90th General Assembly
Summary of HB3098
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House Sponsors:

Short description: 
PEN CD-DNST POL-3% SURVIVOR                                                

Synopsis of Bill as introduced:
        Amends the Downstate  Police  Article  of  the  Pension  Code  to      
   provide  a  noncompounded  3%  annual  increase  in survivor pensions.      
   Bases the calculation of retirement pensions and the initial automatic      
   annual increase in retirement pension on the number of months  (rather      
   than  full years) of creditable service; makes the resulting increases      
   apply to currently payable pensions beginning January 1, 1999.  Amends      
   the   State   Mandates   Act   to   require   implementation   without      
   reimbursement.  Effective immediately.                                      
          PENSION NOTE                                                         
          Estimated increase in accrued liability, $184.7 M; in total          
          annual cost, $13.0 M (3.49% 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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