HB2067 95TH GENERAL ASSEMBLY

LRB095 01520 AMC 21522 b

95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB2067

Introduced 2/26/2007, by Rep. Michael J. Madigan - Barbara Flynn Currie - Richard T. Bradley

SYNOPSIS AS INTRODUCED:

40 ILCS 5/14-126

from Ch. 108 1/2, par. 14-126

Amends the State Employee Article of the Illinois Pension Code. Makes a technical change in a Section concerning a retirement annuity following nonoccupational disability benefits.

PENSION IMPACT NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning public employee benefits.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Pension Code is amended by changing Section 14-126 as follows:

(40 ILCS 5/14-126) (from Ch. 108 1/2, par. 14-126)

Sec. 14-126. Nonoccupational disability benefit-Rights on expiration-Retirement annuity option on re-entry. Any member having 15 or more years of creditable service, and and having attained at least age 55, or having 20 or more years of creditable service and having attained at least age 50, who, after receiving nonoccupational disability benefit for the maximum period of time specified herein is still disabled for service, shall be entitled to receive a retirement annuity beginning the first of the month following application, without regard to whether the member has attained age 60.

If a member having 15 but less than 20 years of creditable service is under age 55 when nonoccupational disability benefits terminate, and the member has been continuously disabled for service, the member is entitled upon application to the retirement annuity upon the first of the month after attainment of age 55.

If a member having 20 or more years of creditable service is under age 50 when nonoccupational disability benefits terminate, and the member has been continuously disabled for service, the member is entitled upon application to the retirement annuity beginning upon the first of the month after attainment of age 50.

As an option to the computation of a retirement annuity in the manner provided in this Article, if a person who retires on a retirement annuity prior to age 60 under the provisions of this Section re-enters State employment, that person may refund to the system the amount theretofore received as a retirement annuity and upon subsequently retiring from State service shall be entitled to a retirement annuity computed as though that member had not previously received such annuity.

(Source: P.A. 80-841.)