Bill Text: IL HB2848 | 2021-2022 | 102nd General Assembly | Introduced

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Bill Title: Amends the General Provisions Article of the Illinois Pension Code. Provides that the retirement annuity or supplemental annuity for a participant, member, or annuitant in any pension fund or retirement system under the Code shall be subject to annual increases equal to the annual unadjusted percentage increase in the consumer price index-u for the 12 months ending with the September preceding each November 1. Provides that the changes apply without regard to whether the participant is in active service on or after the effective date of the amendatory Act. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2022-02-18 - Rule 19(a) / Re-referred to Rules Committee [HB2848 Detail]

Download: Illinois-2021-HB2848-Introduced.html

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102ND GENERAL ASSEMBLY State of Illinois 2021 and 2022 HB2848 Introduced , by Rep. Blaine Wilhour SYNOPSIS AS INTRODUCED:
40 ILCS 5/1-155 new
30 ILCS 805/8.45 new
Amends the General Provisions Article of the Illinois Pension Code. Provides that the retirement annuity or supplemental annuity for a participant, member, or annuitant in any pension fund or retirement system under the Code shall be subject to annual increases equal to the annual unadjusted percentage increase in the consumer price index-u for the 12 months ending with the September preceding each November 1. Provides that the changes apply without regard to whether the participant is in active service on or after the effective date of the amendatory Act. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
LRB102 10865 RPS 16195 b
FISCAL NOTE ACT MAY APPLY PENSION IMPACT NOTE ACT MAY APPLY STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT
A BILL FOR
HB2848 LRB102 10865 RPS 16195 b
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
Section 1-155 as follows:
(40 ILCS 5/1-155 new)
Sec. 1-155. Calculation of annual increase in annuity.
(a) As used in this Section:
"Consumer price index-u" means the index published by the
Bureau of Labor Statistics of the United States Department of
Labor that measures the average change in prices of goods and
services purchased by all urban consumers, United States city
average, all items, 1982-84 = 100. The new amount resulting
from each annual adjustment shall be determined by the Public
Pension Division of the Department of Insurance and made
available to the boards of the retirement systems and pension
funds by November 1 of each year.
(b) Notwithstanding any other provision of this Code,
including Sections 1-160 and 1-161, the retirement annuity or
supplemental annuity for a participant, member, or annuitant
in any pension fund or retirement system under this Code shall
be subject to annual increases equal to the annual unadjusted
percentage increase in the consumer price index-u (but not

HB2848 - 2 - LRB102 10865 RPS 16195 b
less than zero) for the 12 months ending with the September
preceding each November 1.
(c) Notwithstanding Section 1-103.1, this Section applies
without regard to whether a participant or member is in active
service on or after the effective date of this amendatory Act
of the 102nd General Assembly.
Section 90. The State Mandates Act is amended by adding
Section 8.45 as follows:
(30 ILCS 805/8.45 new)
Sec. 8.45. Exempt mandate. Notwithstanding Sections 6 and
8 of this Act, no reimbursement by the State is required for
the implementation of any mandate created by this amendatory
Act of the 102nd General Assembly.
Section 99. Effective date. This Act takes effect upon
becoming law.