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IL SB3630
Bill
AI Summary
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Amends the Cook County Article of the Illinois Pension Code regarding disability benefits for county employees with 20 or more years of service.
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Extends eligibility for certain annuities to employees whose entire disability benefit credit period expires before age 62, if the member first became a participant on or after January 1, 2011 (previously the age threshold was 50, or 55 if expiration occurred before January 1, 1988).
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Allows qualifying disabled employees to receive either a minimum annuity computed as if they reached the specified age (50, 55, or 62 depending on circumstances), reduced to actuarial equivalent at their actual age, or their age and service annuity, whichever is greater.
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Modifies Section 9-160 to remove language limiting annuity eligibility to employees who withdraw before age 60, allowing broader access to annuity benefits after maximum disability benefit periods expire.
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Takes effect immediately upon becoming law.
Legislative Description
PEN CD-COOK CO-DISABILITY
Last Action
Session Sine Die
1/8/2013