Full Text of SB3517 98th General Assembly
SB3517 98TH GENERAL ASSEMBLY |
| | 98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014 SB3517 Introduced 2/14/2014, by Sen. Daniel Biss SYNOPSIS AS INTRODUCED: |
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40 ILCS 5/16-132 | from Ch. 108 1/2, par. 16-132 |
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Amends the Downstate Teacher Article of the Illinois Pension Code. Provides that the effective date of a
retirement annuity shall be no earlier than 2 years before the date of receipt by the System of the application for retirement. Contains a nonacceleration provision.
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| | FISCAL NOTE ACT MAY APPLY | | PENSION IMPACT NOTE ACT MAY APPLY |
| | A BILL FOR |
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| 1 | | AN ACT concerning public employee benefits.
| 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 16-132 as follows:
| 6 | | (40 ILCS 5/16-132) (from Ch. 108 1/2, par. 16-132)
| 7 | | (Text of Section before amendment by P.A. 98-599 )
| 8 | | Sec. 16-132. Retirement annuity eligibility. A member who | 9 | | has at least 20 years of creditable service is entitled to a
| 10 | | retirement annuity upon or after attainment of age 55.
A member | 11 | | who has at least 10 but less than 20 years of creditable | 12 | | service is
entitled to a retirement annuity upon or after | 13 | | attainment of age 60.
A member who has at least 5 but less than | 14 | | 10 years of creditable service is
entitled to a retirement | 15 | | annuity upon or after attainment of age 62.
A member who (i) | 16 | | has earned during the period immediately preceding the last
day | 17 | | of service at least one year of contributing creditable service | 18 | | as an
employee of a department as defined in Section 14-103.04, | 19 | | (ii) has earned at
least 5 years of contributing creditable | 20 | | service as an employee of a department
as defined in Section | 21 | | 14-103.04, and (iii) retires on or after January 1, 2001
is | 22 | | entitled to a retirement annuity upon or after attainment of an | 23 | | age which,
when added to the number of years of his or her |
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| 1 | | total creditable service,
equals at least 85. Portions of years | 2 | | shall be counted as decimal equivalents.
| 3 | | A member who is eligible to receive a retirement annuity of | 4 | | at least 74.6% of
final average salary and will attain age 55 | 5 | | on or before December 31 during the
year which commences on | 6 | | July 1 shall be deemed to attain age 55 on the
preceding June | 7 | | 1.
| 8 | | A member meeting the above eligibility conditions is | 9 | | entitled to a retirement
annuity upon written application to | 10 | | the board setting forth the date the member
wishes the | 11 | | retirement annuity to commence. However, the effective date of | 12 | | the
retirement annuity shall be no earlier than the day | 13 | | following the last day of
creditable service, regardless of the | 14 | | date of official termination of
employment.
| 15 | | To be eligible for a retirement annuity, a member shall not | 16 | | be employed
as a teacher in the schools included under this | 17 | | System or under Article 17,
except (i) as provided in Section | 18 | | 16-118 or 16-150.1, (ii) if
the member is disabled (in which | 19 | | event, eligibility for salary must cease),
or (iii) if the | 20 | | System is required by federal law to commence
payment due to | 21 | | the member's age; the changes to this sentence made by this
| 22 | | amendatory Act of the 93rd General Assembly apply without
| 23 | | regard to whether the member terminated employment before or | 24 | | after its
effective date.
| 25 | | (Source: P.A. 93-320, eff. 7-23-03.)
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| 1 | | (Text of Section after amendment by P.A. 98-599 )
| 2 | | Sec. 16-132. Retirement annuity eligibility. | 3 | | (a) A member who has at least 20 years of creditable | 4 | | service is entitled to a
retirement annuity upon or after | 5 | | attainment of age 55.
A member who has at least 10 but less | 6 | | than 20 years of creditable service is
entitled to a retirement | 7 | | annuity upon or after attainment of age 60.
A member who has at | 8 | | least 5 but less than 10 years of creditable service is
| 9 | | entitled to a retirement annuity upon or after attainment of | 10 | | age 62.
A member who (i) has earned during the period | 11 | | immediately preceding the last
day of service at least one year | 12 | | of contributing creditable service as an
employee of a | 13 | | department as defined in Section 14-103.04, (ii) has earned at
| 14 | | least 5 years of contributing creditable service as an employee | 15 | | of a department
as defined in Section 14-103.04, and (iii) | 16 | | retires on or after January 1, 2001
is entitled to a retirement | 17 | | annuity upon or after attainment of an age which,
when added to | 18 | | the number of years of his or her total creditable service,
| 19 | | equals at least 85. Portions of years shall be counted as | 20 | | decimal equivalents.
| 21 | | A member who is eligible to receive a retirement annuity of | 22 | | at least 74.6% of
final average salary and will attain age 55 | 23 | | on or before December 31 during the
year which commences on | 24 | | July 1 shall be deemed to attain age 55 on the
preceding June | 25 | | 1.
