Bill Status of HB2848 102nd General Assembly
Short Description: PEN CD-ANNUAL INCREASES
Rep. Blaine Wilhour
| 3/27/2021||House||Rule 19(a) / Re-referred to Rules Committee|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the General Provisions Article of the Illinois Pension Code. Provides that the retirement annuity or supplemental annuity for a participant, member, or annuitant in any pension fund or retirement system under the Code shall be subject to annual increases equal to the annual unadjusted percentage increase in the consumer price index-u for the 12 months ending with the September preceding each November 1. Provides that the changes apply without regard to whether the participant is in active service on or after the effective date of the amendatory Act. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.