SPRINGFIELD — Thanks to legislation led by State Senator Robert Martwick, several Illinois pension systems may soon see reforms to better protect retirement security for all public workers.
“Hardworking Illinoisans and multiple labor organizations have shared how our current pension system is leaving them behind and not adequately compensating them for the work they’ve done for our great state,” said Martwick (D-Chicago). “This bill will address key concerns to ensure working Illinoisans have a secure, fair retirement plan.”
House Bill 3193 is a comprehensive proposal that would address issues in current pension administration. Among the initiatives, the legislation includes changes to the Chicago Teachers’ Pension Fund to allow retired teachers who return to work to keep their pension benefits on a prorated basis rather than have them revoked entirely. This provision supports efforts to address the state’s teacher shortage while retaining the hard-earned benefits of retirees who are willing to re-enter the workforce.
In recognition of the risks firefighters face, House Bill 3193 would add breast cancer to the list of occupational diseases covered by disability provisions. It would also update policies within the Metropolitan Water Reclamation District to clarify the definition of salary for employees on disability benefits and require annual medical examinations for workers to continue to receive these benefits.
To provide financial stability for retiring state troopers, the measure would require the State Employees’ Retirement System to issue an estimated annuity payment when they retire. This provision would address the delays experienced by state troopers whose pensions are calculated using an alternative formula, ensuring they have time to financially plan as they move into the next stage of their lives.
The measure also opens up opportunities for service credit transfers between various systems, including between downstate fire and police funds, military service into the Cook County system, CTE teacher service into the Teachers’ Retirement System, and downstate police to the Illinois Municipal Retirement Fund. These changes will help resolve issues faced by public workers who move between roles or agencies.
“People at retirement age have worked for decades — they should not be burdened because of past mistakes in how the state has managed their pensions,” said Martwick. “These changes will give retirees more financial security, and make our state more desirable when recruiting and retaining workers.”
House Bill 3193 passed the Senate on Thursday.
