Bill Status of HB4659 100th General Assembly
Short Description: PEN CD-CHI POL-ANNUAL INCREASE
Rep. Robert Martwick
|Personnel & Pensions Committee Hearing Mar 1 2018 10:30AM Stratton Building Room D-1 Springfield, IL |
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Chicago Police Article of the Illinois Pension Code. Removes a birthdate restriction on eligibility at age 55 for a 3% automatic annual increase in retirement annuity that is not subject to a maximum increase of 30%. Makes a related change. Specifies the timing of an initial increase in retirement annuity for persons who have not received the initial increase before January 1, 2019. Effective immediately.