State of Illinois
92nd General Assembly
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92_HB0192

 
                                               LRB9200762LDpr

 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  and  before  the
18        effective date of this amendatory Act of the 92nd General
19        Assembly;
20             30  years  if  retirement is in 2001 and on or after
21        the effective date of this amendatory  Act  of  the  92nd
22        General Assembly 2002;
23             30 35 years if retirement is in 2002 2003 or later.
24        A  participant  with  8  or  more  years of service after
25    September 1, 1941, is entitled to a retirement annuity on  or
26    after attainment of age 55.
27        A  participant  with  at least 5 but less than 8 years of
28    service after September 1, 1941, is entitled to a  retirement
29    annuity on or after attainment of age 62.
30        A  participant  who  has  at least 25 years of service in
31    this system as a police officer or firefighter is entitled to

 
                            -2-                LRB9200762LDpr
 1    a retirement annuity on or after the attainment of age 50, if
 2    Rule 4 of Section 15-136 is applicable to the participant.
 3        (b)  The annuity payment period shall begin on  the  date
 4    specified   by   the   participant   submitting   a   written
 5    application,  which date shall not be prior to termination of
 6    employment or more than one year before  the  application  is
 7    received  by the board; however, if the participant is not an
 8    employee of an employer participating in this System or in  a
 9    participating system as defined in Article 20 of this Code on
10    April 1 of the calendar year next following the calendar year
11    in  which  the  participant  attains  age 70 1/2, the annuity
12    payment period shall begin on that date regardless of whether
13    an application has been filed.
14        (c)  An annuity is not payable  if  the  amount  provided
15    under Section 15-136 is less than $10 per month.
16    (Source: P.A. 90-65, eff. 7-7-97; 90-766, eff. 8-14-98.)

17        Section  99.  Effective date.  This Act takes effect upon
18    becoming law.

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