| 26 | | (b) Notwithstanding subsection (a) of this Section, for a |
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| 1 | | Tier 1 member who begins receiving a retirement annuity under | 2 | | this Section on or after July 1, 2014, the required retirement | 3 | | age under subsection (a) is increased as follows, based on the | 4 | | Tier 1 member's age on June 1, 2014: | 5 | | (1) If he or she is at least age 46 on June 1, 2014, | 6 | | then the required retirement ages under subsection (a) | 7 | | remain unchanged. | 8 | | (2) If he or she is at least age 45 but less than age 46 | 9 | | on June 1, 2014, then the required retirement ages under | 10 | | subsection (a) are increased by 4 months. | 11 | | (3) If he or she is at least age 44 but less than age 45 | 12 | | on June 1, 2014, then the required retirement ages under | 13 | | subsection (a) are increased by 8 months. | 14 | | (4) If he or she is at least age 43 but less than age 44 | 15 | | on June 1, 2014, then the required retirement ages under | 16 | | subsection (a) are increased by 12 months. | 17 | | (5) If he or she is at least age 42 but less than age 43 | 18 | | on June 1, 2014, then the required retirement ages under | 19 | | subsection (a) are increased by 16 months. | 20 | | (6) If he or she is at least age 41 but less than age 42 | 21 | | on June 1, 2014, then the required retirement ages under | 22 | | subsection (a) are increased by 20 months. | 23 | | (7) If he or she is at least age 40 but less than age 41 | 24 | | on June 1, 2014, then the required retirement ages under | 25 | | subsection (a) are increased by 24 months. | 26 | | (8) If he or she is at least age 39 but less than age 40 |
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| 1 | | on June 1, 2014, then the required retirement ages under | 2 | | subsection (a) are increased by 28 months. | 3 | | (9) If he or she is at least age 38 but less than age 39 | 4 | | on June 1, 2014, then the required retirement ages under | 5 | | subsection (a) are increased by 32 months. | 6 | | (10) If he or she is at least age 37 but less than age | 7 | | 38 on June 1, 2014, then the required retirement ages under | 8 | | subsection (a) are increased by 36 months. | 9 | | (11) If he or she is at least age 36 but less than age | 10 | | 37 on June 1, 2014, then the required retirement ages under | 11 | | subsection (a) are increased by 40 months. | 12 | | (12) If he or she is at least age 35 but less than age | 13 | | 36 on June 1, 2014, then the required retirement ages under | 14 | | subsection (a) are increased by 44 months. | 15 | | (13) If he or she is at least age 34 but less than age | 16 | | 35 on June 1, 2014, then the required retirement ages under | 17 | | subsection (a) are increased by 48 months. | 18 | | (14) If he or she is at least age 33 but less than age | 19 | | 34 on June 1, 2014, then the required retirement ages under | 20 | | subsection (a) are increased by 52 months. | 21 | | (15) If he or she is at least age 32 but less than age | 22 | | 33 on June 1, 2014, then the required retirement ages under | 23 | | subsection (a) are increased by 56 months. | 24 | | (16) If he or she is less than age 32 on June 1, 2014, | 25 | | then the required retirement ages under subsection (a) are | 26 | | increased by 60 months. |
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| 1 | | Notwithstanding Section 1-103.1, this subsection (b) | 2 | | applies without regard to whether or not the Tier 1 member is | 3 | | in active service under this Article on or after the effective | 4 | | date of this amendatory Act of the 98th General Assembly. | 5 | | (c) A member meeting the above eligibility conditions is | 6 | | entitled to a retirement
annuity upon written application to | 7 | | the board setting forth the date the member
wishes the | 8 | | retirement annuity to commence. However, the effective date of | 9 | | the
retirement annuity shall be (i) no earlier than the day | 10 | | following the last day of
creditable service, regardless of the | 11 | | date of official termination of
employment , and (ii) no more | 12 | | than 2 years before the date of receipt by the System of the | 13 | | application for retirement .
| 14 | | For the purpose of Section 1-103.1, the change to this | 15 | | subsection made by this amendatory Act of the 98th General | 16 | | Assembly applies to annuities granted on or after the effective | 17 | | date of this amendatory Act, without regard to whether the | 18 | | member is in service on or after that effective date. | 19 | | (d) To be eligible for a retirement annuity, a member shall | 20 | | not be employed
as a teacher in the schools included under this | 21 | | System or under Article 17,
except (i) as provided in Section | 22 | | 16-118 or 16-150.1, (ii) if
the member is disabled (in which | 23 | | event, eligibility for salary must cease),
or (iii) if the | 24 | | System is required by federal law to commence
payment due to | 25 | | the member's age; the changes to this sentence made by Public | 26 | | Act 93-320 apply without
regard to whether the member |
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| 1 | | terminated employment before or after its
effective date.
| 2 | | (Source: P.A. 98-599, eff. 6-1-14.)
| 3 | | Section 95. No acceleration or delay. Where this Act makes | 4 | | changes in a statute that is represented in this Act by text | 5 | | that is not yet or no longer in effect (for example, a Section | 6 | | represented by multiple versions), the use of that text does | 7 | | not accelerate or delay the taking effect of (i) the changes | 8 | | made by this Act or (ii) provisions derived from any other | 9 | | Public Act.
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