summary
Introduced
01/12/2026
01/12/2026
In Committee
01/14/2026
01/14/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. Provides that the amendatory Act may be referred to as the Pension Equity Act. Provides that, beginning on January 1, 2027, for all purposes under the Code (including, without limitation, the calculation of benefits and employee contributions), the annual earnings of a Tier 2 sheriff's law enforcement employee shall not include overtime and shall not exceed $145,649.97 (instead of $108,600, as adjusted annually beginning in 2011) plus the lesser of (i) 3% of that amount or (ii) the annual unadjusted percentage increase (instead of one-half the annual unadjusted percentage increase) in the consumer price index-u for the 12 months ending with September 2026. Provides that, beginning on January 1, 2028, that amount shall annually thereafter be increased by the lesser of (i) 3% of that amount, including all previous adjustments, or (ii) the annual unadjusted percentage increase (instead of one-half the annual percentage increase) in the consumer price index-u for the 12 months ending with the September preceding each November 1, including all previous adjustments. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
AI Summary
This bill, also known as the Pension Equity Act, amends the Illinois Municipal Retirement Fund (IMRF) rules for Tier 2 sheriff's law enforcement employees. Starting January 1, 2027, their annual earnings used for pension calculations will exclude overtime and be capped at $145,649.97, with annual increases thereafter tied to a percentage of that amount or the consumer price index (CPI-U), whichever is less, with a 3% cap on increases. This cap will be adjusted annually starting in 2028, with the increase also capped at 3% or the CPI-U, whichever is less. The bill also states that any costs incurred by local governments to implement these changes are not eligible for reimbursement from the state, as mandated by the State Mandates Act.
Sponsors (1)
Last Action
Referred to Rules Committee (on 01/14/2026)
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