Bill > HB2704

This bill amends the Illinois Pension Code to incorporate the Retirement Systems Reciprocal Act (Article 20) specifically for Chicago Police and Chicago Firefighter pension systems, but only for individuals who become eligible to receive a retirement or survivor's annuity on or after the effective date of the amendment and who choose to proceed under the Reciprocal Act. The Retirement Systems Reciprocal Act likely allows pension recipients to combine service credits from multiple public pension systems to qualify for or enhance their retirement benefits. By adding Sections 5-240 and 6-235 to the existing pension code, the bill enables eligible Chicago police officers and firefighters to potentially maximize their retirement benefits by counting service time across different public pension systems. Additionally, the bill amends the State Mandates Act to require implementation of these changes without requiring reimbursement from the state, which means local pension systems will be responsible for implementing the new provisions at their own expense.

Labor and Employment

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2704&GAID=18&DocTypeID=HB&SessionID=114&GA=104