Full Text of SB2492 94th General Assembly
SB2492eng 94TH GENERAL ASSEMBLY
|
|
|
SB2492 Engrossed |
|
LRB094 18828 AMC 54239 b |
|
| 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 |
| Sections 16-143 and 16-203 as follows:
| 6 |
| (40 ILCS 5/16-143) (from Ch. 108 1/2, par. 16-143)
| 7 |
| Sec. 16-143. Survivors' benefits - other conditions and | 8 |
| limitations. The benefits provided under Sections 16-141 and | 9 |
| 16-142, shall be
subject to the following further conditions | 10 |
| and limitations:
| 11 |
| (1) The period during which a member was in receipt of a | 12 |
| disability or
occupational disability benefit shall be | 13 |
| considered as creditable service
at the annual salary rate on | 14 |
| which the member last made contributions.
| 15 |
| (2) All service prior to July 24, 1959, for which | 16 |
| creditable service is
granted towards a retirement annuity | 17 |
| shall be considered as creditable service.
| 18 |
| (3) No benefits shall be payable unless a member, or a | 19 |
| disabled member,
returning to service, has made contributions | 20 |
| to the system for at least one
month after July 24, 1959, | 21 |
| except that an annuitant must have contributed to
the system | 22 |
| for at least 1 year of creditable service after July 24, 1959.
| 23 |
| (4) Creditable service under the State Employees' | 24 |
| Retirement System
of Illinois, the State Universities | 25 |
| Retirement System and the Public
School Teachers' Pension and | 26 |
| Retirement Fund of Chicago shall be
considered in determining | 27 |
| whether the member has met the creditable
service requirement.
| 28 |
| (5) If an eligible beneficiary qualifies for a survivors' | 29 |
| benefit
because of pension credits established by the | 30 |
| participant or
annuitant in another system covered by Article | 31 |
| 20, and the combined
survivors' benefits exceed the highest | 32 |
| survivors' benefit payable by
either system based upon the |
|
|
|
SB2492 Engrossed |
- 2 - |
LRB094 18828 AMC 54239 b |
|
| 1 |
| combined pension credits,
the survivors' benefit payable by | 2 |
| this system shall be reduced to that
amount which when added to | 3 |
| the survivors' benefit payable by the other
system would equal | 4 |
| this highest survivors' benefit. If the other system
has a | 5 |
| similar provision for adjustment of the survivors' benefit,
the | 6 |
| respective proportional survivors' benefits shall be reduced
| 7 |
| proportionately according to the ratio which the amount of each
| 8 |
| proportional survivors' benefit bears to the aggregate of all
| 9 |
| proportional survivors' benefits. If a survivors' benefit is | 10 |
| payable by
another system covered by Article 20, and the | 11 |
| survivor elects to waive
the monthly survivors' benefit and | 12 |
| accept a lump sum payment or death benefit
in lieu of the | 13 |
| monthly survivors' benefit, this system shall, for the purpose
| 14 |
| of adjusting the monthly survivors' benefit under this | 15 |
| paragraph, assume that
the survivor had been entitled to a | 16 |
| monthly survivors' benefit which, in
accordance with actuarial | 17 |
| tables of this system, is the actuarial equivalent
of the | 18 |
| amount of the lump sum payment or death benefit.
| 19 |
| (6) Remarriage of a surviving spouse prior to attainment of | 20 |
| age 55
that occurs before the effective date of this amendatory | 21 |
| Act of the 91st
General Assembly shall terminate his or her | 22 |
| survivors' benefits.
| 23 |
| The change made to this item (6) by this amendatory Act of | 24 |
| the 91st
General Assembly applies without regard to whether the | 25 |
| deceased member or
annuitant was in service on or after the | 26 |
| effective date of this amendatory
Act of the 91st General | 27 |
| Assembly.
