SB 3403

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Full Text of SB3403
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	SB3403 - 104th General Assembly
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		SB3403 Enrolled		LRB104 19237 RPS 32683 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 4-110 and 22A-115 as follows:
6    (40 ILCS 5/4-110)  (from Ch. 108 1/2, par. 4-110)
7    Sec. 4-110. Disability pension; line [pension - Line] of
8duty. If a firefighter, as the result of sickness, accident or
9injury incurred in or resulting from the performance of an act
10of duty or from the cumulative effects of acts of duty, is
11found, pursuant to Section 4-112, to be physically or mentally
12permanently disabled for service in the fire department, so as
13to render necessary his or her being placed on disability
14pension, the firefighter shall be entitled to a disability
15pension equal to the greater of (1) 65% of the monthly salary
16attached to the rank held by him or her in the fire department
17at the date he or she is removed from the municipality's fire
18department payroll or (2) the retirement pension that the
19firefighter would be eligible to receive if he or she retired
20(but not including any automatic annual increase in that
21retirement pension). A firefighter shall be considered "on
22duty" while on any assignment approved by the chief of the fire
23department, even though away from the municipality he or she
		SB3403 Enrolled	- 2 -	LRB104 19237 RPS 32683 b
1serves as a firefighter, if the assignment is related to the
2fire protection service of the municipality.
3    Such firefighter shall also be entitled to a child's
4disability benefit of $20 a month on account of each unmarried
5child less than 18 years of age and dependent upon the
6firefighter for support, either the issue of the firefighter
7or legally adopted by him or her. The total amount of child's
8disability benefit payable to the firefighter, when added to
9his or her disability pension, shall not exceed 75% of the
10amount of salary which the firefighter was receiving at the
11date of retirement.
12    Benefits payable on account of a child under this Section
13shall not be reduced or terminated by reason of the child's
14attainment of age 18 if he or she is then dependent by reason
15of a physical or mental disability but shall continue to be
16paid as long as such dependency continues. Individuals over
17the age of 18 and adjudged to be disabled persons pursuant to
18Article XIa of the Probate Act of 1975, except for persons
19receiving benefits under Article III of the Illinois Public
20Aid Code, shall be eligible to receive benefits under this
21Act.
22    If a firefighter dies while still disabled and receiving a
23disability pension under this Section, the disability pension
24shall continue to be paid to the firefighter's survivors in
25the sequence provided in Section 4-114.
26    The disability pension under this Section that continues 
		SB3403 Enrolled	- 3 -	LRB104 19237 RPS 32683 b
1to be paid to the firefighter's survivors shall be increased 
2to $50,051.76 and adjusted by a simple 3% increase annually 
3from the initial adjustment if all of the following conditions 
4are met:
5        (1) the firefighter died in 2023;
6        (2) the firefighter died less than 6 months before his 
7    or her 60th birthday; and
8        (3) by no later than one year after the effective date 
9    of this amendatory Act of the 104th General Assembly, the 
10    board of trustees of the fire protection district adopted 
11    an ordinance or resolution granting the increase.
12    A pension previously granted under Section 4-114 to a
13survivor of a firefighter who died while receiving a
14disability pension under this Section shall be deemed to be a
15continuation of the pension provided under this Section and
16shall be deemed to be in the nature of worker's compensation
17payments. The changes to this Section made by this amendatory
18Act of 1995 are intended to be retroactive and are not limited
19to persons in service on or after its effective date.
20(Source: P.A. 93-1090, eff. 3-11-05.)
21    (40 ILCS 5/22A-115)  (from Ch. 108 1/2, par. 22A-115)
22    Sec. 22A-115. Audits and reports. At least annually, the
23books, records, accounts and securities of the board shall be
24audited by a certified public accountant designated by the
25Auditor General of the State. The audit opinion shall be
		SB3403 Enrolled	- 4 -	LRB104 19237 RPS 32683 b
1published as a part of the annual report of the board.
2    For the quarterly periods ending September 30, December
331, and March 31, the board shall submit to each pension fund,
4retirement system or education fund under its jurisdiction a
5report embracing, among other things, the following
6information: (a) a full description of the investments
7acquired, showing average costs; (b) a full description of the
8securities sold or exchanged, showing average proceeds or
9other conditions of an exchange; (c) gains or losses realized
10during the period; (d) income from investments; (e)
11administrative expenses of the board; and (f) the proportion
12of administrative expenses allocable to each pension fund,
13retirement system or education fund.
14    An annual report shall be prepared by the board for
15submission to each pension fund, retirement system or
16education fund under its jurisdiction within 6 months after
17the close of each fiscal year, except that the board shall not 
18be considered in violation of this provision if the board has 
19not received the audit opinion required pursuant to this 
20Section by December 15. A fiscal year shall date from July 1 of
21one year to June 30 of the year next following. This report
22shall embody full information concerning the results of
23investment operations of the board for the year, including the
24foregoing information and, in addition thereto, the following:
25    (a) a listing of the investments held by the board as at
26the end of the year showing their book values and market values
		SB3403 Enrolled	- 5 -	LRB104 19237 RPS 32683 b
1and their income yields on market values;
2    (b) the amounts as determined under paragraph (a) above
3allocable to each pension fund or education fund managed by
4the board;
5    (c) comments on the pertinent factors affecting the
6operations of the board for the year;
7    (d) a review of the policies maintained by the board and
8any changes therein that occurred during the year;
9    (e) a copy of the audited financial statements for the
10year;
11    (f) recommendations for possible changes in the law
12governing the operations of the board; and
13    (g) a listing of the names of securities brokers and
14dealers dealt with during the year showing the total amount of
15commissions received by each on transactions with the board.
16(Source: P.A. 84-1127.)
17    Section 90. The State Mandates Act is amended by adding
18Section 8.50 as follows:
19    (30 ILCS 805/8.50 new)
20    Sec. 8.50. Exempt mandate. Notwithstanding Sections 6 and 
218 of this Act, no reimbursement by the State is required for 
22the implementation of any mandate created by this amendatory 
23Act of the 104th General Assembly.
24    Section 99. Effective date. This Act takes effect upon
		SB3403 Enrolled	- 6 -	LRB104 19237 RPS 32683 b
1becoming law.