SB0242 amends the Illinois Pension Code to adjust retirement benefits and eligibility criteria for certain public employees.
SB0242 amends the Illinois Pension Code to modify retirement benefits and eligibility criteria for public employees. It adjusts the retirement age and eligibility for certain public employees, including investigators for the Secretary of State and conservation police officers. The bill also modifies the calculation of retirement annuities, including annual increases based on the consumer price index. Additionally, it sets a cap on annual earnings, salary, or wages for certain employees and modifies the definition of "final average salary" in various articles of the Code.
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