State Police Get Pension Increase
By aaroncynic in News on Dec 6, 2010 7:20PM
Last week the House voted to raise the retirement age to receive a full pension to 55 for police and fire departments. In conjunction with the House vote, the Illinois State Police was granted authority to offer severance packages to officers retiring before the end of the year. Rich Miller at Capitol Fax reports that anyone accepting the package will receive 6% cost of living raises for 2011 on their last day of work.
Higher salaried officers are also being offered the severance package and the ISP estimates that between 70 and 90 officers will retire under the initiative. Savings to the ISP depend on the level of participation and salary of participants.