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Illinois lawmakers propose changes to the Tier 2 pension system to improve benefits and ensure federal compliance.
Illinois lawmakers are considering changes to the Tier 2 pension system for government employees hired since 2011 to ensure compliance with Social Security and improve benefits.
The current system has raised concerns over fairness and compliance with federal "Safe Harbor" requirements.
Proposed changes include increasing the maximum salary used to calculate pension benefits and adding an annual cost of living adjustment.
These changes aim to address recruitment and retention challenges in the public sector.
Lawmakers are set to discuss these proposals in an upcoming session.
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Los legisladores de Illinois proponen cambios en el sistema de pensiones de Nivel 2 para mejorar los beneficios y asegurar el cumplimiento federal.