HB 727
Synopsis:
Amends the Downstate Firefighter Article of the Illinois Pension Code. Provides for a 3% increase in the line of duty disability pension that continues to be paid to a firefighter’s survivors after the death of the firefighter if: (1) the firefighter died in 2023; (2) the firefighter died less than 6 months before his or her 60th birthday; and (3) by no later than one year after the effective date of the amendatory Act, the board of trustees of the fire protection district adopted an ordinance or resolution granting the increase. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Last Action:
3/18/2026 – House: Placed on Calendar 2nd Reading – Short Debate
HB 1045
Synopsis:
Restores the statutes to the form in which they existed before their amendment by Public Acts 101-652, 102-28, and 102-1104, with certain exceptions. Amends the Criminal Code of 2012 concerning aggravating factors for which the death penalty may be imposed. Amends the Code of Criminal Procedure of 1963. Eliminates a provision that abolishes the sentence of death. Transfers unobligated and unexpended moneys remaining in the Death Penalty Abolition Fund into the reestablished Capital Litigation Trust Fund. Enacts the Capital Crimes Litigation Act of 2025 and amends the State Appellate Defender Act to add provisions concerning the restoration of the death penalty. Amends the General Provisions, Downstate Police, Downstate Firefighter, Chicago Police, Chicago Firefighter, Illinois Municipal Retirement Fund (IMRF), State Employees, and State Universities Articles of the Illinois Pension Code. With regard to police officers, firefighters, and similar public safety employees, removes Tier 2 limitations on the amount of salary for annuity purposes; provides that the automatic annual increases to a retirement pension or survivor pension are calculated under the Tier 1 formulas; and provides that the amount of and eligibility for a retirement annuity are calculated under the Tier 1 provisions. Amends the State Finance Act to make conforming changes. Amends the Public Safety Employee Benefits Act concerning health insurance plans of police officers and firefighters. Makes other conforming changes. Amends the State Mandates Act to require implementation of the amendatory changes to the Illinois Pension Code without reimbursement.
Makes other changes. Effective immediately.
Last Action:
Referred to Rules Committee
HB 1046
Synopsis:
Amends the General Provisions, Downstate Police, Downstate Firefighter, Chicago Police, Chicago Firefighter, Illinois Municipal Retirement Fund (IMRF), State Employees, and State Universities Articles of the Illinois Pension Code. With regard to police officers, firefighters, and similar public safety employees, removes Tier 2 limitations on the amount of salary for annuity purposes; provides that the automatic annual increases to a retirement pension or survivor pension are calculated under the Tier 1 formulas; and provides that the amount of and eligibility for a retirement annuity are calculated under the Tier 1 provisions. Amends the State Finance
Act. Provides that, each fiscal year, the Comptroller shall pay to each unit of local government that makes a certification of certain employer costs under the Illinois Pension Code or under a specified provision of the Public Safety Employee Benefits Act an amount equal to 40% of the total amount certified by the unit of local government. Creates a continuing appropriation of that amount. Amends the Public Safety Employee Benefits Act. Provides that a unit of local government that provides health insurance to police officers and firefighters shall maintain the health insurance plans of these employees after retirement and shall contribute toward the cost of the annuitant’s coverage under the unit of local government’s health insurance plan an amount equal to 4% of that cost for each full year of creditable service upon which the annuitant’s retirement annuity is based. Makes other and conforming changes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Last Action:
Rule 19(a) / Re-referred to Rules Committee
HB 1246
Synopsis:
Amends the Downstate Police and Downstate Firefighter Articles of the Illinois Pension Code. Provides that the annual employer contribution shall include an amount sufficient to bring the total assets of the pension fund up to 90% of the total actuarial liabilities of the pension fund by the end of municipal fiscal year 2050 (instead of 2040). Makes a conforming change. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Last Action:
Rule 19(a) / Re-referred to Rules Committee
HB 1310
Synopsis:
Amends the Downstate Firefighter Article of the Illinois Pension Code. In a provision that reduces the amount of the pension for a Tier 2 firefighter who retires with at least 10 years of creditable service before attaining age 55, provides that the pension of a Tier 2 firefighter who is retiring after attaining age 50 with 20 or more years of creditable service shall not be reduced. Makes a conforming change. Provides that each annual increase for Tier 2 firefighters shall be increased on the January 1 occurring either on or after the attainment of age 55 (instead of age 60) or the first anniversary of the pension start date, whichever is later, and shall be calculated at 3% of the originally granted pension (instead of calculated at the lesser of 3% or one-half the annual unadjusted percentage increase in the consumer price index-u for a 12-month period ending in September preceding each November 1). Provides that the changes shall apply without regard to whether a Tier 2 firefighter is in active service under the Article on or after the effective date of the amendatory Act. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Last Action:
Rule 19(a) / Re-referred to Rules Committee
HB 1357
Synopsis:
Amends the Downstate Police and Downstate Firefighter Articles of the Illinois Pension Code. Provides that the annual employer contribution shall include an amount sufficient to bring the total assets of the pension fund up to 90% of the total actuarial liabilities of the pension fund by the end of municipal fiscal year 2050 (instead of 2040). Makes a conforming change. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Last Action:
Rule 19(a) / Re-referred to Rules Committee
HB 1620
Synopsis:
Amends the Downstate Firefighter Article of the Illinois Pension Code. Provides that an active firefighter with 5 or more years of creditable service who is found unable to perform his or her duties in the fire department by reason of amyotrophic lateral sclerosis (ALS) resulting from service as a firefighter is entitled to an occupational disease disability pension during any period of such disability for which he or she has no right to receive salary. Amends the State Mandates Act to require implementation without reimbursement by the State.
