(40 ILCS 5/17-156.3) (from Ch. 108 1/2, par. 17-156.3)
Sec. 17-156.3.
Minimum retirement pension.
(a) Beginning January 1,
1987, any person who is receiving a monthly retirement pension under this
Article which, after inclusion of (1) all one-time and automatic annual
increases to which the person is entitled, (2) any supplementary payment
payable under Section 17-154, and (3) any amount deducted under Section
17-120 to provide a reversionary pension, is less than the minimum monthly
retirement benefit amount specified in subsection (b) of this Section,
shall be entitled to a monthly supplemental payment equal to the difference.
(b) Beginning January 1, 1996, for purposes of the calculation in
subsection (a), the minimum monthly retirement benefit amount is the sum of
$25 for each year of service, up to a maximum of $750 per month for 30 or more
years of creditable service.
(c) The changes made to this Section by this amendatory Act of 1995 apply to
all persons receiving a retirement pension under this Article, without regard
to whether or not employment terminated prior to the effective date of this
amendatory Act of 1995 and notwithstanding Section 17-157.
(Source: P.A. 89-21, eff. 6-6-95; 89-25, eff. 6-21-95.)
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