| 28 |
| (7) The benefits payable to an eligible child shall | 29 |
| terminate when the
eligible child marries, dies, or attains age | 30 |
| 18 (age 23
22 if a full-time
student); except that benefits | 31 |
| payable to a dependent disabled eligible child
shall terminate | 32 |
| only when the eligible child dies or ceases to be disabled.
| 33 |
| (Source: P.A. 90-448, eff. 8-16-97; 91-887, eff. 7-6-00.)
| 34 |
| (40 ILCS 5/16-203)
| 35 |
| Sec. 16-203. Application and expiration of new benefit |
|
|
|
SB2492 Engrossed |
- 3 - |
LRB094 18828 AMC 54239 b |
|
| 1 |
| increases. | 2 |
| (a) As used in this Section, "new benefit increase" means | 3 |
| an increase in the amount of any benefit provided under this | 4 |
| Article, or an expansion of the conditions of eligibility for | 5 |
| any benefit under this Article, that results from an amendment | 6 |
| to this Code that takes effect after June 1, 2005 ( the | 7 |
| effective date of Public Act 94-4)
this amendatory Act of the | 8 |
| 94th General Assembly . "New benefit increase", however, does | 9 |
| not include any benefit increase resulting from the changes | 10 |
| made to this Article by this amendatory Act of the 94th General | 11 |
| Assembly.
| 12 |
| (b) Notwithstanding any other provision of this Code or any | 13 |
| subsequent amendment to this Code, every new benefit increase | 14 |
| is subject to this Section and shall be deemed to be granted | 15 |
| only in conformance with and contingent upon compliance with | 16 |
| the provisions of this Section.
| 17 |
| (c) The Public Act enacting a new benefit increase must | 18 |
| identify and provide for payment to the System of additional | 19 |
| funding at least sufficient to fund the resulting annual | 20 |
| increase in cost to the System as it accrues. | 21 |
| Every new benefit increase is contingent upon the General | 22 |
| Assembly providing the additional funding required under this | 23 |
| subsection. The Commission on Government Forecasting and | 24 |
| Accountability shall analyze whether adequate additional | 25 |
| funding has been provided for the new benefit increase and | 26 |
| shall report its analysis to the Public Pension Division of the | 27 |
| Department of Financial and Professional Regulation. A new | 28 |
| benefit increase created by a Public Act that does not include | 29 |
| the additional funding required under this subsection is null | 30 |
| and void. If the Public Pension Division determines that the | 31 |
| additional funding provided for a new benefit increase under | 32 |
| this subsection is or has become inadequate, it may so certify | 33 |
| to the Governor and the State Comptroller and, in the absence | 34 |
| of corrective action by the General Assembly, the new benefit | 35 |
| increase shall expire at the end of the fiscal year in which | 36 |
| the certification is made.
|
|
|
|
SB2492 Engrossed |
- 4 - |
LRB094 18828 AMC 54239 b |
|
| 1 |
| (d) Every new benefit increase shall expire 5 years after | 2 |
| its effective date or on such earlier date as may be specified | 3 |
| in the language enacting the new benefit increase or provided | 4 |
| under subsection (c). This does not prevent the General | 5 |
| Assembly from extending or re-creating a new benefit increase | 6 |
| by law. | 7 |
| (e) Except as otherwise provided in the language creating | 8 |
| the new benefit increase, a new benefit increase that expires | 9 |
| under this Section continues to apply to persons who applied | 10 |
| and qualified for the affected benefit while the new benefit | 11 |
| increase was in effect and to the affected beneficiaries and | 12 |
| alternate payees of such persons, but does not apply to any | 13 |
| other person, including without limitation a person who | 14 |
| continues in service after the expiration date and did not | 15 |
| apply and qualify for the affected benefit while the new | 16 |
| benefit increase was in effect.
| 17 |
| (Source: P.A. 94-4, eff. 6-1-05.)
| 18 |
| Section 99. Effective date. This Act takes effect upon | 19 |
| becoming law.
|
|