102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB2848

 

Introduced 2/19/2021, by Rep. Blaine Wilhour

 

SYNOPSIS AS INTRODUCED:
 
40 ILCS 5/1-155 new
30 ILCS 805/8.45 new

    Amends the General Provisions Article of the Illinois Pension Code. Provides that the retirement annuity or supplemental annuity for a participant, member, or annuitant in any pension fund or retirement system under the Code shall be subject to annual increases equal to the annual unadjusted percentage increase in the consumer price index-u for the 12 months ending with the September preceding each November 1. Provides that the changes apply without regard to whether the participant is in active service on or after the effective date of the amendatory Act. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.


LRB102 10865 RPS 16195 b

FISCAL NOTE ACT MAY APPLY
PENSION IMPACT NOTE ACT MAY APPLY
STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT

 

 

A BILL FOR

 

HB2848LRB102 10865 RPS 16195 b

1    AN ACT concerning public employee benefits.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Pension Code is amended by adding
5Section 1-155 as follows:
 
6    (40 ILCS 5/1-155 new)
7    Sec. 1-155. Calculation of annual increase in annuity.
8    (a) As used in this Section:
9    "Consumer price index-u" means the index published by the
10Bureau of Labor Statistics of the United States Department of
11Labor that measures the average change in prices of goods and
12services purchased by all urban consumers, United States city
13average, all items, 1982-84 = 100. The new amount resulting
14from each annual adjustment shall be determined by the Public
15Pension Division of the Department of Insurance and made
16available to the boards of the retirement systems and pension
17funds by November 1 of each year.
18    (b) Notwithstanding any other provision of this Code,
19including Sections 1-160 and 1-161, the retirement annuity or
20supplemental annuity for a participant, member, or annuitant
21in any pension fund or retirement system under this Code shall
22be subject to annual increases equal to the annual unadjusted
23percentage increase in the consumer price index-u (but not

 

 

HB2848- 2 -LRB102 10865 RPS 16195 b

1less than zero) for the 12 months ending with the September
2preceding each November 1.
3    (c) Notwithstanding Section 1-103.1, this Section applies
4without regard to whether a participant or member is in active
5service on or after the effective date of this amendatory Act
6of the 102nd General Assembly.
 
7    Section 90. The State Mandates Act is amended by adding
8Section 8.45 as follows:
 
9    (30 ILCS 805/8.45 new)
10    Sec. 8.45. Exempt mandate. Notwithstanding Sections 6 and
118 of this Act, no reimbursement by the State is required for
12the implementation of any mandate created by this amendatory
13Act of the 102nd General Assembly.
 
14    Section 99. Effective date. This Act takes effect upon
15becoming law.