State of Illinois
90th General Assembly

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[ House Amendment 001 ][ House Amendment 002 ]


      40 ILCS 5/12-133.1        from Ch. 108 1/2, par. 12-133.1
      30 ILCS 805/8.22 new
          Amends the Chicago Park District Article of the  Illinois
      Pension Code.  For persons with at least 30 years of service,
      removes  the  requirement  that the person must attain age 60
      before beginning to receive the automatic annual increase  in
      retirement annuity.  Amends the State Mandates Act to require
      implementation without reimbursement.  Effective immediately.
 1        AN  ACT  to  amend  the Illinois Pension Code by changing
 2    Section 12-133.1 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 12-133.1 as follows:
 7        (40 ILCS 5/12-133.1) (from Ch. 108 1/2, par. 12-133.1)
 8        Sec.  12-133.1.  Annual  increase  in  basic   retirement
 9    annuity.
10        (a)  Any  employee  upon  withdrawal  from  service on or
11    after July 1, 1965, and retiring  on  a  retirement  annuity,
12    shall  be  entitled  to  an  annual  increase  in  his  basic
13    retirement  annuity  as defined herein while he is in receipt
14    of such annuity.
15        (a) The term "basic retirement annuity"  shall  mean  the
16    retirement annuity of the amount fixed and payable at date of
17    retirement of the employee.
18        (b)  The  annual  increase  in annuity shall be 1 1/2% of
19    the basic retirement annuity.  The increase shall first occur
20    in the month of January or the month of July, whichever first
21    occurs  next  following  or  coincidental  with   the   first
22    anniversary  of  retirement.   Effective January 1, 1972, the
23    annual rate of increase in annuity thereafter shall be 2%  of
24    the  basic  retirement annuity, provided that beginning as of
25    January 1, 1976, the annual rate of increase shall be  3%  of
26    the basic retirement annuity.
27        (c)  For  an employee who retires with less than 30 years
28    of service, the An increase in the basic  retirement  annuity
29    shall  begin  in  any  case  not earlier than in the month of
30    January  or  the  month  of  July,  whichever  occurs  first,
31    following or coincidental with the employee's  attainment  of
                            -2-                LRB9008331EGfg
 1    age 60.
 2        For  an  employee  who  retires with at least 30 years of
 3    service, the annual increase under this Section  shall  begin
 4    in the month of January or the month of July, whichever first
 5    occurs  next  following or coincidental with the later of (1)
 6    the first anniversary of retirement  or  (2)  July  1,  1998,
 7    without regard to the attainment of age 60 and without regard
 8    to whether or not the employee was in service on or after the
 9    effective date of this amendatory Act of 1998.
10        (d)  The  increase  in the basic retirement annuity shall
11    not be applicable unless the employee otherwise qualified has
12    made contributions to the fund  as  provided  herein  for  an
13    equivalent  period  of  one full year.  If such contributions
14    were not made, the employee may make the required payment  to
15    the  fund at the time of retirement, in a single sum, without
16    interest.
17        (e)  The additional contributions by an employee  towards
18    the  annual increase in basic retirement annuity shall not be
19    refundable, except to an employee who withdraws  and  applies
20    for  a  refund  under this Article, or dies while in service,
21    and also in cases where a temporary annuity becomes  payable.
22    In  such  cases  his  contributions shall be refunded without
23    interest.
24    (Source: P.A. 86-272.)
25        Section 10.  The State Mandates Act is amended by  adding
26    Section 8.22 as follows:
27        (30 ILCS 805/8.22 new)
28        Sec.  8.22.  Exempt  mandate.  Notwithstanding Sections 6
29    and 8 of this Act, no reimbursement by the State is  required
30    for  the  implementation  of  any  mandate  created  by  this
31    amendatory Act of 1998.
                            -3-                LRB9008331EGfg
 1        Section  99.  Effective date.  This Act takes effect upon
 2    becoming law.

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