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90_HB0227
40 ILCS 5/6-128 from Ch. 108 1/2, par. 6-128
30 ILCS 805/8.21 new
Amends the Chicago Firefighter Article of the Pension
Code to base the regular retirement annuity on the average
salary for the highest 3 (rather than 4) years within the
last 10 years of service. Also makes technical changes.
Amends the State Mandates Act to require implementation
without reimbursement. Effective immediately.
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1 AN ACT to amend the Illinois Pension Code by changing
2 Section 6-128 and to amend the State Mandates Act.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Pension Code is amended by
6 changing Section 6-128 as follows:
7 (40 ILCS 5/6-128) (from Ch. 108 1/2, par. 6-128)
8 Sec. 6-128. Minimum annuity for future entrants.
9 (a) A future entrant who withdraws on or after July 21,
10 1959, after completing at least 23 years of service, and for
11 whom the annuity otherwise provided in this Article is less
12 than that stated in this Section, has a right to receive
13 annuity as follows:
14 If he is age 53 or more on withdrawal, his annuity after
15 withdrawal, shall be equal to 50% of his average salary
16 determined by striking an average of 4 consecutive highest
17 years of salary within the last 10 years of service
18 immediately preceding the date of withdrawal.
19 An employee who reaches compulsory retirement age and who
20 has less than 23 years of service shall be entitled to a
21 minimum annuity equal to an amount determined by the product
22 of (1) his years of service and (2) 2% of his average salary
23 for the 4 consecutive highest years of salary within the last
24 10 years of service immediately prior to his reaching
25 compulsory retirement age.
26 An employee who remains in service after qualifying for
27 annuity under this Section shall have added to this annuity
28 an additional 1% of average salary for each completed year of
29 service or fraction thereof rendered until July 21, 1959, and
30 an additional 1% for a total of 2% of average salary for each
31 completed year of service or fraction thereof rendered after
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1 from July 21, 1959. Each future entrant who has completed 23
2 years of service before reaching age 53 shall have added to
3 this annuity 1% of average salary for each completed year of
4 service or fraction thereof in excess of 23 years up to age
5 53.
6 (b) For the purposes of this Section, "average salary"
7 means: as referred to in this paragraph shall be determined
8 by striking an
9 (1) for a fireman who withdraws from service before
10 January 1, 1998, the average of the 4 consecutive highest
11 years of salary within the last 10 years of service
12 immediately preceding withdrawal;
13 (2) for a fireman who withdraws from service on or
14 after January 1, 1998, the average of the highest 36
15 consecutive months of salary within the last 10 years of
16 service.
17 (c) (b) In lieu of the annuity provided in subsection
18 (a), the foregoing provisions of this Section any future
19 entrant who withdraws from the service either (i) after
20 December 31, 1983 with at least 22 years of service credit
21 and having attained age 52 in the service, or (ii) after
22 December 31, 1984 with at least 21 years of service credit
23 and having attained age 51 in the service, or (iii) after
24 December 31, 1985 with at least 20 years of service credit
25 and having attained age 50 in the service, or (iv) after
26 December 31, 1990 with at least 20 years of service,
27 regardless of age, may elect to receive an annuity, to begin
28 not earlier than upon attainment of age 50 if under that age
29 at withdrawal, computed as follows: an annuity equal to 50%
30 of the average salary for the first 20 the 4 highest
31 consecutive years of the last 10 years of service, plus
32 additional annuity equal to 2% of such average salary for
33 each completed year of service or fraction thereof over 20
34 rendered after his completion of the minimum number of years
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1 of service required for him to be eligible under this
2 subsection (b). However, the annuity provided under this
3 subsection (c) (b) may not exceed 75% of such average salary.
4 (Source: P.A. 86-1488.)
5 Section 90. The State Mandates Act is amended by adding
6 Section 8.21 as follows:
7 (30 ILCS 805/8.21 new)
8 Sec. 8.21. Notwithstanding Sections 6 and 8 of this Act,
9 no reimbursement by the State is required for the
10 implementation of any mandate created by this amendatory Act
11 of 1997.
12 Section 99. Effective date. This Act takes effect upon
13 becoming law.