|
|
|||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||
| |||||||||||||||||||||||||||
| |||||||||||||||||||||||||||
| |||||||||||||||||||||||||||
| 1 | AN ACT concerning 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 changing | ||||||||||||||||||||||||||
| 5 | 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 retires | ||||||||||||||||||||||||||
| 10 | from service
after September 1, 1959 shall, upon either the | ||||||||||||||||||||||||||
| 11 | first of the month following the
first anniversary of his date | ||||||||||||||||||||||||||
| 12 | of retirement if he is age 60 (age 55 if born
before January 1, | ||||||||||||||||||||||||||
| 13 | 1955) or over on that anniversary date, or upon
the first of | ||||||||||||||||||||||||||
| 14 | the month following his attainment of age 60 (age 55 if born
| ||||||||||||||||||||||||||
| 15 | before January 1, 1955) if that occurs after the first | ||||||||||||||||||||||||||
| 16 | anniversary
of his retirement date, have his then fixed and | ||||||||||||||||||||||||||
| 17 | payable monthly annuity
increased by 1 1/2%, and such first | ||||||||||||||||||||||||||
| 18 | fixed annuity as granted at retirement
increased by an | ||||||||||||||||||||||||||
| 19 | additional 1 1/2% in January of each year thereafter up to a
| ||||||||||||||||||||||||||
| 20 | maximum increase of 30%.
Beginning July 1, 1982 for firemen | ||||||||||||||||||||||||||
| 21 | born before January 1, 1930, and beginning
January 1, 1990 for | ||||||||||||||||||||||||||
| 22 | firemen born after December 31, 1929 and before January 1,
| ||||||||||||||||||||||||||
| 23 | 1940, and beginning January 1, 1996 for firemen born after | ||||||||||||||||||||||||||
| |||||||
| |||||||
| 1 | December 31, 1939
but before January 1, 1945, and beginning | ||||||
| 2 | January 1, 2004, for firemen born
after December 31, 1944 but | ||||||
| 3 | before January 1, 1955, such increases shall be
3% and such | ||||||
| 4 | firemen shall not be subject to the 30% maximum increase.
| ||||||
| 5 | Any fireman born before January 1, 1945 who qualifies for a | ||||||
| 6 | minimum annuity
and retires after September 1, 1967 but has not | ||||||
| 7 | received the initial increase
under this subsection before | ||||||
| 8 | January 1, 1996 is entitled to receive the initial
increase | ||||||
| 9 | under this subsection on (1) January 1, 1996, (2) the first
| ||||||
| 10 | anniversary of the date of retirement, or (3) attainment of age | ||||||
| 11 | 55, whichever
occurs last. The changes to this Section made by | ||||||
| 12 | this amendatory Act of 1995
apply beginning January 1, 1996 and | ||||||
| 13 | apply without regard to whether the fireman
or annuitant | ||||||
| 14 | terminated service before the effective date of this amendatory
| ||||||
| 15 | Act of 1995.
| ||||||
| 16 | Any fireman born before January 1, 1955 who qualifies for a | ||||||
| 17 | minimum
annuity and retires after September 1, 1967 but has not | ||||||
| 18 | received the initial
increase under this subsection before | ||||||
| 19 | January 1, 2004 is entitled to receive
the initial increase | ||||||
| 20 | under this subsection on (1) January 1, 2004, (2) the
first | ||||||
| 21 | anniversary of the date of retirement, or (3) attainment of age | ||||||
| 22 | 55,
whichever occurs last. The changes to this Section made by | ||||||
| 23 | this amendatory
Act of the 93rd General Assembly apply without | ||||||
| 24 | regard to whether the fireman
or annuitant terminated service | ||||||
| 25 | before the effective date of this amendatory
Act.
| ||||||
| 26 | Any fireman who qualifies for a minimum
annuity and retires | ||||||
| |||||||
| |||||||
| 1 | after September 1, 1967 but has not received the initial
| ||||||
| 2 | increase under this subsection before January 1, 2011 is | ||||||
| 3 | entitled to receive
the initial increase under this subsection | ||||||
| 4 | on (1) January 1, 2011, (2) the
first anniversary of the date | ||||||
| 5 | of retirement, or (3) attainment of age 55,
whichever occurs | ||||||
| 6 | last. The changes to this Section made by this amendatory
Act | ||||||
| 7 | of the 96th General Assembly apply without regard to whether | ||||||
| 8 | the fireman
or annuitant terminated service before the | ||||||
| 9 | effective date of this amendatory
Act. | ||||||
| 10 | (b) Subsection (a) of this Section is
not applicable to an | ||||||
| 11 | employee receiving a term annuity.
| ||||||
| 12 | (c) To help defray the cost of such increases in annuity, | ||||||
| 13 | there
shall be deducted, beginning September 1, 1959, from each | ||||||
| 14 | payment of salary
to a fireman, 1/8 of 1% of each such salary | ||||||
| 15 | payment and an additional 1/8
of 1% beginning on September 1, | ||||||
| 16 | 1961, and September 1, 1963, respectively,
concurrently with | ||||||
| 17 | and in addition to the salary deductions otherwise made
for | ||||||
| 18 | annuity purposes.
| ||||||
| 19 | Each such additional 1/8 of 1% deduction from salary which | ||||||
| 20 | shall, on
September 1, 1963, result in a total increase of 3/8 | ||||||
| 21 | of 1% of salary,
shall be credited to the Automatic Increase | ||||||
| 22 | Reserve, to be used,
together with city contributions as | ||||||
| 23 | provided in this Article, to defray
the cost of the 1 1/2% | ||||||
| 24 | annuity increments herein specified. Any balance
in such | ||||||
| 25 | reserve as of the beginning of each calendar year shall be
| ||||||
| 26 | credited with interest at the rate of 3% per annum.
| ||||||
| |||||||
| |||||||
| 1 | The salary deductions provided in this Section are not | ||||||
| 2 | subject to
refund, except to the fireman himself, in any case | ||||||
| 3 | in which a fireman
withdraws prior to qualification for minimum | ||||||
| 4 | annuity and applies for
refund, or applies for annuity, and | ||||||
| 5 | also where a term annuity becomes
payable. In such cases, the | ||||||
| 6 | total of such salary deductions shall be
refunded to the | ||||||
| 7 | fireman, without interest, and charged to the
aforementioned | ||||||
| 8 | reserve.
| ||||||
| 9 | (Source: P.A. 93-654, eff. 1-16-04.)
| ||||||
| 10 | Section 90. The State Mandates Act is amended by adding | ||||||
| 11 | Section 8.34 as follows:
| ||||||
| 12 | (30 ILCS 805/8.34 new) | ||||||
| 13 | Sec. 8.34. Exempt mandate. Notwithstanding Sections 6 and 8 | ||||||
| 14 | of this Act, no reimbursement by the State is required for the | ||||||
| 15 | implementation of any mandate created by this amendatory Act of | ||||||
| 16 | the 96th General Assembly.
| ||||||
| 17 | Section 99. Effective date. This Act takes effect upon | ||||||
| 18 | becoming law.
| ||||||