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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB5608
Introduced , by Rep. John A. Fritchey SYNOPSIS AS INTRODUCED:
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40 ILCS 5/6-164.3 new |
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30 ILCS 805/8.32 new |
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Amends the Chicago Firefighter Article of the Illinois Pension Code. Provides for noncompounded 3% automatic annual increases in all widow's annuities (other than term annuities). Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
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| FISCAL NOTE ACT MAY APPLY |
PENSION IMPACT NOTE ACT MAY APPLY |
STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT |
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A BILL FOR
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HB5608 |
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LRB095 18211 AMC 44295 b |
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| AN ACT concerning public employee benefits.
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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 adding |
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| Section 6-164.3 as follows:
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| (40 ILCS 5/6-164.3 new)
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| Sec. 6-164.3. Automatic annual increase in widow's |
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| annuity. |
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| (a) Every widow's annuity, other than a term annuity, shall |
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| be increased
on January 1, 2009 or the January 1 occurring on |
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| or immediately after the first
anniversary of the deceased |
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| fireman's death, whichever occurs later, and on each subsequent |
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| January 1, by an
amount equal to 3% of the original amount of |
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| the annuity. |
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| (b) Limitations on the maximum amount of widow's annuity |
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| imposed under
this Article do not apply to the annual increases |
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| provided under this Section.
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| (c) The increases provided under this Section do apply to |
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| minimum widow's annuities. The
increases provided under this |
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| Section do not apply to term annuities.
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| Section 90. The State Mandates Act is amended by adding |
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| Section 8.32 as follows:
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