Full Text of SB0945 99th General Assembly
SB0945 99TH GENERAL ASSEMBLY |
| | 99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016 SB0945 Introduced 2/11/2015, by Sen. Christine Radogno SYNOPSIS AS INTRODUCED: |
| 40 ILCS 5/4-109 | from Ch. 108 1/2, par. 4-109 |
| Amends the Downstate Firefighter Article of the Illinois Pension Code. Makes a technical change in a Section concerning retirement pensions.
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| | | 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 4-109 as follows:
| 6 | | (40 ILCS 5/4-109) (from Ch. 108 1/2, par. 4-109)
| 7 | | Sec. 4-109. Pension.
| 8 | | (a) A firefighter age 50 or more with 20 or more years of | 9 | | creditable
service, who is no longer in service as a | 10 | | firefighter, shall receive a monthly
pension of 1/2 the
the | 11 | | monthly salary attached to the rank held by him or her in
the | 12 | | fire service at the date of retirement. | 13 | | The monthly pension shall be increased by 1/12 of 2.5% of | 14 | | such
monthly salary for each additional month over 20 years of | 15 | | service through 30
years of service, to a maximum of 75% of | 16 | | such monthly salary.
| 17 | | The changes made to this subsection (a) by this amendatory | 18 | | Act of the
91st General Assembly apply to all pensions that | 19 | | become payable under this
subsection on or after January 1, | 20 | | 1999. All pensions payable under this
subsection that began on | 21 | | or after January 1, 1999 and before the effective date
of this | 22 | | amendatory Act shall be recalculated, and the amount of the | 23 | | increase
accruing for that period shall be payable to the |
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| 1 | | pensioner in a lump sum.
| 2 | | (b) A firefighter who retires or is separated from service | 3 | | having at
least 10 but less than 20 years of creditable | 4 | | service, who is not entitled
to receive a disability pension, | 5 | | and who did not apply for a refund of
contributions at his or | 6 | | her last separation from service shall receive a
monthly | 7 | | pension upon attainment of age 60 based on the monthly salary | 8 | | attached
to his or her rank in the fire service on the date of | 9 | | retirement or separation
from service according to the | 10 | | following schedule:
| 11 | | For 10 years of service, 15% of salary;
| 12 | | For 11 years of service, 17.6% of salary;
| 13 | | For 12 years of service, 20.4% of salary;
| 14 | | For 13 years of service, 23.4% of salary;
| 15 | | For 14 years of service, 26.6% of salary;
| 16 | | For 15 years of service, 30% of salary;
| 17 | | For 16 years of service, 33.6% of salary;
| 18 | | For 17 years of service, 37.4% of salary;
| 19 | | For 18 years of service, 41.4% of salary;
| 20 | | For 19 years of service, 45.6% of salary.
| 21 | | (c) Notwithstanding any other provision of this Article,
| 22 | | the provisions of this subsection (c) apply to a person who | 23 | | first
becomes a firefighter under this Article on or after | 24 | | January 1, 2011. | 25 | | A firefighter age 55 or more who has 10 or more years of | 26 | | service in that capacity shall be entitled at his option to |
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| 1 | | receive a monthly pension for his service as a firefighter | 2 | | computed by multiplying 2.5% for each year of such service by | 3 | | his or her final average salary. | 4 | | The pension of a firefighter who is retiring after | 5 | | attaining age 50 with 10 or more years of creditable service | 6 | | shall be reduced by one-half of 1% for each month that the | 7 | | firefighter's age is under age 55. | 8 | | The maximum pension under this subsection (c) shall be 75%
| 9 | | of final average salary. | 10 | | For the purposes of this subsection (c), "final average | 11 | | salary" means the average monthly salary obtained by dividing | 12 | | the total salary of the firefighter during the 96 consecutive | 13 | | months of service within the last 120 months of service in | 14 | | which the total salary was the highest by the number of months | 15 | | of service in that period. | 16 | | Beginning on January 1, 2011, for all purposes under
this | 17 | | Code (including without limitation the calculation of
benefits | 18 | | and employee contributions), the annual salary
based on the | 19 | | plan year of a member or participant to whom this Section | 20 | | applies shall not exceed $106,800; however, that amount shall | 21 | | annually thereafter be increased by the lesser of (i) 3% of | 22 | | that amount, including all previous adjustments, or (ii) | 23 | | one-half the annual unadjusted percentage increase (but not | 24 | | less than zero) in the consumer price index-u for the 12 months | 25 | | ending with the September preceding each November 1, including | 26 | | all previous adjustments. |
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| 1 | | (Source: P.A. 96-1495, eff. 1-1-11.)
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