90th General Assembly
Summary of SB1821
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Senate Sponsors:
RADOGNO-DELEO.

Short description: 
PEN CD-CHGO POL-WIDOW INCREASE                                             

Synopsis of Bill as introduced:
        Amends the Chicago Police Article of the Illinois  Pension  Code.      
   Provides   a   compounded  3%  annual  increase  in  surviving  spouse      
   annuities. Amends the State Mandates  Act  to  require  implementation      
   without reimbursement.  Effective immediately.                              
          PENSION NOTE                                                         
          Estimated increase in accrued liability for non-compounded           
          annual increases is $68.5 M, with first year costs at $3.3 M         
          (0.5% of payroll). Compounded annual increases would cost            
          considerably more.                                                   
 
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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