91st General Assembly Summary of HB3367    [ Home ]   [ Back ]   [ Legislation ]

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House Sponsors:
CAPPARELLI-LYONS,JOSEPH-BURKE-ACEVEDO, BUGIELSKI, 
   BRADLEY AND MCKEON.

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 (Pension Laws Commission)                               
          The estimated increase in accrued liability due to HB 3367 is        
          $110.9 million, with an estimated increase in normal cost of         
          $1.2 million. The estimated 1st year cost is $6.7 million, or        
          0.91% 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 


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