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Bruce Rauner, Governor

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   GARS Tier 2 annual Salary Limitation   

Tier 2 Annual Salary Limitation
&
Annual Increase to the Monthly Pension



In accordance with state law, the Department of Insurance is to annually determine certain annuity limitations for use in benefit determinations by the Retirement Systems and Pension Funds operating under the Illinois Pension Code. The calculations include:

  • The retirement Cost of Living Adjustment ("COLA") applicable to Tier 2 participants, and
  • The annual salary maximum applicable to Tier 2 participants.

For the General Assembly Retirement System (Article 2) the annuity COLA and the increase in the annual salary maximum equals the lesser of 3% or the full CPI-U. The following table outlines the COLA to be applied and the maximum salary for Tier 2 annuity purposes.




Calendar Year
Prior Year CPI-U
Tier 2 COLA or Annuity increase
Tier 2 Annual Earnings,Salary or Wages Maximum
 
2011
 
3.00%
$106,800.00
2012
3.90%
3.00%
$110,004.00
2013
2.00%
2.00%
$112,204.08
2014
1.20%
1.20%
$113,550.53
2015
1.70%
1.70%
$115.480.89
2016
0.00%
0.00%
$115,480.89
2017
1.50%
1.50%
$117,213.10



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