IL HB2016

Amends the Illinois Pension Code by adding Section 2-163 concerning blended pension benefits for General Assembly participants.

Active participants who joined the fund before January 1, 2011 become eligible only for benefit levels provided to participants who joined on or after January 1, 2011 for any service periods after the bill's effective date.

Retirement annuities for pre-2011 participants are calculated using a weighted average of benefits earned before and after the bill's effective date.

Applies to the General Assembly Article of the Illinois Pension Code affecting public employee pension benefits.