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]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2024-02-06	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
House Amendment 001	2024-03-06	Proposed	HTML/Text	Link	View

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB4873 currently on file.