of corrective action
18by the General Assembly, the new benefit increase shall expire
19at the end of the fiscal year in which the certification is
20made.
21    (d) Every new benefit increase shall expire 5 years after
22its effective date or on such earlier date as may be specified
23in the language enacting the new benefit increase or provided
24under subsection (c). This does not prevent the General
25Assembly from extending or re-creating a new benefit increase
26by law.

 

 

SB3954 Enrolled- 5 -LRB102 23200 RPS 32362 b

1    (e) Except as otherwise provided in the language creating
2the new benefit increase, a new benefit increase that expires
3under this Section continues to apply to persons who applied
4and qualified for the affected benefit while the new benefit
5increase was in effect and to the affected beneficiaries and
6alternate payees of such persons, but does not apply to any
7other person, including, without limitation, a person who
8continues in service after the expiration date and did not
9apply and qualify for the affected benefit while the new
10benefit increase was in effect.
11(Source: P.A. 101-10, eff. 6-5-19; 101-49, eff. 7-12-19;
12101-81, eff. 7-12-19; 102-16, eff. 6-17-21; 102-558, eff.
138-20-21; revised 10-15-21.)
 
14    Section 99. Effective date. This Act takes effect upon
15becoming law.