IL HB3059

Recalculates and increases monthly pensions in July 2025 for downstate firefighters who retired between July 1, 1977 and January 1, 1986 to reflect what they would have received with 3% compounded annual increases since their retirement date

Provides these firefighters with an additional 3% increase on the pension amount being paid each January following the July 2025 recalculation

Applies regardless of whether the firefighter was still in service on or after the effective date of the legislation

Amends the State Mandates Act to exempt local governments from state reimbursement requirements for implementing these pension changes

Takes effect immediately upon becoming law