Last Action:
Rule 19(a) / Re-referred to Rules Committee
HB 1727
Synopsis:
Amends the General Provisions Article of the Illinois Pension Code. Provides that benefit or annuity payments to a member or participant in a retirement system or pension fund shall be suspended if the member or participant is indicted or charged by information with a felony and the board of the retirement system or pension fund determines that the felony relates to or arises out of or in connection with his or her service as a member or participant of the retirement system or pension fund. Provides that if the member or participant is not convicted of that felony, payment of the benefit or annuity shall resume and the retirement system or pension fund shall pay to the member or participant the amount of the suspended annuity or benefit payments with interest. Provides that if the member or participant is convicted of that felony, the suspended annuity or benefit payments shall not be paid to the member or participant. Provides that the amendatory Act applies without regard to whether the member or participant first became a member or participant of a retirement system or pension fund before the effective date of the amendatory Act. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Last Action:
Referred to Rules Committee
HB 1820
Synopsis:
Amends the Downstate Police and Downstate Firefighter Articles of the Illinois Pension Code. In a provision concerning reductions of disability and survivor’s benefits for corresponding benefits payable under the Workers’ Compensation and Workers’ Occupational Diseases Acts, provides that if a person is entitled to a survivor’s benefit as a result of the decedent’s sickness, accident, or injury incurred in or resulting from the performance of an act of duty or from the cumulative effects of acts of duty, then there shall be no reduction in the benefits payable to that person under the Article. Amends the State Mandates Act to require implementation without
reimbursement by the State.
Last Action:
Rule 19(a) / Re-referred to Rules Committee
HB 2443
Synopsis:
Amends the Downstate Police Article of the Illinois Pension Code. Provides that, at any time during the 6 months following the effective date of the amendatory Act, an active member of a downstate firefighters’ pension fund may apply for transfer to that fund of up to 8 years of his or her creditable service accumulated in a police pension fund under the Downstate Police Article that is administered by a unit of local government if that active member was not subject to disciplinary action when he or she terminated employment with that police department. Amends the State Mandates Act to require implementation without reimbursement by the State. Effective
immediately.
Last Action:
Rule 19(a) / Re-referred to Rules Committee
HB 2484
Synopsis:
Amends the Downstate Police and Illinois Municipal Retirement Fund (IMRF) Articles of the Illinois Pension Code. Removes language providing that a person may not elect to participate in IMRF with respect to his or her employment as a chief of police of a participating municipality, unless that person became a participating employee in IMRF before January 1, 2019. Makes conforming changes. In the Downstate Police Article, provides that, on and after the effective date of the amendatory Act, a municipality is not required to establish a defined contribution plan. Provides that a municipality is required to maintain a defined contribution plan for persons who began participating in the defined contribution plan before the effective date of the amendatory Act. In provisions authorizing certain police officers to elect to participate in the defined contribution plan, restricts participation to police officers who first became police officers before the effective date of the amendatory Act and to municipalities that established a defined contribution plan before the effective date of the amendatory Act. Amends the State Mandates Act to require implementation without reimbursement.
