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Bill

SB 242

PEN CD-SERS-TIER 2

104th Regular Session Introduced by Mike Halpin

Illinois SB 242 modifies Civic Employees' Retirement System Tier 2 pension benefits, currently under committee amendment with fiscal and equity implications for public workers and state budgets.

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Bill Summary · SB 242

Legislative bill overview

SB 242 modifies pension provisions for Tier 2 members of the Civic Employees' Retirement System (CD-SERS) in Illinois. The bill, currently undergoing committee amendment and reassignment, adjusts benefits or contribution structures for this specific group of public employees.

Why is this important

Tier 2 pension reforms affect thousands of Illinois public workers hired after 2010 who are already subject to less generous benefits than Tier 1 employees. Changes to CD-SERS can impact both current employee compensation and the state's long-term pension liability, which is a significant fiscal concern for Illinois.

Potential points of contention

  • Benefit adequacy vs. fiscal sustainability: Balancing fair retirement security for employees against Illinois's substantial unfunded pension obligations
  • Equity between tiers: Any modifications to Tier 2 raise fairness questions about differential treatment of public employees hired at different times
  • Implementation details unclear: The specific amendments filed have not been publicly summarized, making it difficult to assess exact policy changes and their consequences

Compiled from official sources — confirm details with the bill’s official record.

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