IL SB3954

Amends Section 16-132 of the Illinois Pension Code to allow retirement annuity effective dates after official employment termination if the employment is less than 10 days in length and compensation is less than $2,000

Modifies Section 16-203 to exclude Public Act 102-16 and Public Act 102-0871 (this amendatory act) from the definition of "new benefit increase" subject to the 5-year expiration provision

Ensures that benefit increases enacted by this bill are not subject to automatic expiration requirements and funding contingency provisions that apply to other new benefit increases under the pension code