Bill Text: IL HB5673 | 2013-2014 | 98th General Assembly | Introduced

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Bill Title: Amends the Illinois Municipal Retirement Fund Article of the Illinois Pension Code. Deletes the requirement that the effective date of a retirement annuity may not be more than one year prior to the date on which the application for the annuity is received by the Fund. Provides instead that the annuity may begin no earlier than the day following the last day of creditable service. Effective immediately.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2014-12-03 - Session Sine Die [HB5673 Detail]

Download: Illinois-2013-HB5673-Introduced.html

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98TH GENERAL ASSEMBLY State of Illinois 2013 and 2014 HB5673 Introduced , by Rep. Michael J. Zalewski SYNOPSIS AS INTRODUCED:
40 ILCS 5/7-141 from Ch. 108 1/2, par. 7-141
Amends the Illinois Municipal Retirement Fund Article of the Illinois Pension Code. Deletes the requirement that the effective date of a retirement annuity may not be more than one year prior to the date on which the application for the annuity is received by the Fund. Provides instead that the annuity may begin no earlier than the day following the last day of creditable service. Effective immediately.
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FISCAL NOTE ACT MAY APPLY PENSION IMPACT NOTE ACT MAY APPLY
A BILL FOR
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AN ACT in relation to 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 7-141 as follows:
(40 ILCS 5/7-141) (from Ch. 108 1/2, par. 7-141)
Sec. 7-141. Retirement annuities - Conditions. Retirement
annuities shall be payable as hereinafter set forth:
(a) A participating employee who, regardless of cause, is
separated from the service of all participating municipalities
and instrumentalities thereof and participating
instrumentalities shall be entitled to a retirement annuity
provided:
1. He is at least age 55, or in the case of a person who
is eligible to have his annuity calculated under Section
7-142.1, he is at least age 50;
2. He is not entitled to receive earnings for
employment in a position requiring him, or entitling him to
elect, to be a participating employee;
3. The amount of his annuity, before the application of
paragraph (b) of Section 7-142 is at least $10 per month;
4. If he first became a participating employee after
December 31, 1961, he has at least 8 years of service. This

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service requirement shall not apply to any participating
employee, regardless of participation date, if the General
Assembly terminates the Fund.
(b) Retirement annuities shall be payable:
1. As provided in Section 7-119;
2. Except as provided in item 3, upon receipt by the
fund of a written application. The effective date may be
not more than one year prior to the date of the receipt by
the fund of the application;
3. Upon the earlier of:
(i) The date chosen by the member and included in
the written application, which shall be no earlier than
the day following the last day of creditable service,
or
(ii) Attainment Upon attainment of age 70 1/2 if
the member (i) is no longer in service, and (ii) is
otherwise entitled to an annuity under this Article;
4. To the beneficiary of the deceased annuitant for the
unpaid amount accrued to date of death, if any.
The changes to this Section made by this amendatory Act of
the 98th General Assembly apply to retirement annuities first
granted on or after the effective date of this amendatory Act,
without regard to whether the prospective annuitant was in
service on or after that effective date.
(Source: P.A. 97-328, eff. 8-12-11; 97-609, eff. 1-1-12.)
Section 99. Effective date. This Act takes effect upon

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becoming law.