Search results
Results From The WOW.Com Content Network
For premium support please call: 800-290-4726 more ways to reach us
The bill is an expansion of the Paid Leave for All Act, legislation signed into law last year by Gov. JB Pritzker ensuring full and part-time workers can earn up to 40 hours of paid leave per year.
Changes from the “Tier I” pension law include raising the minimum eligibility to draw a retirement benefit to age 67 with 10 years of service, initiating a cap on the salaries used to calculate retirement benefits, and limiting cost-of-living annuity adjustments to the lesser of 3 percent or half of the annual increase in the Consumer Price ...
SURS has been developing its investment program since the early 1980s, when Illinois, like many other states, changed its laws to allow the state pension funds to adopt modern investment practices. At the same time, the new laws established a high standard of fiduciary responsibility, namely adopting the prudent expert rule.
The Illinois pension crisis refers to the rising gap between the pension benefits owed to eligible state employees and the amount of funding set aside by the state to make these future pension payments. As of 2020, the size of Illinois' pension obligation is $237B, but the state's pension funds have only $96B available for payouts to retirees.
For premium support please call: 800-290-4726 more ways to reach us
All employees are entitled to one hour of paid leave for every 40 hours worked and can accrue up to 40 hours per year. Leave can be used for any reason. [22] In addition, Cook County and its county seat of Chicago have local paid sick leave laws, although some municipalities have opted out. In those two localities, anyone, except government ...
Story at a glance Illinois is now the third state in the nation to require employers to offer workers paid time off “for any reason.” Illinois workers will be able to use their earned time off ...