Illinois SB 2826: MUNI CD-FIRE PROTECT DIST-EXAM

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 Senate Amendment 001 
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SB2826 EnrolledLRB104 17390 RPS 30815 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 7-141, 7-166, and 7-174 as follows:

6 (40 ILCS 5/7-141) (from Ch. 108 1/2, par. 7-141)

7 Sec. 7-141. Retirement annuities; conditions. Retirement 

8annuities shall be payable as hereinafter set forth:

9 (a) A participating employee who, regardless of cause, is 

10separated from the service of the all participating 

11municipalities and instrumentalities thereof and participating 

12instrumentalities from which the participating employee is 

13seeking to retire shall be entitled to a retirement annuity 

14provided:

15 1. He is at least age 55 if he is a Tier 1 regular 

16 employee, he is age 62 if he is a Tier 2 regular employee, 

17 or, in the case of a person who is eligible to have his 

18 annuity calculated under Section 7-142.1, he is at least 

19 age 50;

20 2. He is not entitled to receive earnings for 

21 employment in a position requiring him, or entitling him 

22 to elect, to be a participating employee as defined in 

23 Section 7-137 or under subsection (a) of Section 7-144;

SB2826 Enrolled- 2 -LRB104 17390 RPS 30815 b

1 3. The amount of his annuity, before the application 

2 of paragraph (b) of Section 7-142 is at least $10 per 

3 month;

4 4. If he first became a participating employee after 

5 December 31, 1961 and is a Tier 1 regular employee, he has 

6 at least 8 years of service, or, if he is a Tier 2 regular 

7 member