Illinois General Assembly - Full Text of Public Act 102-0293
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Public Act 102-0293


 

Public Act 0293 102ND GENERAL ASSEMBLY

  
  
  

 


 
Public Act 102-0293
 
SB0603 EnrolledLRB102 10824 RPS 16154 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 Sections 6-124, 6-124.1, and 6-158 as follows:
 
    (40 ILCS 5/6-124)  (from Ch. 108 1/2, par. 6-124)
    Sec. 6-124. Future entrants; amount entrants-age 63 in
service-amount of annuity. When a future entrant attains age
63 in service, except for a fireman who is not subject to the
compulsory retirement age, his age and service annuity shall
be fixed as of age 63. The annuity shall be that provided from
the entire sum accumulated to his credit for age and service
annuity on the date he attains age 63.
    When a future entrant who is not subject to the compulsory
retirement age withdraws from service and is at least age 63,
his or her age and service annuity shall be fixed as of the age
he or she withdraws from service. The annuity shall be that
provided from the entire sum accumulated to his or her credit
for age and service annuity on the date he or she withdraws
from service.
(Source: P.A. 76-1668.)
 
    (40 ILCS 5/6-124.1)
    Sec. 6-124.1. Withdrawal from service; amount at
compulsory retirement age - amount of annuity.
    (a) In lieu of any annuity provided in the other
provisions of this Article, a fireman who (1) is required to
withdraw from service due to attainment of compulsory
retirement age, or is not subject to compulsory retirement
age, withdraws from service, and is at least age 63, and (2)
has at least 10 but less than 20 years of service credit may
elect to receive an annuity equal to 30% of average salary for
the first 10 years of service plus 2% of average salary for
each completed year of service or remaining fraction thereof
in excess of 10, but not to exceed a maximum of 50% of average
salary.
    (b) For the purpose of this Section, "average salary"
means the average of the fireman's highest 4 consecutive years
of salary within the last 10 years of service.
    (c) For the purpose of qualifying for the annual increases
provided in Section 6-164, a fireman whose retirement annuity
is calculated under this Section shall be deemed to qualify
for a minimum annuity.
(Source: P.A. 93-654, eff. 1-16-04.)
 
    (40 ILCS 5/6-158)  (from Ch. 108 1/2, par. 6-158)
    Sec. 6-158. Refund Refund - General.
    (a) A fireman who withdraws before age 50 and a fireman
with less than 10 years of service who withdraws before age 57,
or any fireman who withdraws and enters the service of another
department of the city, has a right to a refund of the entire
amount to his credit as of the date of withdrawal for age and
service annuity or Tier 2 monthly retirement annuity, for
automatic annual increase in annuity as provided in Section
6-164, and for widow's annuity or Tier 2 surviving spouse's
annuity, from deductions from salary.
    (b) Any such fireman shall be entitled to refund until he
re-enters service or until his annuity is fixed.
    (c) A fireman who receives a refund forfeits all rights to
any annuity or benefit from the fund, for himself and for any
other person who might benefit through him because of his
service, provided he shall retain the right to credit for any
such service, for the purpose of computing his total service
if he re-enters service before age 57, becomes a beneficiary
of the fund and makes repayment of the refund with interest.
    (d) A fireman completing 10 years of service who does not
receive a refund, may receive an annuity as provided in this
Article.
    (e) A fireman completing less than 10 years who does not
receive a refund has a right to have all amounts to his credit
for annuity purposes on the date of withdrawal improved by
interest while he is out of service until age 57 only, for his
benefit and the benefit of any person who may have any right to
annuity through him, if he subsequently reenters service and
attains a right to annuity.
(Source: P.A. 99-905, eff. 11-29-16.)
 
    Section 90. The State Mandates Act is amended by adding
Section 8.45 as follows:
 
    (30 ILCS 805/8.45 new)
    Sec. 8.45. Exempt mandate. Notwithstanding Sections 6 and
8 of this Act, no reimbursement by the State is required for
the implementation of any mandate created by this amendatory
Act of the 102nd General Assembly.
 
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 8/6/2021