IL SB3453

Adopts the Retirement Systems Reciprocal Act (Article 20) for Downstate Police participants who become entitled to retirement or survivor's annuities on or after the effective date and elect to proceed under the Reciprocal Act.

Allows Tier 2 members with at least 20 years of service as a police officer to retire at age 55 (instead of age 60) if Rule 4 of Section 15-136 applies to the participant.

Excludes any benefit increases resulting from this amendatory act from the definition of "new benefit increase" in Section 15-198, exempting them from the 5-year expiration requirement and additional funding conditions.

Amends the State Mandates Act to require implementation of these changes without state reimbursement to local governments.