| |||||||||||||||||||||||||
| |||||||||||||||||||||||||
| |||||||||||||||||||||||||
| |||||||||||||||||||||||||
| |||||||||||||||||||||||||
| 1 | AN ACT concerning public employee benefits.
| ||||||||||||||||||||||||
| 2 | Be it enacted by the People of the State of Illinois,
| ||||||||||||||||||||||||
| 3 | represented in the General Assembly:
| ||||||||||||||||||||||||
| 4 | Section 5. The Illinois Pension Code is amended by changing | ||||||||||||||||||||||||
| 5 | Section 4-109 as follows:
| ||||||||||||||||||||||||
| 6 | (40 ILCS 5/4-109) (from Ch. 108 1/2, par. 4-109)
| ||||||||||||||||||||||||
| 7 | Sec. 4-109. Pension.
| ||||||||||||||||||||||||
| 8 | (a) A firefighter age 50 or more with 20 or more years of | ||||||||||||||||||||||||
| 9 | creditable
service, who is no longer in service as a | ||||||||||||||||||||||||
| 10 | firefighter, shall receive a monthly
pension of 1/2 the
the | ||||||||||||||||||||||||
| 11 | monthly salary attached to the rank held by him or her in
the | ||||||||||||||||||||||||
| 12 | fire service at the date of retirement. | ||||||||||||||||||||||||
| 13 | The monthly pension shall be increased by 1/12 of 2.5% of | ||||||||||||||||||||||||
| 14 | such
monthly salary for each additional month over 20 years of | ||||||||||||||||||||||||
| 15 | service through 30
years of service, to a maximum of 75% of | ||||||||||||||||||||||||
| 16 | such monthly salary.
| ||||||||||||||||||||||||
| 17 | The changes made to this subsection (a) by this amendatory | ||||||||||||||||||||||||
| 18 | Act of the
91st General Assembly apply to all pensions that | ||||||||||||||||||||||||
| 19 | become payable under this
subsection on or after January 1, | ||||||||||||||||||||||||
| 20 | 1999. All pensions payable under this
subsection that began on | ||||||||||||||||||||||||
| 21 | or after January 1, 1999 and before the effective date
of this | ||||||||||||||||||||||||
| 22 | amendatory Act shall be recalculated, and the amount of the | ||||||||||||||||||||||||
| 23 | increase
accruing for that period shall be payable to the | ||||||||||||||||||||||||
| |||||||
| |||||||
| 1 | pensioner in a lump sum.
| ||||||
| 2 | (b) A firefighter who retires or is separated from service | ||||||
| 3 | having at
least 10 but less than 20 years of creditable | ||||||
| 4 | service, who is not entitled
to receive a disability pension, | ||||||
| 5 | and who did not apply for a refund of
contributions at his or | ||||||
| 6 | her last separation from service shall receive a
monthly | ||||||
| 7 | pension upon attainment of age 60 based on the monthly salary | ||||||
| 8 | attached
to his or her rank in the fire service on the date of | ||||||
| 9 | retirement or separation
from service according to the | ||||||
| 10 | following schedule:
| ||||||
| 11 | For 10 years of service, 15% of salary;
| ||||||
| 12 | For 11 years of service, 17.6% of salary;
| ||||||
| 13 | For 12 years of service, 20.4% of salary;
| ||||||
| 14 | For 13 years of service, 23.4% of salary;
| ||||||
| 15 | For 14 years of service, 26.6% of salary;
| ||||||
| 16 | For 15 years of service, 30% of salary;
| ||||||
| 17 | For 16 years of service, 33.6% of salary;
| ||||||
| 18 | For 17 years of service, 37.4% of salary;
| ||||||
| 19 | For 18 years of service, 41.4% of salary;
| ||||||
| 20 | For 19 years of service, 45.6% of salary.
| ||||||
| 21 | (c) Notwithstanding any other provision of this Article,
| ||||||
| 22 | the provisions of this subsection (c) apply to a person who | ||||||
| 23 | first
becomes a firefighter under this Article on or after | ||||||
| 24 | January 1, 2011. | ||||||
| 25 | A firefighter age 55 or more who has 10 or more years of | ||||||
| 26 | service in that capacity shall be entitled at his option to | ||||||
| |||||||
| |||||||
| 1 | receive a monthly pension for his service as a firefighter | ||||||
| 2 | computed by multiplying 2.5% for each year of such service by | ||||||
| 3 | his or her final average salary. | ||||||
| 4 | The pension of a firefighter who is retiring after | ||||||
| 5 | attaining age 50 with 10 or more years of creditable service | ||||||
| 6 | shall be reduced by one-half of 1% for each month that the | ||||||
| 7 | firefighter's age is under age 55. | ||||||
| 8 | The maximum pension under this subsection (c) shall be 75%
| ||||||
| 9 | of final average salary. | ||||||
| 10 | For the purposes of this subsection (c), "final average | ||||||
| 11 | salary" means the average monthly salary obtained by dividing | ||||||
| 12 | the total salary of the firefighter during the 96 consecutive | ||||||
| 13 | months of service within the last 120 months of service in | ||||||
| 14 | which the total salary was the highest by the number of months | ||||||
| 15 | of service in that period. | ||||||
| 16 | Beginning on January 1, 2011, for all purposes under
this | ||||||
| 17 | Code (including without limitation the calculation of
benefits | ||||||
| 18 | and employee contributions), the annual salary
based on the | ||||||
| 19 | plan year of a member or participant to whom this Section | ||||||
| 20 | applies shall not exceed $106,800; however, that amount shall | ||||||
| 21 | annually thereafter be increased by the lesser of (i) 3% of | ||||||
| 22 | that amount, including all previous adjustments, or (ii) | ||||||
| 23 | one-half the annual unadjusted percentage increase (but not | ||||||
| 24 | less than zero) in the consumer price index-u for the 12 months | ||||||
| 25 | ending with the September preceding each November 1, including | ||||||
| 26 | all previous adjustments. | ||||||
| |||||||
| |||||||
| 1 | (Source: P.A. 96-1495, eff. 1-1-11.)
| ||||||