103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB1644

 

Introduced 2/1/2023, by Rep. Blaine Wilhour

 

SYNOPSIS AS INTRODUCED:
 
40 ILCS 5/1-155 new
30 ILCS 805/8.47 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 10-year moving average of the annual unadjusted percentage increase in the consumer price index-u. 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.


LRB103 05239 RPS 50257 b

STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT
MAY APPLY

 

 

A BILL FOR

 

HB1644LRB103 05239 RPS 50257 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 10-year moving
23average of the annual unadjusted percentage increase in the

 

 

HB1644- 2 -LRB103 05239 RPS 50257 b

1consumer price index-u (but not less than zero).
2    (c) Notwithstanding Section 1-103.1, this Section applies
3without regard to whether a participant or member is in active
4service on or after the effective date of this amendatory Act
5of the 103rd General Assembly.
 
6    Section 90. The State Mandates Act is amended by adding
7Section 8.47 as follows:
 
8    (30 ILCS 805/8.47 new)
9    Sec. 8.47. Exempt mandate. Notwithstanding Sections 6 and
108 of this Act, no reimbursement by the State is required for
11the implementation of any mandate created by this amendatory
12Act of the 103rd General Assembly.
 
13    Section 99. Effective date. This Act takes effect upon
14becoming law.