Illinois General Assembly - Bill Status for SB2024
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 Bill Status of SB2024  103rd General Assembly

Short Description:  PEN CD-TIER 2 BENEFITS

Senate Sponsors
Sen. Robert F. Martwick

Last Action
DateChamber Action
  2/9/2023SenateReferred to Assignments

Statutes Amended In Order of Appearance
40 ILCS 5/1-160
40 ILCS 5/7-114from Ch. 108 1/2, par. 7-114
40 ILCS 5/7-116from Ch. 108 1/2, par. 7-116
40 ILCS 5/7-141from Ch. 108 1/2, par. 7-141
40 ILCS 5/7-142from Ch. 108 1/2, par. 7-142
40 ILCS 5/15-111from Ch. 108 1/2, par. 15-111
40 ILCS 5/15-112from Ch. 108 1/2, par. 15-112
40 ILCS 5/15-135from Ch. 108 1/2, par. 15-135
40 ILCS 5/15-136from Ch. 108 1/2, par. 15-136
40 ILCS 5/15-198
40 ILCS 5/16-203
30 ILCS 805/8.47 new


Synopsis As Introduced
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.

Actions 
DateChamber Action
  2/9/2023SenateFiled with Secretary by Sen. Robert F. Martwick
  2/9/2023SenateFirst Reading
  2/9/2023SenateReferred to Assignments

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