IL HB2679

Changes annual pension increases for Tier 2 members (firefighters first becoming firefighters on or after January 1, 2011) from the lesser of 3% or one-half the annual consumer price index change to a fixed 3% of the originally granted pension.

Annual increases for Tier 2 members begin on January 1 occurring either on or after age 60 or the first anniversary of pension start date, whichever is later.

Applies changes retroactively without regard to whether affected firefighters are in active service on or after the effective date of the amendatory act.

Amends the State Mandates Act to exempt this mandate from state reimbursement requirements.

Takes effect immediately upon becoming law.