Illinois HB0704 amends the Illinois Pension Code to adjust widow's annuities for public employees.
Illinois HB0704 makes technical changes to the Illinois Pension Code concerning widow's annuities for public employees. The bill modifies the calculation and conditions for widow's annuities, including adjustments for children under certain conditions and changes to the offset applied to the annuity. It also provides options for retirees to reduce their retirement annuity in exchange for eliminating the offset on their widow's annuity. The changes apply to different groups of retirees based on when they began receiving benefits.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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