90th General Assembly
Status of HB2595
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 Full Text  Bill Summary

   40 ILCS 5/5-132           from Ch. 108 1/2, par. 5-132                      
   30 ILCS 805/8.22 new                                                        

        Amends the Chicago Police Article of the  Pension  Code  to  base      
   retirement  benefits on the highest 12 months, rather than 4 years, of      
   salary within the last 10 years of service, for persons retiring after      
   December  31,  1998.   Amends  the  State  Mandates  Act  to   require      
   implementation without reimbursement.  Effective immediately.               
          PENSION NOTE                                                         
          Estimated increase in accrued liability is $146.0 M; in normal       
          cost is $4.8 M, with an annual payment over 40 years of $6.9 M.      
          Estimated first year cost is $11.7 M, 1.79% of payroll.              
   98-01-27  H  FILED WITH CLERK                                               
   98-01-27  H  ADDED AS A JOINT SPONSOR                 SAVIANO               
   98-01-27  H  ADDED AS A CO-SPONSOR                    BUGIELSKI             
   98-01-27  H  ADDED AS A CO-SPONSOR                    BURKE                 
   98-01-27  H  ADDED AS A CO-SPONSOR                    LYONS,JOSEPH          
   98-01-27  H  ADDED AS A CO-SPONSOR                    SANTIAGO              
   98-01-27  H  ADDED AS A CO-SPONSOR                    MCAULIFFE             
   98-01-27  H  FIRST READING                                                  
   98-01-27  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   98-03-03  H                        PENSION NOTE FILED                       
   98-03-03  H                   COMMITTEE               RULES                 
   99-01-12  H  SESSION SINE DIE                                               


 Full Text  Bill Summary