Bill Status of HB 5211   103rd General Assembly

Short Description:  PEN CD-TIER 2 BENEFITS

House Sponsors
Rep. Stephanie A. Kifowit and Sue Scherer

Last Action  View All Actions

DateChamber Action
  4/19/2024HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
40 ILCS 5/1-103.4 new
40 ILCS 5/1-160
40 ILCS 5/1-163 new
40 ILCS 5/3-153 new
40 ILCS 5/4-145 new
40 ILCS 5/5-239 new
40 ILCS 5/6-231 new
40 ILCS 5/7-226 new
40 ILCS 5/8-251.5 new
40 ILCS 5/9-242 new
40 ILCS 5/10-110 new
40 ILCS 5/11-233 new
40 ILCS 5/12-196 new
40 ILCS 5/13-217 new
30 ILCS 805/8.48 new

Synopsis As Introduced
Amends the Illinois Pension Code. With respect to persons who, on or after January 1, 2011, become participants or members under the Downstate Police, Downstate Firefighter, Chicago Police, Chicago Firefighter, Illinois Municipal Retirement Fund (IMRF), Chicago Municipal, Cook County, Cook County Forest Preserve, Chicago Laborers, Chicago Park District, and Metropolitan Water Reclamation District (MWRD) Articles of the Code, provides that, beginning on January 1, 2025 for all purposes under the Code (including, without limitation, the calculation of benefits and employee contributions) the annual earnings, salary, or wages (based on the plan year) of a member or participant shall not exceed the Social Security wage base for the applicable plan year. Provides that a participant or member shall be entitled to a retirement annuity upon written application if he or she: (1) has attained age 62, has at least 35 years of service credit, and is otherwise eligible under the requirements of the applicable Article; (2) has attained age 64, has at least 20 years of service credit, and is otherwise eligible under the requirements of the applicable Article; or (3) has attained age 67, has at least 10 years of service credit, and is otherwise eligible under the requirements of the applicable Article. Provides for a reduced annuity for persons who retire before reaching a specified age. Provides that any retirement annuity or supplemental annuity shall be subject to annual increases on January 1 beginning with the January following the member's or participant's first annuity payment date. Provides that the annual increase shall be calculated at 3% of the originally granted retirement annuity. Provides that the changes do not apply to the extent that the changes would result in an impairment or diminishment of a pension benefit. Provides that the changes are intended to be retroactive to January 1, 2011. Makes conforming changes. Amends the State Mandates Act to require implementation without reimbursement.

Actions 
DateChamber Action
  2/8/2024HouseFiled with the Clerk by Rep. Stephanie A. Kifowit
  2/9/2024HouseFirst Reading
  2/9/2024HouseReferred to Rules Committee
  2/28/2024HouseAssigned to Personnel & Pensions Committee
  4/4/2024HouseDo Pass / Short Debate Personnel & Pensions Committee; 007-004-000
  4/4/2024HousePlaced on Calendar 2nd Reading - Short Debate
  4/17/2024HouseSecond Reading - Short Debate
  4/17/2024HouseHeld on Calendar Order of Second Reading - Short Debate
  4/19/2024HouseRule 19(a) / Re-referred to Rules Committee

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