HB3608 - PEN CD-DNST FIRE-PENSION

1 Co-Sponsor

Amends the Downstate Firefighter Article of the Illinois Pension Code. Provides that in July 2023, the monthly pension of a firefighter who retired between July 1, 1977 and January 1, 1986 shall be recalculated and increased to reflect the amount that the firefighter would have received in July 2023 had the firefighter been receiving a 3% compounded increase for each year he or she received pension payments after his or her retirement date. Provides that in each January thereafter, he or she shall receive an additional increase of 3% of the amount of the pension then being paid. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.