Illinois General Assembly - Illinois Compiled Statutes

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40 ILCS 5/3-111

(40 ILCS 5/3-111) (from Ch. 108 1/2, par. 3-111)

Sec. 3-111. Pension.

(a) A police officer age 50 or more with 20 or
more years of creditable service, who is not a participant in the
self-managed plan under Section 3-109.3 and who is no longer in service
as a police officer, shall receive a pension of 1/2 of the salary
attached to the rank held by the officer on the police force for one year
immediately prior to retirement or, beginning July 1, 1987 for persons
terminating service on or after that date, the salary attached to the rank
held on the last day of service or for one year prior to the last day,
whichever is greater.  The pension shall be increased by 2.5%
of such salary for each additional year of service over 20 years of service
through 30 years of service, to a maximum of 75% of such
salary.

The changes made to this subsection (a) by this amendatory Act of the
91st General Assembly apply to all pensions that become payable under this
subsection on or after January 1, 1999.  All pensions payable under this
subsection that began on or after January 1, 1999 and before the effective date
of this amendatory Act shall be recalculated, and the amount of the increase
accruing for that period shall be payable to the pensioner in a lump sum.

(a-5) No pension in effect on or granted after June 30, 1973 shall be
less than $200 per month.  Beginning July 1, 1987, the minimum retirement
pension for a police officer having at least 20 years of creditable service
shall be $400 per month, without regard to whether or not retirement occurred
prior to that date.
If the minimum pension established in Section 3-113.1 is greater than the
minimum provided in this subsection, the Section 3-113.1 minimum controls.

(b) A police officer mandatorily retired from service
due to age by operation of law, having at least 8 but
less than 20 years of creditable service, shall receive a pension
equal to 2 1/2% of the salary attached to the rank he or she held on
the police force for one year immediately prior to retirement or,
beginning July 1, 1987 for persons terminating service on or after that
date, the salary attached to the rank held on the last day of service or
for one year prior to the last day, whichever is greater, for each
year of creditable service.

A police officer who retires or is separated from service having at least 8
years but less than 20 years of creditable service, who is not mandatorily
retired due to age by operation of law, and who does not apply for a refund of
contributions at his or her last separation from police service, shall receive
a pension upon attaining age 60 equal to 2.5% of the salary attached to the
rank held by the police officer on the police force for one year immediately
prior to retirement or, beginning July 1, 1987 for persons terminating service
on or after that date, the salary attached to the rank held on the last day of
service or for one year prior to the last day, whichever is greater, for each
year of creditable service.

(c) A police officer no longer in service who has at least one but less
than 8 years of creditable service in a police pension fund but meets the
requirements of this subsection (c) shall be eligible to receive a pension from
that fund equal to 2.5% of the salary attached to the rank held on the last day
of service under that fund or for one year prior to that last day, whichever is
greater, for each year of creditable service in that fund.  The pension shall
begin no earlier than upon attainment of age 60 (or upon mandatory retirement
from the fund by operation of law due to age, if that occurs before age 60) and
in no event before the effective date of this amendatory Act of 1997.

In order to be eligible for a pension under this subsection (c), the police
officer must have at least 8 years of creditable service in a second police
pension fund under this Article and be receiving a pension under subsection (a)
or (b) of this Section from that second fund.  The police officer need not be
in service on or after the effective date of this amendatory Act of 1997.

(d) Notwithstanding any other provision of this Article,
the provisions of this subsection (d) apply to a person who is not a participant in the self-managed plan under Section 3-109.3 and who first
becomes a police officer under this Article on or after January 1, 2011.

A police officer age 55 or more who has 10 or more years of service in that capacity shall be entitled at his option to receive a monthly pension for his service as a police officer computed by multiplying 2.5% for each year of such service by his or her final average salary.

The pension of a police officer who is retiring after attaining age 50 with 10 or more years of creditable service shall be reduced by one-half of 1% for each month that the police officer's age is under age 55.

The maximum pension under this subsection (d) shall be 75%
of final average salary.

For the purposes of this subsection (d), "final average salary" means the greater of: (i) the average monthly salary obtained by dividing the total salary of the police officer during the 48 consecutive months of service within the last 60 months of service in which the total salary was the highest by the number of months of service in that period; or (ii) the average monthly salary obtained by dividing the total salary of the police officer during the 96 consecutive months of service within the last 120 months of service in which the total salary was the highest by the number of months of service in that period.

Beginning on January 1, 2011, for all purposes under
this Code (including without limitation the calculation of
benefits and employee contributions), the annual salary
based on the plan year of a member or participant to whom this Section applies shall not exceed $106,800; however, that amount shall annually thereafter be increased by the lesser of (i) 3% of that amount, including all previous adjustments, or (ii) the annual unadjusted percentage increase (but not less than zero) in the consumer price index-u for the 12 months ending with the September preceding each November 1, including all previous adjustments.

Nothing in this amendatory Act of the 101st General Assembly shall cause or otherwise result in any retroactive adjustment of any employee contributions.

(Source: P.A. 101-610, eff. 1-1-20.)