HB5183 Summary

• Increases minimum retirement annuities for Chicago police officers retiring before January 1, 2019 at age 50+ with 20+ years of service to 150% of the Federal Poverty Level beginning January 1, 2019.

• Increases minimum widow's annuities for surviving spouses of Chicago police officers to 150% of the Federal Poverty Level beginning January 1, 2019.

• Increases minimum retirement annuities for Chicago firefighters retiring before January 1, 2019 at age 50+ with 20+ years of service to 150% of the Federal Poverty Level beginning January 1, 2019.

• Increases minimum widow's annuities for surviving spouses of Chicago firefighters to 150% of the Federal Poverty Level beginning January 1, 2019, with Federal Poverty Level defined as guidelines for single-person households in Illinois per Department of Health and Human Services.

• Exempts the state from reimbursing municipalities for costs of implementing these pension benefit increases under the State Mandates Act.