Last Action:
Placed on Calendar 2nd Reading – Short Debate
HB 2524
Synopsis:
Amends the Downstate Firefighter Article of the Illinois Pension Code. Includes in the definition of “firefighter”, a person employed in a municipality’s or fire protection district’s fire service as a de facto firefighter. Provides that “de facto firefighter” means a firefighter who spends a majority of the firefighter’s working time participating in the work of controlling and extinguishing fires at the location of any such fires, preparing for such work or waiting to respond to such calls for work and whose scheduled or actual work hours are commensurate in duration and frequency with certain firefighters. Provides that “de facto firefighter” does not include part-time firefighters who are not otherwise covered; auxiliary, reserve, or voluntary firefighters, including paid-on-call firefighters; and clerks, dispatchers, or other civilian employees of a fire department or fire protection district who are not routinely expected to perform firefighter duties. Provides that the changes made by the amendatory Act do not affect persons covered by the Article before the effective date of the amendatory Act. Makes a conforming change. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Last Action:
Rule 19(a) / Re-referred to Rules Committee
HB 2711
Synopsis:
Amends the Illinois Pension Code. Makes changes to Tier 2 benefits, including changing the amount of the automatic annual increase to 3% of the originally granted retirement annuity or 3% of the retirement annuity then being paid for the General Assembly and Judges Articles, changing the limit on the amount of salary for annuity purposes to the Social Security wage base, changing the calculation of final average salary to the Tier 1 calculation for persons who are active members on or after January 1, 2026, and changing the retirement age. Establishes a accelerated pension benefit payment option for the General Assembly, Chicago Teachers, and Judges Articles of the Code. Provides that, with regard to persons subject to the Tier 2 provisions, a security employee of the Department of Human Services, a security employee of the Department of Corrections or the Department of Juvenile Justice, an investigator for the Department of the Lottery, or a State highway worker is entitled to an annuity calculated under the alternative retirement annuity provisions of the State Employee Article of the Code. Authorizes the conversion of service to eligible creditable service. Provides that the Retirement Systems Reciprocal Act (Article 20 of the Code) is adopted and made a part of the Downstate Police, Downstate Firefighter, Chicago Police, and Chicago Firefighter Articles. Authorizes SLEP status under the Illinois Municipal Retirement Fund for a person who is a county correctional officer or probation officer and for a person who participates in IMRF and qualifies as a firefighter under the Public Safety Employee Benefits Act. In the Downstate Firefighter Article, includes a de facto firefighter in the definition of “firefighter”. Defines “de facto firefighter”. Provides that the monthly pension of a firefighter who is receiving a disability pension shall be increased at the rate of 3% of the original monthly pension. Makes changes to the minimum retirement annuity payable to a firefighter with 20 or more years of creditable service, the minimum disability pension, and the minimum surviving spouse’s pension. Makes other changes. Amends the State Mandates Act to require implementation without reimbursement by the State. Effective immediately.
Last Action:
Rule 19(a) / Re-referred to Rules Committee
HB 2796
Synopsis:
Amends the Downstate Firefighter Article of the Pension Code. Provides for a Deferred Retirement Option Plan, under which a firefighter who is at least age 50 with 20 years of service may continue in active service for up to 3 years while having his or her retirement pension paid into a special account, to be distributed to the firefighter upon retirement. Bases the retirement pension on the firefighter’s service and salary at the time of joining the DROP plan. Requires termination of service at the end of the DROP plan participation period. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Last Action:
Rule 19(a) / Re-referred to Rules Committee
HB 4015
Synopsis:
Amends the Downstate Police Article of the Illinois Pension Code. Provides that an eligible police officer may elect to receive a retirement pension from each pension fund under the Article in which the police officer has at least one year of service credit, but has not received a refund, by applying in writing and paying a specified contribution. Provides that from each such pension fund other than the last pension fund, in lieu of any retirement pension otherwise payable, an eligible police officer may elect to receive a monthly pension of 1/12th of 2.5% of his or her final monthly salary under that fund for each month of service in that fund, subject to a maximum of 75% of that final monthly salary. Provides that the retirement pension from the last pension fund shall be the retirement pension that would be payable to the police officer if he or she had participated in that last pension fund for his or her entire period of service under all pension funds, minus the amounts of the retirement pensions payable to the police officer by all other pension funds. Provides that a police officer must pay to each pension fund from which he or she has elected to receive a pension a contribution equal to 1% of monthly salary for each month of service credit that the police officer has in that fund (other than service credit for which the police officer has already paid a specified additional contribution), together with interest thereon at the rate of 6% per annum, compounded annually. Contains provisions concerning eligibility for the benefit; contributions; refunds; reinstatement of terminated credits; automatic annual increases; and occupational disease disability pensions. Makes conforming and other changes. Amends the State Mandates Act to require implementation without reimbursement.
