Bill Status of HB2855

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HB2855 - 104th General Assembly

PEN CD-CHI POLICE&FIRE-TIER 2
Last Action
3/21/2025 - House: Rule 19(a) / Re-referred to Rules Committee
House Sponsors
Rep. Stephanie A. Kifowit
Statutes Amended In Order of Appearance
40 ILCS 5/5-167.1from Ch. 108 1/2, par. 5-167.1
40 ILCS 5/5-238
40 ILCS 5/6-164from Ch. 108 1/2, par. 6-164
40 ILCS 5/6-229
30 ILCS 805/8.49 new
Synopsis As Introduced
Amends the Chicago Police and Chicago Firefighter Articles of the Illinois Pension Code. Provides that the Tier 2 monthly retirement annuity shall be increased on the January 1 occurring either on or after (i) the attainment of age 55 (instead of age 60) or (ii) the first anniversary of the annuity start date, whichever is later. Provides that each annual increase shall be calculated at 3% (instead of 3% or one-half the annual unadjusted percentage increase in the consumer price index-u, whichever is less) of the originally granted retirement annuity. In a provision specifying an annuity reduction factor for each year a retiring Tier 2 policeman or fireman is under the age of 55, provides that the retirement annuity of a policeman or fireman who is retiring after attaining age 50 with 20 or more years of service shall not be reduced. Makes a conforming change. Amends the State Mandates Act to require implementation without reimbursement.
Actions
Date Chamber Action
2/05/2025 House Filed with the Clerk by Rep. Stephanie A. Kifowit
2/06/2025 House First Reading
2/06/2025 House Referred to Rules Committee
3/04/2025 House Assigned to Appropriations-Pensions & Personnel
3/21/2025 House Rule 19(a) / Re-referred to Rules Committee