Illinois HB3113 amends the Illinois Pension Code to establish a minimum pension benefit for noncovered employees and to require additional funding.

HB3113 amends the Illinois Pension Code to define "eligible Tier 2 member" as a member who first became a member under a retirement system or pension fund established under the Code on or after January 1, 2011 and whose service under the applicable Article is not eligible for Social Security coverage. The bill mandates that if an eligible Tier 2 member would receive a pension benefit that is less than the eligible Tier 2 member's hypothetical Social Security benefit, then the eligible Tier 2 member's pension benefit shall be increased to the amount of the hypothetical Social Security benefit.

Illinois HB3113 amends the Illinois Pension Code to establish a minimum pension benefit for noncovered employees and to require additional funding.

HB3113 amends the Illinois Pension Code to define "eligible Tier 2 member" as a member who first became a member under a retirement system or pension fund established under the Code on or after January 1, 2011 and whose service under the applicable Article is not eligible for Social Security coverage. The bill mandates that if an eligible Tier 2 member would receive a pension benefit that is less than the eligible Tier 2 member's hypothetical Social Security benefit, then the eligible Tier 2 member's pension benefit shall be increased to the amount of the hypothetical Social Security benefit.