Public Act 099-0747
 
SB2972 EnrolledLRB099 18190 EFG 42558 b


  
    AN ACT concerning public employee benefits.
  
 
    Be it enacted by the People of the State of Illinois,
 
represented in the General Assembly:
  
 
 
    Section 5. The Illinois Pension Code is amended  by changing 
Section 7-166 as follows:
 



    (40 ILCS 5/7-166)  (from Ch. 108 1/2, par. 7-166)



    Sec. 7-166. Separation benefits - Eligibility. Separation 
benefits
shall be payable as hereinafter set forth:


        1. Upon separation from the service of all 
    participating municipalities
and instrumentalities thereof 
    and participating instrumentalities, any
participating 
    employee who, on the date of application for such benefit,

    is not entitled to a retirement annuity shall be entitled 
    to a separation
benefit.


        2. Upon separation from the service of all 
    participating municipalities
and instrumentalities thereof 
    and participating instrumentalities, any
participating 
    employee who, on the date of application for such benefit, 
    is
entitled to a retirement annuity of less than $100 $30 
    per month for life may elect
to take a separation benefit 
    in lieu of the retirement annuity.


        3. Upon separation from the service of all 
    participating municipalities
and instrumentalities thereof 
    and participating instrumentalities, any
participating 
    employee who, on the date of application for such benefit, 
    is
entitled to a retirement annuity, but wishes instead to 
    use the amounts to his
or her credit in the Fund to 
    purchase credit in another retirement plan, may
elect to 
    take a separation benefit in lieu of the retirement 
    annuity.

(Source: P.A. 91-887, eff. 7-6-00; 92-424, eff. 8-17-01.)

 
 
    Section 99. Effective date. This Act takes effect January 
1, 2017. 
  


Effective Date:  1/1/2017