Bill Text: IL HB6368 | 2009-2010 | 96th General Assembly | Engrossed
Bill Title: Amends the Illinois Pension Code. Makes a technical change in a Section concerning definitions.
Spectrum: Bipartisan Bill
Status: (Engrossed - Dead) 2010-06-27 - Pursuant to Senate Rule 3-9(b) / Referred to Assignments [HB6368 Detail]
Download: Illinois-2009-HB6368-Engrossed.html
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1 | AN ACT concerning public employee benefits.
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2 | Be it enacted by the People of the State of Illinois, | ||||||
3 | represented in the General Assembly:
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4 | Section 5. The Illinois Pension Code is amended by changing | ||||||
5 | Sections 2-108.1, 2-119, 2-119.01, 2-119.1, 2-121.1, 18-124, | ||||||
6 | 18-125, 18-125.1, and 18-128.01 as follows:
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7 | (40 ILCS 5/2-108.1) (from Ch. 108 1/2, par. 2-108.1)
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8 | Sec. 2-108.1. Highest salary for annuity purposes.
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9 | (a) "Highest salary for annuity purposes" means whichever | ||||||
10 | of
the following is applicable to the participant:
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11 | For a participant who first becomes a participant of this | ||||||
12 | System before August 10, 2009 ( the effective date of Public Act | ||||||
13 | 96-207) this amendatory Act of the 96th General Assembly :
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14 | (1) For a participant who is a member of the General | ||||||
15 | Assembly on his
or her last day of service: the highest | ||||||
16 | salary that is prescribed by law,
on the participant's last | ||||||
17 | day of service, for a member of the General
Assembly who is | ||||||
18 | not an officer; plus, if the participant was elected or
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19 | appointed to serve as an officer of the General Assembly | ||||||
20 | for 2 or more
years and has made contributions as required | ||||||
21 | under subsection (d) of
Section 2-126, the highest | ||||||
22 | additional amount of compensation prescribed by
law, at the | ||||||
23 | time of the participant's service as an officer, for |
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1 | members of
the General Assembly who serve in that office.
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2 | (2) For a participant who holds one of the State | ||||||
3 | executive offices
specified in Section 2-105 on his or her | ||||||
4 | last day of service: the highest
salary prescribed by law | ||||||
5 | for service in that office on the participant's
last day of | ||||||
6 | service.
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7 | (3) For a participant who is Clerk or Assistant Clerk | ||||||
8 | of the House of Representatives or Secretary or Assistant | ||||||
9 | Secretary of the Senate
on his or her last day of service: | ||||||
10 | the salary received for service in that
capacity on the | ||||||
11 | last day of service, but not to exceed the highest salary
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12 | (including additional compensation for service as an | ||||||
13 | officer) that is
prescribed by law on the participant's | ||||||
14 | last day of service for the highest
paid officer of the | ||||||
15 | General Assembly.
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16 | (4) For a participant who is a continuing participant | ||||||
17 | under Section
2-117.1 on his or her last day of service: | ||||||
18 | the salary received for service
in that capacity on the | ||||||
19 | last day of service, but not to exceed the highest
salary | ||||||
20 | (including additional compensation for service as an | ||||||
21 | officer) that
is prescribed by law on the participant's | ||||||
22 | last day of service for the
highest paid officer of the | ||||||
23 | General Assembly.
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24 | For a participant who first becomes a participant of this | ||||||
25 | System on or after August 10, 2009 ( the effective date of | ||||||
26 | Public Act 96-207) and before July 1, 2010 this amendatory Act |
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1 | of the 96th General Assembly , the average monthly salary | ||||||
2 | obtained by dividing the total salary of the participant during | ||||||
3 | the period of: (1) the 48 consecutive months of service within | ||||||
4 | the last 120 months of service in which the total compensation | ||||||
5 | was the highest, or (2) the total period of service, if less | ||||||
6 | than 48 months, by the number of months of service in that | ||||||
7 | period. | ||||||
8 | For a participant who first becomes a participant of this | ||||||
9 | System on or after July 1, 2010, the average monthly salary | ||||||
10 | obtained by dividing the total salary of the participant during | ||||||
11 | the 96 consecutive months of service within the last 120 months | ||||||
12 | of service in which the total compensation was the highest by | ||||||
13 | the number of months of service in that period; however, the | ||||||
14 | highest salary for annuity purposes may not exceed the Social | ||||||
15 | Security Covered Wage Base for 2010, and shall automatically be | ||||||
16 | increased or decreased, as applicable,
by a percentage equal to | ||||||
17 | the percentage change in the consumer price index-u
during the | ||||||
18 | preceding 12-month calendar year. "Consumer price index-u" | ||||||
19 | means
the index published by the Bureau of Labor Statistics of | ||||||
20 | the United States
Department of Labor that measures the average | ||||||
21 | change in prices of goods and
services purchased by all urban | ||||||
22 | consumers, United States city average, all
items, 1982-84 = | ||||||
23 | 100. The new amount resulting from each annual adjustment
shall | ||||||
24 | be determined by the Public Pension Division of the Department | ||||||
25 | of Insurance and made available to the Board. | ||||||
26 | (b) The earnings limitations of subsection (a) apply to |
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1 | earnings
under any other participating system under the | ||||||
2 | Retirement Systems Reciprocal
Act that are considered in | ||||||
3 | calculating a proportional annuity under this
Article, except | ||||||
4 | in the case of a person who first became a member of this
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5 | System before August 22,
1994.
