Bill Status of SB 1934   104th General Assembly


Short Description:  PEN CD-TIER 2 SURVIVOR BENEFIT

Senate Sponsors
Sen. Robert F. Martwick

Last Action  View All Actions

DateChamber Action
  2/6/2025SenateReferred to Assignments

Statutes Amended In Order of Appearance
40 ILCS 5/1-160
30 ILCS 805/8.49 new

Synopsis As Introduced
Amends the General Provisions Article of the Illinois Pension Code. In provisions concerning Tier 2 benefits, provides that the initial survivor's or widow's benefit (instead of the initial benefit) shall be 66 2/3% of the earned annuity without a reduction due to age. Provides that a child's annuity of an otherwise eligible child shall be in the amount and using the formula prescribed under the applicable Article of the Code, and such formula shall be used for calculation of the child's annuity only. Provides that, if a benefit is paid to both a widow or survivor and a child or multiple children, the widow's portion shall be calculated in the amount of 66 2/3% and reduced by the pro rata portion of any child or children's portion as calculated in accordance with the terms of the Article of the Code that is applicable to the pension fund or retirement system that is providing the benefit using the method prescribed in the applicable Article of the Code. Adds child's annuities to provisions concerning automatic annual increases. Amends the State Mandates Act to require implementation without reimbursement.

Actions 
DateChamber Action
  2/6/2025SenateFiled with Secretary by Sen. Robert F. Martwick
  2/6/2025SenateFirst Reading
  2/6/2025SenateReferred to Assignments

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