SB 1115

Abstract

Amends the Illinois Pension Code. Makes a technical change in a Section concerning definitions. Senate Floor Amendment No. 1 Deletes reference to: 40 ILCS 5/1-101.1 Adds reference to: 40 ILCS 5/15-150 from Ch. 108 1/2, par. 15-150 40 ILCS 5/15-153 from Ch. 108 1/2, par. 15-153 40 ILCS 5/15-153.2 from Ch. 108 1/2, par. 15-153.2 40 ILCS 5/15-198 Replaces everything after the enacting clause. Amends the State Universities Article of the Illinois Pension Code. Provides that, in lieu of the amount of a disability benefit otherwise provided, for a participant who is employed as a police officer and who incurs a line of duty disability, the disability benefit shall be the greater of: (1) 65% of the basic compensation that would have been paid had the participant continued in employment for the entire period during which disability benefits are payable, excluding wage or salary increases subsequent to the date of disability; or (2) 65% of the participant's average earnings during the 24 months immediately preceding the month in which disability occurs. Provides for a disability retirement annuity for a participant who is employed as a police officer and who incurs a line of duty disability equal to 65% of the basic compensation which was payable to the participant at the time that disability began, provided that the board determines that the participant has a medically determinable physical or mental impairment that prevents him or her from engaging in any substantial gainful activity and can be expected to result in death or has lasted or can be expected to last for a continuous period of not less than 12 months. Provides that any benefit increase that results from the amendatory Act is excluded from the definition of "new benefit increase".