Governors' April 20, 2012 Proposal on Pension Reform

Please note that the Governors' proposal targets the State's pension funds, not the Park Employees' Annuity and Benefit Fund.

Public Pension Stabilization Plan

The Governor signed Public Act 96-0889 into law creating a second-tier of benefits for future members of the General Assembly Retirement System.

Senate Bill 1946 outlines a two-tier pension system that changes benefits for anyone hired on or after January 1, 2011.





Civil Union Law Highlights
Benefits for Parties to a Civil Union

Effective June 1, 2011, all pension benefits previously made available to a married person and his or her spouse, are now benefits available to the parties to a civil union.  Parties may be same sex or opposite sex couples.

The complete text of the law can be found by clicking here.










Pension News
Park Employees' Annuity and Benefit Fund
of Chicago


The bill does not change benefits for Park Employees' Annuity & Benefit Fund members hired before January 1, 2011, or the Fund's retirees.  Please refer to the Fund's Principal Provisions for additional information.
PENSION REFORM
The Illinois House of Representatives filed Amendment No. 1 to Senate Bill 512 on May 26, 2011.
Dean J. Niedospial
Executive Director