House Sponsors: BRADLEY-CAPPARELLI-MCAULIFFE-LYONS,JOSEPH-BUGIELSKI. Short description: PEN CD-CHGO FIRE-ANNUAL INCR Synopsis of Bill as introduced: Amends the Chicago Firefighter Article of the Pension Code. For firemen born on or after January 1, 1945 and before January 1, 1960, increases the automatic annual increase in retirement annuity to 3% and removes the 30% maximum. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) HB 3105 would increase the accrued liability of the Chicago Firefighters' Fund by an estimated $43.3 million. The level dollar annual payment needed to amortize the estimated increase in unfunded liability over 40 years is $3.6 million. The esti- mated annual increase in normal cost is $1.5 million, or 0.58% of payroll. Therefore, the estimated increase in total annual cost is $5.1 million, or $1.94% of payroll. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status