93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB5753

 

Introduced 2/6/2004, by Michael J. Madigan

 

SYNOPSIS AS INTRODUCED:
 
40 ILCS 5/7-141   from Ch. 108 1/2, par. 7-141

    Amends the Illinois Pension Code. Makes a technical change in a Section concerning the Illinois Municipal Retirement Fund.


LRB093 17276 LRD 42942 b

PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB5753 LRB093 17276 LRD 42942 b

1     AN ACT in relation to pensions.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Illinois Pension Code is amended by changing
5 Section 7-141 as follows:
 
6     (40 ILCS 5/7-141)  (from Ch. 108 1/2, par. 7-141)
7     Sec. 7-141. Retirement annuities - Conditions. Retirement
8 annuities shall be payable as hereinafter set forth:
9     (a) A participating employee who, regardless of cause, is
10 separated from the service of all participating municipalities
11 and instrumentalities thereof and participating
12 instrumentalities shall be entitled to a retirement annuity
13 provided:
14         1. He is at least age 55, or in the case of a person who
15     is eligible to have his annuity calculated under Section
16     7-142.1, he is at least age 50;
17         2. He is (i) an employee who was employed by any
18     participating municipality or participating
19     instrumentality which had not elected to exclude persons
20     employed in positions normally requiring performance of
21     duty for less than 1000 hours per year or was employed in a
22     position normally requiring performance of duty for 600
23     hours or more per year prior to such election by any
24     participating municipality or participating
25     instrumentality included in and subject to this Article on
26     or before the effective date of this amendatory Act of 1981
27     which made such election and is not entitled to receive
28     earnings for employment in a position normally requiring
29     performance of duty for 600 hours or more per year for any
30     participating municipality and instrumentalities thereof
31     and participating instrumentality; or (ii) an employee who
32     was employed only by a participating municipality or

 

 

HB5753 - 2 - LRB093 17276 LRD 42942 b

1     participating instrumentality, or participating
2     municipalities or participating instrumentalities, which
3     have elected to exclude persons in positions normally
4     requiring performance of duty for less than 1000 hours per
5     year after the effective date of such exclusion or which
6     are included under and subject to the Article after the
7     effective date of this amendatory Act of 1981 and elects to
8     exclude persons in such positions, and is not entitled to
9     receive earnings for employment in a position normally
10     requiring performance of duty for 1000 hours or more per
11     year by such a participating municipality or participating
12     instrumentality;
13         3. The amount of his annuity, before the application of
14     paragraph (b) of Section 7-142 is at least $10 per month;
15         4. If he first became a participating employee after
16     December 31, 1961, he has at least 8 years of service. This
17     service requirement shall not apply to any participating
18     employee, regardless of participation date, if the General
19     Assembly terminates the Fund.
20     (b) Retirement annuities shall be payable:
21         1. As provided in Section 7-119;
22         2. Except as provided in item 3, upon receipt by the
23     fund of a written application. The effective date may be
24     not more than one year prior to the date of the receipt by
25     the fund of the application;
26         3. Upon attainment of age 70 1/2 if the member (i) is
27     no longer in service, and (ii) is otherwise entitled to an
28     annuity under this Article;
29         4. To the beneficiary of the deceased annuitant for the
30     unpaid amount accrued to date of death, if any.
31 (Source: P.A. 91-887, eff. 7-6-00.)