Illinois General Assembly - Illinois Compiled Statutes

Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.

40 ILCS 5/12-133.2

(40 ILCS 5/12-133.2) (from Ch. 108 1/2, par. 12-133.2)

Sec. 12-133.2. Increases to employee annuitants.

Employees who
retired on service retirement annuity prior to July 1, 1965 who were at
least 55 years of age at date of retirement and had at least 20 years of
credited service, who shall have attained age 65, and any employee retired
on or after such date who meets such qualifying conditions and who is not
eligible for an annual increase in basic retirement annuity otherwise
provided in this Article, shall be entitled to receive benefits under this
Section.

These benefits shall be in an amount equal to 1 1/2% of the service
retirement annuity multiplied by the number of full years that the annuitant
was in receipt of such annuity.  This payment shall begin in January of 1970,
and an additional 1 1/2% based upon the original grant of annuity shall be
added in January of each year thereafter.  Beginning January 1, 1972, the
annual rate of increase in annuity shall be 2% of the original grant of annuity
and shall also apply thereafter to any person who shall have had at least 15
years of credited service and less than 20 years on the same basis as was
applicable to persons retired with 20 or more years of service; provided that
beginning January 1, 1976, the annual rate of increase in retirement annuity
shall be 3% of the basic retirement annuity.

An employee annuitant who otherwise qualifies for the aforesaid
benefit shall make a one-time contribution of 1% of the final monthly average
salary multiplied by the number of completed years of service forming the
basis of his service retirement annuity, provided that if the annuity was
computed on any other basis, the contribution shall be 1% of the rate of
monthly salary in effect on the date of retirement multiplied by the number of
completed years of service forming the basis of his service retirement annuity.

(Source: P.A. 102-263, eff. 8-6-21.)