SB 167

Abstract

Amends the Downstate Firefighter Article of the Illinois Pension Code. In a provision concerning the calculation of retirement pensions and automatic annual increases for eligible firefighters who participated in more than one pension fund, removes language limiting application of the provision to Tier 1 retirement pension amounts and Tier 1 automatic annual increases. Provides that as a condition of being eligible for the benefits in a provision concerning firefighters who participated in more than one pension fund, a person who is hired to a position as a firefighter after December 31, 2010 must within 21 months after being hired or within 21 months after the effective date of the amendatory Act, whichever is later, notify the new employer, all of his or her previous employers under the Article, and the Public Pension Division of the Department of Insurance of his or her intent to receive those benefits; and make the required contributions with applicable interest. Provides that a person who was hired to a position as a firefighter after December 31, 2010 and who, before the effective date of the amendatory Act, notified the new employer, all of his or her previous employers, and the Public Pension Division of the Department of Insurance of his or her intent to receive the benefits under a provision concerning firefighters who participated in more than one pension fund shall be deemed to have met the notice requirement. Provides that the changes made by the amendatory Act to the provision concerning firefighters who participated in more than one pension fund apply retroactively. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. Senate Committee Amendment No. 1 Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with the following changes. Provides that as a condition of being eligible for the benefits in a provision concerning firefighters who participated in more than one pension fund, a person who first becomes a firefighter under the Article (instead of a person who is hired to a position as a firefighter) after December 31, 2010 must notify specified entities and make certain contributions. Makes a conforming change. Effective immediately.