Illinois General Assembly - Bill Status for SB1573
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 Bill Status of SB1573  102nd General Assembly


Short Description:  PEN CD-CHI POL-ANNUAL INCREASE

Senate Sponsors
Sen. Robert F. Martwick

Last Action
DateChamber Action
  2/26/2021SenateReferred to Assignments

Statutes Amended In Order of Appearance
40 ILCS 5/5-167.1from Ch. 108 1/2, par. 5-167.1
30 ILCS 805/8.45 new


Synopsis As Introduced
Amends the Chicago Police Article 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%. Makes a related change. Specifies the timing of an initial increase in retirement annuity for persons who have not received the initial increase before January 1, 2021. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions 
DateChamber Action
  2/26/2021SenateFiled with Secretary by Sen. Robert F. Martwick
  2/26/2021SenateFirst Reading
  2/26/2021SenateReferred to Assignments

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