Bill Status of SB2059 97th General Assembly
Short Description: PEN CD-CHIC POLICE-COLA
Sen. Kwame Raoul
| 1/8/2013||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Chicago Police Article of the Illinois Pension Code. Provides that, for policemen born on or after January 1, 1955, beginning on January 1, 2012, automatic annual increases shall be 3% and such policemen shall not be subject to the 30% maximum increase. Increases employee contributions by 1% in exchange for that benefit enhancement. Makes changes concerning annual increases to the monthly annuities of persons who first become a policeman on or after the effective date of the amendatory Act and deletes repetitive language concerning annual increases in survivor's annuities for new hires. Amends the State Mandates Act to require implementation without reimbursement.