PEN CD-ACCEL BENEFIT PAYMENT

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Plain-English Summary

Amends the Downstate Police, Downstate Firefighter, Chicago Police, Chicago Firefighter, Chicago Municipal, Cook County, Cook County Forest Preserve, Chicago Laborers, and Chicago Park District Articles of the Illinois Pension Code. Establishes an accelerated pension benefit payment in lieu of any pension benefit under which an eligible person may elect to receive an amount determined by the Fund to be equal to 60% of the present value of his or her pension benefits in lieu of receiving any pens…

Source: OpenStates · fetched April 24, 2026

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