PEN CD-TIER 2 BENEFITS Senate SponsorsSen. Robert F. Martwick 1/10/2023SenateSession Sine Die 40 ILCS 5/1-16040 ILCS 5/7-114from Ch. 108 1/2, par. 7-11440 ILCS 5/7-116from Ch. 108 1/2, par. 7-11640 ILCS 5/7-141from Ch. 108 1/2, par. 7-14140 ILCS 5/7-142from Ch. 108 1/2, par. 7-14240 ILCS 5/15-111from Ch. 108 1/2, par. 15-11140 ILCS 5/15-112from Ch. 108 1/2, par. 15-11240 ILCS 5/15-135from Ch. 108 1/2, par. 15-13540 ILCS 5/15-136from Ch. 108 1/2, par. 15-13640 ILCS 5/15-19840 ILCS 5/16-20330 ILCS 805/8.46 newAmends the General Provisions, Illinois Municipal Retirement Fund (IMRF), State Universities, and Downstate Teacher Articles of the Illinois Pension Code. With regard to Tier 2 members under the Downstate Teacher or State Universities Article and Tier 2 regular employees who are employees of an educational employer: makes changes to the age and service credit requirements for receiving an annuity; increases the amount of the automatic annual increases to retirement annuities; makes changes to the formula for calculating final average salary; and increases the limitation on the amount of salary that is used to calculate benefits. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. 1/21/2022SenateFiled with Secretary by Sen. Robert F. Martwick 1/21/2022SenateFirst Reading 1/21/2022SenateReferred to Assignments 1/10/2023SenateSession Sine Die