Amends the Investment Board Article of the Illinois Pension. Provides that, if the Illinois State Board of Investment has not received a required audit opinion by December 15, the Board shall not be considered in violation of a provision requiring an annual report to each pension fund, retirement system, or education fund under the Board's jurisdiction within 6 months after the close of each fiscal year. Effective immediately.
House Floor Amendment No. 1: Replaces everything after the enacting clause with the engrossed bill with the following changes. Amends the Downstate Firefighter Article of the Illinois Pension Code. Provides for a increase in the line of duty disability pension that continues to be paid to a firefighter's survivors after the death of the firefighter to $50,051.76 and adjusted by a simple 3% increase annually from the initial adjustment if: (1) the firefighter died in 2023; (2) the firefighter died less than 6 months before his or her 60th birthday; and (3) by no later than one year after the effective date of the amendatory Act, the board of trustees of the fire protection district adopted an ordinance or resolution granting the increase. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Statutes affected:
Introduced: 40 ILCS 5/22
Engrossed: 40 ILCS 5/22
Enrolled: 40 ILCS 5/4, 40 ILCS 5/22, 30 ILCS 805/8