IL HB3297 | 2023-2024 | 103rd General Assembly

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 17 2023 - 25% progression
Action: 2023-03-10 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the General Provisions and State Employee Articles of the Illinois Pension Code. Provides that a security employee of the Department of Human Services subject to the Tier 2 provisions is entitled to an annuity calculated under the alternative retirement annuity provisions, in lieu of the regular or minimum retirement annuity, only if the person has withdrawn from service with not less than 20 years of eligible creditable service and has attained age 55, regardless of whether the attainment of age 55 occurs while the person is still in service. Provides that a security employee of the Department of Human Services subject to the Tier 2 provisions may convert up to 9 years of service credit established before the effective date of the amendatory Act as a security employee of the Department of Human Services under the State Employee Article into eligible creditable service by filing a written election with the Board under that Article, accompanied by a specified payment. Excludes a benefit increase resulting from the amendatory Act from the definition of "new benefit increase". Effective January 1, 2024.

Tracking Information

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Title

PEN CD-SERS-ALTERNATE ANNUITY

Sponsors


History

DateChamberAction
2023-03-10HouseRule 19(a) / Re-referred to Rules Committee
2023-02-28HouseAssigned to Personnel & Pensions Committee
2023-02-17HouseReferred to Rules Committee
2023-02-17HouseFirst Reading
2023-02-17HouseFiled with the Clerk by Rep. Anna Moeller

Code Citations

ChapterArticleSectionCitation TypeStatute Text
4051-160Amended CodeCitation Text
40514-110Amended CodeCitation Text
40514-152.1Amended CodeCitation Text

Illinois State Sources


Bill Comments

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