90th General Assembly Summary of HB2599    [ Home ]   [ Back ]   [ Legislation ]

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House Sponsors:
BUGIELSKI-CAPPARELLI-BURKE-LOPEZ-MCAULIFFE AND SANTIAGO.

Short description: 
PEN CD-CHGO POL-WIDOW INCREASE                                             

Synopsis of Bill as introduced:
        Amends the Chicago Police Article of the Illinois  Pension  Code.      
   Provides   a   compounded  3%  annual  increase  in  surviving  spouse      
   annuities. Amends the State Mandates  Act  to  require  implementation      
   without reimbursement.  Effective immediately.                              
          PENSION NOTE                                                         
          Estimated increase in accrued liabilities for a non-compounded       
          annual increase is $68.5 M. First year cost is $3.3 M, 0.5% of       
          payroll.                                                             
 
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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