Full Text of HB1154 98th General Assembly
HB1154ham002 98TH GENERAL ASSEMBLY | Rep. Michael J. Madigan Filed: 2/26/2013
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| 1 | | AMENDMENT TO HOUSE BILL 1154
| 2 | | AMENDMENT NO. ______. Amend House Bill 1154 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 5. The Illinois Pension Code is amended by adding | 5 | | Sections 2-105.1, 2-105.2, 2-119.2, 14-103.40, 14-103.41, | 6 | | 14-114.1, 15-107.1, 15-107.2, 15-135.5, 16-106.4, 16-106.5, | 7 | | and 16-133.6 as follows: | 8 | | (40 ILCS 5/2-105.1 new) | 9 | | Sec. 2-105.1. Tier I participant. "Tier I participant": A | 10 | | participant who first became a participant before January 1, | 11 | | 2011. | 12 | | (40 ILCS 5/2-105.2 new) | 13 | | Sec. 2-105.2. Tier I retiree. "Tier I retiree": a former | 14 | | Tier I participant who is receiving a retirement annuity. |
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| 1 | | (40 ILCS 5/2-119.2 new) | 2 | | Sec. 2-119.2. Termination of annual increases. | 3 | | Notwithstanding any other provision of this Article, no | 4 | | automatic annual increase in annuity shall be granted in any | 5 | | year in which the System is less than 80% funded as of the last | 6 | | preceding valuation date to (i) any Tier I retiree or (ii) any | 7 | | person receiving a survivor's annuity based on the death of a | 8 | | current or former Tier I participant or Tier I retiree. Annual | 9 | | increases granted before that effective date shall continue in | 10 | | force. | 11 | | For purposes of Section 1-103.1, this Section applies | 12 | | without regard to whether the Tier I participant or Tier I | 13 | | retiree was in service on or after the effective date of this | 14 | | Section. | 15 | | (40 ILCS 5/14-103.40 new) | 16 | | Sec. 14-103.40. Tier I member. "Tier I member": A member of | 17 | | this System who first became a member or participant before | 18 | | January 1, 2011 under any reciprocal retirement system or | 19 | | pension fund established under this Code other than a | 20 | | retirement system or pension fund established under Article 2, | 21 | | 3, 4, 5, 6, or 18 of this Code. | 22 | | (40 ILCS 5/14-103.41 new) | 23 | | Sec. 14-103.41. Tier I retiree. "Tier I retiree": A former | 24 | | Tier I member who is receiving a retirement annuity. |
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| 1 | | (40 ILCS 5/14-114.1 new) | 2 | | Sec. 14-114.1. Termination of Tier I annual increases. | 3 | | Notwithstanding any other provision of this Article, no | 4 | | automatic annual increase in annuity shall be granted in any | 5 | | year in which the System is less than 80% funded as of the last | 6 | | preceding valuation date to (i) any Tier I retiree, (ii) any | 7 | | current or former Tier I member receiving a disability benefit, | 8 | | or (iii) any person receiving a reversionary annuity or a | 9 | | widow's or survivor's annuity based on the death of a current | 10 | | or former Tier I member or Tier I retiree. Annual increases | 11 | | granted before that effective date shall continue in force. | 12 | | This Section does not apply to any annuity payable to a | 13 | | person subject to Section 1-160 with respect to service under | 14 | | this Article, nor to any annuity payable under this Article to | 15 | | the eligible survivor of such a person. For purposes of Section | 16 | | 1-103.1, this Section applies without regard to whether the | 17 | | Tier I member or Tier I retiree was in service on or after the | 18 | | effective date of this Section. | 19 | | (40 ILCS 5/15-107.1 new) | 20 | | Sec. 15-107.1. Tier I participant. "Tier I participant": A | 21 | | participant under this Article, other than a participant in the | 22 | | self-managed plan under Section 15-158.2, who first became a | 23 | | member or participant before January 1, 2011 under any | 24 | | reciprocal retirement system or pension fund established under |
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| 1 | | this Code other than a retirement system or pension fund | 2 | | established under Article 2, 3, 4, 5, 6, or 18 of this Code. | 3 | | (40 ILCS 5/15-107.2 new) | 4 | | Sec. 15-107.2. Tier I retiree. "Tier I retiree": A former | 5 | | Tier I participant who is receiving a retirement annuity. | 6 | | A person does not become a Tier I retiree by virtue of | 7 | | receiving a reversionary, survivors, beneficiary, or | 8 | | disability annuity. | 9 | | (40 ILCS 5/15-135.5 new) | 10 | | Sec. 15-135.5. Termination of Tier I annual increases. | 11 | | Notwithstanding any other provision of this Article, no | 12 | | automatic annual increase in annuity shall be granted in any | 13 | | year in which the System is less than 80% funded as of the last | 14 | | preceding valuation date to (i) any Tier I retiree, (ii) any | 15 | | current or former Tier I participant receiving a disability | 16 | | benefit, or (iii) any person receiving a survivors insurance | 17 | | benefit, reversionary annuity, or other type of annuity based | 18 | | on the death of a current or former Tier I participant or Tier | 19 | | I retiree. Annual increases granted before that effective date | 20 | | shall continue in force. | 21 | | This Section does not apply to any annuity payable to a | 22 | | person subject to Section 1-160 with respect to service under | 23 | | this Article, nor to any annuity payable under this Article to | 24 | | the eligible survivor of such a person. This Section does not |
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| 1 | | apply to benefits, including disability benefits, payable | 2 | | under the self-managed plan. For purposes of Section 1-103.1, | 3 | | this Section applies without regard to whether the Tier I | 4 | | participant or Tier I retiree was in service on or after the | 5 | | effective date of this Section. | 6 | | (40 ILCS 5/16-106.4 new) | 7 | | Sec. 16-106.4. Tier I member. "Tier I member": A member | 8 | | under this Article who first became a member or participant | 9 | | before January 1, 2011 under any reciprocal retirement system | 10 | | or pension fund established under this Code other than a | 11 | | retirement system or pension fund established under Article 2, | 12 | | 3, 4, 5, 6, or 18 of this Code. | 13 | | (40 ILCS 5/16-106.5 new) | 14 | | Sec. 16-106.5. Tier I retiree. "Tier I retiree": A former | 15 | | Tier I member who is receiving a retirement annuity. | 16 | | (40 ILCS 5/16-133.6 new) | 17 | | Sec. 16-133.6. Termination of Tier I annual increases. | 18 | | Notwithstanding any other provision of this Article, no | 19 | | automatic annual increase in annuity shall be granted in any | 20 | | year in which the System is less than 80% funded as of the last | 21 | | preceding valuation date to (i) any Tier I retiree, (ii) any | 22 | | current or former Tier I member receiving a disability benefit, | 23 | | or (iii) any person receiving a reversionary annuity or |
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| 1 | | survivor's benefit based on the death of a current or former | 2 | | Tier I member or Tier I retiree. Annual increases granted | 3 | | before that effective date shall continue in force. | 4 | | This Section does not apply to any annuity payable to a | 5 | | person subject to Section 1-160 with respect to service under | 6 | | this Article, nor to any annuity payable under this Article to | 7 | | the eligible survivor of such a person. For purposes of Section | 8 | | 1-103.1, this Section applies without regard to whether the | 9 | | Tier I member or Tier I retiree was in service on or after the | 10 | | effective date of this Section.
| 11 | | Section 99. Effective date. This Act takes effect upon | 12 | | becoming law.".
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