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Legislative Highlights for the Week of 4/26/24 from IFT : Tier II update

The Illinois legislature will reconvene next week for the remaining 19 scheduled days of the 103rd General Assembly spring legislative session. Last Friday was the House third reading deadline.

Legislators will arrive back in Springfield on Tuesday, April 30 to begin cross-chamber committee work. The remaining 4 weeks will be focused on cross chamber legislative action and on the budget as the appropriations committees continue to hear testimony on fiscal year 2025 budget requests from state agencies.

Tier 2 Pension Update

The House Personnel and Pensions Committee heard subject matter regarding the governor’s pension plan presented by the Governor’s Office of Management and Budget.

The following three measures were proposed by the Governor in his February budget address and discussed by the Committee:

  • Increase statutory funding from 90% by 2045 to 100% by 2048. The Governor wants to add three years of contributions to bring Illinois’ pension funding to 100%.

  • The state will funnel current legacy payments to the pension fund once legacy debts are paid off, which will begin in 2030 and reduce future pension payments. By dedicating future savings to increase pension contributions from FY30 through FY40, the state aims to save taxpayers an estimated $5.1 billion by FY45.

  • Ensure Tier 2 pensionable earnings comply with federal law, specifically the Safe Harbor provision, but the proposal does not include broad-based Tier 2 pension reform.

Last week, educators, PSRPS, and public employees united for a week of action to tell lawmakers that public employees deserve to retire with dignity and financial security! IFT members were among the 63,000 public workers who called or emailed their legislators to urge them to Fix Tier 2. Our fight is not over, so please watch your inbox and for updates and future calls for action.


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