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6 | (c) In calculating the subsection (a) earnings limitation | ||||||
7 | to be applied to
earnings under any other participating system | ||||||
8 | under the Retirement Systems
Reciprocal Act for the purpose of | ||||||
9 | calculating a proportional annuity under this
Article, the | ||||||
10 | participant's last day of service shall be deemed to mean the | ||||||
11 | last
day of service in any participating system from which the | ||||||
12 | person has applied
for a proportional annuity under the | ||||||
13 | Retirement Systems Reciprocal Act.
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14 | (Source: P.A. 96-207, eff. 8-10-09.)
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15 | (40 ILCS 5/2-119) (from Ch. 108 1/2, par. 2-119)
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16 | Sec. 2-119. Retirement annuity - conditions for | ||||||
17 | eligibility. | ||||||
18 | (a)
A participant whose service as a
member is terminated, | ||||||
19 | regardless of age or cause, is entitled to a retirement
annuity | ||||||
20 | beginning on the date specified by the participant in
a written | ||||||
21 | application subject to the following conditions:
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22 | 1. The date the annuity begins does not precede
the | ||||||
23 | date of final
termination of service, or is not more than | ||||||
24 | 30 days before the receipt
of the application
by the board | ||||||
25 | in the case of annuities based on disability or one year |
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1 | before
the receipt of the application in the case of | ||||||
2 | annuities
based on attained age;
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3 | 2. The participant meets one of the following | ||||||
4 | eligibility requirements: | ||||||
5 | For a participant who first becomes a participant of | ||||||
6 | this System before July 1, 2010:
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7 | (A) He or she has attained age 55 and has at least | ||||||
8 | 8 years of service credit;
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9 | (B) He or she has attained age 62 and terminated | ||||||
10 | service after July 1,
1971 with at least 4 years of | ||||||
11 | service credit; or
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12 | (C) He or she has completed 8 years of service and | ||||||
13 | has become
permanently disabled and as a consequence, | ||||||
14 | is unable to perform the duties
of his or her office.
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15 | For a participant who first becomes a participant of | ||||||
16 | this System on or after July 1, 2010, he or she has | ||||||
17 | attained age 67 and has at least 8 years of service credit. | ||||||
18 | (a-5) A participant who first becomes a participant of this | ||||||
19 | System on or after July 1, 2010 who has attained age 62 and has | ||||||
20 | at least 8 years of service credit may elect to receive the | ||||||
21 | lower retirement annuity provided
in paragraph (c) of Section | ||||||
22 | 2-119.01 of this Code. | ||||||
23 | (b) A participant shall be considered permanently disabled | ||||||
24 | only if:
(1) disability occurs while in service and is
of such | ||||||
25 | a nature
as to prevent him or her from reasonably performing | ||||||
26 | the duties of his
or her office at
the time; and (2) the board |
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1 | has received a written certificate by at
least 2 licensed | ||||||
2 | physicians appointed by the board stating that the member is
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3 | disabled and that the disability is likely to be permanent.
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4 | (Source: P.A. 83-1440.)
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5 | (40 ILCS 5/2-119.01) (from Ch. 108 1/2, par. 2-119.01)
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6 | Sec. 2-119.01. Retirement annuities - Amount.
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7 | (a) For a participant
in service after June 30, 1977 who | ||||||
8 | has not made contributions to this System
after January 1, | ||||||
9 | 1982, the annual retirement annuity is 3% for each of the
first | ||||||
10 | 8 years of service, plus 4% for each of the next 4 years of | ||||||
11 | service,
plus 5% for each year of service in excess of 12 | ||||||
12 | years, based on the
participant's highest salary for annuity | ||||||
13 | purposes. The maximum
retirement annuity payable
shall be 80% | ||||||
14 | of the participant's highest salary for
annuity purposes.
