Full Text of HB4000 96th General Assembly
HB4000 96TH GENERAL ASSEMBLY
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96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010 HB4000
Introduced 2/26/2009, by Rep. Michael P. McAuliffe SYNOPSIS AS INTRODUCED: |
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40 ILCS 5/5-132 | from Ch. 108 1/2, par. 5-132 |
30 ILCS 805/8.33 new |
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Amends the Chicago Police Article of the Illinois Pension Code. Increases the retirement formula. Bases the annuity on final salary (or salary during the last year of service, if greater), rather than on the average of the 4 highest years of service during the last 10. Increases the accrual rate from 2.5% to 5% of that salary for years in excess of 20. Increases the maximum annuity from 75% to 80% of that salary. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
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FISCAL NOTE ACT MAY APPLY |
PENSION IMPACT NOTE ACT MAY APPLY |
STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT |
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A BILL FOR
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HB4000 |
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LRB096 10722 AMC 20906 b |
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| AN ACT concerning 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 changing | 5 |
| Section 5-132 as follows:
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| (40 ILCS 5/5-132)
(from Ch. 108 1/2, par. 5-132)
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| Sec. 5-132. Minimum annuity. Any policeman who withdraws on | 8 |
| or after
July 8, 1957, or any policeman
transferred to the | 9 |
| police service of the city under the Exchange of
Functions Act | 10 |
| of 1957 who withdraws on or after July 17, 1959, after
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| completing at least 20 years of service, for whom the
annuity | 12 |
| otherwise provided in this Article is less than that stated in | 13 |
| this
Section has a right to receive annuity as follows:
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| (a) If he is age 55 or more on withdrawal, his annuity | 15 |
| after such
withdrawal, shall be equal to 2% of the average | 16 |
| salary for 4 consecutive
years of highest salaries within the | 17 |
| last 10 years of service before
withdrawal, for each year of | 18 |
| service, together with 1/6 of 1% of such
average salary for | 19 |
| each complete month of service of each fractional year,
but not | 20 |
| in excess of 75% of the average annual salary.
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| (b) If he is age 50 or more but less than age 55 on | 22 |
| withdrawal, his
annuity shall be equal to 2% of the average | 23 |
| salary for the 4 highest
consecutive years of the last 10 years |
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HB4000 |
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LRB096 10722 AMC 20906 b |
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| of service for each year of service,
together with 1/16 of 1% | 2 |
| of such average salary for each month of each
fractional year | 3 |
| of service, reduced by 1/2 of 1% for each month that he is
less | 4 |
| than age 55.
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| (c) If he is less than age 50 on withdrawal, he may, upon | 6 |
| attainment of
age 50 or over, become entitled to the annuity | 7 |
| provided in this Section or,
he may, upon application before | 8 |
| age 50, receive a refund of the deductions
from salary, plus | 9 |
| interest at 1 1/2% per annum if he is entitled to refund
under | 10 |
| Section 5-163.
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| (d) In lieu of the annuity provided in the foregoing | 12 |
| provisions of this
Section 5-132 any policeman who withdraws | 13 |
| from the service after December
31, 1973, after having attained | 14 |
| age 53 in the service with
23 or more years of service credit | 15 |
| shall be entitled to an
annuity computed as follows if such | 16 |
| annuity is greater than that provided
in the foregoing | 17 |
| paragraphs of this Section 5-132: An annuity equal to
50% of | 18 |
| the average salary for the 4
highest consecutive years of the | 19 |
| last 10 years of service plus
additional annuity equal to 2% of | 20 |
| such average salary for each completed
year of service or | 21 |
| fraction
thereof rendered after his attainment of age 53 and | 22 |
| the completion
of 23 years of service.
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| Any policeman who has completed 23 years of service prior | 24 |
| to
his attainment of age 53 in the service and continues in the
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| service until his attainment of age 53 shall have added to his
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| annuity, computed as provided in the immediately preceding |
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HB4000 |
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LRB096 10722 AMC 20906 b |
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| paragraph, an
additional annuity equal to 1% of such average | 2 |
| salary for each
completed year of service or fraction thereof | 3 |
| in excess of 23
years up to age 53.
