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

SB3954sam002 102ND GENERAL ASSEMBLY

Sen. Dave Syverson

Filed: 2/16/2022

 

 


 

 


 
10200SB3954sam002LRB102 23200 RPS 36521 a

1
AMENDMENT TO SENATE BILL 3954

2    AMENDMENT NO. ______. Amend Senate Bill 3954 by replacing
3everything after the enacting clause with the following:
 
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)

 

 

10200SB3954sam002- 2 -LRB102 23200 RPS 36521 a

1has earned during the period immediately preceding the last
2day of service at least one year of contributing creditable
3service as an employee of a department as defined in Section
414-103.04, (ii) has earned at least 5 years of contributing
5creditable service as an employee of a department as defined
6in Section 14-103.04, and (iii) retires on or after January 1,
72001 is entitled to a retirement annuity upon or after
8attainment of an age which, when added to the number of years
9of his or her total creditable service, equals at least 85.
10Portions of years shall be counted as decimal equivalents.
11    A member who is eligible to receive a retirement annuity
12of at least 74.6% of final average salary and will attain age
1355 on or before December 31 during the year which commences on
14July 1 shall be deemed to attain age 55 on the preceding June
151.
16    A member meeting the above eligibility conditions is
17entitled to a retirement annuity upon written application to
18the board setting forth the date the member wishes the
19retirement annuity to commence. However, the effective date of
20the retirement annuity shall be no earlier than the day
21following the last day of creditable service, regardless of
22the date of official termination of employment; except that
23the effective date of a retirement annuity may be after the
24date of official termination of employment as long as such
25employment is for (1) less than 10 days in length and (2) less
26than $2,000 in compensation.

 

 

10200SB3954sam002- 3 -LRB102 23200 RPS 36521 a

1    To be eligible for a retirement annuity, a member shall
2not be employed as a teacher in the schools included under this
3System or under Article 17, except (i) as provided in Section
416-118 or 16-150.1, (ii) if the member is disabled (in which
5event, eligibility for salary must cease), or (iii) if the
6System is required by federal law to commence payment due to
7the member's age; the changes to this sentence made by this
8amendatory Act of the 93rd General Assembly apply without
9regard to whether the member terminated employment before or
10after its effective date.
11(Source: P.A. 93-320, eff. 7-23-03.)
 
12    (40 ILCS 5/16-203)
13    Sec. 16-203. Application and expiration of new benefit
14increases.
15    (a) As used in this Section, "new benefit increase" means
16an increase in the amount of any benefit provided under this
17Article, or an expansion of the conditions of eligibility for
18any benefit under this Article, that results from an amendment
19to this Code that takes effect after June 1, 2005 (the
20effective date of Public Act 94-4). "New benefit increase",
21however, does not include any benefit increase resulting from
22the changes made to Article 1 or this Article by Public Act
2395-910, Public Act 100-23, Public Act 100-587, Public Act
24100-743, Public Act 100-769, Public Act 101-10, or Public Act
25101-49, Public Act 102-16, or this amendatory Act of the 102nd

 

 

10200SB3954sam002- 4 -LRB102 23200 RPS 36521 a

1General Assembly this amendatory Act of the 102nd General
2Assembly.
3    (b) Notwithstanding any other provision of this Code or
4any subsequent amendment to this Code, every new benefit
5increase is subject to this Section and shall be deemed to be
6granted only in conformance with and contingent upon
7compliance with the provisions of this Section.
8    (c) The Public Act enacting a new benefit increase must
9identify and provide for payment to the System of additional
10funding at least sufficient to fund the resulting annual
11increase in cost to the System as it accrues.
12    Every new benefit increase is contingent upon the General
13Assembly providing the additional funding required under this
14subsection. The Commission on Government Forecasting and
15Accountability shall analyze whether adequate additional
16funding has been provided for the new benefit increase and
17shall report its analysis to the Public Pension Division of
18the Department of Insurance. A new benefit increase created by
19a Public Act that does not include the additional funding
20required under this subsection is null and void. If the Public
21Pension Division determines that the additional funding
22provided for a new benefit increase under this subsection is
23or has become inadequate, it may so certify to the Governor and
24the State Comptroller and, in the absence of corrective action
25by the General Assembly, the new benefit increase shall expire
26at the end of the fiscal year in which the certification is

 

 

10200SB3954sam002- 5 -LRB102 23200 RPS 36521 a

1made.
2    (d) Every new benefit increase shall expire 5 years after
3its effective date or on such earlier date as may be specified
4in the language enacting the new benefit increase or provided
5under subsection (c). This does not prevent the General
6Assembly from extending or re-creating a new benefit increase
7by law.
8    (e) Except as otherwise provided in the language creating
9the new benefit increase, a new benefit increase that expires
10under this Section continues to apply to persons who applied
11and qualified for the affected benefit while the new benefit
12increase was in effect and to the affected beneficiaries and
13alternate payees of such persons, but does not apply to any
14other person, including, without limitation, a person who
15continues in service after the expiration date and did not
16apply and qualify for the affected benefit while the new
17benefit increase was in effect.
18(Source: P.A. 101-10, eff. 6-5-19; 101-49, eff. 7-12-19;
19101-81, eff. 7-12-19; 102-16, eff. 6-17-21; 102-558, eff.
208-20-21; revised 10-15-21.)
 
21    Section 99. Effective date. This Act takes effect upon
22becoming law.".