IL HB5265 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 8 2024 - 25% progression
Action: 2024-04-19 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 8 2024 - 25% progression
Action: 2024-04-19 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Chicago Police and Chicago Firefighter Articles of the Illinois Pension Code. Provides that the Tier 2 monthly retirement annuity shall be increased on the January 1 occurring either on or after (i) the attainment of age 55 (instead of age 60) or (ii) the first anniversary of the annuity start date, whichever is later. Provides that each annual increase shall be calculated at 3% (instead of 3% or one-half the annual unadjusted percentage increase in the consumer price index-u, whichever is less) of the originally granted retirement annuity. In a provision specifying an annuity reduction factor for each year a retiring Tier 2 policeman or fireman is under the age of 55, provides that the retirement annuity of a policeman or fireman who is retiring after attaining age 50 with 20 or more years of service shall not be reduced. Makes a conforming change. Amends the State Mandates Act to require implementation without reimbursement.
Title
PEN CD-CHI POLICE&FIRE-TIER 2
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2024-04-19 | House | Rule 19(a) / Re-referred to Rules Committee |
| 2024-04-17 | House | Held on Calendar Order of Second Reading - Short Debate |
| 2024-04-17 | House | Second Reading - Short Debate |
| 2024-04-04 | House | Placed on Calendar 2nd Reading - Short Debate |
| 2024-04-04 | House | Do Pass / Short Debate Personnel & Pensions Committee; 007-004-000 |
| 2024-02-28 | House | Assigned to Personnel & Pensions Committee |
| 2024-02-09 | House | Referred to Rules Committee |
| 2024-02-09 | House | First Reading |
| 2024-02-08 | House | Filed with the Clerk by Rep. Stephanie A. Kifowit |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 30 | 805 | 8.48 | New Code | See Bill Text |
| 40 | 5 | 5-167.1 | Amended Code | Citation Text |
| 40 | 5 | 5-238 | Amended Code | Citation Text |
| 40 | 5 | 6-164 | Amended Code | Citation Text |
| 40 | 5 | 6-229 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5265&GAID=17&DocTypeID=HB&SessionID=112&GA=103 |
| Text | https://www.ilga.gov/legislation/103/HB/10300HB5265.htm |
