IL SB2024 | 2023-2024 | 103rd General Assembly

Status

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]

Summary

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.

Tracking Information

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Title

PEN CD-TIER 2 BENEFITS

Sponsors


History

DateChamberAction
2023-02-09SenateReferred to Assignments
2023-02-09SenateFirst Reading
2023-02-09SenateFiled with Secretary by Sen. Robert F. Martwick

Code Citations

ChapterArticleSectionCitation TypeStatute Text
308058.47New CodeSee Bill Text
4051-160Amended CodeCitation Text
40515-111Amended CodeCitation Text
40515-112Amended CodeCitation Text
40515-135Amended CodeCitation Text
40515-136Amended CodeCitation Text
40515-198Amended CodeCitation Text
40516-203Amended CodeCitation Text
4057-114Amended CodeCitation Text
4057-116Amended CodeCitation Text
4057-141Amended CodeCitation Text
4057-142Amended CodeCitation Text

Illinois State Sources


Bill Comments

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