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92_HB4226
LRB9212538EGfg
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 6-128.2 as follows:
6 (40 ILCS 5/6-128.2) (from Ch. 108 1/2, par. 6-128.2)
7 Sec. 6-128.2. Minimum retirement annuities.
8 (a) Beginning with the monthly payment due in January,
9 1988, the monthly annuity payment for any person who is
10 entitled to receive a retirement annuity under this Article
11 in January, 1990 and has retired from service at age 50 or
12 over with 20 or more years of service, and for any person who
13 retires from service on or after January 24, 1990 at age 50
14 or over with 20 or more years of service, shall not be less
15 than $475 per month. The $475 minimum annuity is exclusive of
16 any automatic annual increases provided by Sections 6-164 and
17 6-164.1, but not exclusive of previous raises in the minimum
18 annuity as provided by any Section of this Article.
19 Beginning January 1, 1992, the minimum retirement annuity
20 payable to any person who has retired from service at age 50
21 or over with 20 or more years of service and is entitled to
22 receive a retirement annuity under this Article on that date,
23 or who retires from service at age 50 or over with 20 or more
24 years of service after that date, shall be $650 per month.
25 Beginning January 1, 1993, the minimum retirement annuity
26 payable to any person who has retired from service at age 50
27 or over with 20 or more years of service and is entitled to
28 receive a retirement annuity under this Article on that date,
29 or who retires from service at age 50 or over with 20 or more
30 years of service after that date, shall be $750 per month.
31 Beginning January 1, 1994, the minimum retirement annuity
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1 payable to any person who has retired from service at age 50
2 or over with 20 or more years of service and is entitled to
3 receive a retirement annuity under this Article on that date,
4 or who retires from service at age 50 or over with 20 or more
5 years of service after that date, shall be $850 per month.
6 Beginning January 1, 2003, the minimum retirement annuity
7 payable to any person who has retired from service at age 50
8 or over with 20 or more years of service and is entitled to
9 receive a retirement annuity under this Article on that date,
10 or who retires from service at age 50 or over with 20 or more
11 years of service after that date, shall be $1,200 per month.
12 Beginning January 1, 2004, the minimum retirement annuity
13 payable to any person who has retired from service at age 50
14 or over with 20 or more years of service and is entitled to
15 receive a retirement annuity under this Article on that date,
16 or who retires from service at age 50 or over with 20 or more
17 years of service after that date, shall be $1,400 per month.
18 The minimum annuities established by this subsection (a)
19 do include previous raises in the minimum annuity as provided
20 by any Section of this Article, but do not include any sums
21 which have been added or will be added to annuity payments by
22 the automatic annual increases provided by Sections 6-164 and
23 6-164.1. Such annual increases shall be paid in addition to
24 the minimum amounts specified in this subsection.
25 (b) Notwithstanding any other provision of this Article,
26 beginning January 1, 1990, the minimum retirement annuity
27 payable to any person who is entitled to receive a retirement
28 annuity under this Article on that date shall be $475 per
29 month.
30 (c) The changes made to this Section by this amendatory
31 Act of the 92nd General Assembly shall apply to all persons
32 receiving a retirement annuity under this Article, without
33 regard to whether the retirement of the fireman occurred
34 prior to the effective date of this amendatory Act of 1993.
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1 (Source: P.A. 86-273; 86-1027; 86-1028; 86-1475; 87-849;
2 87-1265.)
3 Section 90. The State Mandates Act is amended by adding
4 Section 8.26 as follows:
5 (30 ILCS 805/8.26 new)
6 Sec. 8.26. Exempt mandate. Notwithstanding Sections 6
7 and 8 of this Act, no reimbursement by the State is required
8 for the implementation of any mandate created by this
9 amendatory Act of the 92nd General Assembly.
10 Section 99. Effective date. This Act takes effect upon
11 becoming law.