Signed by Governor JB Pritzker

Vote Smart's Synopsis:

Vote to pass a bill that increases the annual cost of living for retired firefighters.

Highlights:

• Defines "consumer price index-u" as the index published by the Bureau of Labor Statistics of the United States Department of Labor that measures the average change in prices of goods and services purchased by all urban consumers, United States city average, all items, 1982-84 = 100 (Sec. 6-164.d).

• Establishes a fireman qualifying for a minimum annuity who retires from service after September 1, 1959, will, upon either the first of the month following the first anniversary of his date of retirement if he is 55 or over on that anniversary date, or upon the first of the month following his attainment of 55 if that occurs after the first anniversary of his retirement date, have his then fixed and payable monthly annuity increased by 1 1/2%, and such first fixed annuity as granted at retirement increased by an additional 1 1/2% in January of each year thereafter up to a maximum increase of 30% (Sec. 6-164.a).

• Establishes in the case of a fireman who received an increase in any year of 1.5%, that fireman will receive an increase for any such year so that the total increase is equal to 3% for each year the fireman would have been otherwise eligible had the fireman not received any increase (Sec. 6-164.a).

• Requires the Tier 2 monthly retirement annuity of a person who first becomes a fireman on or after January 1, 2011 to be increased on the January 1 occurring either on or after (Sec. 6-164.d):

• The attainment of age 60; or

• The first anniversary of the annuity start date, whichever is later.

• Requires, to help defray the cost of such increases in annuity, there to be deducted, beginning September 1, 1959, from each payment of salary to a fireman, 1/8 of 1% of each such salary payment and an additional 1/8 of 1% beginning on September 1, 1961, and September 1, 1963, respectively, concurrently with and in addition to the salary deductions otherwise made for annuity purposes (Sec. 6-164.c).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that increases the annual cost of living for retired firefighters.

Highlights:

• Defines "consumer price index-u" as the index published by the Bureau of Labor Statistics of the United States Department of Labor that measures the average change in prices of goods and services purchased by all urban consumers, United States city average, all items, 1982-84 = 100 (Sec. 6-164.d).

• Establishes a fireman qualifying for a minimum annuity who retires from service after September 1, 1959, will, upon either the first of the month following the first anniversary of his date of retirement if he is 55 or over on that anniversary date, or upon the first of the month following his attainment of 55 if that occurs after the first anniversary of his retirement date, have his then fixed and payable monthly annuity increased by 1 1/2%, and such first fixed annuity as granted at retirement increased by an additional 1 1/2% in January of each year thereafter up to a maximum increase of 30% (Sec. 6-164.a).

• Establishes in the case of a fireman who received an increase in any year of 1.5%, that fireman will receive an increase for any such year so that the total increase is equal to 3% for each year the fireman would have been otherwise eligible had the fireman not received any increase (Sec. 6-164.a).

• Requires the Tier 2 monthly retirement annuity of a person who first becomes a fireman on or after January 1, 2011 to be increased on the January 1 occurring either on or after (Sec. 6-164.d):

• The attainment of age 60; or

• The first anniversary of the annuity start date, whichever is later.

• Requires, to help defray the cost of such increases in annuity, there to be deducted, beginning September 1, 1959, from each payment of salary to a fireman, 1/8 of 1% of each such salary payment and an additional 1/8 of 1% beginning on September 1, 1961, and September 1, 1963, respectively, concurrently with and in addition to the salary deductions otherwise made for annuity purposes (Sec. 6-164.c).

Full Bill Text