IL HB2711

Requires recalculation of monthly pensions in July 2013 for downstate firefighters who retired on or before January 1, 1986, based on 3% compounded annual increases from January 1, 1986 onward plus any increases received before that date.

Provides 3% annual pension increases each January thereafter for affected firefighters, applied to the recalculated pension amount.

Amends the State Mandates Act to exempt the implementation of this pension recalculation from state reimbursement requirements.

Takes effect immediately upon becoming law.