SB3083 Summary

• Amends the Chicago Police Article of the Illinois Pension Code regarding age and service annuities for police officers.

• No police officer has a right to an age and service annuity until the later of: (i) attaining age 50, (ii) their date of withdrawal from service, or (iii) the date they apply for the annuity.

• Maintains existing provisions for annuity calculations based on years of service: full accumulated sum for 20+ years of service, or partial city contribution for 10-19 years of service.

• May trigger fiscal impact and pension impact note requirements under Illinois law.