SMITH,MICHAEL-FRANKS-GRANBERG, FOWLER AND BOLAND. 40 ILCS 5/3-111 from Ch. 108 1/2, par. 3-111 30 ILCS 805/8.23 new Amends the Downstate Police Article of the Illinois Pension Code. Increases the retirement formula from 2.0% to 2.5% of salary for each year of service over 20. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) Increase in accrued liability $73.7 million Increase in total annual costs (1.47% of payroll) $ 7.7 million 99-02-11 H FILED WITH CLERK 99-02-11 H FIRST READING 99-02-11 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-02-17 H ASSIGNED TO COMMITTEE PERS PENSION 99-03-05 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL 99-03-09 H PENSION NOTE FILED 99-03-09 H COMMITTEE RULES 00-01-25 H ADDED AS A JOINT SPONSOR FRANKS 00-02-15 H ADDED AS A JOINT SPONSOR GRANBERG 00-02-23 H ADDED AS A CO-SPONSOR FOWLER 00-02-23 H ADDED AS A CO-SPONSOR BOLAND 01-01-09 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary