IL SB3439

Increases the Cook County pension tax multiplier to 2.25 for years 2015-2018 and to 3.00 for years 2019-2022, affecting both the County and Forest Preserve District pension funds.

Beginning in 2023, eliminates the fixed multiplier system and requires annual tax levies sufficient to cover the normal cost of the pension fund plus annual amortization of unfunded accrued liabilities over 30 years, as determined by a qualified actuary.

Applies the same tax multiplier and funding structure changes to the Cook County Forest Preserve District pension fund under the same timeline.

Amends the State Mandates Act to exempt the implementation of these changes from state reimbursement requirements.

Takes effect immediately upon becoming law.