IL HB4813

Modifies annual pension increases for Tier 2 downstate firefighters to a fixed 3% of the originally granted pension, eliminating the previous lesser-of calculation tied to consumer price index-u.

Changes apply retroactively to all Tier 2 members who first became firefighters on or after January 1, 2011, regardless of whether they are currently in active service.

Removes provisions requiring pension increase calculations based on the lesser of 3% or one-half the annual unadjusted consumer price index change for a 12-month period ending in September.

Adds new Section 8.42 to the State Mandates Act declaring that implementation of this bill requires no state reimbursement to local units of government.

Takes effect immediately upon becoming law.