95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB1513


 
Introduced 2/9/2007, by Sen. Kwame Raoul
 
SYNOPSIS AS INTRODUCED:
 		













40 ILCS 5/5-136.2 new





30 ILCS 805/8.31 new











    Amends the Chicago Police Article of the Illinois Pension Code.
Provides a compounded 3% annual increase in surviving spouse annuities.
Amends the State Mandates Act to require implementation without reimbursement.
Effective immediately.
















LRB095 06692 AMC 26804 b

















FISCAL NOTE ACT MAY APPLY


PENSION IMPACT NOTE ACT MAY APPLY


STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT
















 


 


A BILL FOR









 









SB1513

LRB095 06692 AMC 26804 b






1
    AN ACT in relation to 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 5-136.2
as follows:


 
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    (40 ILCS 5/5-136.2 new)

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    Sec. 5-136.2. Annual increase in widow's annuity.
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    (a) Except as provided in subsection (c), each widow's 
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annuity payable
under this Article shall be increased by 3% of 
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the original fixed amount of
the annuity on the later of (1) 
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January 1, 2008, or (2) the January 1 occurring
on or next 
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following the first anniversary of the granting of the annuity.

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On each January 1 following the initial increase under this 
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subsection,
each widow's annuity payable under this Article 
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shall be increased by an amount
equal to 3% of the current 
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amount of the annuity, including any previous
increases under 
17
this Section.

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    (b) The limitations on the maximum amount of widow's 
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annuity imposed under
Section 5-148 and the provisions of this 
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Article on fixation of the amount of
widow's annuity do not 
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apply to the annual increases provided under this
Section.  The 
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increases provided under this Section apply without regard to

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whether or not the deceased employee was in service on or after 
 


 






SB1513
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LRB095 06692 AMC 26804 b




1
the effective
date of this amendatory Act of the 95th General 
2
Assembly.

3
    (c) The increases provided in this Section do apply to a 
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compensation or
supplemental annuity under Section 5-144.

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    The increases provided in this Section do not apply to a 
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reversionary or
term annuity.



 
7
    Section 90. The State Mandates Act is amended by adding 
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Section 8.31 as follows:
 
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    (30 ILCS 805/8.31 new)
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    Sec. 8.31. Exempt mandate. Notwithstanding Sections 6 and 8 
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of this Act, no reimbursement by the State is required for the 
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implementation of any mandate created by this amendatory Act of 
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the 95th General Assembly.
 
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    Section 99. Effective date. This Act takes effect upon 
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becoming law.