[ Search ] [ Legislation ] [ Bill Summary ]
[ Home ] [ Back ] [ Bottom ]
90_HB0929
40 ILCS 5/9-146.2 new
30 ILCS 805/8.21 new
Amends the Cook County Article of the Pension Code.
Provides for a compounded 3% annual increase in widow's
annuities. Amends the State Mandates Act to require
implementation without reimbursement. Effective immediately.
LRB9004279EGfg
LRB9004279EGfg
1 AN ACT to amend the Illinois Pension Code by adding
2 Section 9-146.2 and to amend the State Mandates Act.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Pension Code is amended by adding
6 Section 9-146.2 as follows:
7 (40 ILCS 5/9-146.2 new)
8 Sec. 9-146.2. Automatic annual increase in widow's
9 annuity.
10 (a) Every widow's annuity, other than a term annuity,
11 shall be increased by an amount equal to 3% of the amount of
12 the annuity on January 1, 1998 or the January 1 occurring on
13 or immediately after the first anniversary of the deceased
14 employee's death, whichever occurs later.
15 On each January 1 after the date of the initial increase
16 under this Section, the widow's annuity shall be increased by
17 an amount equal to 3% of the amount of widow's annuity
18 payable at the time of the increase, including any increases
19 previously granted under this Article.
20 (b) Limitations on the maximum amount of widow's annuity
21 imposed under Section 9-150 do not apply to the annual
22 increases provided under this Section.
23 (c) The increases provided under this Section also apply
24 to compensation annuities and supplemental annuities payable
25 under Section 9-147. The increases provided under this
26 Section do not apply to term annuities.
27 Section 95. The State Mandates Act is amended by adding
28 Section 8.21 as follows:
29 (30 ILCS 805/8.21 new)
-2- LRB9004279EGfg
1 Sec. 8.21. Exempt mandate. Notwithstanding Sections 6
2 and 8 of this Act, no reimbursement by the State is required
3 for the implementation of any mandate created by this
4 amendatory Act of 1997.
5 Section 99. Effective date. This Act takes effect upon
6 becoming law.