SB2678 103RD GENERAL ASSEMBLY

LRB103 35900 RPS 65985 b

103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
SB2678

Introduced 1/10/2024, by Sen. Meg Loughran Cappel

SYNOPSIS AS INTRODUCED:

40 ILCS 5/3-144.3 new
40 ILCS 5/4-138.15 new
40 ILCS 5/5-240 new
40 ILCS 5/6-235 new

Amends the Illinois Pension Code. Provides that the Retirement Systems Reciprocal Act (Article 20 of the Code) is adopted and made a part of the Downstate Police, Downstate Firefighter, Chicago Police, and Chicago Firefighter Articles, but only with respect to a person who, on or after the effective date of the amendatory Act, is entitled under those Articles or through a participating system under the Retirement Systems Reciprocal Act to begin receiving a retirement annuity or survivor's annuity and who elects to proceed under the Retirement Systems Reciprocal Act.

A BILL FOR

AN ACT concerning public employee benefits.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Pension Code is amended by adding Sections 3-144.3, 4-138.15, 5-240, and 6-235 as follows:

(40 ILCS 5/3-144.3 new)

Sec. 3-144.3. Retirement Systems Reciprocal Act. The Retirement Systems Reciprocal Act, Article 20 of this Code, is adopted and made a part of this Article, but only with respect to a person who, on or after the effective date of this amendatory Act of the 103rd General Assembly, is entitled under this Article or through a participating system under the Retirement Systems Reciprocal Act, as defined in Section 20-108, to begin receiving a retirement annuity or survivor's annuity (as those terms are defined in Article 20) and who elects to proceed under the Retirement Systems Reciprocal Act.

(40 ILCS 5/4-138.15 new)

Sec. 4-138.15. Retirement Systems Reciprocal Act. The Retirement Systems Reciprocal Act, Article 20 of this Code, is adopted and made a part of this Article, but only with respect to a person who, on or after the effective date of this amendatory Act of the 103rd General Assembly, is entitled under this Article or through a participating system under the Retirement Systems Reciprocal Act, as defined in Section 20-108, to begin receiving a retirement annuity or survivor's annuity (as those terms are defined in Article 20) and who elects to proceed under the Retirement Systems Reciprocal Act.

(40 ILCS 5/5-240 new)

Sec. 5-240. Retirement Systems Reciprocal Act. The Retirement Systems Reciprocal Act, Article 20 of this Code, is adopted and made a part of this Article, but only with respect to a person who, on or after the effective date of this amendatory Act of the 103rd General Assembly, is entitled under this Article or through a participating system under the Retirement Systems Reciprocal Act, as defined in Section 20-108, to begin receiving a retirement annuity or survivor's annuity (as those terms are defined in Article 20) and who elects to proceed under the Retirement Systems Reciprocal Act.

(40 ILCS 5/6-235 new)

Sec. 6-235. Retirement Systems Reciprocal Act. The Retirement Systems Reciprocal Act, Article 20 of this Code, is adopted and made a part of this Article, but only with respect to a person who, on or after the effective date of this amendatory Act of the 103rd General Assembly, is entitled under this Article or through a participating system under the Retirement Systems Reciprocal Act, as defined in Section 20-108, to begin receiving a retirement annuity or survivor's annuity (as those terms are defined in Article 20) and who elects to proceed under the Retirement Systems Reciprocal Act.