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15 | (b) For a participant in service after June 30, 1977 who | ||||||
16 | has made
contributions to this System on or after January 1, | ||||||
17 | 1982, the annual
retirement annuity is 3% for each of the first | ||||||
18 | 4 years of service, plus 3
1/2% for each of the next 2 years of | ||||||
19 | service, plus 4% for each of the next
2 years of service, plus | ||||||
20 | 4 1/2% for each of the next 4 years of service,
plus 5% for each | ||||||
21 | year of service in excess of 12 years, of the
participant's | ||||||
22 | highest salary for annuity purposes. The maximum retirement
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23 | annuity payable shall be 85% of the participant's highest
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24 | salary for annuity purposes.
| ||||||
25 | (c) Notwithstanding any other provision of this Article, |
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1 | for a participant who first becomes a participant on or after | ||||||
2 | July 1, 2010, the annual
retirement annuity is 3% of the
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3 | participant's highest salary for annuity purposes for each year | ||||||
4 | of service. The maximum retirement
annuity payable shall be 60% | ||||||
5 | of the participant's highest
salary for annuity purposes. | ||||||
6 | (d) Notwithstanding any other provision of this Article, | ||||||
7 | for a participant who first becomes a participant on or after | ||||||
8 | July 1, 2010 and who is retiring after attaining age 62 with at | ||||||
9 | least 8 years of service credit, the retirement annuity shall | ||||||
10 | be reduced by one-half
of 1% for each month that the member's | ||||||
11 | age is under age 67. | ||||||
12 | (Source: P.A. 86-1488.)
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13 | (40 ILCS 5/2-119.1) (from Ch. 108 1/2, par. 2-119.1)
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14 | Sec. 2-119.1. Automatic increase in retirement annuity.
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15 | (a) A participant who retires after June 30, 1967, and who | ||||||
16 | has not
received an initial increase under this Section before | ||||||
17 | the effective date
of this amendatory Act of 1991, shall, in | ||||||
18 | January or July next following
the first anniversary of | ||||||
19 | retirement, whichever occurs first, and in the same
month of | ||||||
20 | each year thereafter, but in no event prior to age 60, have the | ||||||
21 | amount
of the originally granted retirement annuity increased | ||||||
22 | as follows: for each
year through 1971, 1 1/2%; for each year | ||||||
23 | from 1972 through 1979, 2%; and for
1980 and each year | ||||||
24 | thereafter, 3%. Annuitants who have received an initial
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25 | increase under this subsection prior to the effective date of |
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1 | this amendatory
Act of 1991 shall continue to receive their | ||||||
2 | annual increases in the same month
as the initial increase.
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3 | (b) Beginning January 1, 1990, for eligible participants | ||||||
4 | who remain
in service after attaining 20 years of creditable | ||||||
5 | service, the 3% increases
provided under subsection (a) shall | ||||||
6 | begin to accrue on the January 1 next
following the date upon | ||||||
7 | which the participant (1) attains age 55, or (2)
attains 20 | ||||||
8 | years of creditable service, whichever occurs later, and shall
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9 | continue to accrue while the participant remains in service; | ||||||
10 | such increases
shall become payable on January 1 or July 1, | ||||||
11 | whichever occurs first, next
following the first anniversary of | ||||||
12 | retirement. For any person who has service
credit in the System | ||||||
13 | for the entire period from January 15, 1969 through
December | ||||||
14 | 31, 1992, regardless of the date of termination of service, the
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15 | reference to age 55 in clause (1) of this subsection (b) shall | ||||||
16 | be deemed to
mean age 50.
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17 | This subsection (b) does not apply to any person who first | ||||||
18 | becomes a
member of the System after the effective date of this | ||||||
19 | amendatory Act of
the 93rd General Assembly.
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20 | (b-5) Notwithstanding any other provision of this Article, | ||||||
21 | a participant who first becomes a participant on or after July | ||||||
22 | 1, 2010 shall, in January or July next following the first | ||||||
23 | anniversary of retirement, whichever occurs first, and in the | ||||||
24 | same month of each year thereafter, but in no event prior to | ||||||
25 | age 67, have the amount of the retirement annuity then being | ||||||
26 | paid increased by 3% or the annual change in the Consumer Price |
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1 | Index for All Urban Consumers, whichever is less. | ||||||
2 | (c) The foregoing provisions relating to automatic | ||||||
3 | increases are not
applicable to a participant who retires | ||||||
4 | before having made contributions
(at the rate prescribed in | ||||||
5 | Section 2-126) for automatic increases for less
than the | ||||||
6 | equivalent of one full year. However, in order to be eligible | ||||||
7 | for
the automatic increases, such a participant may make | ||||||
8 | arrangements to pay
to the system the amount required to bring | ||||||
9 | the total contributions for the
automatic increase to the | ||||||
10 | equivalent of one year's contributions based upon
his or her | ||||||
11 | last salary.