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| (e) In lieu of the annuity provided in the foregoing | 5 |
| provisions of this
Section any policeman who withdraws from the | 6 |
| service either (i) after
December 31, 1983 with at least 22 | 7 |
| years of service credit and having
attained age 52 in the | 8 |
| service, or (ii) after December 31, 1984 with at
least 21 years | 9 |
| of service credit and having attained age 51 in the service,
or | 10 |
| (iii) after December 31, 1985 with at least 20 years of service | 11 |
| credit
and having attained age 50 in the service, or (iv) after | 12 |
| December 31,
1990, with at least 20 years of service credit | 13 |
| regardless of age, shall
be entitled to an annuity to begin not | 14 |
| earlier than upon attainment of
age 50 if under such age at | 15 |
| withdrawal, computed as follows: an annuity
equal to 50% of the | 16 |
| average salary for the 4 highest consecutive years of the
last | 17 |
| 10 years of service, plus additional annuity equal to 2% of | 18 |
| such average
salary for each completed year of service or | 19 |
| fraction thereof rendered after
his completion of the minimum | 20 |
| number of years of service required for him to be
eligible | 21 |
| under this subsection (e). | 22 |
| In lieu of any annuity provided in the
foregoing provisions | 23 |
| of this Section, any policeman who withdraws from the
service | 24 |
| after December 31, 2003, with at least 20 years of service | 25 |
| credit
regardless of age, shall be entitled to an annuity to | 26 |
| begin not earlier than
upon attainment of age 50, if under that |
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HB4000 |
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LRB096 10722 AMC 20906 b |
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| age at withdrawal, equal to 2.5% of
the average salary for the | 2 |
| 4 highest consecutive years of the last 10 years of
service for | 3 |
| each completed year of service or fraction thereof. However,
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| the annuity provided under this subsection (e) may not exceed | 5 |
| 75% of such
average salary.
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| (e-1) In lieu of the annuity provided in the foregoing | 7 |
| provisions of this
Section, any policeman who withdraws from | 8 |
| the service after December 31, 2009 with at least 20 years of | 9 |
| service credit, regardless of age, shall be entitled to an | 10 |
| annuity to begin not earlier than upon attainment of age 50 if | 11 |
| under that age at withdrawal, computed as follows: an annuity | 12 |
| equal to 50% of the salary attached to the rank held on the | 13 |
| last day of service or for one year prior to the last day, | 14 |
| whichever is greater, plus additional annuity equal to 5% of | 15 |
| that salary for each completed year of service or fraction | 16 |
| thereof in excess of 20, subject to a maximum of 80%
of that | 17 |
| salary.
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| (f) A policeman withdrawing after September 1, 1969, may, | 19 |
| in addition, be
entitled to the benefits provided by Section | 20 |
| 5-167.1 of this Article if he
so qualifies under that Section.
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| If, on withdrawal, total service is less than 20 years, the | 22 |
| policeman
shall not be entitled to an annuity under this | 23 |
| Section but may receive an
annuity under the other provisions | 24 |
| of this Article or, if entitled thereto
under Section 5--163, a | 25 |
| refund of the deductions from salary, including, in
the case of | 26 |
| policemen transferred to the police service of the city under
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LRB096 10722 AMC 20906 b |
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| the Exchange of Functions Act of 1957, the additional | 2 |
| contribution paid on
salary received from August 1, 1957, to | 3 |
| July 17, 1959, as provided in the
Park Policemen's Annuity Act, | 4 |
| together with interest at 1 1/2% per annum.
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| Moneys voluntarily contributed under the Policemen's | 6 |
| Annuity and Benefit
Fund Act of the Illinois Municipal Code, or | 7 |
| the Park Policemen's Annuity
Act, shall be refunded to the | 8 |
| contributing policemen who were in service on
January 1, 1954, | 9 |
| or in the case of policemen transferred to the police
service | 10 |
| of the city under the Exchange of Functions Act of 1957, who | 11 |
| were
in service on July 17, 1959.
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| The age and service annuity formula in this Section shall | 13 |
| not apply to
any policeman who, having retired before July 8, | 14 |
| 1957, or before July 17,
1959, in the case of a policeman | 15 |
| transferred under the provisions of the
Exchange of Functions | 16 |
| Act of 1957, re-enters the police service after such
dates, | 17 |
| whichever are applicable.
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| (Source: P.A. 93-654, eff. 1-16-04.)
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| Section 90. The State Mandates Act is amended by adding | 20 |
| Section 8.33 as follows: | 21 |
| (30 ILCS 805/8.33 new) | 22 |
| Sec. 8.33. Exempt mandate. Notwithstanding Sections 6 and 8 | 23 |
| of this Act, no reimbursement by the State is required for the | 24 |
| implementation of any mandate created by this amendatory Act of |
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HB4000 |
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LRB096 10722 AMC 20906 b |
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| the 96th General Assembly.
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| Section 99. Effective date. This Act takes effect upon | 3 |
| becoming law.
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