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93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB5750
Introduced 2/6/2004, by Michael J. Madigan SYNOPSIS AS INTRODUCED:
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40 ILCS 5/14-126 |
from Ch. 108 1/2, par. 14-126 |
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Amends the State Employee Article of the Illinois Pension Code. Changes
the caption to the Section on retirement annuity following nonoccupational
disability benefits.
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| PENSION IMPACT NOTE ACT MAY APPLY | |
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A BILL FOR
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HB5750 |
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LRB093 17267 LRD 42933 b |
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| AN ACT in relation to pensions.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Illinois Pension Code is amended by changing |
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| Section
14-126 as follows:
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| (40 ILCS 5/14-126) (from Ch. 108 1/2, par. 14-126)
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| Sec. 14-126. Retirement annuity following nonoccupational |
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| disability
benefit -Rights on expiration -Retirement annuity |
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| option on re-entry.
Any member having 15 or more years of |
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| creditable
service, and having attained at least age 55, or |
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| having 20 or more years
of creditable service and having |
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| attained at least age 50, who, after receiving
nonoccupational |
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| disability benefit for the maximum period of time specified
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| herein is still disabled for service, shall be entitled to |
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| receive a retirement
annuity beginning the first of the month |
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| following application, without
regard to whether the member has |
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| attained age 60.
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| If a member having 15 but less than 20 years of creditable |
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| service is under
age 55 when nonoccupational disability |
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| benefits terminate, and the member
has been continuously |
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| disabled for service, the member is entitled upon
application |
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| to the retirement annuity upon the first of the month after
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| attainment of age 55.
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| If a member having 20 or more years of creditable service |
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| is under age
50 when nonoccupational disability benefits |
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| terminate, and the member has
been continuously disabled for |
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| service, the member is entitled upon application
to the |
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| retirement annuity beginning upon the first of the month after
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| attainment of age 50.
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| As an option to the computation of a retirement annuity in |
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| the manner
provided
in this Article, if a person who retires on |
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| a retirement annuity prior to
age 60 under the provisions of |