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92_HB0409 LRB9202013EGfg 1 AN ACT in relation to public employee benefits. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Illinois Pension Code is amended by 5 changing Section 6-164 as follows: 6 (40 ILCS 5/6-164) (from Ch. 108 1/2, par. 6-164) 7 Sec. 6-164. Automatic annual increase; retirement after 8 September 1, 1959. 9 (a) A fireman qualifying for a minimum annuity who 10 retires from service after September 1, 1959 shall, upon 11 either the first of the month following the first anniversary 12 of his date of retirement if he is age 60 (age 55 if born 13 before January 1, 1945) or over on that anniversary date, or 14 upon the first of the month following his attainment of age 15 60 (age 55 if born before January 1, 1945) if that occurs 16 after the first anniversary of his retirement date, have his 17 then fixed and payable monthly annuity increased by 1 1/2%, 18 and such first fixed annuity as granted at retirement 19 increased by an additional 1 1/2% in January of each year 20 thereafter up to a maximum increase of 30%. Beginning July 21 1, 1982 for firemen born before January 1, 1930, and 22 beginning January 1, 1990 for firemen born after December 31, 23 1929 and before January 1, 1940, and beginning January 1, 24 1996 for firemen born after December 31, 1939 but before 25 January 1, 1945, and beginning January 1, 2002 for all 26 firemen qualifying under this subsection without regard to 27 date of birth, such increases shall be 3% and such firemen 28 shall not be subject to the 30% maximum increase. Beginning 29 January 1, 2002, the increases provided under this subsection 30 shall be 3% of the total amount of annuity payable at the 31 time of the increase, including any previous increases -2- LRB9202013EGfg 1 granted under this Article. 2 Any fireman born before January 1, 1945 who qualifies for 3 a minimum annuity and retires after September 1, 1967 but 4 before the effective date of this amendatory Act of the 92nd 5 General Assembly and has not received the initial increase 6 under this subsection before January 1, 1996 is entitled to 7 receive the initial increase under this subsection on (1) 8 January 1, 1996, (2) the first anniversary of the date of 9 retirement, or (3) attainment of age 55, whichever occurs 10 last. The changes to this Section made by this amendatory 11 Act of 1995 apply beginning January 1, 1996 and apply without 12 regard to whether the fireman or annuitant terminated service 13 before the effective date of this amendatory Act of 1995. 14 A fireman who withdraws from service on or after the 15 effective date of this amendatory Act of the 92nd General 16 Assembly with at least 20 years of service credit is entitled 17 to receive the initial increase under this subsection on the 18 first anniversary of the date of retirement, regardless of 19 age. 20 A fireman who withdrew from service before the effective 21 date of this amendatory Act of the 92nd General Assembly with 22 at least 20 years of service credit and has not received the 23 initial increase under this subsection before January 1, 2002 24 is entitled to receive the initial increase under this 25 subsection on the later of January 1, 2002 or the first 26 anniversary of the date of retirement, regardless of age. 27 The changes to this Section made by this amendatory Act apply 28 without regard to whether the fireman or annuitant terminated 29 service before the effective date of this amendatory Act. 30 (b) Subsection (a) of this Section is not applicable to 31 an employee receiving a term annuity. 32 (c) To help defray the cost of such increases in 33 annuity, there shall be deducted, beginning September 1, 34 1959, from each payment of salary to a fireman, 1/8 of 1% of -3- LRB9202013EGfg 1 each such salary payment and an additional 1/8 of 1% 2 beginning on September 1, 1961, and September 1, 1963, 3 respectively, concurrently with and in addition to the salary 4 deductions otherwise made for annuity purposes. 5 Each such additional 1/8 of 1% deduction from salary 6 which shall, on September 1, 1963, result in a total increase 7 of 3/8 of 1% of salary, shall be credited to the Automatic 8 Increase Reserve, to be used, together with city 9 contributions as provided in this Article, to defray the cost 10 of the 1$1/2% annuity increments herein specified. Any 11 balance in such reserve as of the beginning of each calendar 12 year shall be credited with interest at the rate of 3% per 13 annum. 14 The salary deductions provided in this Section are not 15 subject to refund, except to the fireman himself, in any case 16 in which a fireman withdraws prior to qualification for 17 minimum annuity and applies for refund, or applies for 18 annuity, and also where a term annuity becomes payable. In 19 such cases, the total of such salary deductions shall be 20 refunded to the fireman, without interest, and charged to the 21 aforementioned reserve. 22 (Source: P.A. 89-136, eff. 7-14-95.) 23 Section 90. The State Mandates Act is amended by adding 24 Section 8.25 as follows: 25 (30 ILCS 805/8.25 new) 26 Sec. 8.25. Exempt mandate. Notwithstanding Sections 6 27 and 8 of this Act, no reimbursement by the State is required 28 for the implementation of any mandate created by this 29 amendatory Act of the 92nd General Assembly. 30 Section 99. Effective date. This Act takes effect upon 31 becoming law.