PENSION-2 TIERS

Amends the Illinois Public Labor Relations Act. Exempts the changes made to the Illinois Pension Code under this amendatory Act from provisions providing that, if there is a conflict between the Act and any other law, the provisions of the Act or any collective bargaining agreement negotiated under the Act shall prevail and control. Amends the General Assembly, State Employees, State Universities, Downstate Teachers, and Judges Articles of the Illinois Pension Code (the 5 State-funded Retirement Systems). Adds different provisions concerning retirement benefits applicable to persons hired on or after August 1, 2010 (later entrants), including provisions concerning creditable service, conditions for eligibility for a retirement annuity, amount of retirement annuities, alternative forms of retirement annuities, annual increases, employee contributions, refunds, and re-entry after retirement. Effective immediately.