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12 | (d) A participant who terminated service prior to July 1, | ||||||
13 | 1967, with at
least 14 years of service is entitled to an | ||||||
14 | increase in retirement annuity
beginning January, 1976, and to | ||||||
15 | additional increases in January of each
year thereafter.
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16 | The initial increase shall be 1 1/2% of the originally | ||||||
17 | granted retirement
annuity multiplied by the number of full | ||||||
18 | years that the annuitant was in
receipt of such annuity prior | ||||||
19 | to January 1, 1972, plus 2% of the originally
granted | ||||||
20 | retirement annuity for each year after that date. The | ||||||
21 | subsequent
annual increases shall be at the rate of 2% of the | ||||||
22 | originally granted
retirement annuity for each year through | ||||||
23 | 1979 and at the rate of 3% for
1980 and thereafter.
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24 | (e) Beginning January 1, 1990, all automatic annual | ||||||
25 | increases payable
under this Section shall be calculated as a | ||||||
26 | percentage of the total annuity
payable at the time of the |
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1 | increase, including previous increases granted
under this | ||||||
2 | Article.
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3 | (Source: P.A. 93-494, eff. 8-8-03.)
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4 | (40 ILCS 5/2-121.1) (from Ch. 108 1/2, par. 2-121.1)
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5 | Sec. 2-121.1. Survivor's annuity - amount.
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6 | (a) A surviving spouse shall be entitled to 66 2/3% of the | ||||||
7 | amount of
retirement annuity to which the participant or | ||||||
8 | annuitant was entitled on
the date of death, without regard to | ||||||
9 | whether the participant had attained
age 55 prior to his or her | ||||||
10 | death, subject to a minimum payment of 10% of
salary. If a | ||||||
11 | surviving spouse, regardless of age, has in his or her care
at | ||||||
12 | the date of death any eligible child or children of the | ||||||
13 | participant, the
survivor's annuity shall be the greater of the | ||||||
14 | following: (1) 66 2/3% of
the amount of retirement annuity to | ||||||
15 | which the participant or annuitant was
entitled on the date of | ||||||
16 | death, or (2) 30% of the participant's salary
increased by 10% | ||||||
17 | of salary on account of each such child, subject to a
total | ||||||
18 | payment for the surviving spouse and children of 50% of salary. | ||||||
19 | If
eligible children survive but there is no surviving spouse, | ||||||
20 | or if the
surviving spouse dies or becomes disqualified by
| ||||||
21 | remarriage while eligible children survive, each
eligible | ||||||
22 | child shall be entitled to an annuity of 20% of salary, subject
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23 | to a maximum total payment for all such children of 50% of | ||||||
24 | salary.
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25 | However, the survivor's annuity payable under this Section |
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1 | shall not be
less than 100% of the amount of retirement annuity | ||||||
2 | to which the participant
or annuitant was entitled on the date | ||||||
3 | of death, if he or she is survived by
a dependent disabled | ||||||
4 | child.
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5 | The salary to be used for determining these benefits shall | ||||||
6 | be the
salary used for determining the amount of retirement | ||||||
7 | annuity as provided
in Section 2-119.01.
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8 | (b) Upon the death of a participant after the termination | ||||||
9 | of service or
upon death of an annuitant, the maximum total | ||||||
10 | payment to a surviving spouse
and eligible children, or to | ||||||
11 | eligible children alone if there is no surviving
spouse, shall | ||||||
12 | be 75% of the retirement annuity to which the participant
or | ||||||
13 | annuitant was entitled, unless there is a dependent disabled | ||||||
14 | child
among the survivors.
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15 | (c) When a child ceases to be an eligible child, the | ||||||
16 | annuity to that
child, or to the surviving spouse on account of | ||||||
17 | that child, shall thereupon
cease, and the annuity payable to | ||||||
18 | the surviving spouse or other eligible
children shall be | ||||||
19 | recalculated if necessary.
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20 | Upon the ineligibility of the last eligible child, the | ||||||
21 | annuity shall
immediately revert to the amount payable upon | ||||||
22 | death of a participant or
annuitant who leaves no eligible | ||||||
23 | children. If the surviving spouse is then
under age 50, the | ||||||
24 | annuity as revised shall be deferred until the attainment
of | ||||||
25 | age 50.
| ||||||
26 | (d) Beginning January 1, 1990, every survivor's annuity |
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1 | shall be increased
(1) on each January 1 occurring on or after | ||||||
2 | the commencement of the annuity if
the deceased member died | ||||||
3 | while receiving a retirement annuity, or (2) in
other cases, on | ||||||
4 | each January 1 occurring on or after the first anniversary
of | ||||||
5 | the commencement of the annuity, by an amount equal to 3% of | ||||||
6 | the current
amount of the annuity, including any previous | ||||||
7 | increases under this Article.
