IL HB2332

Lowers the retirement age from 60 to 55 for Tier 2 members of the State Universities Retirement System (SURS) who are police officers or firefighters with at least 20 years of service

Applies retroactively to January 1, 2011, the date when Tier 2 pension benefits originally took effect

Excludes this benefit increase from the definition of "new benefit increase," exempting it from additional funding requirements and the 5-year expiration rule that typically applies to pension enhancements

Amends Sections 15-135 and 15-198 of the Illinois Pension Code under the State Universities Article