Last Action:
Referred to Rules Committee
HB 4673
Synopsis:
Amends the Illinois Pension Code. Makes changes to Tier 2 benefits, including changing the amount of the automatic annual increases for the General Assembly and Judges Articles, changing the limit on the amount of salary for annuity purposes to the Social Security wage base, and changing the calculation of final average salary and the retirement age for certain persons. Makes changes concerning eligibility for the alternative retirement annuity under the State Employees Article. Adopts the Retirement Systems Reciprocal Act (Article 20 of the Code) for the Downstate Police, Downstate Firefighter, Chicago Police, and Chicago Firefighter Articles. Authorizes SLEP status under IMRF for certain persons. Makes changes to the funding formula for the 5 State-funded retirement systems and the downstate police and downstate firefighter pension funds. Makes changes to the retirement age under the Downstate Firefighter Article. Establishes a deferred retirement option plan under the Chicago Police Article and the Downstate Police Article. Makes other changes. Amends the Budget Stabilization Act to make transfers to the Pension Stabilization Fund for fiscal years 2030 through 2049. Amends the General Obligation Bond Act. Provides that each fiscal year after certain State pension funding bonds and income tax proceed bonds are retired, the State Treasurer and the State Comptroller shall transfer $250,000,000 to the Pension Unfunded Liability Reduction Fund, which shall be used for making additional contributions to the 5 State-funded retirement systems and the Chicago Teachers’ Pension Fund, and $250,000,000 to the Local Government Distributive Fund. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Last Action:
Rule 19(a) / Re-referred to Rules Committee
HB 4491 – PUBLIC EMPLOYEE DISABILITY
Synopsis:
Amends the Public Employee Disability Act. Provides that, whenever an eligible employee suffers any injury or illness in the line of duty (rather than suffers any injury in the line of duty) which causes that employee to be unable to perform the employee’s duties, the employee shall continue to be paid by the employing public entity on the same gross pay basis, inclusive of all pensionable salary, as the employee was paid before the injury (rather than paid by the employing public entity on the same basis as he was paid before the injury), with no deduction from and with continued accrual of any sick leave credits (rather than with no deduction from his sick leave credits) and specified other compensation, with other requirements. Makes technical changes.
Last Action:
Referred to Rules Committee
HB 4715
Synopsis:
Creates the Police Mental Health Leave Act. Provides that a law enforcement officer suffering from a mental illness as a result of a traumatic event shall be entitled to use 5 days of paid mental health leave during any 12-month period. Requires a law enforcement agency to adopt a mental health leave policy that includes specified provisions. Sets forth provisions concerning existing leave policies; employee protections; retaliation; and recordkeeping. Provides for a private right of action.
Last Action:
Referred to Rules Committee
SB 0184
Synopsis:
Amends the Downstate Firefighter Article of the Illinois Pension Code. Adds fire investigators to the definition of “firefighter”. Amends the State Mandates Act to require implementation without reimbursement by the State.
Last Action:
Rule 3-9(a) / Re-referred to Assignments
SB 0002
Synopsis:
Amends the Illinois Pension Code. Makes changes to Tier 2 benefits, including changing the amount of the automatic annual increase to 3% of the originally granted retirement annuity or 3% of the retirement annuity then being paid for the General Assembly and Judges Articles, changing the limit on the amount of salary for annuity purposes to the Social Security wage base, changing the calculation of final average salary to the Tier 1 calculation for persons who are active members on or after January 1, 2026, and changing the retirement age. Establishes an accelerated pension benefit payment option for the General Assembly, Chicago Teachers, and Judges Articles of the Code. Provides that, with regard to persons subject to the Tier 2 provisions, a security employee of the Department of Human Services, a security employee of the Department of Corrections or the Department of Juvenile Justice, an investigator for the Department of the Lottery, or a State highway worker is entitled to an annuity calculated under the alternative retirement annuity provisions of the State Employee Article of the Code. Authorizes the conversion of service to eligible creditable service. Provides that the Retirement Systems Reciprocal Act (Article 20 of the Code) is adopted and made a part of the Downstate Police, Downstate Firefighter, Chicago Police, and Chicago Firefighter Articles. Authorizes SLEP status under the Illinois Municipal Retirement Fund for a person who is a county correctional officer or probation officer and for a person who participates in IMRF and qualifies as a firefighter under the Public Safety Employee Benefits Act. In the Downstate Firefighter Article, includes a de facto firefighter in the definition of “firefighter”. Defines “de facto firefighter”. Provides that the monthly pension of a firefighter who is receiving a disability pension shall be increased at the rate of 3% of the original monthly pension. Makes changes to the minimum retirement annuity payable to a firefighter with 20 or more years of creditable service, the minimum disability pension, and the minimum surviving spouse’s pension. Makes other changes. Amends the State Mandates Act to require implementation without reimbursement by the State. Effective immediately.