Such increases shall apply | ||||||
8 | without regard to whether the deceased member
was in service on | ||||||
9 | or after the effective date of this amendatory Act of
1991, but | ||||||
10 | shall not accrue for any period prior to January 1, 1990.
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11 | (d-5) Notwithstanding any other provision of this Article, | ||||||
12 | the initial survivor's annuity of a survivor of a participant | ||||||
13 | who first becomes a participant on or after July 1, 2010 shall | ||||||
14 | be in the amount of 66 2/3% of the amount of the retirement | ||||||
15 | annuity to which the participant or annuitant was entitled on | ||||||
16 | the date of death and shall be increased (1) on each January 1 | ||||||
17 | occurring on or after the commencement of the annuity if
the | ||||||
18 | deceased member died while receiving a retirement annuity or | ||||||
19 | (2) in
other cases, on each January 1 occurring on or after the | ||||||
20 | first anniversary
of the commencement of the annuity, by an | ||||||
21 | amount equal to 3% or the annual change in the Consumer Price | ||||||
22 | Index for All Urban Consumers, whichever is less, of the | ||||||
23 | survivor's annuity then being paid. | ||||||
24 | (e) Notwithstanding any other provision of this Article, | ||||||
25 | beginning
January 1, 1990, the minimum survivor's annuity | ||||||
26 | payable to any person who
is entitled to receive a survivor's |
| |||||||
| |||||||
1 | annuity under this Article shall be
$300 per month, without | ||||||
2 | regard to whether or not the deceased participant
was in | ||||||
3 | service on the effective date of this amendatory Act of 1989.
| ||||||
4 | (f) In the case of a proportional survivor's annuity | ||||||
5 | arising under
the Retirement Systems Reciprocal Act where the | ||||||
6 | amount payable by the
System on January 1, 1993 is less than | ||||||
7 | $300 per month, the amount payable
by the System shall be | ||||||
8 | increased beginning on that date by a monthly amount
equal to | ||||||
9 | $2 for each full year that has expired since the annuity began.
| ||||||
10 | (Source: P.A. 91-887, eff. 7-6-00.)
| ||||||
11 | (40 ILCS 5/18-124) (from Ch. 108 1/2, par. 18-124)
| ||||||
12 | Sec. 18-124. Retirement annuities - conditions for | ||||||
13 | eligibility. | ||||||
14 | (a) This subsection (a) applies to a participant who first | ||||||
15 | serves as a judge before July 1, 2010. | ||||||
16 | A
participant whose employment as a judge is terminated, | ||||||
17 | regardless of age
or cause is entitled to a retirement annuity | ||||||
18 | beginning on
the date specified in a written application | ||||||
19 | subject to the
following:
| ||||||
20 | (1) the date the annuity begins is subsequent
to the | ||||||
21 | date of final
termination of employment, or the date 30 | ||||||
22 | days prior to the receipt of
the application by the board | ||||||
23 | for annuities based on
disability, or one year before the | ||||||
24 | receipt of the application by the
board for annuities based | ||||||
25 | on attained age;
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| |||||||
1 | (2) the participant is at least age 55, or has
become | ||||||
2 | permanently disabled and as
a consequence is unable to | ||||||
3 | perform the duties of his or her office;
| ||||||
4 | (3) the participant has at least 10 years of service
| ||||||
5 | credit except that a participant terminating service after | ||||||
6 | June
30 1975, with at least 6 years of service credit, | ||||||
7 | shall be entitled to
a retirement annuity at age 62 or | ||||||
8 | over;
| ||||||
9 | (4) the participant is not receiving or entitled
to | ||||||
10 | receive, at the date of
retirement, any salary from an | ||||||
11 | employer for service currently performed.
| ||||||
12 | (b) This subsection (b) applies to a participant who first | ||||||
13 | serves as a judge on or after July 1, 2010. | ||||||
14 | A participant who has at least 8 years of creditable | ||||||
15 | service is
entitled to a retirement annuity when he or she has | ||||||
16 | attained age 67. | ||||||
17 | A member who has attained age 62 and has at least 8 years | ||||||
18 | of service credit may elect to receive the lower retirement | ||||||
19 | annuity provided
in subsection (d) of Section 18-125 of this | ||||||
20 | Code. | ||||||
21 | (Source: P.A. 83-1440.)
