Illinois Senate Bill 2025

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 9 2023 - 25% progression
Action: 2023-02-09 - Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Amends the General Provisions and State Employee Articles of the Illinois Pension Code. Provides that a security employee of the Department of Human Services subject to the Tier 2 provisions is entitled to an annuity calculated under the alternative retirement annuity provisions, in lieu of the regular or minimum retirement annuity, only if the person has withdrawn from service with not less than 20 years of eligible creditable service and has attained age 55, regardless of whether the attainment of age 55 occurs while the person is still in service. Provides that a security employee of the Department of Human Services subject to the Tier 2 provisions may convert up to 9 years of service credit established before the effective date of the amendatory Act as a security employee of the Department of Human Services under the State Employee Article into eligible creditable service by filing a written election with the Board under that Article, accompanied by a specified payment. Excludes a benefit increase resulting from the amendatory Act from the definition of "new benefit increase". Effective January 1, 2024.

PEN CD-SERS-ALTERNATE ANNUITY

Sen. Cristina Castro [D]

Date	Chamber	Action
2023-02-09	Senate	Referred to Assignments
2023-02-09	Senate	First Reading
2023-02-09	Senate	Filed with Secretary by Sen. Cristina Castro

Chapter	Article	Section	Citation Type	Statute Text
40	5	1-160	Amended Code	Citation Text
40	5	14-110	Amended Code	Citation Text
40	5	14-152.1	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2025&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB2025.htm