Bill Status of SB2607 100th General Assembly
Short Description: PEN CD-TIER 2 STATE POLICE
Sen. John G. Mulroe and Martin A. Sandoval
|Licensed Activities and Pensions Hearing Feb 21 2018 1:30PM Capitol 400 Springfield, IL |
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the General Provisions Article of the Illinois Pension Code. Provides that a State policeman who meets the requirements of the Tier 2 provisions is entitled to an annuity calculated under the alternative retirement annuity provisions of the State Employee Article of the Code in lieu of the regular or minimum retirement annuity only if the person has withdrawn from service with not less than 20 years of eligible creditable service and has attained age 50 (instead of age 60), regardless of whether the attainment of age 50 (instead of age 60) occurs while the person is still in service. Provides that the changes made by the amendatory Act apply without regard to whether a person is in active service on or after the effective date of the amendatory Act. Excludes a benefit increase resulting from the amendatory Act from the definition of "new benefit increase". Effective immediately.