Last Action:
Referred to Assignments
SB 1585
Synopsis:
Amends the Downstate Firefighter and Chicago Firefighter Articles of the Illinois Pension Code. Provides that until 6 months after the effective date of the amendatory Act, creditable service may be transferred from municipal firefighters’ pension funds to the Firemen’s Annuity and Benefit Fund of Chicago. Removes a provision restricting the amount of creditable service that may be transferred. Authorizes, until 6 months after the effective date of the amendatory Act, the transfer of creditable service from the Firemen’s Annuity and Benefit Fund of Chicago to municipal firefighters’ pension funds. Amends the State Mandates Act to provide for implementation without reimbursement. Effective immediately.
Last Action:
Rule 3-9(a) / Re-referred to Assignments
SB 2020
Synopsis:
Amends the Illinois Pension Code. In the Downstate Police Article, provides that, beginning July 1, 2025, any line-of-duty disability pension shall be at least $40,000 per year (instead of $400 per month), without regard to whether the disability or death of the police officer occurred before July 1, 2025. In provisions concerning an annual increase in the line-of-duty disability pension, removes requirements that an applicant must file an affidavit stating that the applicant has not earned any income from gainful employment during the most recently concluded tax year; have service credit in the Fund for at least 7 years of active duty; and have been receiving a line-of-duty disability pension for a period which, when added to the officer’s total service credit in the Fund, equals at least 20 years. In the Downstate Firefighter Article, provides that the minimum line-of-duty disability pension shall be at least $40,000 per year. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Last Action:
Rule 3-9(a) / Re-referred to Assignments
SB 3073
Synopsis:
Amends the Downstate Firefighter Article of the Illinois Pension Code. Provides that a firefighter who previously participated in the Illinois Municipal Retirement Fund (IMRF) for service as a member of the fire department of a municipality and was transferred to that municipality’s firefighters’ pension fund upon its creation, as required under the Downstate Firefighter Article as a result of the federal decennial census of 2010, shall, for the purposes of determining the applicable tier of benefits, be deemed to have become a firefighter and member of that municipality’s firefighters’ pension fund on the date that he or she first participated in IMRF as a member of the fire department of that municipality, notwithstanding whether that start date was before January 1, 2011. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Last Action:
Rule 3-9(a) / Re-referred to Assignments
SB 3082
Synopsis:
Amends the Downstate Police Article of the Illinois Pension Code. Provides that, beginning July 1, 2026, any line-of-duty disability pension shall be at least $40,000 per year (instead of $400 per month), without regard to whether the disability or death of the police officer occurred before July 1, 2026. In provisions concerning an annual increase in the line-of-duty disability pension, removes requirements that an applicant must file an affidavit stating that the applicant has not earned any income from gainful employment during the most recently concluded tax year; have service credit in the Fund for at least 7 years of active duty; and have been receiving a line-of-duty disability pension for a period which, when added to the officer’s total service credit in the Fund, equals at least 20 years. Provides that, if a disabled police officer is receiving a line-of- duty disability pension and is an annuitant of a municipality that sponsors a group hospital and medical plan that includes police officers or is participating in certain group insurance coverage, then the pension fund shall pay the total monthly premium on behalf of that police officer for such group insurance coverage. Amends the Property Tax Code. Sets forth a homestead exemption for property owned by a person receiving a line-of-duty disability pension in an amount equal to 50% of the equalized or assessed value of the property if the person is age 25 or over and under the age of 36, 75% of the equalized or assessed value of the property if the person is age 36 or over and under the age of 50, and 100% of the equalized or assessed value of the property if the person is age 50 or over. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Last Action:
Referred to Assignments
SB 3199
Synopsis:
Amends the Illinois Pension Code. Provides that the Retirement Systems Reciprocal Act (Article 20 of the Code) is adopted and made a part of the Downstate Firefighter and Downstate Police Articles, but only with respect to a person who, on or after the effective date of the amendatory Act, is entitled under the Downstate Firefighter Article or Downstate Police Article to begin receiving a retirement annuity or survivor’s annuity and who elects to proceed under the Retirement Systems Reciprocal Act. Amends the State Mandates Act to require implementation without reimbursement by the State.
