Illinois Senate Bill 2024

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 9 2023 - 25% progression
Action: 2023-02-09 - Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Amends the General Provisions, Illinois Municipal Retirement Fund (IMRF), State Universities, and Downstate Teacher Articles of the Illinois Pension Code. With regard to Tier 2 members under the Downstate Teacher or State Universities Article and Tier 2 regular employees under the IMRF Article who are employees of an educational employer: makes changes to the age and service credit requirements for receiving an annuity; increases the amount of the automatic annual increases to retirement annuities; makes changes to the formula for calculating final average salary; and increases the limitation on the amount of salary that is used to calculate benefits. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

PEN CD-TIER 2 BENEFITS

Sen. Robert Martwick [D]

Date	Chamber	Action
2023-02-09	Senate	Referred to Assignments
2023-02-09	Senate	First Reading
2023-02-09	Senate	Filed with Secretary by Sen. Robert F. Martwick

Chapter	Article	Section	Citation Type	Statute Text
30	805	8.47	New Code	See Bill Text
40	5	1-160	Amended Code	Citation Text
40	5	15-111	Amended Code	Citation Text
40	5	15-112	Amended Code	Citation Text
40	5	15-135	Amended Code	Citation Text
40	5	15-136	Amended Code	Citation Text
40	5	15-198	Amended Code	Citation Text
40	5	16-203	Amended Code	Citation Text
40	5	7-114	Amended Code	Citation Text
40	5	7-116	Amended Code	Citation Text
40	5	7-141	Amended Code	Citation Text
40	5	7-142	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2024&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB2024.htm