| ||||||
22 | (40 ILCS 5/18-125) (from Ch. 108 1/2, par. 18-125)
| ||||||
23 | Sec. 18-125. Retirement annuity amount.
| ||||||
24 | (a) The annual retirement annuity for a participant who | ||||||
25 | terminated
service as a judge prior to July 1, 1971 shall be |
| |||||||
| |||||||
1 | based on the law in
effect at the time of termination of | ||||||
2 | service.
| ||||||
3 | (b) Except as provided in subsection (b-5), effective | ||||||
4 | Effective July 1, 1971, the retirement annuity for any | ||||||
5 | participant
in service on or after such date shall be 3 1/2% of | ||||||
6 | final average salary,
as defined in this Section, for each of | ||||||
7 | the first 10 years of service, and
5% of such final average | ||||||
8 | salary for each year of service on excess of 10.
| ||||||
9 | For purposes of this Section, final average salary for a | ||||||
10 | participant who first serves as a judge before August 10, 2009 | ||||||
11 | ( the effective date of Public Act 96-207) this amendatory Act | ||||||
12 | of the 96th General Assembly shall be:
| ||||||
13 | (1) the average salary for the last 4 years of credited | ||||||
14 | service as a
judge for a participant who terminates service | ||||||
15 | before July 1, 1975.
| ||||||
16 | (2) for a participant who terminates service after June | ||||||
17 | 30, 1975
and before July 1, 1982, the salary on the last | ||||||
18 | day of employment as a judge.
| ||||||
19 | (3) for any participant who terminates service after | ||||||
20 | June 30, 1982 and
before January 1, 1990, the average | ||||||
21 | salary for the final year of service as
a judge.
| ||||||
22 | (4) for a participant who terminates service on or | ||||||
23 | after January 1,
1990 but before the effective date of this | ||||||
24 | amendatory Act of 1995, the
salary on the last day of | ||||||
25 | employment as a judge.
| ||||||
26 | (5) for a participant who terminates service on or |
| |||||||
| |||||||
1 | after the effective
date of this amendatory Act of 1995, | ||||||
2 | the salary on the last day of employment
as a judge, or the | ||||||
3 | highest salary received by the participant for employment | ||||||
4 | as
a judge in a position held by the participant for at | ||||||
5 | least 4 consecutive years,
whichever is greater.
| ||||||
6 | However, in the case of a participant who elects to | ||||||
7 | discontinue contributions
as provided in subdivision (a)(2) of | ||||||
8 | Section 18-133, the time of such
election shall be considered | ||||||
9 | the last day of employment in the determination
of final | ||||||
10 | average salary under this subsection.
| ||||||
11 | For a participant who first serves as a judge on or after | ||||||
12 | August 10, 2009 ( the effective date of Public Act 96-207) and | ||||||
13 | before July 1, 2010 this amendatory Act of the 96th General | ||||||
14 | Assembly , final average salary shall be the average monthly | ||||||
15 | salary obtained by dividing the total salary of the participant | ||||||
16 | during the period of: (1) the 48 consecutive months of service | ||||||
17 | within the last 120 months of service in which the total | ||||||
18 | compensation was the highest, or (2) the total period of | ||||||
19 | service, if less than 48 months, by the number of months of | ||||||
20 | service in that period. | ||||||
21 | The maximum retirement annuity for any participant shall be | ||||||
22 | 85% of final
average salary.
| ||||||
23 | (b-5) Notwithstanding any other provision of this Article, | ||||||
24 | for a participant who first serves as a judge on or after July | ||||||
25 | 1, 2010, the annual
retirement annuity is 3% of the
| ||||||
26 | participant's final average salary for each year of service. |
| |||||||
| |||||||
1 | The maximum retirement
annuity payable shall be 60% of the | ||||||
2 | participant's final average salary. | ||||||
3 | For a participant who first serves as a judge on or after | ||||||
4 | July 1, 2010, final average salary shall be the average monthly | ||||||
5 | salary obtained by dividing the total salary of the judge | ||||||
6 | during the 96 consecutive months of service within the last 120 | ||||||
7 | months of service in which the total salary was the highest by | ||||||
8 | the number of months of service in that period; however, the | ||||||
9 | final average salary may not exceed the Social Security Covered | ||||||
10 | Wage Base for 2010, and shall automatically be increased or | ||||||
11 | decreased, as applicable,
by a percentage equal to the | ||||||
12 | percentage change in the consumer price index-u
during the | ||||||
13 | preceding 12-month calendar year. "Consumer price index-u" | ||||||
14 | means
the index published by the Bureau of Labor Statistics of | ||||||
15 | the United States
Department of Labor that measures the average | ||||||
16 | change in prices of goods and
services purchased by all urban | ||||||
17 | consumers, United States city average, all
items, 1982-84 = | ||||||
18 | 100. The new amount resulting from each annual adjustment
shall | ||||||
19 | be determined by the Public Pension Division of the Department | ||||||
20 | of Insurance and made available to the Board. | ||||||
21 | (c) The retirement annuity for a participant who retires | ||||||
22 | prior to age 60
with less than 28 years of service in the | ||||||
23 | System shall be reduced 1/2 of 1%
for each month that the | ||||||
24 | participant's age is under 60 years at the time the
annuity | ||||||
25 | commences. However, for a participant who retires on or after | ||||||
26 | the
effective date of this amendatory Act of the 91st General |
| |||||||
| |||||||
1 | Assembly, the
percentage reduction in retirement annuity | ||||||
2 | imposed under this subsection shall
be reduced by 5/12 of 1% | ||||||
3 | for every month of service in this System in excess of
20 | ||||||
4 | years, and therefore a participant with at least 26 years of | ||||||
5 | service in this
System may retire at age 55 without any | ||||||
6 | reduction in annuity.
