HB4508 EngrossedLRB103 36501 RPS 66607 b HB4508 Engrossed LRB103 36501 RPS 66607 b
HB4508 Engrossed LRB103 36501 RPS 66607 b
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
5 changing Sections 15-135 and 15-198 as follows:
6 (40 ILCS 5/15-135) (from Ch. 108 1/2, par. 15-135)
7 Sec. 15-135. Retirement annuities; conditions.
8 (a) This subsection (a) applies only to a Tier 1 member. A
9 participant who retires in one of the following specified
10 years with the specified amount of service is entitled to a
11 retirement annuity at any age under the retirement program
12 applicable to the participant:
13 35 years if retirement is in 1997 or before;
14 34 years if retirement is in 1998;
15 33 years if retirement is in 1999;
16 32 years if retirement is in 2000;
17 31 years if retirement is in 2001;
18 30 years if retirement is in 2002 or later.
19 A participant with 8 or more years of service after
20 September 1, 1941, is entitled to a retirement annuity on or
21 after attainment of age 55.
22 A participant with at least 5 but less than 8 years of
23 service after September 1, 1941, is entitled to a retirement
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1 annuity on or after attainment of age 62.
2 A participant who has at least 25 years of service in this
3 system as a police officer or firefighter is entitled to a
4 retirement annuity on or after the attainment of age 50, if
5 Rule 4 of Section 15-136 is applicable to the participant.
6 (a-5) A Tier 2 member is entitled to a retirement annuity
7 upon written application if he or she has attained age 67 and
8 has at least 10 years of service credit and is otherwise
9 eligible under the requirements of this Article. A Tier 2
10 member who has attained age 62 and has at least 10 years of
11 service credit and is otherwise eligible under the
12 requirements of this Article may elect to receive the lower
13 retirement annuity provided in subsection (b-5) of Section
14 15-136 of this Article.
15 (a-10) A Tier 2 member who has at least 20 years of service
16 in this system as a police officer or firefighter is entitled
17 to a retirement annuity upon written application on or after
18 the attainment of age 60 if Rule 4 of Section 15-136 is
19 applicable to the participant. A Tier 2 member who has at least
20 20 years of service in this system as a police officer is
21 entitled to a retirement annuity upon written application on
22 or after the attainment of age 55 if Rule 4 of Section 15-136
23 is applicable to the participant. The changes made to this
24 subsection by this amendatory Act of the 101st General
25 Assembly apply retroactively to January 1, 2011.
26 (b) The annuity payment period shall begin on the date
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1 specified by the participant or the recipient of a disability
2 retirement annuity submitting a written application. For a
3 participant, the date on which the annuity payment period
4 begins shall not be prior to termination of employment or more
5 than one year before the application is received by the board;
6 however, if the participant is not an employee of an employer
7 participating in this System or in a participating system as
8 defined in Article 20 of this Code on April 1 of the calendar
9 year next following the calendar year in which the participant
10 attains the age specified under Section 401(a)(9) of the
11 Internal Revenue Code of 1986, as amended, the annuity payment
12 period shall begin on that date regardless of whether an
13 application has been filed. For a recipient of a disability
14 retirement annuity, the date on which the annuity payment
15 period begins shall not be prior to the discontinuation of the
16 disability retirement annuity under Section 15-153.2.
17 (c) An annuity is not payable if the amount provided under
18 Section 15-136 is less than $10 per month.
19 (Source: P.A. 101-610, eff. 1-1-20; 102-210, eff. 7-30-21.)
20 (40 ILCS 5/15-198)
21 Sec. 15-198. Application and expiration of new benefit
22 increases.
23 (a) As used in this Section, "new benefit increase" means
24 an increase in the amount of any benefit provided under this
25 Article, or an expansion of the conditions of eligibility for
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1 any benefit under this Article, that results from an amendment
2 to this Code that takes effect after June 1, 2005 (the
3 effective date of Public Act 94-4). "New benefit increase",
4 however, does not include any benefit increase resulting from
5 the changes made to Article 1 or this Article by Public Act
6 100-23, Public Act 100-587, Public Act 100-769, Public Act
7 101-10, Public Act 101-610, Public Act 102-16, Public Act
8 103-80, Public Act 103-548, or this amendatory Act of the
9 103rd General Assembly or this amendatory Act of the 103rd
10 General Assembly.
11 (b) Notwithstanding any other provision of this Code or
12 any subsequent amendment to this Code, every new benefit
13 increase is subject to this Section and shall be deemed to be
14 granted only in conformance with and contingent upon
15 compliance with the provisions of this Section.
16 (c) The Public Act enacting a new benefit increase must
17 identify and provide for payment to the System of additional
18 funding at least sufficient to fund the resulting annual
19 increase in cost to the System as it accrues.
20 Every new benefit increase is contingent upon the General
21 Assembly providing the additional funding required under this
22 subsection. The Commission on Government Forecasting and
23 Accountability shall analyze whether adequate additional
24 funding has been provided for the new benefit increase and
25 shall report its analysis to the Public Pension Division of
26 the Department of Insurance. A new benefit increase created by
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1 a Public Act that does not include the additional funding
2 required under this subsection is null and void. If the Public
3 Pension Division determines that the additional funding
4 provided for a new benefit increase under this subsection is
5 or has become inadequate, it may so certify to the Governor and
6 the State Comptroller and, in the absence of corrective action
7 by the General Assembly, the new benefit increase shall expire
8 at the end of the fiscal year in which the certification is
9 made.
10 (d) Every new benefit increase shall expire 5 years after
11 its effective date or on such earlier date as may be specified
12 in the language enacting the new benefit increase or provided
13 under subsection (c). This does not prevent the General
14 Assembly from extending or re-creating a new benefit increase
15 by law.
16 (e) Except as otherwise provided in the language creating
17 the new benefit increase, a new benefit increase that expires
18 under this Section continues to apply to persons who applied
19 and qualified for the affected benefit while the new benefit
20 increase was in effect and to the affected beneficiaries and
21 alternate payees of such persons, but does not apply to any
22 other person, including, without limitation, a person who
23 continues in service after the expiration date and did not
24 apply and qualify for the affected benefit while the new
25 benefit increase was in effect.
26 (Source: P.A. 102-16, eff. 6-17-21; 103-80, eff. 6-9-23;
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1 103-548, eff. 8-11-23; revised 8-31-23.)
2 Section 90. The State Mandates Act is amended by adding
3 Section 8.48 as follows:
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