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Public Act 91-0653
SB1020 Enrolled LRB9106091EGfg
AN ACT to amend the Illinois Pension Code by changing
Sections 18-125 and 18-133.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Pension Code is amended by
changing Sections 18-125 and 18-133 as follows:
(40 ILCS 5/18-125) (from Ch. 108 1/2, par. 18-125)
Sec. 18-125. Retirement annuity amount.
(a) The annual retirement annuity for a participant who
terminated service as a judge prior to July 1, 1971 shall be
based on the law in effect at the time of termination of
service.
(b) Effective July 1, 1971, the retirement annuity for
any participant in service on or after such date shall be 3
1/2% of final average salary, as defined in this Section, for
each of the first 10 years of service, and 5% of such final
average salary for each year of service on excess of 10.
For purposes of this Section, final average salary shall
be:
(1) the average salary for the last 4 years of
credited service as a judge for a participant who
terminates service before July 1, 1975.
(2) for a participant who terminates service after
June 30, 1975 and before July 1, 1982, the salary on the
last day of employment as a judge.
(3) for any participant who terminates service
after June 30, 1982 and before January 1, 1990, the
average salary for the final year of service as a judge.
(4) for a participant who terminates service on or
after January 1, 1990 but before the effective date of
this amendatory Act of 1995, the salary on the last day
of employment as a judge.
(5) for a participant who terminates service on or
after the effective date of this amendatory Act of 1995,
the salary on the last day of employment as a judge, or
the highest salary received by the participant for
employment as a judge in a position held by the
participant for at least 4 consecutive years, whichever
is greater.
However, in the case of a participant who elects to
discontinue contributions as provided in subdivision (a)(2)
of Section 18-133, the time of such election shall be
considered the last day of employment in the determination of
final average salary under this subsection.
The maximum retirement annuity for any participant shall
be 85% of final average salary.
(c) The retirement annuity for a participant who retires
prior to age 60 with less than 28 years of service in the
System shall be reduced 1/2 of 1% for each month that the
participant's age is under 60 years at the time the annuity
commences. However, for a participant who retires on or
after the effective date of this amendatory Act of the 91st
General Assembly, the percentage reduction in retirement
annuity imposed under this subsection shall be reduced by
5/12 of 1% for every month of service in this System in
excess of 20 years, and therefore a participant with at least
26 years of service in this System may retire at age 55
without any reduction in annuity.
The reduction in retirement annuity imposed by this
subsection shall not apply in the case of retirement on
account of disability.
(Source: P.A. 89-136, eff. 7-14-95.)
(40 ILCS 5/18-133) (from Ch. 108 1/2, par. 18-133)
Sec. 18-133. Financing; employee contributions.
(a) Effective July 1, 1967, each participant is required
to contribute 7 1/2% of each payment of salary toward the
retirement annuity. Such contributions shall continue during
the entire time the participant is in service, with the
following exceptions:
(1) Contributions for the retirement annuity are
not required on salary received after 18 years of service
by persons who were participants before January 2, 1954.
(2) A participant who continues to serve as a judge
after becoming eligible to receive the maximum rate of
annuity may elect, through a written direction filed with
the Board, to discontinue contributing to the System.
Any such option elected by a judge shall be irrevocable
unless prior to January 1, 2000 July 1, 1996, and while
continuing to serve as judge, the judge (A) files with
the Board a letter cancelling the direction to
discontinue contributing to the System and requesting
that such contributing resume, and (B) pays into the
System an amount equal to the total of the discontinued
contributions plus interest thereon at 5% per annum.
Service credits earned in any other "participating
system" as defined in Article 20 of this Code shall be
considered for purposes of determining a judge's
eligibility to discontinue contributions under this
subdivision (a)(2).
(3) A participant who (i) has attained age 60, (ii)
continues to serve as a judge after becoming eligible to
receive the maximum rate of annuity, and (iii) has not
elected to discontinue contributing to the System under
subdivision (a)(2) of this Section (or has revoked any
such election) may elect, through a written direction
filed with the Board, to make contributions to the System
based only on the amount of the increases in salary
received by the judge on or after the date of the
election, rather than the total salary received. If a
judge who is making contributions to the System on the
effective date of this amendatory Act of the 91st General
Assembly makes an election to limit contributions under
this subdivision (a)(3) within 90 days after that
effective date, the election shall be deemed to become
effective on that effective date and the judge shall be
entitled to receive a refund of any excess contributions
paid to the System during that 90-day period; any other
election under this subdivision (a)(3) becomes effective
on the first of the month following the date of the
election. An election to limit contributions under this
subdivision (a)(3) is irrevocable. Service credits
earned in any other participating system as defined in
Article 20 of this Code shall be considered for purposes
of determining a judge's eligibility to make an election
under this subdivision (a)(3).
(b) Beginning July 1, 1969, each participant is required
to contribute 1% of each payment of salary towards the
automatic increase in annuity provided in Section 18-125.1.
However, such contributions need not be made by any
participant who has elected prior to September 15, 1969, not
to be subject to the automatic increase in annuity
provisions.
(c) Effective July 13, 1953, each married participant
subject to the survivor's annuity provisions is required to
contribute 2 1/2% of each payment of salary, whether or not
he or she is required to make any other contributions under
this Section. Such contributions shall be made concurrently
with the contributions made for annuity purposes.
(Source: P.A. 89-136, eff. 7-14-95.)
Section 99. Effective date. This Act takes effect upon
becoming law.
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