90th General Assembly
Summary of HB2185
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House Sponsors:

Short description: 
PENCD-CHGO FIRE-DISABILITY ETC                                             

Synopsis of Bill as introduced:
        Amends the General Provisions Article  of  the  Illinois  Pension      
   Code.   Requires  every retirement system to provide to its members an      
   annual statement of benefits and contributions and an  explanation  of      
   the  system's  unfunded  liabilities  and  funding ratio.  Establishes      
   certain procedural requirements for denial of a benefit claim.  Amends      
   the Chicago Firefighter Article to provide  a  retirement  formula  of      
   2.5%  of final average salary per year of service for persons retiring      
   with at least 10 but less than  20  years  of  service,  to  begin  no      
   earlier than age 63.  Eliminates the money purchase annuity for future      
   entrants.   Eliminates the refund of widow's contributions for persons      
   who are unmarried at retirement or  attainment  of  age  63.  Requires      
   payment of interest on refunds of unused contributions.  Increases the      
   death benefit for firemen dying before retirement but after attainment      
   of  age  50.    Eliminates  the  residency  requirement for persons on      
   disability.  Recognizes marriages entered into  while  on  disability.      
   Provides  for ordinary disability benefits during the first 30 days of      
   disability, terminates the automatic deduction of  contributions  from      
   those  benefits, and changes provisions relating to service credit for      
   periods of disability.  Allows payment of  disability  benefits  until      
   age   70 1/2.   Increases  the  amount  of  the  occupational  disease      
   disability benefit and, for  some  persons,  the  ordinary  disability      
   benefit.    Provides  a  noncompounded  3% annual increase in widow's,      
   child's, and parent's  annuity.   Increases  the  annual  increase  in      
   retirement  annuities  to  3%  (not  compounded)  and  removes the 30%      
   maximum increase limitation.  Changes the vote requirement  for  board      
   action  on  benefit  applications.    Amends the State Mandates Act to      
   require implementation without reimbursement.  Effective immediately.       
          PENSION NOTE                                                         
          Fiscal impact has not been determined but will be significant.       
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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