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Bill > HB3193


IL HB3193

IL HB3193
PEN CD-SURS-EARNINGS


summary

Introduced
02/06/2025
In Committee
05/15/2025
Crossed Over
04/11/2025
Passed
08/15/2025
Dead
Signed/Enacted/Adopted
08/15/2025

Introduced Session

104th General Assembly

Bill Summary

Amends the Illinois Pension Code. Makes changes in provisions and sets forth provisions concerning: the cancellation of pensions as a result of re-employment under the Chicago Teachers Article; persons who held elective office under the Illinois Municipal Retirement Fund (IMRF) Article; the transfer of service credit; employer contributions; establishing credit for military service and certain other service; the ordinary disease benefit under the Metropolitan Water Reclamation District (MWRD) Article; the computation of service under the Chicago Teachers Article; indemnification of trustees; the occupational disease benefit under the Chicago Firefighters Article; the election of members to Board of the Firefighters' Pension Investment Fund; the calculation of final rate of earnings and survivors insurance benefits under the State Universities Article; the optional defined contribution benefit under the Downstate Teachers Article; the deferred compensation plan under the State Universities Article; an estimated payment for members eligible to receive an alternative retirement annuity under the State Employees Article; an additional employer contribution for employing affected annuitants under the State Universities Article; and other provisions. Amends the State Mandates Act to requirement implementation without reimbursement. Certain provisions are effective immediately

AI Summary

This bill amends the Illinois Pension Code to make various changes across multiple pension systems and retirement funds. Specifically, the bill introduces provisions related to: cancellation of pensions for re-employed retirees, transfers of service credit between different pension funds, calculation of final rate of earnings, employer contributions, establishing credit for military or other service, optional defined contribution benefits, and estimated retirement payments. For instance, the bill allows certain public employees to transfer up to 8 years of creditable service between different pension funds, modifies rules about re-employment after retirement that could impact pension benefits, and enables members eligible for retirement to receive an estimated payment while their full retirement benefit is being processed. The bill also makes several technical corrections and clarifications to existing pension law, with most changes intended to be retroactive to specific dates. Some key provisions apply to specific pension systems like the State Universities Retirement System, Illinois Municipal Retirement Fund, and Chicago Teachers' Pension Fund. The bill is part of ongoing efforts to manage and provide flexibility within Illinois' public employee pension systems.

Committee Categories

Government Affairs, Labor and Employment

Sponsors (13)

Last Action

Public Act . . . . . . . . . 104-0284 (on 08/15/2025)

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