Illinois governor signs bill eliminating age limits for Chicago Firemen’s COLAs
Illinois governor signs bill eliminating age limits for Chicago Firemen’s COLAs
Illinois Gov. J.B. Pritzker
Illinois Gov. J.B. Pritzker signed a bill into law Monday to remove age-based restrictions for certain participants in the $863 million Chicago Firemen s Annuity & Benefit Fund to receive annual 3% cost-of-living adjustments.
The new law removes the eligibility restriction for participants who retire at age 55 who are born after Jan. 1, 1966. Those participants will now receive a 3% COLA.
The Senate voted 37-14 in January to pass the bill, and the Illinois House had passed it 72-40 in April 2019.