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91_SB0298
LRB9101885EGfg
1 AN ACT to amend the Illinois Pension Code by changing
2 Section 15-135.
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 15-135 as follows:
7 (40 ILCS 5/15-135) (from Ch. 108 1/2, par. 15-135)
8 Sec. 15-135. Retirement annuities - Conditions.
9 (a) A participant who retires in one of the following
10 specified years with the specified amount of service is
11 entitled to a retirement annuity at any age under the
12 retirement program applicable to the participant:
13 35 years if retirement is in 1997 or before;
14 34 years if retirement is in 1998;
15 33 years if retirement is in 1999;
16 32 years if retirement is in 2000;
17 31 years if retirement is in 2001;
18 30 years if retirement is in 2002;
19 30 35 years if retirement is in 2000 2003 or later.
20 A participant with 8 or more years of service after
21 September 1, 1941, is entitled to a retirement annuity on or
22 after attainment of age 55.
23 A participant with at least 5 but less than 8 years of
24 service after September 1, 1941, is entitled to a retirement
25 annuity on or after attainment of age 62.
26 A participant who has at least 25 years of service in
27 this system as a police officer or firefighter is entitled to
28 a retirement annuity on or after the attainment of age 50, if
29 Rule 4 of Section 15-136 is applicable to the participant.
30 (b) The annuity payment period shall begin on the date
31 specified by the participant submitting a written
-2- LRB9101885EGfg
1 application, which date shall not be prior to termination of
2 employment or more than one year before the application is
3 received by the board; however, if the participant is not an
4 employee of an employer participating in this System or in a
5 participating system as defined in Article 20 of this Code on
6 April 1 of the calendar year next following the calendar year
7 in which the participant attains age 70 1/2, the annuity
8 payment period shall begin on that date regardless of whether
9 an application has been filed.
10 (c) An annuity is not payable if the amount provided
11 under Section 15-136 is less than $10 per month.
12 (Source: P.A. 90-65, eff. 7-7-97; 90-766, eff. 8-14-98.)
13 Section 99. Effective date. This Act takes effect upon
14 becoming law.