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91_SB0295
LRB9101895EGfg
1 AN ACT to amend the Illinois Pension Code by changing
2 Sections 15-136.3 and 15-146.
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 Sections 15-136.3 and 15-146 as follows:
7 (40 ILCS 5/15-136.3)
8 Sec. 15-136.3. Minimum retirement annuity.
9 (a) Beginning January 1, 1997, any person who is
10 receiving a monthly retirement annuity under this Article
11 which, after inclusion of (1) all one-time and automatic
12 annual increases to which the person is entitled, (2) any
13 supplemental annuity payable under Section 15-136.1, and (3)
14 any amount deducted under Section 15-138 or 15-140 to provide
15 a reversionary annuity, is less than the minimum monthly
16 retirement benefit amount specified in subsection (b) of this
17 Section, shall be entitled to a monthly supplemental payment
18 equal to the difference.
19 (b) For purposes of the calculation in subsection (a),
20 the minimum monthly retirement benefit amount is the sum of
21 $25 for each year of service credit, up to a maximum of 30
22 years of service. This $25 shall be increased by 3% on
23 January 1, 2000 and by 3% of the current amount on each
24 January 1 thereafter.
25 (c) The change to this Section made by this amendatory
26 Act of the 91st General Assembly applies to all persons
27 receiving a retirement annuity under this Article, without
28 regard to whether or not employment terminated prior to the
29 effective date of this amendatory Act Section.
30 (Source: P.A. 89-616, eff. 8-9-96.)
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1 (40 ILCS 5/15-146) (from Ch. 108 1/2, par. 15-146)
2 Sec. 15-146. Survivors insurance benefits - Minimum
3 amounts.
4 (a) The minimum total survivors annuity payable on
5 account of the death of a participant shall be 50% of the
6 retirement annuity which would have been provided under Rule
7 1, Rule 2, or Rule 3 of Section 15-136 upon the participant's
8 attainment of the minimum age at which the penalty for early
9 retirement would not be applicable or the date of the
10 participant's death, whichever is later, on the basis of
11 credits earned prior to the time of death.
12 (b) The minimum total survivors annuity payable on
13 account of the death of an annuitant shall be 50% of the
14 retirement annuity which is payable under Section 15-136 at
15 the time of death or 50% of the disability retirement annuity
16 payable under Section 15-153.2. This minimum survivors
17 annuity shall apply to each participant and annuitant who
18 dies after September 16, 1979, whether or not his or her
19 employee status terminates before or after that date.
20 (c) If an annuitant has elected a reversionary annuity,
21 the retirement annuity referred to in this Section is that
22 which would have been payable had such election not been
23 filed.
24 (d) Beginning January 1, 2000, any person who is
25 receiving a survivors annuity under this Article which, after
26 inclusion of all one-time and automatic annual increases to
27 which the person is entitled, is less than the sum of $25 for
28 each year (up to a maximum of 30 years) of the deceased
29 member's service credit, shall be entitled to a monthly
30 supplemental payment equal to the difference. This $25 shall
31 be increased by 3% on January 1, 2001 and by 3% of the
32 current amount on each January 1 thereafter.
33 If 2 or more persons are receiving survivors annuities
34 based on the same deceased member, the calculation of the
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1 supplemental payment under this subsection shall be based on
2 the total of those annuities and divided pro rata. The
3 supplemental payment is not subject to any limitation on the
4 maximum amount of the annuity and shall not be included in
5 the calculation of any automatic annual increase under
6 Section 15-145.
7 (Source: P.A. 90-448, eff. 8-16-97; 90-766, eff. 8-14-98.)
8 Section 99. Effective date. This Act takes effect upon
9 becoming law.