Bill Title: Reinserts the provisions of the introduced bill with the following changes. In provisions establishing a deferred retirement option plan for members under the State Employees, State Universities, Downstate Teachers, and Chicago Teachers Articles, provides that the applicable pension fund or retirement system (rather than the State Treasurer) shall administer and implement the deferred retirement option plan. Further amends the Illinois Pension Code. In the Downstate Police, Downstate Firefighter, Chicago Police, and Chicago Firefighter Articles, provides that, on and after January 1, 2026, each annual increase to a Tier 2 retirement pension shall be calculated at 3% of the originally granted pension. Effective July 1, 2025.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2025-01-07 - Session Sine Die [HB4873 Detail]

Text: Latest bill text (Introduced) [HTML]

---

PolitiCorps Conversations

Start PolitiCorps Debate

Title	PolitiCorps	Access	Comments	Views	Last Post
There are no visible public or private PolitiCorps discussions concerning the 2023 Illinois HB4873 at this time.