Bill Status of HB 2910   101st General Assembly

Short Description:  PEN CD-TRS & SURS-EARLY RETIRE

House Sponsors
Rep. Robert Martwick

Last Action  View All Actions

DateChamber Action
  1/13/2021HouseSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/15-136from Ch. 108 1/2, par. 15-136
40 ILCS 5/15-136.4
40 ILCS 5/15-136.5 new
40 ILCS 5/15-145from Ch. 108 1/2, par. 15-145
40 ILCS 5/15-185.5
40 ILCS 5/15-185.6
40 ILCS 5/15-198
40 ILCS 5/16-133.1from Ch. 108 1/2, par. 16-133.1
40 ILCS 5/16-133.6 new
40 ILCS 5/16-143.1from Ch. 108 1/2, par. 16-143.1
40 ILCS 5/16-190.5
40 ILCS 5/16-190.6
40 ILCS 5/16-203

Synopsis As Introduced
Amends the State Universities and Downstate Teacher Articles of the Illinois Pension Code. Provides that a Tier 1 member who is at least 55 years of age and meets other specified requirements may elect to receive an age enhancement and additional creditable service in an amount equal to the applicable minimum age for an undiscounted retirement annuity (based on the amount of creditable service the member has on the effective date of the election) minus the member's actual age on the effective date of the election and additional creditable service equal to the amount of the age enhancement. Provides that the amount of the age enhancement and creditable service granted may not exceed 5 years. Provides that a member who elects the age enhancement and additional creditable service shall have any automatic annual increase in his or her retirement annuity and survivor's annuity payable to his or her beneficiary calculated at 3% or the annual unadjusted percentage increase (but not less than zero) in the consumer price index-u, whichever is less, of the originally granted annuity. Provides that any benefit increase that results from the amendatory Act is excluded from the definition of "new benefit increase". Makes conforming changes. Effective immediately.

Actions 
DateChamber Action
  2/14/2019HouseFiled with the Clerk by Rep. Robert Martwick
  2/14/2019HouseFirst Reading
  2/14/2019HouseReferred to Rules Committee
  2/26/2019HouseAssigned to Personnel & Pensions Committee
  3/6/2019HouseTo Pension Reform Subcommittee
  3/29/2019HouseRule 19(a) / Re-referred to Rules Committee
  1/13/2021HouseSession Sine Die

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