Illinois General Assembly - Bill Status for HB3519
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 Bill Status of HB3519  103rd General Assembly


Short Description:  PEN CD-TIER 2-VARIOUS

House Sponsors
Rep. Stephanie A. Kifowit

Last Action
DateChamber Action
  1/31/2024HouseAssigned to Personnel & Pensions 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 5/7-226 new
40 ILCS 5/8-251.5 new
40 ILCS 5/9-242 new
40 ILCS 5/14-152.1
40 ILCS 5/14-157 new
40 ILCS 5/15-198
40 ILCS 5/15-203 new
30 ILCS 805/8.47 new


Synopsis As Introduced
Amends 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under the alternative retirement formula, in lieu of the regular or minimum retirement annuity, only if the person has withdrawn from service with not less than 20 years of eligible creditable service and has attained age 55 (instead of age 60). With regard to Tier 2 members and participants under the Illinois Municipal Retirement Fund (IMRF), Chicago Municipal, Cook County, State Employees, and State Universities Article: changes the retirement age to age 60 with 20 years of service or age 67 with 10 years of service; changes the final average salary calculation to the total salary during the 60 months (instead of 96 months) of service within the last 120 months of service in which the total salary was the highest; rescinds an election for certain benefits for persons under the Chicago Municipal Article; provides that the automatic annual increase in retirement annuity shall be calculated at 3% or one-half the annual unadjusted increase in the consumer-price index-u, whichever is greater (instead of whichever is less) of the originally granted retirement annuity; and makes other changes. Provides that the changes made by the amendatory Act are intended to be retroactive to January 1, 2011 and are applicable without regard to whether a member or participant was in active service on or after the effective date. Amends the State Mandates Act to require implementation without reimbursement.

Actions 
DateChamber Action
  2/17/2023HouseFiled with the Clerk by Rep. Stephanie A. Kifowit
  2/17/2023HouseFirst Reading
  2/17/2023HouseReferred to Rules Committee
  1/31/2024HouseAssigned to Personnel & Pensions Committee

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