| ||||||
7 | The reduction in retirement annuity imposed by this | ||||||
8 | subsection shall not
apply in the case of retirement on account | ||||||
9 | of disability.
| ||||||
10 | (d) Notwithstanding any other provision of this Article, | ||||||
11 | for a participant who first serves as a judge on or after July | ||||||
12 | 1, 2010 and who is retiring after attaining age 62, the | ||||||
13 | retirement annuity shall be reduced by 1/2
of 1% for each month | ||||||
14 | that the participant's age is under age 67 at the time
the | ||||||
15 | annuity commences. | ||||||
16 | (Source: P.A. 96-207, eff. 8-10-09; revised 10-30-09.)
| ||||||
17 | (40 ILCS 5/18-125.1) (from Ch. 108 1/2, par. 18-125.1)
| ||||||
18 | Sec. 18-125.1. Automatic increase in retirement annuity. A | ||||||
19 | participant who
retires from service after June 30, 1969, | ||||||
20 | shall, in January of the year next
following the year in which | ||||||
21 | the first anniversary of retirement occurs, and in
January of | ||||||
22 | each year thereafter, have the amount of his or her originally
| ||||||
23 | granted retirement annuity increased as follows: for each year | ||||||
24 | up to and
including 1971, 1 1/2%; for each year from 1972 | ||||||
25 | through 1979 inclusive, 2%; and
for 1980 and each year |
| |||||||
| |||||||
1 | thereafter, 3%.
| ||||||
2 | Notwithstanding any other provision of this Article, a | ||||||
3 | retirement annuity for a participant who first serves as a | ||||||
4 | judge on or after July 1, 2010 shall be increased in January of | ||||||
5 | the year next
following the year in which the first anniversary | ||||||
6 | of retirement occurs, and in
January of each year thereafter, | ||||||
7 | by an amount equal to 3% or the annual change in the Consumer | ||||||
8 | Price Index for All Urban Consumers, whichever is less, of the | ||||||
9 | retirement annuity then being paid. | ||||||
10 | This Section is not applicable to a participant who retires | ||||||
11 | before he
or she has made contributions at the rate prescribed | ||||||
12 | in Section 18-133 for
automatic increases for not less than the | ||||||
13 | equivalent of one full year, unless
such a participant arranges | ||||||
14 | to pay the system the amount required to bring
the total | ||||||
15 | contributions for the automatic increase to the equivalent of
| ||||||
16 | one year's contribution based upon his or her last year's | ||||||
17 | salary.
| ||||||
18 | This Section is applicable to all participants in service | ||||||
19 | after June 30,
1969 unless a participant has elected, prior to | ||||||
20 | September 1,
1969, in a written direction filed with the board | ||||||
21 | not to be subject to
the provisions of this Section. Any | ||||||
22 | participant in service on or after
July 1, 1992 shall have the | ||||||
23 | option of electing prior to April 1, 1993,
in a written | ||||||
24 | direction filed with the board, to be covered by the provisions | ||||||
25 | of
the 1969 amendatory Act. Such participant shall be required | ||||||
26 | to make the
aforesaid additional contributions with compound |
| |||||||
| |||||||
1 | interest at 4% per annum.
| ||||||
2 | Any participant who has become eligible to receive the | ||||||
3 | maximum rate of
annuity and who resumes service as a judge | ||||||
4 | after receiving a retirement
annuity under this Article shall | ||||||
5 | have the amount of his or her
retirement annuity increased by | ||||||
6 | 3% of the originally granted annuity amount
for each year of | ||||||
7 | such resumed service, beginning in January of the year
next | ||||||
8 | following the date of such resumed service, upon subsequent
| ||||||
9 | termination of such resumed service.
