Illinois HB2332 amends retirement annuity provisions for Tier 2 members, particularly police officers and firefighters.
Illinois HB2332 amends the State Universities Retirement System, specifically affecting Tier 2 members. It allows Tier 2 members who are police officers or firefighters with at least 20 years of service to apply for a retirement annuity at age 55, instead of age 60. It also permits those with at least 25 years of service to apply at age 50, if applicable. The bill ensures that the annuity payment period begins on the specified date or earlier, but not before the termination of employment or more than a year before the application is received. The changes apply retroactively to January 1, 2011.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.