Bill Text: IL SB1872 | 2011-2012 | 97th General Assembly | Introduced
Bill Title: Amends the Chicago Police Article of the Illinois Pension Code. Provides that the amount of the annuity of a widow of a policeman who first became a participant of the fund before January 1, 2011 and the annual increases in that annuity shall be equal to the annuity and annual increases provided for the widow of a policeman who first became a participant of the fund on or after that date.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2013-01-08 - Session Sine Die [SB1872 Detail]
Download: Illinois-2011-SB1872-Introduced.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,
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3 | represented in the General Assembly:
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4 | Section 5. The Illinois Pension Code is amended by adding | ||||||||||||||||||||||||
5 | Section 5-136.2 as follows:
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6 | (40 ILCS 5/5-136.2 new) | ||||||||||||||||||||||||
7 | Sec. 5-136.2. Parity of widows' annuities. | ||||||||||||||||||||||||
8 | (a) Notwithstanding any other provision of this Article, | ||||||||||||||||||||||||
9 | for a widow of a policeman who first became a participant of | ||||||||||||||||||||||||
10 | the fund before January 1, 2011, the annuity to which the widow | ||||||||||||||||||||||||
11 | is entitled shall be in the amount of
66 2/3% of the | ||||||||||||||||||||||||
12 | policeman's earned annuity at the date of death. The provisions | ||||||||||||||||||||||||
13 | of this Section apply without regard to whether the policeman | ||||||||||||||||||||||||
14 | is in service on its effective date. In the case of a person | ||||||||||||||||||||||||
15 | who is receiving a widows' annuity on the effective date of | ||||||||||||||||||||||||
16 | this amendatory Act of the 97th General Assembly, the annuity | ||||||||||||||||||||||||
17 | shall be recalculated to reflect, (i) the changes made by this | ||||||||||||||||||||||||
18 | Section in the amount of the original annuity and (ii) any | ||||||||||||||||||||||||
19 | annual increases that the annuitant is entitled to under this | ||||||||||||||||||||||||
20 | Act, and the resulting increase shall become payable on the | ||||||||||||||||||||||||
21 | next annuity payment date. | ||||||||||||||||||||||||
22 | (b) Notwithstanding any other provision of this Article, | ||||||||||||||||||||||||
23 | the
monthly annuity of a widow of a person who first became a
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1 | policeman under this Article before January 1, 2011 shall
be | ||||||
2 | increased on January 1, 2013 or the January 1 after attainment | ||||||
3 | of age 60 by the
recipient of the survivor's annuity, whichever | ||||||
4 | occurs later, and each January 1
thereafter by 3% or one-half | ||||||
5 | the annual unadjusted percentage
increase (but not less than | ||||||
6 | zero) in the consumer price index-u
for the 12 months ending | ||||||
7 | with the September preceding each
November 1, whichever is | ||||||
8 | less, of the originally granted
annuity. If the annual | ||||||
9 | unadjusted percentage change in the
consumer price index-u for | ||||||
10 | a 12-month period ending in
September is zero or, when compared | ||||||
11 | with the preceding period,
decreases, then the annuity shall | ||||||
12 | not be increased. | ||||||
13 | (c) For the purposes of this Section, "consumer price
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14 | index-u" means the index published by the Bureau of Labor
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15 | Statistics of the United States Department of Labor that
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16 | measures the average change in prices of goods and services
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17 | purchased by all urban consumers, United States city average,
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18 | all items, 1982-84 = 100. The new amount resulting from each
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19 | annual adjustment shall be determined by the Public Pension
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20 | Division of the Department of Insurance and made available to
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21 | the boards of the pension funds.
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