Comments: IL SB3612 | 2019-2020 | 101st General Assembly

Illinois Senate Bill 3612 (Prior Session Legislation)

Bill Title: Amends the Chicago Police and Chicago Firefighter Articles of the Illinois Pension Code. Removes a birthdate restriction on eligibility at age 55 for a 3% automatic annual increase in retirement annuity that is not subject to a maximum increase of 30%. Provides that for Tier 2 policemen and firemen, "final average salary" is the average monthly salary: (i) obtained by dividing the total salary during the 96 consecutive months of service within the last 120 months of service in which the total salary was the highest; or (ii) obtained by dividing the total salary during the 48 consecutive months of service within the last 120 months of service in which the total salary was the highest. Provides that the Tier 2 limit on salary shall annually be increased by the lesser of 3% or the annual (instead of one-half of the annual) unadjusted percentage increase in the consumer price index-u. Provides that the surviving spouse's annuity for certain Tier 2 policemen and firemen shall be 54% of the monthly salary at the time of death. Provides that if the deceased policeman or fireman was a parent of a child and there is a surviving spouse, 12% of the monthly salary at the date of death or 12% of the earned pension shall be granted to the guardian of the minor child. Provides that upon the death of the surviving spouse leaving one or more children under the age of 18, or upon the death of a policeman or fireman leaving one or more children under the age of 18 but no surviving spouse, a monthly pension of 20% of the monthly salary at the date of death or 20% of the earned pension shall be granted to the guardian of each such child. Makes other changes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2021-01-13 - Session Sine Die [SB3612 Detail]

Text: Latest bill text (Introduced) [HTML]