SB0603 EnrolledLRB102 10824 RPS 16154 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
5changing Sections 6-124, 6-124.1, and 6-158 as follows:
6    (40 ILCS 5/6-124)  (from Ch. 108 1/2, par. 6-124)
7    Sec. 6-124. Future entrants; amount entrants-age 63 in
8service-amount of annuity. When a future entrant attains age
963 in service, except for a fireman who is not subject to the
10compulsory retirement age, his age and service annuity shall
11be fixed as of age 63. The annuity shall be that provided from
12the entire sum accumulated to his credit for age and service
13annuity on the date he attains age 63.
14    When a future entrant who is not subject to the compulsory
15retirement age withdraws from service and is at least age 63,
16his or her age and service annuity shall be fixed as of the age
17he or she withdraws from service. The annuity shall be that
18provided from the entire sum accumulated to his or her credit
19for age and service annuity on the date he or she withdraws
20from service.
21(Source: P.A. 76-1668.)
22    (40 ILCS 5/6-124.1)



SB0603 Enrolled- 2 -LRB102 10824 RPS 16154 b

1    Sec. 6-124.1. Withdrawal from service; amount at
2compulsory retirement age - amount of annuity.
3    (a) In lieu of any annuity provided in the other
4provisions of this Article, a fireman who (1) is required to
5withdraw from service due to attainment of compulsory
6retirement age, or is not subject to compulsory retirement
7age, withdraws from service, and is at least age 63, and (2)
8has at least 10 but less than 20 years of service credit may
9elect to receive an annuity equal to 30% of average salary for
10the first 10 years of service plus 2% of average salary for
11each completed year of service or remaining fraction thereof
12in excess of 10, but not to exceed a maximum of 50% of average
14    (b) For the purpose of this Section, "average salary"
15means the average of the fireman's highest 4 consecutive years
16of salary within the last 10 years of service.
17    (c) For the purpose of qualifying for the annual increases
18provided in Section 6-164, a fireman whose retirement annuity
19is calculated under this Section shall be deemed to qualify
20for a minimum annuity.
21(Source: P.A. 93-654, eff. 1-16-04.)
22    (40 ILCS 5/6-158)  (from Ch. 108 1/2, par. 6-158)
23    Sec. 6-158. Refund Refund - General.
24    (a) A fireman who withdraws before age 50 and a fireman
25with less than 10 years of service who withdraws before age 57,



SB0603 Enrolled- 3 -LRB102 10824 RPS 16154 b

1or any fireman who withdraws and enters the service of another
2department of the city, has a right to a refund of the entire
3amount to his credit as of the date of withdrawal for age and
4service annuity or Tier 2 monthly retirement annuity, for
5automatic annual increase in annuity as provided in Section
66-164, and for widow's annuity or Tier 2 surviving spouse's
7annuity, from deductions from salary.
8    (b) Any such fireman shall be entitled to refund until he
9re-enters service or until his annuity is fixed.
10    (c) A fireman who receives a refund forfeits all rights to
11any annuity or benefit from the fund, for himself and for any
12other person who might benefit through him because of his
13service, provided he shall retain the right to credit for any
14such service, for the purpose of computing his total service
15if he re-enters service before age 57, becomes a beneficiary
16of the fund and makes repayment of the refund with interest.
17    (d) A fireman completing 10 years of service who does not
18receive a refund, may receive an annuity as provided in this
20    (e) A fireman completing less than 10 years who does not
21receive a refund has a right to have all amounts to his credit
22for annuity purposes on the date of withdrawal improved by
23interest while he is out of service until age 57 only, for his
24benefit and the benefit of any person who may have any right to
25annuity through him, if he subsequently reenters service and
26attains a right to annuity.



SB0603 Enrolled- 4 -LRB102 10824 RPS 16154 b

1(Source: P.A. 99-905, eff. 11-29-16.)
2    Section 90. The State Mandates Act is amended by adding
3Section 8.45 as follows:
4    (30 ILCS 805/8.45 new)
5    Sec. 8.45. Exempt mandate. Notwithstanding Sections 6 and
68 of this Act, no reimbursement by the State is required for
7the implementation of any mandate created by this amendatory
8Act of the 102nd General Assembly.
9    Section 99. Effective date. This Act takes effect upon
10becoming law.