Representative Olsen Champions New Law to Increase Standards for Elected Official Pensions

Bipartisan legislation was signed into law last week which increases the number of hours an elected official must work to become eligible for a pension through the Illinois Municipal Retirement Fund (IMRF). State Representative David S. Olsen (R-Downers Grove), the bill’s Chief Co-Sponsor, called the new law “a great first step in addressing Illinois’ pressing need for property tax relief and pension reform.”

Previously, local elected officials could become pension-eligible at 600 hours of work per year unless a municipality or unit of local government has specifically approved a measure requiring them to work 1,000 hours per year. HB 3122, now in the statutes as Public Act 100-0274, increases the standard for all local elected officials who wish to qualify for a public pension to a required minimum of 1,000 hours of work per year.

“This is bipartisan legislation that holds our elected officials to a higher standard with regard to their ability to earn a pension through IMRF,” said Olsen. “Honestly, I believe we need to go further, but this new law represents a step in the right direction. It sends a message to taxpayers that we take pension reform seriously. I will continue to work in a bipartisan manner to seek additional pension reforms that will protect taxpayers.”

The provisions of the new law take effect immediately.

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