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90_HB0942
40 ILCS 5/7-156 from Ch. 108 1/2, par. 7-156
30 ILCS 805/8.21 new
Amends the Illinois Municipal Retirement Fund (IMRF)
Article of the Pension Code to compound the 3% annual
increase in survivor pensions for survivors of sheriffs' law
enforcement employees. Amends the State Mandates Act to
require implementation without reimbursement. Effective
immediately.
LRB9004016EGfg
LRB9004016EGfg
1 AN ACT to amend the Illinois Pension Code by changing
2 Section 7-156 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 7-156 as follows:
7 (40 ILCS 5/7-156) (from Ch. 108 1/2, par. 7-156)
8 Sec. 7-156. Surviving spouse annuities - amount.
9 (a) The amount of surviving spouse annuity shall be:
10 1. Upon the death of an employee annuitant or such
11 person entitled, upon application, to a retirement annuity at
12 date of death, (i) an amount equal to 1/2 of the retirement
13 annuity which was or would have been payable exclusive of the
14 amount so payable which was provided from additional credits,
15 and disregarding any election made under paragraph (b) of
16 Section 7-142, plus (ii) an annuity which could be provided
17 at the then attained age of the surviving spouse and under
18 actuarial tables then in effect, from the excess of the
19 additional credits, (excluding any such credits used to
20 create a reversionary annuity) used to provide the annuity
21 granted pursuant to paragraph (a) (2) of Section 7-142 of
22 this article over the total annuity payments made pursuant
23 thereto.
24 2. Upon the death of a participating employee on or
25 after attainment of age 55, an amount equal to 1/2 of the
26 retirement annuity which he could have had as of the date of
27 death had he then retired and applied for annuity, exclusive
28 of the portion thereof which could have been provided from
29 additional credits, and disregarding paragraph (b) of Section
30 7-142, plus an amount equal to the annuity which could be
31 provided from the total of his accumulated additional credits
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1 at date of death, on the basis of the attained age of the
2 surviving spouse on such date.
3 3. Upon the death of a participating employee before age
4 55, an amount equal to 1/2 of the retirement annuity which he
5 could have had as of his attained age on the date of death,
6 had he then retired and applied for annuity, and the
7 provisions of this Article that no such annuity shall begin
8 until the employee has attained at least age 55 were not
9 applicable, exclusive of the portion thereof which could have
10 been provided from additional credits and disregarding
11 paragraph (b) of Section 7-142, plus an amount equal to the
12 annuity which could be provided from the total of his
13 accumulated additional credits at date of death, on the basis
14 of the attained age of the surviving spouse on such date.
15 If a surviving spouse is more than 5 years younger than
16 the deceased, that portion of the annuity which is not based
17 on additional credits shall be reduced in the ratio of the
18 value of a life annuity of $1 per year at an age of 5 years
19 less than the attained age of the deceased, at the earlier of
20 the date of the death or the date his retirement annuity
21 begins, to the value of a life annuity of $1 per year at the
22 attained age of the surviving spouse on such date, according
23 to actuarial tables approved by the Board.
24 In computing the amount of a surviving spouse annuity,
25 incremental increases of retirement annuities to the date of
26 death of the employee annuitant shall be considered.
27 (b) Each surviving spouse annuity payable on January 1,
28 1988 shall be increased on that date by 3% of the original
29 amount of the annuity. Each surviving spouse annuity that
30 begins after January 1, 1988 shall be increased on the
31 January 1 next occurring after the annuity begins, by an
32 amount equal to (i) 3% of the original amount thereof if the
33 deceased employee was receiving a retirement annuity at the
34 time of his death; otherwise (ii) 0.167% of the original
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1 amount thereof for each complete month which has elapsed
2 since the date the annuity began.
3 On each January 1 after the date of the initial increase
4 under this subsection, each surviving spouse annuity shall be
5 increased by 3% of the originally granted amount of the
6 annuity.
7 Beginning January 1, 1998, for all surviving spouses of
8 sheriff's law enforcement employees, the increases under this
9 subsection (b), other than the initial increase, shall be
10 equal to 3% of the current amount of the annuity, including
11 any previous increases under this Article, without regard to
12 whether the deceased sheriff's law enforcement employee
13 terminated service before the effective date of this
14 amendatory Act of 1997.
15 (Source: P.A. 85-941.)
16 Section 90. The State Mandates Act is amended by adding
17 Section 8.21 as follows:
18 (30 ILCS 805/8.21 new)
19 Sec. 8.21. Exempt mandate. Notwithstanding Sections 6
20 and 8 of this Act, no reimbursement by the State is required
21 for the implementation of any mandate created by this
22 amendatory Act of 1997.
23 Section 99. Effective date. This Act takes effect upon
24 becoming law.