Bill > SB1722

This bill amends the Illinois Pension Code to extend the Retirement Systems Reciprocal Act (Article 20) to Chicago firefighters under specific conditions. Specifically, the bill allows firefighters who become eligible for a retirement or survivor's annuity on or after the effective date of this amendment to opt into the Retirement Systems Reciprocal Act. The Retirement Systems Reciprocal Act is a provision that likely allows pension benefits to be calculated or transferred across multiple public pension systems, giving firefighters more flexibility in managing their retirement benefits. Additionally, the bill includes a provision in the State Mandates Act that exempts this change from state reimbursement, meaning local governments or pension systems will be responsible for implementing the new provisions without financial support from the state. This change appears designed to provide more options for Chicago firefighters in managing their pension benefits while placing the implementation burden on local entities.

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1722&GAID=18&DocTypeID=SB&SessionID=114&GA=104