90th General Assembly
Status of SB0336
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 Full Text  Bill Summary
WALSH,T.

   40 ILCS 5/5-132.3 new                                                       
   30 ILCS 805/8.21 new                                                        

        Amends the Chicago Police Article of the Pension Code to  provide      
   early  retirement  incentives.   Grants  up  to  5 years of creditable      
   service and up to 5  years  of  age  enhancement.   Requires  employee      
   contributions  at half the regular rate.  Requires the City to pay the      
   resulting unfunded accrued liability to the Fund over  7  years,  with      
   interest.   Amends  the  State  Mandates Act to require implementation      
   without reimbursement.  Effective immediately.                              
          PENSION NOTE                                                         
           Increase in accrued liability at 50%                  $233.3 M      
           Increase in total annual cost at 50%                  $ 31.1 M      
           Increase in accrued liability at 100%                 $516.3 M      
           Increase in total annual cost at 100%                 $ 62.2 M      
   97-02-05  S  FIRST READING                                                  
   97-02-05  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   97-02-05  S       ASSIGNED TO COMMITTEE               INS & PENS.           
   97-02-26  S       TO SUBCOMMITTEE                                           
   97-03-05  S                        PENSION NOTE FILED                       
   97-03-05  S                   COMMITTEE               INS & PENS.           
   97-03-15  S  RE-REFERRED TO RULES COMM/RULE 3-9(A)    RULES                 
   99-01-12  S  SESSION SINE DIE                                               

   END OF INQUIRY 



 Full Text  Bill Summary