Bill Status of HB 5265   103rd General Assembly

Short Description:  PEN CD-CHI POLICE&FIRE-TIER 2

House Sponsors
Rep. Stephanie A. Kifowit

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 5/5-167.1from Ch. 108 1/2, par. 5-167.1
40 ILCS 5/5-238
40 ILCS 5/6-164from Ch. 108 1/2, par. 6-164
40 ILCS 5/6-229
30 ILCS 805/8.48 new

Synopsis As Introduced
Amends the Chicago Police and Chicago Firefighter Articles of the Illinois Pension Code. Provides that the Tier 2 monthly retirement annuity shall be increased on the January 1 occurring either on or after (i) the attainment of age 55 (instead of age 60) or (ii) the first anniversary of the annuity start date, whichever is later. Provides that each annual increase shall be calculated at 3% (instead of 3% or one-half the annual unadjusted percentage increase in the consumer price index-u, whichever is less) of the originally granted retirement annuity. In a provision specifying an annuity reduction factor for each year a retiring Tier 2 policeman or fireman is under the age of 55, provides that the retirement annuity of a policeman or fireman who is retiring after attaining age 50 with 20 or more years of service shall not be reduced. Makes a conforming change. 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

Back To Top