Last Action:
Referred to Assignments
SB 3388
Synopsis:
Amends the Downstate Police, Downstate Firefighter, and Illinois Municipal Retirement Fund (IMRF) Articles of the Illinois Pension Code. Establishes an accelerated pension benefit payment in lieu of any pension benefit under which an eligible person may elect to receive an amount determined by the Fund to be equal to 60% of the present value of his or her pension benefits in lieu of receiving any pension benefit. Establishes an accelerated pension benefit payment for a reduction in annual retirement annuity and survivor’s annuity increases, as applicable, under which a Tier 1 member may elect to receive an accelerated pension benefit payment equal to 70% of the difference of the present value of the automatic annual increases to a Tier 1 member’s retirement annuity and survivor’s annuity using the formula applicable to the Tier 1 member and the present value of the automatic annual increases to the Tier 1 member’s retirement annuity using a specified formula and survivor’s annuity using a specified formula. Provides that, upon receipt of a member’s irrevocable election to receive an accelerated pension benefit payment, the Fund shall transfer the amount of the accelerated pension benefit payment into the member’s eligible retirement plan or qualified account. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Last Action:
Referred to Assignments
SB 3404
Synopsis:
Amends the Downstate Police, Downstate Firefighter, Chicago Police, Chicago Firefighter, Chicago Municipal, Cook County, Cook County Forest Preserve, Chicago Laborers, and Chicago Park District Articles of the Illinois Pension Code. Establishes an accelerated pension benefit payment in lieu of any pension benefit under which an eligible person may elect to receive an amount determined by the Fund to be equal to 60% of the present value of his or her pension benefits in lieu of receiving any pension benefit. Establishes an accelerated pension benefit payment for a reduction in annual retirement annuity and survivor’s annuity increases, as applicable, under which a Tier 1 member may elect to receive an accelerated pension benefit payment equal to 70% of the difference of the present value of the automatic annual increases to a Tier 1 member’s retirement annuity and survivor’s annuity using the formula applicable to the Tier 1 member and the present value of the automatic annual increases to the Tier 1 member’s retirement annuity using a specified formula and survivor’s annuity using a specified formula. Amends the Counties Code and the Illinois Municipal Code. Requires municipalities and counties with more than 3,000,000 inhabitants to establish an accelerated pension benefit program to implement the accelerated pension benefit payments. Provides that the county or municipality shall remit to the pension funds a contribution, which may be a contribution of zero dollars, that shall constitute the total funding for accelerated pension benefit payments for that fiscal year. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Last Action:
Placed on Calendar Order of 2nd Reading March 12, 2026
SB 3430
Synopsis:
Amends the Downstate Police, Downstate Firefighter, Chicago Police, Chicago Firefighter, Illinois Municipal Retirement Fund (IMRF), Chicago Municipal, and Chicago Laborers Articles of the Illinois Pension Code. Establishes an accelerated pension benefit payment in lieu of any pension benefit under which an eligible person may elect to receive an amount determined by the Fund to be equal to 60% of the present value of his or her pension benefits in lieu of receiving any pension benefit. Establishes an accelerated pension benefit payment for a reduction in annual retirement annuity and survivor’s annuity increases, as applicable, under which a Tier 1 member may elect to receive an accelerated pension benefit payment equal to 70% of the difference of the present value of the automatic annual increases to a Tier 1 member’s retirement annuity and survivor’s annuity using the formula applicable to the Tier 1 member and the present value of the automatic annual increases to the Tier 1 member’s retirement annuity using a specified formula and survivor’s annuity using a specified formula. Amends the General Obligation Bond Act to authorize $700,000,000 to be sold to pay for the accelerated pension benefit payments. Provides that the Comptroller shall deduct the amount for the payment of principal and interest due on Local Pension Obligation Acceleration Bonds from any payment out of the Local Government Distributive Fund to the employer and shall pay the amount so deducted toward the principal and interest due on Local Pension Obligation Bonds. Amends the State Finance Act to make a conforming change. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Last Action:
Referred to Assignments