90th General Assembly
Summary of SB1818
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Senate Sponsors:
RADOGNO.

Short description: 
PEN CD-CHGO POL-SALARY                                                     

Synopsis of Bill as introduced:
        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; increased       
          normal cost is $4.8 M, requiring an annual payment of $6.9 M;        
          estimated 1st year cost is $11.7 M (1.79% of payroll).               
 
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



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