| ||||||
10 | Beginning January 1, 1990, all automatic annual increases | ||||||
11 | payable
under this Section shall be calculated as a percentage | ||||||
12 | of the total annuity
payable at the time of the increase, | ||||||
13 | including previous increases granted
under this Article.
| ||||||
14 | (Source: P.A. 86-273; 87-1265.)
| ||||||
15 | (40 ILCS 5/18-128.01) (from Ch. 108 1/2, par. 18-128.01)
| ||||||
16 | Sec. 18-128.01. Amount of survivor's annuity.
| ||||||
17 | (a) Upon the death of
an annuitant, his or her surviving | ||||||
18 | spouse shall be entitled to a survivor's
annuity of 66 2/3% of | ||||||
19 | the annuity the annuitant was receiving immediately
prior to | ||||||
20 | his or her death, inclusive of annual increases in the | ||||||
21 | retirement
annuity to the date of death.
| ||||||
22 | (b) Upon the death of an active participant, his or her | ||||||
23 | surviving spouse
shall receive a survivor's annuity of 66 2/3% | ||||||
24 | of the annuity earned by the
participant as of the date of his | ||||||
25 | or her death, determined without regard
to whether the |
| |||||||
| |||||||
1 | participant had attained age 60 as of that time, or 7 1/2%
of | ||||||
2 | the last salary of the decedent, whichever is greater.
| ||||||
3 | (c) Upon the death of a participant who had terminated | ||||||
4 | service with at
least 10 years of service, his or her surviving | ||||||
5 | spouse shall be entitled
to a survivor's annuity of 66 2/3% of | ||||||
6 | the annuity earned by the deceased
participant at the date of | ||||||
7 | death.
| ||||||
8 | (d) Upon the death of an annuitant, active participant, or | ||||||
9 | participant
who had terminated service with at least 10 years | ||||||
10 | of service, each surviving
child under the age of 18 or | ||||||
11 | disabled as defined in Section 18-128 shall
be entitled to a | ||||||
12 | child's annuity in an amount equal to 5% of the decedent's
| ||||||
13 | final salary, not to exceed in total for all such children the | ||||||
14 | greater of
20% of the decedent's last salary or 66 2/3% of the | ||||||
15 | annuity received or
earned by the decedent as provided under | ||||||
16 | subsections (a) and (b) of this
Section. This child's annuity | ||||||
17 | shall be paid whether or not a survivor's
annuity was elected | ||||||
18 | under Section 18-123.
| ||||||
19 | (e) The changes made in the survivor's annuity provisions | ||||||
20 | by Public Act
82-306 shall apply to the survivors of a deceased | ||||||
21 | participant or annuitant
whose death occurs on or after August | ||||||
22 | 21, 1981.
| ||||||
23 | (f) Beginning January 1, 1990, every survivor's annuity | ||||||
24 | shall be
increased
(1) on each January 1 occurring on or after | ||||||
25 | the commencement of the annuity if
the deceased member died | ||||||
26 | while receiving a retirement annuity, or (2) in other cases,
on |
| |||||||
| |||||||
1 | each January 1 occurring on or after the first anniversary of
| ||||||
2 | the commencement of the annuity, by an amount equal to 3% of | ||||||
3 | the current
amount of the annuity, including any previous | ||||||
4 | increases under this Article.
Such increases shall apply | ||||||
5 | without regard to whether the deceased member
was in service on | ||||||
6 | or after the effective date of this amendatory Act of
1991, but | ||||||
7 | shall not accrue for any period prior to January 1, 1990.
| ||||||
8 | (g) Notwithstanding any other provision of this Article, | ||||||
9 | the initial survivor's annuity for a survivor of a participant | ||||||
10 | who first serves as a judge after July 1, 2010 shall be in the | ||||||
11 | amount of 66 2/3% of the annuity received or earned by the | ||||||
12 | decedent as provided under subsections (a) or (b) of this | ||||||
13 | Section, and shall be increased (1) on each January 1 occurring | ||||||
14 | on or after the commencement of the annuity if
the deceased | ||||||
15 | participant died while receiving a retirement annuity, or (2) | ||||||
16 | in other cases,
on each January 1 occurring on or after the | ||||||
17 | first anniversary of
the commencement of the annuity, by an | ||||||
18 | amount equal to 3% or the annual change in the Consumer Price | ||||||
19 | Index for All Urban Consumers, whichever is less, of the | ||||||
20 | survivor's annuity then being paid. | ||||||
21 | (Source: P.A. 86-273; 86-1488.)
| ||||||
22 | Section 99. Effective date. This Act takes effect upon | ||||||
23 |