Bill Title: Amends the Chicago Firefighter Article of the Illinois Pension Code. Provides that any fireman born after December 31, 1954 but before January 1, 1966 shall be entitled to receive 3% automatic annual increases to his or her annuity. Provides that the automatic annual increase is not subject to the 30% maximum. Provides that the initial increase shall be in an amount equal to 3% for each complete year following the date of retirement or attainment of age 55, whichever occurs later. Provides that beginning January 1, 2017, the minimum widow's annuity and minimum retirement annuity payable to any person who has retired from service at age 50 or over with 20 or more years of service and is entitled to receive a retirement annuity under this Article on that date, or who retires from service at age 50 or over with 20 or more years of service after that date, shall be no less than 125% of the Federal Poverty Level. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced - Dead) 2016-01-28 - Referred to Assignments [SB2350 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2016-01-28	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB2350

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB2350 currently on file.