Bill Text: IL SB2821 | 2015-2016 | 99th General Assembly | Introduced
Bill Title: Amends the Chicago Firefighter Article of the Illinois Pension Code. In a Section relating to a person who first becomes a fireman on or after January 1, 2011: (1) deletes provisions specifying the amount of annuity for a surviving child or parent; (2) provides for payment of a specified survivor's annuity to the surviving spouse of an active fireman with at least 10 years of actual service; and (3) provides for payment of a minimum widow's annuity to every surviving spouse, regardless of whether the deceased fireman was in service or had less than 10 years of actual service. Specifies that the changes relating to the newly defined annuities apply without regard to whether the death of the deceased fireman may have occurred prior to the effective date. Effective immediately.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2016-04-22 - Rule 3-9(a) / Re-referred to Assignments [SB2821 Detail]
Download: Illinois-2015-SB2821-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 changing | ||||||||||||||||||||||||
5 | Section 6-229 as follows:
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6 | (40 ILCS 5/6-229) | ||||||||||||||||||||||||
7 | Sec. 6-229. Provisions applicable to new hires. | ||||||||||||||||||||||||
8 | (a) Notwithstanding any other provision of this Article,
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9 | the provisions of this Section apply to a person who first
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10 | becomes a fireman under this Article on or after January 1, | ||||||||||||||||||||||||
11 | 2011. | ||||||||||||||||||||||||
12 | (b) A fireman age 55 or more who has 10 or more years of | ||||||||||||||||||||||||
13 | service in that capacity shall be entitled at his option to | ||||||||||||||||||||||||
14 | receive a monthly retirement annuity for his service as a | ||||||||||||||||||||||||
15 | fireman computed by multiplying 2.5% for each year of such | ||||||||||||||||||||||||
16 | service by his or her final average salary. | ||||||||||||||||||||||||
17 | The retirement annuity of a fireman who is retiring after | ||||||||||||||||||||||||
18 | attaining age 50 with 10 or more years of creditable service | ||||||||||||||||||||||||
19 | shall be reduced by one-half of 1% for each month that the | ||||||||||||||||||||||||
20 | fireman's age is under age 55. | ||||||||||||||||||||||||
21 | The maximum retirement annuity under this subsection (b) | ||||||||||||||||||||||||
22 | shall be 75%
of final average salary. | ||||||||||||||||||||||||
23 | For the purposes of this subsection (b), "final average |
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1 | salary" means the average monthly salary obtained by dividing | ||||||
2 | the total salary of the fireman during the 96 consecutive | ||||||
3 | months of service within the last 120 months of service in | ||||||
4 | which the total salary was the highest by the number of months | ||||||
5 | of service in that period. | ||||||
6 | Beginning on January 1, 2011, for all purposes under
this | ||||||
7 | Code (including without limitation the calculation of
benefits | ||||||
8 | and employee contributions), the annual salary
based on the | ||||||
9 | plan year of a member or participant to whom this Section | ||||||
10 | applies shall not exceed $106,800; however, that amount shall | ||||||
11 | annually thereafter be increased by the lesser of (i) 3% of | ||||||
12 | that amount, including all previous adjustments, or (ii) | ||||||
13 | one-half the annual unadjusted percentage increase (but not | ||||||
14 | less than zero) in the consumer price index-u for the 12 months | ||||||
15 | ending with the September preceding each November 1, including | ||||||
16 | all previous adjustments. | ||||||
17 | (c) Subject to subsection (d), but notwithstanding | ||||||
18 | Notwithstanding any other provision of this Article, for a | ||||||
19 | person who first becomes a fireman under this Article on or | ||||||
20 | after January 1, 2011, the annuity to which the surviving | ||||||
21 | spouse is , children, or parents are entitled under this | ||||||
22 | subsection (c) shall be in the amount of 66 2/3% of the | ||||||
23 | fireman's retirement annuity earned pension at the date of the | ||||||
24 | fireman's death. | ||||||
25 | Notwithstanding any other provision of this Article, the | ||||||
26 | monthly annuity
of a surviving spouse survivor of a person who |
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1 | first becomes a fireman under this Article on or after January | ||||||
2 | 1, 2011 shall be increased on the January 1 after attainment of | ||||||
3 | age 60 by the recipient of the survivor's pension and
each | ||||||
4 | January 1 thereafter by 3% or one-half the annual unadjusted | ||||||
5 | percentage increase in the consumer price index-u for the
12 | ||||||
6 | months ending with September preceding each November 1, | ||||||
7 | whichever is less, of the originally granted survivor's | ||||||
8 | annuity. If the annual unadjusted percentage change in
the | ||||||
9 | consumer price index-u for a 12-month period ending in | ||||||
10 | September is zero or, when compared with the preceding period, | ||||||
11 | decreases, then the annuity shall not
be increased.
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12 | (d) Notwithstanding the provisions of subsection (c) of | ||||||
13 | this Section: | ||||||
14 | (1) Any surviving spouse of a deceased fireman shall be | ||||||
15 | paid an amount no less than the amount of the minimum | ||||||
16 | widow's annuity, as provided for in Section 6-128.4. | ||||||
17 | (2) If the deceased fireman was an active fireman at | ||||||
18 | the time of his or her death and had completed at least 10 | ||||||
19 | years of creditable service, the surviving spouse shall be | ||||||
20 | entitled to an amount equal to 66 2/3% of the retirement | ||||||
21 | annuity that the deceased fireman would have been eligible | ||||||
22 | to receive under subsection (b) of this Section, based upon | ||||||
23 | the actual service accrued through the day before the | ||||||
24 | fireman's death and as if the fireman had attained age 55 | ||||||
25 | on the day before his or her death and retired on that day. | ||||||
26 | Notwithstanding any other provision of this Article, the |
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1 | monthly annuity provided for in this subsection (d) of a | ||||||
2 | surviving spouse of a person who first becomes a fireman under | ||||||
3 | this Article on or after January 1, 2011 shall be increased on | ||||||
4 | the January 1 after attainment of age 60 by the recipient of | ||||||
5 | the survivor's annuity and on each January 1 thereafter by 3% | ||||||
6 | or one-half the annual unadjusted percentage increase in the | ||||||
7 | consumer price index-u for the 12 months ending with September | ||||||
8 | preceding each November 1, whichever is less, of the originally | ||||||
9 | granted survivor's annuity. If the annual unadjusted | ||||||
10 | percentage change in the consumer price index-u for a 12-month | ||||||
11 | period ending in September is zero or, when compared with the | ||||||
12 | preceding period, decreases, then the annuity shall not be | ||||||
13 | increased. | ||||||
14 | The provisions of this subsection (d) apply without regard | ||||||
15 | to whether the death of the deceased fireman may have occurred | ||||||
16 | prior to the effective date of this amendatory Act of the 99th | ||||||
17 | General Assembly. | ||||||
18 | (e) For the purposes of Section 1-103.1 of this Code, the
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19 | changes to this Section made by this amendatory Act of the 99th
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20 | General Assembly apply without regard to whether the fireman
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21 | was in service on or after the effective date of this
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22 | amendatory Act. | ||||||
23 | (Source: P.A. 96-1495, eff. 1-1-11.)
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24 | Section 99. Effective date. This Act takes effect upon | ||||||
25 | becoming law.
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