IL HB5811

Removes the definition of "mistake" from Sections 3-144.2 and 4-138.10 of the Illinois Pension Code for Downstate Police and Downstate Firefighters, eliminating language that specified what constitutes a mistake in benefit calculations.

Retains provisions requiring pension funds to adjust benefits to correct amounts as soon as practicable after discovering any mistake, whether too low or too high.

Maintains the requirement that funds make lump sum payments with interest when benefits were mistakenly set too low, calculated from the date unpaid amounts accrued.

Preserves the 3-year statute of limitations protection for recipients: overpayments discovered 3 or more years after the error need not be repaid if the error was not due to participant fraud.

Takes effect immediately upon becoming law.