IL HB2422

Extends the deadline for Chicago firefighters to establish pension service credit for prior Article 8 fund employment from January 1, 2005 to January 1, 2010.

Allows firefighters who did not participate in any pension fund during 1970-1983 Chicago Fire Department employment to establish service credit in the Chicago Firefighter Article by paying employee contributions with 4% annual compounded interest.

Allows firefighters who previously participated in the Article 8 (Municipal) pension fund, terminated that service, and received a refund to establish credit in the Chicago Firefighter Article by paying contributions plus interest.

Transfers municipality credits for paramedic service from the Article 8 fund to the Article 6 fund with 11% annual compounded interest when firefighters meet specified conditions and pay for prior paramedic service in full.

Exempts the implementation of mandates created by this act from State Mandates Act reimbursement requirements.