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90_SB1821
40 ILCS 5/5-136.2 new
30 ILCS 805/8.22 new
Amends the Chicago Police Article of the Illinois Pension
Code. Provides a compounded 3% annual increase in surviving
spouse annuities. Amends the State Mandates Act to require
implementation without reimbursement. Effective immediately.
LRB9009024EGfg
LRB9009024EGfg
1 AN ACT to amend the Illinois Pension Code by adding
2 Section 5-136.2 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 adding Section 5-136.2 as follows:
7 (40 ILCS 5/5-136.2 new)
8 Sec. 5-136.2. Annual increase in widow's annuity.
9 (a) Except as provided in subsection (c), each widow's
10 annuity payable under this Article shall be increased by 3%
11 of the original fixed amount of the annuity on the later of
12 (1) January 1, 1999, or (2) the January 1 occurring on or
13 next following the first anniversary of the granting of the
14 annuity. On each January 1 following the initial increase
15 under this subsection, each widow's annuity payable under
16 this Article shall be increased by an amount equal to 3% of
17 the current amount of the annuity, including any previous
18 increases under this Section.
19 (b) The limitations on the maximum amount of widow's
20 annuity imposed under Section 5-148 and the provisions of
21 this Article on fixation of the amount of widow's annuity do
22 not apply to the annual increases provided under this
23 Section. The increases provided under this Section apply
24 without regard to whether or not the deceased employee was in
25 service on or after the effective date of this amendatory Act
26 of 1998.
27 (c) The increases provided in this Section do apply to a
28 compensation or supplemental annuity under Section 5-144.
29 The increases provided in this Section do not apply to a
30 reversionary or term annuity.
-2- LRB9009024EGfg
1 Section 90. The State Mandates Act is amended by adding
2 Section 8.22 as follows:
3 (30 ILCS 805/8.22 new)
4 Sec. 8.22. Exempt mandate. Notwithstanding Sections 6
5 and 8 of this Act, no reimbursement by the State is required
6 for the implementation of any mandate created by this
7 amendatory Act of 1998.
8 Section 99. Effective date. This Act takes effect upon
9 becoming law.