Bill Title: Amends the General Provisions and State Employee Articles of the Illinois Pension Code. Provides that a security employee of the Department of Corrections or the Department of Juvenile Justice under the Tier 2 provisions is entitled to an annuity calculated under the alternative retirement formula, in lieu of the regular or minimum retirement annuity, only if the person has withdrawn from service with not less than 20 years of eligible creditable service and has attained age 55 (instead of age 60), regardless of whether the attainment of age 55 (instead of age 60) occurs while the person is still in service. Provides that any benefit increase that results from the amendatory Act is excluded from the definition of "new benefit increase". Effective immediately.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced) 2023-03-10 - Rule 19(a) / Re-referred to Rules Committee [HB2305 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Gregg Johnson [D]	Primary	Sponsored Bills	HD-072	FollowTheMoney	Ballotpedia	VoteSmart
Representative Michael Kelly [D]	Cosponsor	Sponsored Bills	HD-015	N/A	Ballotpedia	VoteSmart
Representative Matt Hanson [D]	Cosponsor	Sponsored Bills	HD-083	FollowTheMoney	Ballotpedia	VoteSmart

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