Amends the Chicago Municipal Article of the Illinois Pension Code. Provides that for school years beginning on or after July 1, 2023, an age and service or prior service annuity shall not be cancelled in the case of an employee who is re-employed by the Board of Education of the city as a paraprofessional or related service provider on a temporary and non-annual basis or on an hourly basis so long as the person: (1) does not work for compensation on more than 120 days in a school year; or (2) does not accept gross compensation for the re-employment in a school year in excess of $30,000. Effective immediately. Senate Committee Amendment No. 1 Deletes reference to: 40 ILCS 5/8-165 Adds reference to: 40 ILCS 5/1-110 from Ch. 108 1/2, par. 1-110 Replaces everything after the enacting clause. Amends the Illinois Pension Code. Makes a technical change in a Section concerning prohibited transactions. Senate Floor Amendment No. 3 Deletes reference to: 40 ILCS 5/1-110 Adds reference to: 40 ILCS 5/1-160 40 ILCS 5/9-169 from Ch. 108 1/2, par. 9-169 40 ILCS 5/9-169.1 new 40 ILCS 5/9-169.2 new 40 ILCS 5/9-179.1 from Ch. 108 1/2, par. 9-179.1 40 ILCS 5/9-184 from Ch. 108 1/2, par. 9-184 40 ILCS 5/9-185 from Ch. 108 1/2, par. 9-185 40 ILCS 5/9-195 from Ch. 108 1/2, par. 9-195 40 ILCS 5/9-199 from Ch. 108 1/2, par. 9-199 40 ILCS 5/9-240 new 30 ILCS 805/8.47 new Replaces everything after the enacting clause. Amends the Illinois Pension Code. In the General Provisions Article, provides that beginning on January 1, 2024, the annual earnings, salary, or wages of a Tier 2 participant under the Cook County Article shall track with the Social Security wage base (rather than shall not exceed $106,800, adjusted annually). Makes conforming changes in the Cook County Article and provides that the county's contribution shall be paid through a tax levy and any other lawfully available funds. Further amends the Cook County Article. In a provision concerning establishing credit for military service, deletes a restrictive date and a requirement that the person must have at least 25 years of service credit. Requires the retirement board to retain an actuary who is a member in good standing of the American Academy of Actuaries to produce an annual actuarial report of the Fund and provides criteria for the report. Makes changes concerning the minimum required employer contribution. Provides that the annual audit required of the Fund may include the preparation of the annual actuarial report. Provides that the annual report submitted to the county board shall include the annual actuarial report. Requires that the minimum required employer contribution shall be submitted annually by the county and provides the method of determining the minimum required employer contribution. Provides that the county shall be notified by June 14 of each year of the proposed costs of any such payments allocated by the Fund for all or any portion of the total health premium paid by the Fund. Makes other changes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.