Bill Status of HB1645 103rd General Assembly
Short Description: PENCD-RETIREMENT ANNUITY LIMIT
Rep. Blaine Wilhour and Chris Miller
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Pension Code. Provides that the total amount of the retirement annuity or pension benefits a person may receive from any pension fund or retirement system under the Code in any year shall not exceed $132,900; however, that amount shall annually thereafter be increased by the percentage increase (but not less than zero) in the consumer price index-u for the 12 months ending with the September preceding each November 1, including all previous adjustments. Provides that the changes apply without regard to whether a person became a member, participant, beneficiary, or annuitant before the effective date of the amendatory Act. Effective immediately.